CORPORATE
NEW BUSINESS
NCC bags Rs 333 cr worth orders
Nagarjuna Construction Company Ltd (NCC) has secured three new orders aggregating Rs 333 crore from Maharastra and Karnataka governments. The first order valued at Rs 159 crore (40 per cent of Rs 398 crore) under NCC-SMC-INDU (joint venture) is ...
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RESTRUCTURING
LGB to sell industrial chain division
Coimbatore, June 25 The city-based automotive component manufacturer L. G. Balakrishnan & Bros Ltd (LGB) is selling its industrial chain unit to Renold plc of UK, a leading industrial chain manufacturer with a group turnover of £159.3 ...
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Apollo Hospitals to hive off pharma retailing into separate co
Chennai, June 25 Apollo Hospitals Enterprise Ltd intends to spin off its pharma retailing business into a separate company, though not immediately.At present, the company has 642 pharmacies across the country and the plan is to raise ...
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CORPORATE GOVERNANCE
‘Stress on independence of directors’
Independent directors in public sector enterprises should make positive contribution to the company and not derive value from it, the Standing Conference of Public Enterprises (Scope) said here today. The Director-General of Scope, Dr S.M. Dewan, ...
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OVERSEAS INVESTMENTS
GMR acquires 50% stake in US power co Intergen
Will be joint owner with Teachers’ of Canada
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German co to set up solar testing lab
The 136-year-old TUV Rheinland, global service provider for quality testing and certification, is set to establish its fourth testing laboratory facility focused on solar technologies in India. “Our target is to set up the ...
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Neo Corp buys UK co for $2.5 m
Ahmedabad, June 25 Indore-based technical textiles company Neo Corp International Ltd acquired UK-based Euro Plast Ltd for a sum of $ 2.5 million, Mr Sunil Trivedi, Managing Director, Neo Corp, told Business Line. The ...
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Essar Indonesia's service centre
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REGULATORY BODIES & RULINGS
Ranbaxy gets tentative USFDA nod for AIDS drug
New Delhi, June 25 Ranbaxy Laboratories Ltd announced on Wednesday that the company has received tentative approval from the US Food and Drug Administration to manufacture and market generic version of Roche’s Valcyte used in treating ...
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ALLIANCES & JOINT VENTURES
Itero Biopharma inks pact with Biological E.
Hyderabad, June 25 Itero Biopharmaceuticals Inc has inked a broad-ranging partnership with the Hyderabad-based Biological E. Ltd (BE). It has also announced the raising of $21 million venture financing. The focus of the partnership ...
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SOCIETY & DEVELOPMENT
RPG group seeks land to set up school
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OUTLOOK
Ozone Group launching drugs at 50% lower price
No compromise on quality, says CMD
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Philips Healthcare looks at popularising life-saving device
Someday soon, your car could have a life-saving device riding alongside the audio, the TV, the satellite navigator and other fixtures. That is, if medical equipment manufacturers succeed in making their point.Cars, aircraft, trains, ...
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Ford to revisit Ikon’s export strategy
Bangalore, June 25 Ford India will revisit its export commitments as its passenger car Ikon’s export, mainly to South Africa, has seen a significant drop.The car maker will also finetune its strategy towards domestic sales of ...
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Volkswagen to use Indian vendors for global small car
In talks with firms for various parts
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Jain Irrigation plans commercial production of tomato pulp this year
Talks on with major players to sell the produce
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Tatas likely to roll out first batch of Nano by October
Ancillary units in Singur expected to be ready by then
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Electrosteel Casting to start work in Jharkhand mine next year
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Consolidated Const to focus on infrastructure
Chennai, June 25 The Chennai-based Consolidated Construction Consortium Ltd (CCCL) plans to set up an SEZ for food processing industries in Tuticorin.According to Mr R. Sarabeswar, Chairman and Chief Executive Officer, CCCL, the company ...
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PERFORMANCE
Amara Raja’s sales cross Rs 1,000 cr, 1:2 bonus declared
Chennai, June 25 Amara Raja Batteries’ turnover has crossed the Rs 1,000-crore mark for the first time . The company’s net sales for 2007-08 were Rs 1,109 crore, compared with Rs 605.57 crore for the previous year.The ...
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