CORPORATE
ANNOUNCEMENTS
Orbit buys land from Ambuja Cem
Orbit Corporation Ltd has acquired a two-acre plot belonging to Ambuja Cements Ltd in Kalina in the suburb of Santacruz, Mumbai, at a cost of Rs 333 crore. The real estate major, which is primarily focussed on redevelopment, said ...
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OVERSEAS BORROWINGS
RBI relaxes controls on dollar spend
Overseas investment limit raised for companies; key rates unchanged
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Cos get more leeway in dollar spending
Indian corporates have been given more leeway in dollar spending with RBI announcing a slew of measures towards capital account convertibility in the annual monetary policy on Tuesday. Indian companies have been allowed to remit up to $10 ...
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`No major gain' from ECB limit hike
The Chief Financial Officer of Satyam, Mr Srinivas Vadlamani, said that the increase in ECBs (external commercial borrowings) limit to $400 million is an incremental measure. The existing limit of $300 million itself is ...
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NEW BUSINESS
Madhucon bags irrigation project
Madhucon Project Ltd (MPL) has bagged an irrigation project of GNSS main canal in Kadapa district of Andhra Pradesh. The project is valued at approximately Rs 134 crore. The company has an order book of over Rs 5,000 crore in ...
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CONSULTING
Pact signed for Konkan project
Satluj Jal Viduyut Nigam Ltd has signed a memorandum of understanding with Konkan Railway Corporation Ltd (KRCL) for providing consultancy services in geotechnical investigation and related design works for tunnels in the Jammu and Kashmir ...
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MERGERS & ACQUISITIONS
Vedanta buys 51% in Sesa Goa for Rs 4,070 cr
Plans open offer for an additional 20 per cent holding
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Manpower driving M&As in construction sector
Acquiring workforce becoming key factor for firms
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Oil India, IOC will take local partner for Nigeria blocks
Combine has already roped in Suntera
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S.P. Apparels acquires Natalia brand
S.P. Apparels Ltd has acquired the womenswear brand Natalia from the Chennai-based SM Apparels. Announcing this at a press conference here today, Mr P. Sundararajan, Managing Director, S.P. Apparels, said the acquisition would enable the ...
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Jubilant acquires Hollister-Stier for $122.5 m
Jubilant Organosys Ltd on Tuesday announced acquisition of the US-based Hollister-Stier Laboratories for $122.5 million. The acquisition would be funded through a combination of cash-on-hand, which had been raised through an earlier external ...
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NEW PROJECTS
Decks cleared for Biocon's insulin plant
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SAIL board approval soon for Rourkela Steel capex plan
Blueprint envisages augmentation of capacities
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W.Bengal will soon have bio-fuel policy: CM
"It is high time that we switched over to types of fuel other than petrol and diesel. Not only is bio-fuel environment-friendly, petrol and diesel production capacities are limited leading to severe shortages at some point of time." This was ...
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ALLIANCES & JOINT VENTURES
ONGC, NTPC reach agreement on CBM, coal mining blocks
Oil and Natural Gas Corporation Ltd (ONGC) and NTPC Ltd seem to have resolved a key issue on the exploitation of coal block in a situation where the coal seams bear both coal bed methane (CBM) gas as well as coal. This could well pave the way for ...
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GV Films in tie-up for studio city
GV Films Ltd intends to "join hands with Shanghai Film Group Corporation of Shanghai Media and Entertainment Group and Growth Global Ltd, UK, to develop the concept of GV Studio City which is an integrated complex of multiplex, ...
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Reliance Group shows interest in revamp of KMC markets
Mukesh Ambani-led Reliance Group has evinced interest in taking part in the public-private partnership (PPP) model for upgradation and modernisation of markets under the Kolkata Municipal Corporation (KMC), according to Mr Alapan Bandopadhyay, ...
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Shetron, Metropak in tie-up
Metal caps' maker Shetron has tied up with the Denmark-based Metropak for production of lug caps and closures for the food industry. Shetron's Chairman and Managing Director, Mr Diwakar Shetty, told newspersons on Tuesday that ...
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DIVERSIFICATION
Cetex Petro diversifies into fine chemicals
Cetex Petrochemicals Ltd, leading producer of petrochemical solvents, has diversified into fine chemicals. The company on Tuesday launched a range of speciality chemicals that find application in aroma and pharmaceutical industries. "As a ...
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STANDARDS & BENCHMARKS
USP lab gets ISO certification
The laboratory of the United States Pharmacopeia (USP) here has received accreditation of International Organisation for Standardisation (ISO) 17025:2005 through ACLASS, an Arlington-based accrediting body. "The accreditation ...
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OUTLOOK
Blackberrys plans 100 stores by 2010
The expansion will be supported by aggressive marketing communications activities as well.
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Haworth stepping up research & design work in India
Plans $10-m additional investment
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Jharia, Bokaro blocks: ONGC may rework contract terms
Jharkhand Govt blamed for delay
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Atul Auto plans LCV launch in two years
The Rajkot-based Atul Auto Ltd will launch its four-wheeler light commercial vehicle (LCV) in two years. The offering, now at the drawing board stage, seeks to compete with the Tata Ace, the one-tonne LCV, and would cost Rs 2-2.5 lakh, Mr Hiren ...
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PERFORMANCE
`Cement cos maximising profits, not output'
Builders Association of India questions existing trade practices
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