The Hindu Business Line : Friday, May 11, 2007

Orient Cement reduces price
Orient Cement reduced the price of its popular brands, Orient Gold and Birla A1 premium cement by Rs 2 to Rs 4 per bag. The measure was in support of the Government's effort to contain cement prices and pass on the benefit to the ... More

Time Technoplast IPO opens on May 18
Issue closes on May 23; price band at Rs 290-315 More

OVERSEAS BORROWINGS
External commercial borrowings touch $3 b in Feb
Indian companies raised a little over $3 billion equivalent to about Rs 13,000 crore through external commercial borrowings (ECBs) in February 2007, according to figures provided by the Reserve Bank of India. About 86 companies raised money ... More

ESOPS
HC restrains GIC nominee from trading ESOPs of L&T
General Insurance Corporation of India (GIC) has secured an injunction from the Bombay High Court on Thursday restraining Mr B.P. Deshmukh, its nominee-director on the Larsen & Toubro board, from dealing in the employee stock options of ... More

AWARDS & HONOURS
Award for Eros Intl co-founder
Eros International, London has announced that Mr Kishore Lulla, co-founder of Eros International, has been chosen for the Eastern Eye Asian Business Award for 2007 for providing Indian cinema an international platform. ... More

iGATE in WEF's Global Growth Companies
iGATE Global Solutions has been invited as a member of the World Economic Forum's (WEF) Community of Global Growth Companies (GGC). iGATE has been identified as one of the Global Growth Companies for demonstrating a clear potential in becoming a ... More

AUDITING
CAs can accept more tax audit assignments
Rise in number of auditable assessees More

GENERAL INSURANCE
ONGC slashes offshore insurance spends by 38%
Also surpasses reserve accretion targets More

RESTRUCTURING
Bajaj Auto to consider demerger on May 17
Some cash reserves may go into finance, insurance biz More

Ceat embarks on brand restructuring exercise
Ogilvy & Mather appointed for the job More

MERGERS & ACQUISITIONS
Avesthagen, Groupe Limagrain venture buys into 2 cos
Avestha Gengraine Technologies's (Avesthagen) joint venture with French seeds major Groupe Limagrain has acquired majority stakes in two domestic seed companies. Financial or other details were not disclosed. In a press release, Avesthagen said ... More

HC sanctions Doom Dooma merger
McLeod Russel India Ltd has informed BSE that at the meeting held on May 8, the Calcutta High Court has sanctioned the Scheme of Amalgamation of Doom Dooma Tea Company Ltd with retrospective effect from April 1, 2006. ... More

NEW PROJECTS
KSK Ventures setting up power plant in Maharashtra
540-MW plant to come up at Rs 2,400-cr investment More

Konecranes may set up manufacturing facility here
The Finland-based crane manufacturer, Konecranes, plans to set up a manufacturing plant in India, the Company Chief Executive Officer and President, Mr Pekka Lundmark, had said. "At present, we do annual business here worth about $10 million ... More

Sona Koyo setting up facility in Bengal
For catering to Tatas' Rs one-lakh car More

OVERSEAS INVESTMENTS
India may pick up 1% stake in Rosneft
Mr Murli Deora has indicated the possibility of a consortium approach by State-owned oil companies for acquiring the stake. More

TRADE & LABOUR UNIONS
No headway in talks over MTR Foods lockout
The talks between the MTR Foods management and its workers union made no headway on Thursday too with both parties sticking to their stand. While the management wants the workers to give an individual undertaking assuring "good conduct" before ... More

Hind Motors' Uttarpara factory reopens after strike
Management agrees for a `dialogue' with trade unions More

ALLIANCES & JOINT VENTURES
Lupin signs MoU with Symbiotec
Lupin Ltd has signed a memorandum of understanding with Symbiotec Pharmalab Ltd for a joint venture, by making an equity investment in Symbiotec for a majority stake. The company did not divulge how much stake it would pick up in ... More

Lachlan Murdoch enters India thru Percept Talent
Percept Holdings and Mr Lachlan Murdoch's Illyria Pty Ltd (Australia) have launched a 50:50 joint venture company — Percept Talent Management (PTM). The company will represent exceptional creative and technical talent in the fields of ... More

Ansal pact with UAE co
Delhi-based Ansal Properties & Infrastructure Ltd has entered into an agreement with Deyaar Development PSC, a real estate company in the UAE, for developing a mega mixed use township in North India. The project will comprise residential, ... More

STANDARDS & BENCHMARKS
Johnson & Johnson allays safety concerns on `withdrawn' stent
`Product failed to meet objective of pivotal study' More

SICK UNITS
All sick fertiliser units will be revived: Paswan
Rs 22,000 crore will be spent for this programme More

PEOPLE
New president of GVK Biosciences
GVK Biosciences, a Hyderabad-based contract research services provider, has appointed Mr Manni Kantipudi as President (Operations). According to a release, Mr Kantipudi has 15 years of experience in the IT industry, where he has ... More