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CORPORATE
MERGERS & ACQUISITIONS:
Emami acquires controlling stake in Zandu
Kolkata, Oct. 16 The Parikh family, the existing promoters of The Zandu Pharmaceuticals Works Ltd, has agreed to sell 18.18 per cent strategic stake to Emami Ltd at a total price of Rs 242 crore, including a non-compete fee of Rs 22 crore. ...
OUTLOOK:
Major launch of Nano in second half of 2009
Soft launch by this year-end; vendors assured help. Mumbai, Oct. 16 The major launch of Nano would be in the second half of next year, vendors of the Tata Motors were told at a meeting held in Mumbai on ...
OUTLOOK:
IOC likely to benefit from foreign currency movements
Has ‘natural’ risk cover due to dollar–denominated product pricing. Kolkata. Oct. 16 At a time when all eyes are fixed on the sharp depreciation of the rupee vis-À-vis dollar and its possible negative impact on the foreign ...
OVERSEAS INVESTMENTS:
XL Tele’s solar power plant in Spain
XL Telecom & Energy Ltd has set up a 1.6-MW solar power plant in Majorca, Spain, with an investment of €9.5 million. The plant is the first in the series of plants (solar farms) the Hyderabad-based company is planning to set up in ...
ALLIANCES & JOINT VENTURES:
Choice Hospitality-Astrix in tie-up
Choice Hospitality India has tied up with Pune-based Astrix Group to set up a 75-room hotel near Hinjewadi in Pune. The hotel, Comfort Inn, which will involve a cost of Rs 25 crore, will be launched early next year. According to the agreement, ...
RIGHTS ISSUE:
Tata Motors rights issue gets lukewarm response
Impact of meltdown in stocks. Mumbai, Oct. 16 The meltdown in the stock markets had its impact on the rights issue of Tata Motors. According to merchant banking sources, the issue has received lukewarm response so far from the public ...
OUTLOOK:
Hyundai Motor aims at 22% market share this year
Hyderabad, Oct. 16 Stepping up production levels with a new manufacturing base, Hyundai Motor India Ltd is aiming at a market share of 21 to 22 per cent during the current year, up from 17 per cent ...
MERGERS & ACQUISITIONS:
Ranbaxy promoters told not to offload through block deal
Mumbai, Oct. 16 Ranbaxy Laboratories’ promoters have been directed by the stock market regulator not to offload their stake to Japanese drug-maker Daiichi Sankyo through a block deal on the stock ...
RIGHTS ISSUE:
Underwriters to invest Rs 1,718 cr in Hindalco
Mumbai, Oct. 16 With a poor response from the retail and institutional investors, Hindalco Industries rights issue has finally devolved on the underwriters. The five underwriters including ABN Amro Asia Equities, Citigroup Global ...
NEW PROJECTS:
Maithan Alloys to set up Rs 275-cr unit in AP
Hyderabad, Oct. 16 Kolkata-based Maithan Alloys Ltd will be investing Rs 275 crore for setting up a ferro alloys unit in the SEZ at Achutapuram ...
ANNOUNCEMENTS:
Corus to cut crude steel output over the next 3 months
Mumbai, Oct. 16 Tata Steel Group’s UK subsidiary Corus has decided to cut crude steel production by one million tonnes – a 20 per cent reduction – over the next three ...
RESEARCH & DEVELOPMENT:
Ranbaxy to start human trials for anti-malarial drug
New Delhi, Oct. 16 Ranbaxy Laboratories Ltd has announced that it has obtained approval from the Drug Controller General of India to initiate Phase III human clinical trials in India for its new anti-malaria combination ...
PEOPLE:
Kingfisher Airlines cuts loss; rejigs board
Bangalore, Oct. 16 Kingfisher Airlines has announced its first results after taking over Deccan Aviation for the nine-month period ending March 31, 2008, with the airline’s net loss coming down by 24 per cent to Rs ...
RIGHTS ISSUE:
Chettinad Cement revives Rs 250-cr rights issue proposal
Chettinad Cement Corporation Ltd has approved and revived an earlier proposal for a rights issue to its shareholders to raise Rs 250 crore, according to information provided by the company to the ...
NEW PROJECTS:
Honda Siel plans second small car
Kolkata, Oct. 16 Honda Siel Cars India Ltd plans to launch a second small car in India within a span of three to four years, Mr Jnaneswar Sen, Vice President-Marketing, Honda Siel Cars India, ...
ALLIANCES & JOINT VENTURES:
Piaggio Aero, Tata Air tie up
...
OUTLOOK:
GM hopes for 20% growth in second half
New Delhi, Oct. 16 General Motors India hopes to grow at 20 per cent in the second half of the fiscal, following the increased capacity at its new plant in Talegaon in ...
NEW PROJECTS:
Cosma plans new facility in Pune
Pune, Oct 16 Automotive body and chassis systems supplier Cosma International announced the establishment of a new facility, its second in India, at Pune. Cosma already has a product and process engineering services group in ...
RESEARCH & DEVELOPMENT:
Syngene listing not now
Bangalore, Oct. 16 The market meltdown has put paid to one more listing plan for now: that of Biocon’s custom research subsidiary, ...
ANNOUNCEMENTS:
Xenos launches vehicle security systems
Coimbatore, Oct. 16 Automobile accessories company, Xenos Technologies, has introduced its new range of vehicle convenience and security systems under the ...
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