The Hindu Business Line : Thursday, March 05, 2009

CORPORATE

OUTLOOK: ONGC sees scope to negotiate with shipyards for lower prices
For twelve offshore support vessels. Mumbai, March 4 ONGC is looking at renegotiating the prices for 12 offshore support vessels with global and Indian shipyards that had submitted price bids in response to the oil explorer’s tenders ...

OUTLOOK: TN plant to make Italian tractors for sale in China
Same Deutz-Fahr India to expand capacity. Chennai, March 4 Same Deutz-Fahr India Private Ltd, the wholly owned subsidiary of €1.2 billion Same Deutz-Fahr Group, will soon become the sole manufacturing facility for engines that are ...

NEW PROJECTS: DLF to invest Rs 2,500 cr in projects near Chennai
Chennai, March 4 The DLF group is planning invest Rs 1,200 crore in a residence project meant for the mid-income group near Siruseri on the Old Mahabalipuram Road, south of Chennai, the company’s Executive Director – Southern ...

ANNOUNCEMENTS: Project in Chennai: DLF working out a scheme to refund EMD
Chennai, March 4 DLF Home Developers, which is putting up a 3,493 apartment township near Sholinganallur on the Old Mahabalipuram Road, is working out a procedure through which it could return the earnest money deposited by customers, to ...

MERGERS & ACQUISITIONS: Philips Healthcare targets mid-price segment through more acquisitions
Economic slump helping co fit in healthcare sector. Mumbai, March 4 With five acquisitions in the emerging markets in less than two years, Philips Healthcare is hungry for more inorganic growth in the region, as the company morphs from a ...

OUTLOOK: Satyam crisis might hit our biz: SanDisk
Hyderabad, March 4 The crisis in Satyam Computer Services seems to have triggered concern among its ...

OUTLOOK: Low prices may hamper NELP VIII: Reliance
‘May not be very attractive for investors’. The forthcoming auction of oil and gas assets may not be very attractive for investors, as the explorers are finding it difficult to meet their existing work commitments amid the global ...

NEW BUSINESS: ITT consortium wins $22-m deal in AP
To supply high-end pumps for 2 irrigation systems. A consortium, led by the $12-billion ITT Corporation, has been awarded a $22 million contract to supply a number of high-end water pumps for two irrigation systems to the Andhra Pradesh ...

OUTLOOK: United Spirits may place curbs on partner’s holding in company
Bangalore, March 4 Even though United Spirits has said it is willing to offer stake closer to that of the promoter, it may place restrictions on its joint venture partner on increasing its stake higher than that of the ...

NEW BUSINESS: Kalpataru Power bags PowerGrid order
Mumbai, March 4 Kalpataru Power Transmission has bagged orders worth Rs 373 crore from the Power Grid Corporation of India for supply of power ...

PERFORMANCE: Ashok Leyland Feb sales down 57%
Chennai, March 4 Ashok Leyland has reported a 57 per cent drop in February sales to 3,245 units against 7,501 units it sold in the corresponding period last year. However, the company’s sales increased by one-third over January, when ...

OUTLOOK: Tube Investments to focus on retail
Chennai, March 4 Tube Investments of India Ltd, part of the Murugappa Group, plans to introduce a few concepts to enhance its retail presence, such as renting out bicycles and offering to repair bicycles ...

ALLIANCES & JOINT VENTURES: BEML in pact with Indonesian firm for mining biz
Bangalore, March 4 BEML Ltd, the public sector mining and construction equipment manufacturer, has entered into a partnership with Sumber Mitra Jaya (SMJ) of Indonesia to bid for a contract mining business in India. The two companies ...

CORPORATE BONDS: IOC may sell bonds worth Rs 1,500 cr
New Delhi, March 4 Indian Oil Corporation Ltd (IOC) may consider selling oil bonds worth Rs 1,000-1,500 crore if it gets a good price, Mr S.V. Narasimhan, Director (Finance), Indian Oil ...

OUTLOOK: NTPC to borrow funds for expansion
New Delhi, March 4 NTPC Ltd plans to borrow around 70 per cent of the total Rs 17,700 crore it needs for expansion plans during 2009-10, a company official ...

REGULATORY BODIES & RULINGS: Aurobindo drug gets US FDA nod
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CREDIT RATING: Moody’s downgrades Tata Steel
Mumbai, March 4 Moody’s Investors Service has downgraded the corporate family rating of Tata Steel to Ba2 from Ba1 (speculative grade, judged to have questionable credit quality). The rating remains on review for possible further ...

NEW BUSINESS: Areva T&D gets Rs 60-cr deal
New Delhi, March 4 Electrical equipment maker Areva T&D India on Wednesday said it has bagged a contract for supply of hybrid gas-insulated substation worth Rs 60 crore to Rajasthan Rajya Vidut Prasaran Nigam ...

INTERVIEW: Security biz gearing up to tap opportunities
Hyderabad, March 4 While the general mood in the industry is down, and every one is struggling to come to terms with the impact of economic recession, one sector that is seeing robust growth is the ...

REGULATORY BODIES & RULINGS: Zydus unit gets accreditation
Cadila Healthcare Ltd (Zydus Cadila) on Wednesday announced that the Zydus Research Centre here has received full accreditation from the Association for Assessment and Accreditation of Laboratory Animal Care (AAALAC) International, making it ...

AWARDS & HONOURS: Tata Steel bags Global Peacock
Tata Steel has been awarded the Golden Peacock Global Award for corporate social responsibility (CSR) for 2009. The company was selected by the Golden Peacock Awards Jury under the co-Chairmanship of Dr Ola Ullsten, former Prime Minister of ...