Business Daily from THE HINDU group of publications
Wednesday, April 22, 2009
ePaper | Mobile/PDA Version | Audio | Blogs
Business Daily from THE HINDU group of publications Wednesday, April 22, 2009 ePaper | Mobile/PDA Version | Audio | Blogs |
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MERGERS & ACQUISITIONS: Wipro buys Nokia’s mobile TV unit Bangalore April 21 Wipro Technologies, the global IT arm of Wipro Ltd, has acquired the Mobile Broadcast Solutions unit of cellular handset maker Nokia for an undisclosed ... NEW PROJECTS: Reliance Power achieves financial closure for Sasan project Co raises debt from a consortium of banks and financial institutions. Mumbai, April 21 Reliance Power Ltd has achieved financial closure for its Sasan Ultra Mega Power ... CORPORATE GOVERNANCE: Satyam scam: Forensic auditors yet to complete report ‘Conclusive findings on funds diversion have not been established’. New Delhi, April 21 Clarity on the extent of the financial fraud committed in Satyam Computer Services Ltd will emerge only after the forensic auditors – ... OVERSEAS INVESTMENTS: Singapore confers global HQ status on KS Oils arm KS Natural will enjoy tax incentives on achieving staff strength, turnover targets. Singapore, April 21 K.S. Natural Resources Pte Ltd (KSNR), a 100 per cent subsidiary of K.S. Oils Ltd of Morena in Madhya Pradesh, has been conferred the status ... OUTLOOK: Hitex bucks recession, confident of growth this fiscal 38 global expos so far, against last year’s 22. Hyderabad, April 21 While exhibitions, especially organised trade shows, are on the decline globally, Hyderabad International Trade Expositions Ltd (Hitex), which boasts of the latest ... ALLIANCES & JOINT VENTURES: Vectra Group forms joint venture with Kamaz Russian truck maker to invest $13 m in the venture. Bangalore, April 21 The joint venture between the Vectra Group and the Russian truck maker Kamaz Inc expects to get a 10 per cent share of the heavy duty truck market in India and plans to ... ANNOUNCEMENTS: Matrix selected to supply HIV drugs Matrix Laboratories Ltd has been selected by the Clinton HIV/AIDS Initiative (CHAI), as the primary supplier of five anti-retroviral (ARVs) drugs. These ARVs are used as second line of treatment for HIV/AIDS. Matrix has also been selected as ... CORPORATE BONDS: RBI eases FCCB buyback norms further To increase permissible amount to $100 m. Mumbai, April 21 The Reserve Bank of India on Tuesday further eased norms for Indian companies to use their internal accruals for buy-back of their foreign currency convertible bonds, as corporate houses ... DIVIDEND ANNOUNCEMENT: UltraTech Q4 net up 9%; to pay Rs 5/share Mumbai, April 21 The Aditya Birla group company UltraTech Cement has posted higher profits for the fourth quarter of the last fiscal. For the full year net profit was down three per cent at Rs 977 crore. Higher volume helped offset rising ... OVERSEAS INVESTMENTS: TKM opens office in Shanghai to handle freight forwarding Revenue in 2008-09 may touch Rs 125 cr. Kolkata, April 21 TKM, the wholly-owned subsidiary of TM International Logistics, the joint venture between Tata Steel and Germany’s Martrade, has opened an office in Shanghai to undertake freight ... ALLIANCES & JOINT VENTURES: Universal Cables, Japan’s Furukawa in joint venture for optical fibres Kolkata, April 21 M P Birla Group’s Universal Cables has signed a joint venture agreement with Japan’s Furukawa Electric for manufacturing optical fibres in Goa. Mr D.R. Bansal, CEO of Universal Cables, told ... OUTLOOK: Global Vectra to invest $130 m in next two years Bangalore, April 21 Global Vectra Helicopters, part of the $800-million Vectra Group, plans to invest $130 million during the next two years to increase its fleet strength as well as consolidate ... RESEARCH & DEVELOPMENT: J&J Pharma R&D sets up facility in Mumbai Mumbai, April 21 As part of its Asia research cluster, Johnson & Johnson (J&J) Pharmaceutical Research and Development has set up a research facility that will be part of its global development of new ... ANNOUNCEMENTS: Rashtriya Chem to restart production at urea unit Mumbai April 21 State-owned Rashtriya Chemicals and Fertilisers Ltd (RCFL) will shortly restart production from its 3.3 lakh tonne a year urea plant. This follows the signing of a gas supply and transportation agreement with Reliance ... OPEN OFFERS: Spice Mobile’s open offer to begin on June 11 New Delhi, April 21 Spice Mobiles said its promoter Spice Televentures’ Rs 16.27-crore open offer for a 20 per cent stake in the company will begin on June 11. Spice Televentures would acquire up to 1,49,27,600 shares at a price of Rs ... ALLIANCES & JOINT VENTURES: Gitanjali, MMTC in pact to set up retail outlets New Delhi, April 21 Jewellery manufacturer and retailer Gitanjali Group and MMTC have entered into a joint venture to set up a chain of exclusive retail outlets called Shuddi – ... OUTLOOK: Sesa Goa: Concerns on demand still persist Chinese negotiations with iron ore producers will be crucial. The decline in spot iron ore prices coupled with low off-take has dragged down Sesa Goa’s sales by 6.4 per cent in the March quarter over the same period last ... COURTS/LEGAL ISSUES: Verdict against UK arm may affect Punj Lloyd’s earnings UK-based subsidiary has already hit December quarter earnings. Punj Lloyd’s December quarter numbers were saddled with its UK-based subsidiary Simon Carves’ cost overruns and invocation of guarantee by client ... Columnists: • C Gopinath • Harish Bijoor • Ramanujam Sridhar • Radhika Chada • K Srikrishna Comments & Letters to the Editor to: bleditor@thehindu.co.in Subscribe to: Business Line |
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