The Hindu Business Line : Thursday, October 02, 2008

CORPORATE

COURTS/LEGAL ISSUES: SC appoints new technical member for Glivec case
Mumbai, Oct. 1 All decks seem to have been finally cleared for the review of the rejection of Novartis’ patent on its cancer drug Glivec. The Supreme Court has appointed Dr P.C. Chakraborty, of the Patent Office in Kolkata, as ...

OUTLOOK: ONGC will invest over Rs 5,000 cr in 4 years
Revamping three of the company’s main assets. Oil and Natural Gas Corporation of India will invest more than Rs 5,000 crore over the next four years to revamp three of their main assets and one sub-asset, said Mr A. K. Hazarika, Director, ...

MERGERS & ACQUISITIONS: Tata Steel Global buying 19.9% in New Millennium
The Canadian co is into development of iron ore properties. Mumbai, Oct. 1 Tata Steel Global Minerals Holdings Pte Ltd, Singapore, a wholly owned indirect subsidiary of Tata Steel Ltd, will acquire 19.9 per cent in New Millennium Capital ...

INSURANCE: United India bags IOC’s mega policy
To share risk through syndication with other public insurers. Bangalore, Oct. 1 Public sector United India Insurance Company Ltd (UIIL) bagged the prestigious Indian Oil Corporation mega risk cover at a premium of Rs ...

OVERSEAS BORROWINGS: Voting with hands and feet
Shareholders in India normally exercise their rights by raising one of their hands in support of or against a motion. This embodies the one man one vote principle which may be fine in political democracy but not in ...

OUTLOOK: Fortis Healthcare to invest Rs 20 cr in Malar Hospital
Chennai, Oct. 1 Fortis Healthcare expects to invest Rs 20 crore to upgrade Malar Hospital. (International Hospitals, a wholly-owned subsidiary of Fortis Healthcare, paid Rs 34.6 crore for a 48.8 per cent stake in Malar Hospital in ...

ANNOUNCEMENTS: Production of new Audi A4 starts in India
Pune, Oct. 1 Audi AG has announced the start of local assembly of the new Audi A4. This is the second Audi model to be produced at the group plant in Aurangabad after the Audi ...

NEW BUSINESS: Lanco consortium gets LI for Vizhinjam port
Lanco Infratech Ltd has secured a letter of intent (LI) from the Kerala Government for development of the Rs 8,300 crore Vizhinjam International Transhipment Terminal ...

OVERSEAS BORROWINGS: ‘Credit demand picking up’
Fall-out of ECB slowdown: M.V. Nair. Kochi, Oct. 1 After a temporary lull during the first quarter of the current fiscal, demand for credit has begun to pick up in the Indian ...

MERGERS & ACQUISITIONS: Panacea Biotec picking up 14.5% stake in PharmAthene
New Delhi, Oct. 1 Health management company Panacea Biotec Ltd announced that it will pick up 14.5 per cent stake in US-based PharmAthene, Inc for $13.1 million. PharmAthene is a bio-defense company developing medical countermeasures ...

OUTLOOK: Jain Irrigation to invest Rs 350 cr for expansion
Jalgaon, Oct. 1 Despite the turbulent market conditions, Jain Irrigation Systems Ltd will invest Rs 350 crore in the financial year 2009 to increase pipe manufacturing and irrigation systems capacity besides exploring new opportunities in ...

OUTLOOK: IOC targets financial closure of Paradip refinery project by Nov
Talks with banks, financial institutions complete. Kolkata, Oct. 1 IndianOil hopes to achieve financial closure of the proposed Rs 30,000-crore grassroots refinery project at Paradip in Orissa by ...

MERGERS & ACQUISITIONS: BMR Advisors takes over Chennai tax firm
New Delhi, Oct. 1 BMR Advisors, a tax advisory firm, is expanding its presence in the South by taking over a Chennai-based tax advisory firm, K Ravi ...

OUTLOOK: Gremach in talks to sell stake in Mozambique arm
Mumbai, Oct. 1 Gremach Infrastructure, which has struck coal in Mozambique, is in advanced stage of talks with an Indian steel producer and three foreign mining and steel companies for 5 to 10 per cent equity sale in its Mozambique mining ...

NEW BUSINESS: L&T bags Rs 552-cr PBEL order
Hyderabad, Oct. 1 L&T, the infrastructure major, has bagged a Rs 552-crore order from PBEL, an Indo-Israeli joint venture real-estate developer, for the construction of PBEL ...

OUTLOOK: Genomic centre expanding facilities
Hyderabad, Oct. 1 The Centre for Genomic Application (TCGA), a public-private initiative to support genome research in India, is expanding its ...

DIVERSIFICATION: Adani to set up medical college near Bhuj at Rs 100-cr investment
Ahmedabad, Oct. 1 In the first public-private partnership (PPP) in the fields of health and medical education in India, the Adani Group will set up a medical college at Bhuj with a capital investment of Rs 100 crore over the next four years ...

OUTLOOK: Citec Engg plans doubling capacity
Chennai, Oct. 1 Citec Engineering India Private Ltd, the fully owned subsidiary of Citec Engineering based in Finland, has firmed up plans to double its capacity in two ...

ANNOUNCEMENTS: LG Balakrishnan's venture
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