The Hindu Business Line : Thursday, September 25, 2008

CORPORATE

COURTS/LEGAL ISSUES: Zandu Pharma AGM called off
2 courts in Bengal restrain company from holding meeting. Mumbai, Sept. 24 It was an empty dais without the board of directors that greeted shareholders at what was to be Zandu Pharma’s 89th Annual General Meeting, until it was ...

RESTRUCTURING: Vedanta drops restructuring plan
Non-ferrous metals major Vedanta Resources on Wednesday announced shelving of its proposed group restructuring programme, which was intended to simplify its present corporate structure and eliminate conflicts of interest between the different ...

ALLIANCES & JOINT VENTURES: Volkswagen scouts for LCV partner in India
Hannover (Germany), Sept. 24 The Volkswagen group has plans to manufacture light commercial vehicles in India in co-operation with a local partner, and is currently in discussions with some companies for the purpose, according to Mr ...

OUTLOOK: Haldia Petro sees lower demand for its products
Inventory rises as buyers put off purchases. Kolkata, Sept. 24 Haldia Petrochemicals Ltd (HPL) seems to have been caught in the crossroads of short-term sacrifices for a longer-term ...

NEW PROJECTS: Fears of Tata Motors pulling out of Singur loom large
Fears of Tata Motors pulling out of Singur loomed large amidst reports that a few vendors had begun to move equipment from the ...

RESTRUCTURING: Sterlite moves up sharply; MALCO turns volatile
It's back to square one for the shareholders of Vedanta Group companies, Sterlite Industries and Madras Aluminium Company (MALCO) after the promoters on Wednesday shelved its proposed ...

INTERVIEW: ‘Fall in coal prices fails to benefit cement cos’
Mumbai, Sept. 24 The cement sector is plagued by the double whammy of softening demand and rising input cost. Coal seems to be a burning issue. With the marginal fall in international coal prices not trickling down due to rupee ...

PREFERENTIAL ALLOTMENTS: Arbitrage opportunity in Tata Steel pref shares
Convertible preference shares trade at 8.6% discount. Kolkata, Sept. 24 Tata Steel cumulative convertible preference shares (CCPS) are trading at 8.6 per cent discount to its ordinary shares creating a swap opportunity for ...

OUTLOOK: Greenko Group to start green power retailing from 2009
Hyderabad, Sept 24 Greenko Group, a Hyderabad-based renewable energy developer, plans to start green power retailing from the first quarter ...

COURTS/LEGAL ISSUES: Zandu Pharma moves SAT on open offer
Emami offer scheduled to open on Friday. Mumbai, Sept. 24 Zandu Pharmaceutical Works has appealed against SEBI’s clearance of the open offer by Emami for an additional 20 per cent of Zandu’s shares. And the issue comes up for ...

TRADE & LABOUR UNIONS: Chambers flay killing of CEO
Industry chambers have condemned the killing of the Italian multinational Graziano’s CEO, Mr L. K. Chaudhary, triggered by labour unrest at its manufacturing facility. “It is a tragic, unwanted and gory act of violence and we ...

NEW BUSINESS: L&T arm gets order
Larsen and Toubro’s newly formed ‘Buildings and Factories Operating Company’ has bagged orders totalling to about Rs 5,000 crore in the second quarter of 2008-09. The ordersare for building institutional, commercial, ...

NEW BUSINESS: Simplex bags Dubai order
Simplex Infrastructure Ltd today announced that it has bagged orders valued at Rs 630 crore for constructing the second tower of the Twin Tower complex in Dubai. The project is a 56-storey commercial tower is expected to be completed in 30 ...

OUTLOOK: Taj, Oberois evince interest in Maharashtra Govt projects
Mumbai, Sept. 24 Indian hospitality giants like Taj and Oberoi have shown interest in some of the tourism projects being developed by the Government ...

HUMAN RESOURCES: Renault-Nissan will recruit 5,000 people in 3 years
Mumbai, Sept. 24 French carmaker Renault with its joint venture partner Nissan is looking to recruiting 5,000 people in India in three years, said Mr Sylvain Bilaine, Managing Director, Renault ...

OUTLOOK: Greaves Cotton plans more agro equipment launch
Chennai, Sept. 24 To cash in on the dearth of labour in the farm sector and, as a result, increasing mechanisation, the Rs 1,350-crore Greaves Cotton group is planning to introduce more agro equipment, including tractors and tea pluckers, in ...

VENTURE CAPITAL: Millennium Spire to invest $300 m in real estate projects
New Delhi, Sept. 24 With falling real estate values in the US and the downturn in Indian property market making local valuations more attractive, real estate fund Millennium Spire — part of the UK-based Millennium Group — is ...

NEW PROJECTS: AP to woo Nano
Hyderabad, Sept. 24 The Andhra Pradesh Government is ready to offer an investment-incentive to the tune of over Rs 300 crore besides land to woo Tata Motors for setting up manufacturing facility for Nano in the ...

MERGERS & ACQUISITIONS: Plant Organics-SMS Pharma merger plan cleared
Hyderabad, Sept. 24 The Board of Industrial & Financial Reconstruction of India (BIFR) has approved the modified rehabilitation scheme for the merger of Plant Organics Ltd with SMS Pharmaceuticals Ltd with effect from January 1, ...

NEW PROJECTS: Saint-Gobain sets up plasterboard unit
Bangalore, Sept. 24 Saint-Gobain India Gypsum, leading provider of false ceiling and drywall partition solutions, has set up a manufacturing facility here with an investment of Rs 150 crore with a capacity to produce 15 million sq m ...

MERGERS & ACQUISITIONS: Ultra Motors to acquire vertical supply chain
Ahmedabad, Sept. 24 Ultra Motors Company (India) plans to acquire a vertical supply chain by January to boost its marketing strategy aimed at a projected turnover of $22 million (about Rs 90 crore) ...

SOFTWARE: John Energy deploys new Microsoft ware
Ahmedabad, Sept. 24 Intech Systems, an IT firm specialising in developing and implementing Microsoft Dynamics’ ERP solutions, has announced the successful implementation of Microsoft Dynamics’ IT solutions for John Energy Ltd, ...

RESTRUCTURING: Sterlite revamp call-off allays investors’ fears
As it was seen adversely impacting growth. The decision of Vedanta group to drop its restructuring plan resulted in a sharp jump in the stock of Sterlite Industries on Wednesday. As the aluminium and energy businesses would now remain under the ...