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CORPORATE
MERGERS & ACQUISITIONS:
ONGC Videsh to acquire Imperial Energy for £1.4 b
Imperial shareholders will get 1,250 pence for each share held. New Delhi, Aug. 26 ONGC Videsh Ltd (OVL), the overseas investment arm of ONGC, on Tuesday shed the tag of being a non-aggressive player in the international M&A scene, with ...
MERGERS & ACQUISITIONS:
Imperial bid: OVL gets a fair deal in valuation
At $2.77 a barrel, valuation compares favourably with other cos. After the loss of PetroKazakhstan to China’s CNPC in 2005 and the subsequent false starts in Ecuador and Angola where it was outsmarted by its Chinese competitors, the ...
DIVERSIFICATION:
Hero Group looks to diversify into making small aircraft
Plans tie-up with German company; project to come up in SEZ in M.P.. New Delhi, Aug. 26 Two-wheeler major Hero Group plans to diversify into making small aircraft for both personal use and training purposes. ...
OUTLOOK:
EcoMobil of US plans to launch hydrogen generator kit
Eco-friendly Hfactor kit may bring down fuel costs by 30%. Bangalore, Aug. 26 A US-based company is all set to bring to India a hydrogen generator kit which can reduce fuel costs for passenger and other vehicles by as much as 30 per ...
NEW PROJECTS:
Nano will roll out from Singur in Oct: Buddhadeb
‘No possibility of returning 400 acres’. Kolkata, Aug 26 The Tata small car Nano will roll out of the Singur factory in October as scheduled, Mr Buddhadeb Bhattacharjee, West Bengal Chief Minister, told a gathering of industry ...
RESEARCH & DEVELOPMENT:
‘Industry should step up R&D investments’
Better tech capability for meeting Defence service needs. New Delhi, Aug. 26 The domestic industry will have to step up investment in research and development to improve its technological capability to meet the requirements of the defence ...
NEW BUSINESS:
Astra Microwave bags Met Dept order
Astra Microwave Products Ltd, a leading provider of microwave wireless communications technologies for use in defence, space, and civilian applications has received a Rs 25.5-crore order from the India Meteorological Department (IMD). The order ...
NEW BUSINESS:
BHEL bags Rs 140-cr UAE order
State-owned Bharat Heavy Electricals Ltd (BHEL) announced on Tuesday it had won a contract for export of two gas turbine generating units worth Rs 140 crore in the United Arab Emirates. The order, from International Energy Resources, is for two ...
MERGERS & ACQUISITIONS:
FIPB approves Daiichi-Ranbaxy deal; Cabinet panel to take final call
New Delhi, Aug. 26 Amid the ongoing open offer by Daiichi Sankyo to acquire an additional 20 per cent stake in Ranbaxy Laboratories, the Foreign Investment Promotion Board (FIPB) on Tuesday approved the Daiichi-Ranbaxy deal entailing an FDI ...
PEOPLE:
Ravi Uppal quits ABB
Bangalore, Aug. 26 Mr Ravi Uppal, President of Global Markets and a member of the ABB Group Executive Committee since July 2007, has decided to relinquish his position for personal reasons and plans to return to India to pursue a career ...
NEW PROJECTS:
‘MRPL third phase work not within Mangalore SEZ’
The third phase work of Mangalore Refinery and Petrochemicals Ltd (MRPL) is outside the Mangalore SEZ (special economic zone) project, even though Mangalore SEZ Ltd (MSEZL) is handling the land acquisition and rehabilitation and resettlement ...
COURTS/LEGAL ISSUES:
HC restrains 2 cos from using ‘Omega’ trade mark
Ordering decree in favour of a Switzerland firm, Omega S.A., the Madras High court restrained by an order of permanent injunction, the Hyderabad-based Avanti Kopp Electricals and the Chennai-based Sona Electric Corporation from manufacturing ...
MERGERS & ACQUISITIONS:
S. Kumar’s new cotton fabrics plant to focus on global markets
Co to buy European fabric maker worth €40-60 m. Ahmedabad, Aug. 26 Textile major S Kumars Nationwide Ltd is expecting an addition of Rs 300 crore to its topline as its greenfield project in High Value Cotton Fabrics (HVFC) at Jhagadia ...
PERFORMANCE:
Unity Infraprojects’ profits hit despite insulation against price rise
Inflation pressures see profit margin diminishing. Mumbai, Aug. 26 Though pure play construction companies such as Unity Infraprojects Ltd have insulated themselves from the vagaries of price rise in raw materials, such as steel and cement, ...
OUTLOOK:
RIL to transfer KG D6 block interest to four subsidiaries
Mumbai, Aug. 26 Reliance Industries Ltd said on Tuesday that it proposes to transfer 80 per cent participatory interest in KG D6 block in the Krishna-Godavari basin oil and gas fields to its four wholly-owned ...
NEW PROJECTS:
SAIL lays foundation stone for steel processing unit in Gwalior
New Delhi, Aug. 26 The Steel Authority of India Ltd’s programme to set up steel processing units (SPUs) in far flung areas to cater directly to customer specifications went a step ahead today with the laying of the foundation stone of ...
OUTLOOK:
Cairn hopes to produce 16% more oil from Rajasthan fields
Cairn India has revised the oil production forecast from its Rajasthan fields. The company is expecting to produce 16 per cent more oil, at 175,000 barrels a day from the earlier estimate of 150,000 barrels a day, once it starts production in ...
MERGERS & ACQUISITIONS:
My Home Group picks up 10% in Pennar Industries
Hyderabad, Aug. 26 JR Realtor Service has picked up approximately 10.28-per cent stake in the Hyderabad-based, Pennar Industries Ltd on Tuesday. ...
MERGERS & ACQUISITIONS:
C&S acquires partner’s stake in JV
Power equipment maker Controls & Switchgear Group (C&S) has announced the acquisition of the 50 per cent stake held by its partner Gewiss SpA (Italy) in Controls & Switchgear GEWISS India Pvt Ltd — its modular wiring devices, ...
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