CORPORATE
ANNOUNCEMENTS
IG Petro raises Rs 65-cr loan
IG Petrochemicals Ltd has informed the BSE that the company has raised a rupee term loan of Rs 65 crore from Bank of America as a refinance facility to repay the debentures of Spinnaker Group. With this, the company has made the full payment of ...
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PREFERENTIAL ALLOTMENTS
Lyka Labs plans pref allotment
Chennai, Nov. 22 Lyka Labs Ltd has informed the BSE that an EGM of the members of the company will be held on December 8 to offer, issue and allot by way of preferential allotment up to 36.5 lakh equity shares of Rs 10 each of the company for ...
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Siel plans Rs 15-cr issue
Siel Ltd has informed the BSE that an EGM of the members of the company will be held on December 12 to increase the authorised share capital of the company from Rs 100 crore to Rs 175 crore and to create, offer, issue and allot equity shares to ...
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NEW BUSINESS
Hindustan Dorr bags HPCL order
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COMPANY LAW
Govt considering Factories Act amendment
New Delhi, Nov. 22 The Union Government is considering amendments to the Factories Act, enacted in 1948 by including provision of a “rational alternative” to the current definition of “occupier” of a factory unit to ...
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AWARDS & HONOURS
E&Y award for Cyrus Poonawala
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MERGERS & ACQUISITIONS
IMPACT
Acquisition plans to boost Prime Focus revenues
Co in talks with two US-based production entities
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NEW PROJECTS
SABMiller plans four greenfield breweries
To invest $100 m a year for next 5 years
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Hind Copper to develop two greenfield mines
Total investment estimated at Rs 900 cr
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ETA Star finalising plans for SEZ in Coimbatore
‘To reach out for a pan-India presence before stepping into hospitality space’
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OVERSEAS INVESTMENTS
GAIL looking at CNG opportunities in Russia
New Delhi, Nov. 22 GAIL (India) Ltd plans to tap compressed natural gas (CNG) opportunities in Russia. The company is in discussions with Russian gas firm Itera for setting up city gas distribution network in Moscow to retail CNG to ...
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REGULATORY BODIES & RULINGS
CLB reserves orders on HB Stockholdings plea
Pref warrants issue by DCM Shriram
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US nod for Aurobindo products
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ALLIANCES & JOINT VENTURES
Sino-Indian venture for plastic fuel tank plant in Chennai
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Amrutanjan promotes new co
Amrutanjan Ltd has promoted a new company called Holistic Beauty Care Ltd with an authorised capital of Rs 100 crore. According to an announcement on the Bombay Stock Exchange, the company will initially carry on the business of pain relief and ...
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BUSINESS MODELS
BHEL keen to replicate TN model in other States
Loss of NTPC orders for supercritical power units spurs initiative
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DIVERSIFICATION
JMJ Group forays into tourism; launches ticketing portal
Hyderabad, Nov. 22 Plus Travels, part of the Mumbai-based JMJ Group, has announced the launch of its airline ticketing portal, focussed on B2B (business to business) initially. This is a diversification move for the Rs 260-crore JMJ ...
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SICK UNITS
‘Mill shareholder had no locus standi to question property sale’
Chennai, Nov 22 A minority shareholder in the Coimbatore Pioneer Mills Ltd, a sick unit before the Board for Industrial & Financial Reconstruction (BIFR), “has no locus standi to challenge an order of BIFR for sale of assets of the ...
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OUTLOOK
Ashok Leyland to launch telematics fleet of CVs
New Delhi, Nov. 22 Ashok Leyland would soon be equipping its trucks with telematics that would be GPS and GSM enabled, so that customers can facilitate coordination of their fleet. On a test basis, Ashok Leyland is currently making ...
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John Energy buying 4 more oil rigs for Rs 160 cr
To meet exploration sector demand
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Baldota Group to double wind capacity
New Delhi, Nov. 22 Wind energy producer, Baldota Group, on Thursday announced plans to invest around Rs 1,100 crore to double its wind energy capacity to 400 MW by the year 2010. “This augmentation in capacity is in tune with ...
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Kaira Can plans 100% subsidiary
Kaira Can Company Ltd has informed the BSE that a meeting of the board of directors of the company will be held on November 28 to consider the proposal of forming a 100 per cent wholly owned subsidiary of the company and all other matters ...
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Select buying lifts Essel Propack
A group of investors is accumulating Essel Propack on expectation of improved financial performance and inorganic as also organic growth. According to market sources, the company this quarter is likely to report better profitability due to two ...
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PEOPLE
2 new directors on Tata Steel board
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