The Hindu Business Line : Wednesday, May 14, 2008

NEW BUSINESS
BEML gets Rs 777-cr SAIL contract
Bangalore, May 13 BEML said it has entered into an MoU with Steel Authority of India for supply and maintenance of heavy earth moving equipment and spares. The three-year sales and eight-year maintenance contracts are together worth Rs 777 ... More

PSL arm bags Japanese order
Pipe manufacturing company PSL Ltd said that its Sharjah-based subsidiary PSL FZE has received a $45-million order for steel pipes from Hanwa Co Ltd, Japan. The supply is for Nakheel Corporation’s Palm Beach Project. PSL FZE will supply 60 ... More

AWARDS & HONOURS
Natco Pharma gets national award
Hyderabad-based Natco Pharma Ltd has been conferred with the national award for its indigenous development of life saving anti-cancer drugs. The Technology Development Board’s annual award 2008, for successful commercialisation of ... More

FOREX
Varun Shipping makes Rs 62-cr provision for forex loss
Net profit up at Rs 225.8 cr on improved freight income More

CORPORATE BONDS
Deora seeks more oil bonds to cover firms’ losses
Finance Ministry may agree for covering 50% of Rs 70,579 cr More

NEW PROJECTS
Gujarat Paguthan gets Rs 445-cr ADB loan for wind energy projects
To be set up in Gujarat, Karnataka; capacity target at 183 MW More

Honda to start production of engine parts in September
New Delhi, May 13 Honda Siel Cars India said that production of its engine components would begin by September at its second plant in Rajasthan. “We will begin production of body parts, stamping at our new plant in Rajasthan,” said ... More

‘Withdraw export duty on steel products to finishing units’
Kolkata, May 13 Usha Martin Ltd will make a representation to the Union Ministries of Finance and Steel to withdraw the 10 per cent export duty on steel products, especially when such exports are made to finishing plants overseas that are ... More

Star Panel Boards to invest Rs 900 cr for expansion
Mumbai, May 13 Star Panel Boards Ltd will set up three units with a total capacity of one million cubic metres to manufacture medium density fibre and particle boards by 2014 with an investment of Rs 900 crore.Star Panels is a joint ... More

ALLIANCES & JOINT VENTURES
Tata, Israel Aerospace agree to make defence products
Mumbai, May 13 Mr Ratan Tata, Chairman of Tata Sons, and Mr Itzhak Nissan, President and CEO, Israel Aerospace, signed a framework agreement on Monday for the formation of a joint venture. The tie-up between Tata Advanced Systems Ltd ... More

DIVERSIFICATION
Sanjay Ghodawat to invest Rs 100 cr for wind turbine facility near Kolhapur
The Sanjay Ghodawat Group, having diverse interest from gutkha manufacturing to FMCG goods, plans to invest Rs 100 crore for a wind turbine facility near Kolhapur. American Superconductor Corporation has licensed its proprietary Windtec ... More

OUTLOOK
Hero Electric to work on making batteries cheaper
Chennai, May 13 It is great to bike around for just 10 paise per km, but then, in this world, nothing comes without a downside.Battery powered scooters are in—Hero, TVS, Ultra Motors have all launched their products and there are ... More

PEOPLE
L.G. Ramamurthi passes away
More

K.K. Swamy quits Toyota Kirloskar; may join VW
The man who hand held the launch of Toyota Motor Corporation in India and became its public face, the Deputy Managing Director of Toyota Kirloskar Motor Company, Mr K.K. Swamy, has resigned.The resignation comes at a time when the ... More