The Hindu Business Line : Wednesday, February 09, 2005

BHEL develops power saving tool
NEW DELHI: Bharat Heavy Electricals Ltd (BHEL) has developed a new series compensation scheme - Flexible AC Transmission System (FACTS) - for reducing power losses and speedy transmission. The FACTS will enhance power transfer ... More

ANNOUNCEMENTS

Dr Reddy's cardio drug candidate undergoing clinical trials
DR Reddy's Laboratories Ltd has announced initiation of phase-I clinical trials for its cardiovascular drug candidate - RUS-3108. In a press release here, the company said the trails, being conducted in Belfast, Ireland, would explore the ... More

Deccan Gold identifies new prospects in AP, Karnataka
DECCAN Gold Mines Ltd has identified several targets in its ongoing gold exploration work in Karnataka and Andhra Pradesh. "The company is currently involved in exploration work in the Dharwar-Shimoga basin and the Hutti belt. Estimated gold ... More

AES Corp plans to bid for new power projects
AMERICAN power major AES Corporation, which has joint ventures with Orissa Power Generation Corporation at Ib Valley, is all set to bid for new power projects in the country. The company is bidding to develop the 1,000-MW Anpara C thermal power ... More

Sybly bags yarn export order
MUMBAI: Sybly Industries Ltd, manufacturer of polyester yarn and mercerised cotton yarn, has received a $1.2-million (Rs 5.4 crore) order for the supply of dyed and grey polyester/PV yarn to Turkey. According to a company press release, ... More

Suprajit to pay 20 pc interim
BANGALORE: Automotive component manufacturer Suprajit Engineering Ltd has declared an interim dividend of 20 per cent for 2004-05. The company reported a net profit of Rs 3.4 crore during the third quarter of 2004, up 21.51 per cent over ... More

IDBI sells 2 pc Nagarjuna Fert stake
Hyderabad: Nagarjuna Fertilisers & Chemicals Ltd (NFCL) has informed the stock exchanges that the Industrial Development Bank of India Ltd (IDBI), which is holding more than five per cent of the shares and voting rights in the company, has ... More

MERGERS & ACQUISITIONS

Gammon turns SPVs into subsidiaries
GAMMON India Ltd informed the stock exchanges on Tuesday that Andhra Expressway Ltd and Rajahmundry Expressway Ltd, the special purpose vehicle (SPV) companies promoted by it in joint venture with Punj Lloyd Ltd, have now become the subsidiaries ... More

NEW PROJECTS

BPCL to expand Trombay refinery capacity to 12 m.t.
BHARAT Petroleum Corporation Ltd (BPCL) will see its import bill swell further in the coming fiscal. The company will need another three million tonnes of imported crude oil for 2005-06. BPCL, which processes nine million tonnes of crude at ... More

Durgapur Steel to invest Rs 2,800 cr on capacity expansion
DURGAPUR Steel Plant (DSP), which registered a net profit of Rs 81 crore in the last financial year, is set to record even higher profits this fiscal. In the first nine months of this financial year, its net profit has touched the Rs 475-crore ... More

Jain irrigation to expand capacity
MUMBAI: Jain Irrigation Systems Ltd has announced firmed up of plans to expand its capacities and product range of PE pipes. It plans to launch 1200 mm diameter pipe. "Large diameter PE pipes are extensively used as an alternative to ... More

ALLIANCES & JOINT VENTURES

Wockhardt sets up jt ventures in Mexico, South Africa
DRUG company Wockhardt Ltd has formed two "business and marketing" joint ventures in Mexico and South Africa, respectively, besides setting up a wholly-owned subsidiary in Brazil. Unveiling the company's global bio-tech strategy here on ... More

SICK UNITS

Mangalam Cement revival plan gets BIFR nod
THE Board for Industrial and Financial Reconstruction (BIFR) has given its nod for an Rs 213-crore revival package for Mangalam Cement Ltd (MCL). The cut-off date for the scheme is April 1. The scheme envisages a one-time settlement of ... More

OUTLOOK

BEL displays goods with export potential at Aero India
BHARAT Electronics Ltd has picked a range of products and equipment with good export potential for display at Aero India 2005. The fifth edition of the Bangalore air show opens here on Wednesday. Among the BEL products on display are ... More

Beeyu Overseas to produce speciality, organic teas
BEEYU Overseas Ltd, a city-based company operating mostly as a bought leaf factory in the South, is all set to develop speciality, organic and green tea to have a complete range of products. According to Mr Charan Hegde, General Manager of ... More

TRENDS

`Salaried Indians get up to 14.3 pc hike'
INDIANS working in multinational companies, joint ventures and locally-owned companies have received salary hikes of up to 14.3 per cent between July 2004 and January this year. As usual, employees working for IT companies were the biggest ... More

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