The Hindu Business Line : Tuesday, December 11, 2007

PRIVATE PLACEMENT
CESC prices QIP offering at Rs 618
CESC Ltd’s QIP offering of equity shares of Rs 10 each aggregating $150 million has been priced at Rs 618 per share. According to a press release issued by the company here, the QIP issue opened on December 4, and was priced on December 8. ... More

NEW BUSINESS
Maytas Infra, Vedanta sign pact
Maytas Infra Ltd has signed a memorandum of understanding (MoU) with Vedanta Alumina Ltd (VAL) for developing an integrated township for its staff in Jharsuguda, Orissa. The project would have a total built up area of 14 lakh sq ft and competed ... More

COURTS/LEGAL ISSUES
Pay interest to assessees on delayed refunds, HC tells Excise Dept
Chennai, Dec. 10 The Central Excise Department, Tirunelveli, has been directed by the Madurai Bench of the Madras High Court to pay interest at 14 per cent on pre-deposit money collected from two Tirunelveli-based firms. Since the amount had ... More

IPR
Nicholas Piramal gets US patent for cancer compounds
Mumbai, Dec. 10 Nicholas Piramal India Ltd has received a product patent from the US Patent and Trademark Office for a class of oncology compounds including, P-276-00, its lead molecule targeting Multiple Myeloma. The patent covers ... More

HUMAN RESOURCES
Australian firm DBL opens corporate training centre
Development Beyond Learning (DBL), an Australian firm engaged in corporate training and development, has opened its first centre in India at Pune, and has plans to extend its operations to cities such as Mumbai, Nasik, Hyderabad, Chennai and ... More

RESTRUCTURING
Mico integrates Indian subsidiaries with global biz
Most Mico plants here will become global hubs More

MERGERS & ACQUISITIONS
Voltas buys shares in two joint ventures
Mumbai, Dec. 10 In order to exploit the opportunities in the electro mechanical and refrigeration products segment, Voltas Ltd has acquired 51 per cent shares from its joint venture partner – a local business man – in Saudi Ensas ... More

OVERSEAS INVESTMENTS
Sonatrach and OIL-IOC combine win gas blocks in Libya
State-owned entities Oil India Ltd (OIL)-Indian Oil Corporation Ltd (IOC) that have partnered with Algerian firm Sonatrach have won areas 95 (1 block) and 96 (3 blocks)in Libya. A senior official of OIL told Business ... More

TRADE & LABOUR UNIONS
BHPV staff resent delay in takeover
Visakhapatnam, Dec. 10 The Bharat Heavy Plate and Vessels Officers’ Association as well as the BHPV Supervisors’ Association registered their protest here on Monday at a gate meeting against the change in the stand of the Union ... More

ALLIANCES & JOINT VENTURES
Volvo forms joint venture with Eicher
To invest $350 m; to share sales network, tech More

Another marriage of frugal engg with high tech
Volvo-Eicher Motors joint venture More

Lanco ends contract with BHEL for power project
Group co to do EPC work; equipment from Chinese PSU More

Gloria Jeans ties up with Citymax for coffee chain
New Delhi, Dec. 10 The US-based coffee retail giant Gloria Jeans Coffees has joined hands with hospitality major Citymax India to launch a chain of coffee houses across the country. Citymax India, which is a part of the Dubai-based ... More

Prestige Group, PVR enter into tie-up
Bangalore, Dec.10 In a strategic tie-up that is expected to step up footfalls in shopping malls, Prestige Group and PVR have entered into an agreement that will see PVR Cinemas becoming the preferred provider of the multiplex screens in The ... More

Siemens inks MoU with RITES for rail wagons
Austria eyes more trade with India More

Eicher Motors down as market expected better deal
Kolkata, Dec. 10 Eicher Motors tumbled on the market after the announcement of its proposed joint venture with Volvo as Dalal Street had factored in a better price of company’s total business (sans motor cycles). The stock closed down ... More

DIVERSIFICATION
MSTC entering iron ore, cement trade
Open to procuring ore from domestic, overseas cos More

SICK UNITS
A turnaround specialist for stressed assets
Trans-Continental to float fund to invest in sick companies More

OUTLOOK
Wagh-Bakri Group to buy 4 tea plantations for Rs 50 cr
With the aim of expanding its market and increase its current turnover of Rs 260 crore to Rs 375 crore by 2010, the Wagh-Bakri Tea Group is planning to expand capacities and buy four tea plantations for nearly Rs 50 crore in the near ... More

‘Reliance Retail to continue with expansion plans’
Unveils books & music store Reliance Timeout More

PEOPLE
GE India chief joins panel
The US-India Business Council (USIBC) has announced the appointment of Mr Tejpreet Singh Chopra, President and Chief Executive Officer of GE India, on its board of directors. The USIBC is the premier business advocacy organisation representing ... More