CORPORATE
ANNOUNCEMENTS
VSNL rechristened as Tata Communications
Mumbai, Dec 14 The city based Videsh Sanchar Nigam Ltd (VSNL) has been rechristened as Tata Communications Ltd at an extraordinary general meeting of the company convened today. The company board has also approved to pay a branding fee, ...
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Simplex gets nod for share allotment
Simplex Infrastructures Ltd has said that the Committee of Directors of the company at its meeting held on December 13 has approved the allocation of 64,00,000 equity shares at a price of Rs 625 per share (face value of Rs 2 each, including ...
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OVERSEAS BORROWINGS
India Cements to raise up to $150 m
India Cements Ltd has said that its shareholders have approved the issuance in the form of equity/equity linked securities in Indian/foreign markets, including Qualified Institutional Placement for an amount not exceeding $150 million, including ...
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REL gets board nod for FCCB issue
Reliance Energy Ltd has said that pursuant to conversion of the earlier series of outstanding FCCBs, the board of Reliance Energy Ltd passed an enabling resolution approving in principle the issuance of Foreign Currency Convertible Bonds (FCCBs) ...
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NEW BUSINESS
Maharashtra Seamless export orders
Maharashtra Seamless Ltd, the flagship company of D.P. Jindal Group, has announced that it has won export orders worth $40 million from the US and Latin America to support the drilling programmes of oil & gas majors in the above region. With ...
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AWARDS & HONOURS
Sterlite gets CII certificate
The Tuticorin-based Sterlite Industries has been awarded ‘Certificate of Commendation for Strong Commitment among the Large Business Organizations on Sustainable Development for the Year 2007.’ The Union Minister for Telecommunication ...
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MERGERS & ACQUISITIONS
UTV completes Indiagames buy
New Delhi, Dec. 14 UTV Software Communications has completed its acquisition of 60 per cent stake in Indiagames, the online and mobile games company.The company will be integrated with UTV businesses which are divided into four ...
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NEW PROJECTS
ITEMA to turn out twister machines from mid-2008
Full scale operation at Coimbatore unit likely by then
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Hindustan Zinc to expand capacity
New Delhi, Dec. 14 Hindustan Zinc Ltd, a group company of Vedanta Resources, announced the commissioning of its second hydro phase zinc smelter plant at Chanderiya, Rajasthan. This would increase the company’s production capacity to 67 ...
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Tudor India plans Rs 35-cr capacity expansion
Ahmedabad, Dec. 14 Tudor India Ltd (TIL), makers of the Prestolite brand of lead-acid batteries for both automotive and inverter applications, today announced plans to invest Rs 35 crore for capacity expansion at its transportation ...
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OVERSEAS INVESTMENTS
Godrej Sara Lee acquiring Chinese co for $50 m
To facilitate launch of its brands in that country
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Ceyhan refinery: Turkish authority grants licence to IOC
Co expects to finalise consortium in 2-3 months
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ALLIANCES & JOINT VENTURES
Hero drives with Daimler for 4-wheeler foray
Joint venture for manufacture of commercial vehicles
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Gautier, Ebony ink pact for home adornment stores
New Delhi, Dec. 14 French home furnishing major Gautier is eyeing a lion’s share in the home décor business. The company has inked an agreement with domestic retailer Ebony to set up at least 20 home adornment stores in North and ...
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Praj Ind signs pact with Icrisat
Hyderabad, Dec. 14 Praj Industries, the Pune-based bio-fuel technology company, has joined an ICRISAT-backed consortium that seeks to promote ethanol production using sweet sorghum.The company signed a memorandum of understanding with ...
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CIL may consider joint ventures for distribution
For supplying imported low-ash thermal coal
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VENTURE CAPITAL
IVR Prime gets Kotak funding
IVR Prime Urban Developers Ltd, the urban development arm of the Hyderabad-based infrastructure major IVRCL, has announced that Kotak Indian Realty Fund has committed to invest about Rs 250 crore. “The investment would be used for the ...
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OUTLOOK
Gulf Finance plans business zones in Mumbai
$10-b investment planned
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Assotech in talks with Canadian firm for raising $40 m
New Delhi, Dec. 14 Real estate company Assotech, which is developing the tallest building in National Capital Region, said it is in talks for raising foreign direct investment (FDI) up to $40 million (Rs 160 crore) from Canadian firm ...
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Birla Auto plans investing Rs 90 cr in components manufacture
Mumbai, Dec 14 Birla Auto & Engineering Group, which comprises Birla Precision Technologies, Birla Peruchinni, Indian Tool Manufacturers (ITM) and Dagger Forst, announced that the company will invest Rs 90 crore in auto component ...
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‘Nanomedicine is at the frontline of new drug delivery’
Dabur, Biocon join the Indian league
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