CORPORATE
ANNOUNCEMENTS
Lanco denies misrepresentation in Sasan bid document
The Lanco Group Chairman, Mr L. Madhusudhan Rao, has denied any misrepresentation in the Lanco-Globeleq combine's bid document submissions for the Sasan Ultra Mega power project. "There has been no misrepresentation in our bid submissions... ...
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PRIVATE PLACEMENT
Gati Ltd allots equity shares
The board of directors of Gati Ltd, in a meeting held last week, allotted 9.85 lakh equity shares (with a face value of Rs 2 each) at a premium of Rs 82.60 to Mahendra Investment Advisors Private Ltd, the promoter group. The ...
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NEW BUSINESS
Lanco bags Rs 102-cr projects
Lanco Infratech Ltd has won three construction projects in Karnataka and Tamil Nadu, valued at Rs 102 crore. In a statement, the company said with the addition of these three projects, Lanco's order book for its construction and ...
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ESOPS
`Stock options must be taxed at employee level'
Industry chamber FICCI has urged the Finance Ministry to amend the budget proposal of imposing Fringe Benefit Tax (FBT) on employee stock options (ESOPs) at the hands of the employer. Instead, ESOPs should be taxed only as perquisites or capital ...
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AWARDS & HONOURS
IIM-A gets Skoch Challenger Award for academic excellence
These awards are independently instituted by Skoch Consultancy Services
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RESTRUCTURING
HCL Info restructuring approved
HCL Infosystems said that it had been permitted to restructure the company by demerging its networking business into Microcomp Ltd. In a statement to the BSE, the company said that the Delhi High Court had given its approval to ...
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MERGERS & ACQUISITIONS
Tata Steel completes Corus buy
Tata Steel Ltd said on Monday that it has completed the £6.2 billion (Rs 52,700 crore) acquisition of Corus Group plc at a price of 608 pence per ordinary share in cash. The enlarged company will have a crude steel production of ...
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NEW PROJECTS
Coal India mulls new profit-sharing model
Consultants to help frame contracts with equipment suppliers
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Haldia Petro finalising plans on second complex
Haldia Petrochemicals Ltd will finalise its plans on the proposed second naphtha based petrochem complex this year. The new plant, which will enhance the company's product range, will be located within the existing plant premises in Haldia. ...
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Fiat inaugurates new facility; rolls out Palio Stile
Commercial launch tomorrow in Mumbai
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OVERSEAS INVESTMENTS
Tatas will set up offshore SPV for Indonesia coal mine buy
Acquisition will be made through an offshore special purpose vehicle
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ALLIANCES & JOINT VENTURES
Ranbaxy, GSK to co-develop respiratory drug
Ranbaxy Laboratories and GlaxoSmithKline have decided to develop a drug in the respiratory segment, as the first of their joint drug discovery collaboration. In February this year, the two companies expanded their R&D association started in ...
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BEML makes triangular deal for off-the-road tyres
A sourcing-cum-finance initiative involving BEML, fellow public entity Coal India Ltd and two leading tyre companies is setting off the indigenisation of some of the critical and heavier-range OTR tyres. The `off-the-road' tyres are crucial for ...
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OUTLOOK
`ONGC's Mahanadi gas find confirmation soon'
DGH team assessing find for extent and full potential of gas deposits
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Appu Hotels plans 10 more units in TN
Appu Hotels Ltd that owns Le Royal Meridien, a five-star deluxe hotel in Chennai, plans 10 hotels across the State in another three to four years. "Of the ten, two or three will be in the five-star category and the rest will be in the ...
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DLF's Chennai IT park goes operational
Looking at more projects in commercial retail, residential market segments
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KG Basin block development plan by mid-year
Gujarat State Petroleum Corporation to prepare report
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PERFORMANCE
Tata Steel production crosses 5 mt
For the first time, crude steel production at Tata Steel surpassed five million tonnes in 2006-07. During the last fiscal, the steel major produced 5.55 million tonnes of hot metal, 5.05 million tonnes of crude steel and 4.93 million tonnes of ...
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Singareni coal output touches record high
The public sector Singareni Collieries Co Ltd (SCCL) has registered the highest production levels in its 118-year-old history by producing 37.70 million tonnes (mt) in 2006-07, recording a growth of 4.18 per cent over last year. Of the 37.45 mt ...
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Maruti, Tata Motors report surge in March sales
Hyundai clocks 23 pc rise in annual offtake
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