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CORPORATE
OUTLOOK:
More companies opt to trim man hours, cut production
Demand is slowing as credit crunch, high rates weigh on customer spending. Mumbai, Nov. 7 The economic slowdown has begun to hurt companies across industries forcing many top rankers to cut production, opt for reduced working hours and ...
OUTLOOK:
Cement firms’ cost of production rises 17 pc in Q2
Realisation for nine cos improves by 5%. Mumbai, Nov. 7 Nine major cement companies, which command a market share of 65 per cent, have reported a 17 per cent jump in cost of production to Rs 138 for a 50 kg bag in the second quarter of the ...
VENTURE CAPITAL:
Centre for Asia-Pacific Aviation to set up $250-m venture fund
‘Long-term story about the Indian aviation sector is very robust’. Aviation consultancy firm CAPA (Centre for Asia-Pacific Aviation) is setting up a venture fund worth $250 million for investments into general aviation sector and is ...
MERGERS & ACQUISITIONS:
‘Time to look for M&A opportunities’
There is also a brighter side to current financial crisis and its effect on the real economy, feels Mr Venu Srinivasan, Chairman and Managing Director, TVS Motor Company and Vice-President of Confederation of Indian Industry. Speaking at ...
REGULATORY BODIES & RULINGS:
Aurobindo depression drug gets nod
Aurobindo Pharma Ltd has received final approval from the US Food and Drug Administration (USFDA) to manufacture and market Sertraline Hydrocholride oral concentrate in 20 mg. The drug is the generic equivalent of Pfizer’s Zoloft ...
OVERSEAS INVESTMENTS:
OVL yet to get nod from Russia for Imperial takeover
ONGC Videsh Ltd (OVL) informed the London Stock Exchange (LSE) on Friday that it is yet to receive approvals from the Russian anti-monopoly authority for acquiring Imperial Energy Corporation Plc. The approval is required as the ...
NEW PROJECTS:
Gujarat NRE Coke setting up new plant in AP
Mumbai, Nov 7 Gujarat NRE Coke Ltd is in the process of setting up a one-million-tonne coke making plant near Krishnapatnam in ...
ALLIANCES & JOINT VENTURES:
Elgi Equipments forms venture with German co
Coimbatore, Nov. 7 Coimbatore-based air compressor manufacturer Elgi Equipments Ltd (EEL) has formed a joint venture company with J P Sauer & Sohn of Germany for the manufacture of air compressors to meet the requirements of the navy and ...
OUTLOOK:
Corus to further cut output by 30%; 400 jobs to go
Chennai, Nov. 7 Corus, a subsidiary of Tata Steel, on Friday said that it would cut crude steel production by about 30 per cent till ...
OUTLOOK:
JSW Steel to cut output by 20% in Nov
Mumbai, Nov. 7 Announcing a five per cent growth in crude steel production to 3.38 lakh tonnes for October over the corresponding period of last year, JSW Steel said it plans to rationalise its product mix and the production programme was ...
MERGERS & ACQUISITIONS:
Daiichi Sankyo completes Ranbaxy buy
New Delhi, Nov. 7 Ranbaxy Laboratories Ltd and Daiichi Sankyo Company Ltd announced the completion of their deal with the latter buying out the remaining equity shares of the Singh family in the Indian ...
PEOPLE:
BHEL R&D unit has new Executive Director
Hyderabad, Nov. 6. Dr A.L. Chandraker, Group General Manager of BHEL’s Corporate R&D Division, has been elevated to the Executive Director with effect from November ...
DIVIDEND ANNOUNCEMENT:
BEML declares 65% final dividend
Bangalore, Nov. 7 BEML Ltd has declared 65 per cent final dividend for the financial year 2007-08 in addition to the interim dividend of 55 per cent it paid during March ...
PEOPLE:
Essar Minerals gets new CEO
Mumbai, Nov. 7 Mr Pradeep Mittal has been appointed Managing Director and Chief Executive Officer for Essar Group’s mining business — Essar ...
DIVIDEND ANNOUNCEMENT:
BEL pays 147% final dividend
Bharat Electronics Ltd has paid its highest ever dividend of 207 per cent (or Rs 20.7 a share) for 2007-08. It said the Chairman and Managing Director, Mr V.V.R. Sastry, presented the final dividend cheque of 147 per cent or Rs 89.2 crore to ...
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