The Hindu Business Line : Wednesday, September 17, 2008

CORPORATE

NEW PROJECTS: Mamata softens stand on ancillary units in Singur
Kolkata, Sept. 16 The future of the Tata Motors small car project in Singur continues to remain uncertain even as Trinamool Congress leader Ms Mamata Banerjee conceded on Tuesday that she would have no objection to ancillary units being set ...

OUTLOOK: Reliance Infra hopes for EPC contracts in nuclear energy
Also explores opportunities in steel, cement, shipping sectors. Mumbai, Sept. 16 Reliance Infrastructure Ltd will pursue EPC contract opportunities in nuclear energy, as and when the sector opens up for private sector participation, said Mr ...

INTERVIEW: Rolls-Royce pinning hopes on RR-4 model
Company bullish on rising number of high net worth individuals. Mumbai, Sept. 16 The formal inauguration of the second dealership in India, the upcoming India launch of Phantom Coupe and preparations for the relatively less pricey brand new ...

ALLIANCES & JOINT VENTURES: Norway’s Rocksource to partner ONGC in Cauvery block
$20-m investment for first phase exploration. New Delhi, Sept. 16 Norwegian exploration and production company Rocksource ASA has signed an agreement with public sector major ONGC to pick up 10 per cent stake in latter’s Cauvery ...

MERGERS & ACQUISITIONS: Emami open offer price revision
Provides attractive exit for Zandu Pharma shareholders. The sharp upward revision in the open offer price by the Emami group to mop up a 20 per cent stake in Zandu Pharmaceuticals provides a good exit opportunity to Zandu’s shareholders, ...

NEW PROJECTS: HIL starts new plant at Balasore
Hyderabad Industries Ltd (HIL) commenced operations at its new fibre sheet cement plant at Balasore, Orissa. The plant, set up with Rs 30 crore, has an installed capacity of 1.25 lakh tonnes which can go up to 2.5 lakh tonnes according to ...

PEOPLE: Devesh Garg in Sunil Hitech board
Mr Devesh Garg, Managing Director of Bessemer Venture Partners, has been inducted into the board of directors of Sunil Hitech Engineers Ltd. The Sunil Hitech Chairman and Managing Director, Mr Ratnakar M. Gutte, said Mr Garg’s ...

NEW PROJECTS: Financial closure for GAIL’s Assam project likely in 2 months
Investment estimated at Rs 5,460 cr; to be completed by 2012. Guwahati, Sept. 16 The financial closure for the gas cracker project of GAIL (India) in Lapetkata in Dibrugarh district is expected to be finalised in the next two months, according ...

COURTS/LEGAL ISSUES: HC sets aside CST assessment orders for not allowing personal hearing of assessee
Chennai, Sept. 16 Two Central sales tax assessment orders of the Commercial Tax Officer (CTO), Srirangam Assessment Circle, in respect of a Tiruchi steel unit, were set aside by the Madurai Bench of Madras High Court as the CTO had refused ...

OUTLOOK: Andrew Yule to complete jt venture divestment by March
Plans re-launch of packet tea brands. Kolkata, Sept. 16 Andrew Yule and Co Ltd, a central PSU, hopes to complete divestment of its belting joint venture, Phoenix Yule Ltd, and power utility, DPSC Ltd, by March, 2009. The disinvestment process is ...

OUTLOOK: Bulk drug production should be scaled up: Dr Reddy’s
Hyderabad, Sept. 16 Manufacturers of bulk drugs should invest in scaling-up their product diversity and quality, said Mr G.V. Prasad, Vice-Chairman and Chief Executive Officer of Dr Reddy’s ...

NEW PROJECTS: Left urges ‘unwilling farmers’ to accept latest compensation
Kolkata, Sept. 16 The ruling Left Front on Monday held a mammoth rally in Singur as part of its endeavour to reach out to the “unwilling farmers” and impress upon them the spin-off economic benefits of the Tata Nano project and ...

BUYBACK: Rain Commodities to buy back shares
Rain Commodities Ltd will be buying back its fully paid-up equity shares of the face value of Rs 10 each from the existing shareholders through the ...

VENTURE CAPITAL: Pan Atlantic invests $10 m more in Sobha Developers’ SPV
Bangalore, Sept 16 The Dubai-based Pan Atlantic LLC has invested an additional $10 million to increase its stake by 30 per cent to 70 per cent in the special purpose vehicle floated by Sobha Developers for its residential project in ...