CORPORATE
ANNOUNCEMENTS
Cipla gets notice on ‘overcharging’
Cipla Ltd has received a demand notice from the Government amounting to Rs 27.30 crore inclusive of interest for alleged overcharging by the company between December 2003 and June 2007 on the antibiotic Ciprofloxacin. The demand is contrary to ...
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DIVIDEND ANNOUNCEMENT
MRO Tek to pay 20% interim
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NEW BUSINESS
L&T bags Gulf orders worth Rs 1,057 cr
Construction of grid stations, sub stations
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Larsen & Toubro’s exports on a roll
To benefit from capex spending in West Asian region
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FINANCIAL PERFORMANCE
Grasim: Non-cement businesses drive growth
Better performance from the sponge iron could help
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IPR
Suven bags US product patent
Suven Life Sciences Ltd has bagged a second product patent from the US for its selective serotonin receptor affinity compounds, which are being developed as therapeutic agents. According to the invention patent disclosure, the compounds were ...
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RESTRUCTURING
Essar Shipping to be reorganised
Move to align the Group’s logistics infrastructure related cos under one roof
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MERGERS & ACQUISITIONS
Deccan-Kingfisher merged entity to raise $250 m for capex
Issue to be taken up at Deccan board meet on Jan 30
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Phoenix Mills to merge with Ruia Real Estate
Mumbai, Jan. 23 The board of Phoenix Mills Ltd has approved the amalgamation of Ruia Real Estate Development Company Pvt Ltd (RREDCPL) with the company. Accordingly, RREDCPL shareholders holding six equity shares will be issued 11 equity ...
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NEW PROJECTS
TNPL to start work on mill expansion by May
Chennai, Jan. 23 Tamil Nadu Newsprint and Papers Ltd hopes to start work on its Rs 725-crore mill expansion plan by May.According to official sources, the mill expansion plan will take the paper production capacity to 4 lakh tonnes (lt) ...
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OVERSEAS INVESTMENTS
Gujarat NRE Australian arm lines up A$300-m investment for mining
Kolkata, Jan. 23 Gujarat NRE Group company India NRE Minerals Ltd, which is listed on the Australian Stock Exchange, has firmed up plans to invest A$300 million in mining initiatives in Australia. This follows the consolidation of two ...
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Rico looking to set up manufacturing facility abroad
New Delhi, Jan. 23 Auto component maker Rico is looking to set up an overseas manufacturing unit in Eastern Europe or Thailand in a bid to boost its competitiveness. The company’s Managing Director, Mr Arvind Kapur, told More
GSPC may enter into profit sharing pact with Egypt govt
Oil, gas exploration in 2 blocks
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RIGHTS ISSUE
Jet looking for other funding sources
Mumbai, Jan. 23 While Jet Airways is firm on going ahead with its $400-million (Rs 1,582 crore) rights issue by the current fiscal, given the unfavourable stock market conditions the airline is now mulling to raise money through other sources ...
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OUTLOOK
Strategic partner for Prize Petroleum likely by March
Rights issue to expand equity base planned
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Varun Shipping plans $400-m capex; Q3 net up 85%
Mumbai Jan 23 Varun Shipping has lined up a capital expenditure programme of $400 million for acquisition of new vessels in 2008, with a sharper focus on offshore services. The company owns a fleet of 20 vessels, operating in the LPG, crude ...
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