The Hindu Business Line : Tuesday, August 04, 2009

CORPORATE

CORPORATE DISPUTES: Govt will protect its right to use, allocate gas: Deora
Gas supply to Dadri plant will depend on availability. New Delhi, Aug. 3 Spelling out the Government’s position on the allocation of gas from the Krishna-Godavari Basin’s D6 gas field, the Petroleum Minister, Mr Murli Deora, told ...

PERFORMANCE: Tata Motors revs up in July
Sales rise; Nano clocks 2,475 units on debut. Mumbai, Aug. 3 July was a good month for Tata Motors from the viewpoint of passenger car and commercial vehicles sales. It was also memorable, since it kicked off the debut sales figures of ...

NEW BUSINESS: L&T hits Rs 5,300-cr ONGC gusher
Mumbai, Aug. 3 L&T has bagged two offshore platform contracts from the Oil and Natural Gas Corporation for Rs ...

OUTLOOK: Indian Hotels may explore new debt servicing options
New projects, renovations led to higher borrowings last fiscal. Mumbai, Aug. 3 Indian Hotels Company, which operates the Taj Group of Hotels, could look at new ways to service its ...

SICK UNITS: Efforts on to reopen SPIC unit, says Azhagiri
Fertiliser Ministry mulls allowing PSUs to infuse funds. Chennai, Aug. 3 The Fertiliser Ministry is working on various options to get SPIC’s fertiliser plant into operation, according to the Union Minister for Chemicals and Fertilisers, ...

INTERVIEW: ‘RIL-RNRL gas deal is not a private arrangement’
New Delhi, Aug. 3 This is not the first time that the Ambani brothers have fought their battles in public. This time it is over the natural gas produced from Mukesh Ambani-led Reliance Industries Ltd’s (RIL) D6 block ...

OUTLOOK: Mercedes sees better sales volume in second half
Hyderabad, Aug. 3 German luxury car maker Mercedes Benz-India on Monday hinted that the company is poised for a better second half with the market getting better by the day. It is gearing up to launch a new E-Class range ...

OUTLOOK: SAIL production rises in July
Steel Authority of India (SAIL) has produced 1.08 million tonnes (mt) of saleable steel in July this year, a 14 per cent increase in production from the same period the previous year. In a statement the company said sales at 1 mt registered a ...

COMPANY LAW: Companies Bill, 2009 introduced in LS
New Delhi, Aug 3 The Corporate Affairs Minister, Mr Salman Khurshid, on Monday introduced in the Lok Sabha a new Bill that seeks to replace the existing Companies Act ...

OUTLOOK: ‘Nano’ fever grips Tata cos
Chennai, July 3 With the success of the Nano car, the word ‘Nano’ has become a buzzword within the Tata group, with practically every company of the group wanting to do some ‘Nano’ (low-cost) project, Mr ...

PERFORMANCE: India Cements’ sales rise 20% in July
Chennai, Aug. 3 Expanded production capacity and entry into new markets have contributed to India Cements’ monthly dispatch in July exceeding a ...

OVERSEAS INVESTMENTS: Emami Biotech plans Rs 400-cr project in Ethiopia
To float subsidiary to cultivate bio-fuel crops, edible oil seeds. Kolkata, Aug. 3 Emami Biotech Ltd on Monday announced a Rs 400-crore project to be launched in Ethiopia for undertaking cultivation and extraction bio-fuel crops and edible ...

FINANCIAL PERFORMANCE: Rossell Tea posts two-fold rise in profit
During the quarter ended June 30, Rossell Tea Ltd posted more than two-fold increase in net profit at Rs 2.59 crore against Rs 1.14 crore in the corresponding period last year on net sales of Rs 8.01 crore (Rs 6.08 crore), registering more ...

OUTLOOK: Mahindra looking to expand non-tractor farm equipment biz
Mumbai, Aug. 3 Mahindra & Mahindra’s farm equipment sector plans to expand its non-tractor farm ...

NEW PROJECTS: Jayshree Chem proposes Rs 150-cr expansion
Jayshree Chemicals, an S.K. Bangur Group company, has planned a rights issue to raise Rs 40 crore to part finance its Rs 150-crore expansion cum ...

REGULATORY BODIES & RULINGS: Polymed gets US nod for 6 products
New Delhi, Aug 3 Poly Medicure Ltd, manufacturers of medical devices and disposables under the brand name Polymed, has obtained approvals from the US Food and Drug Administration for six of its new range of IV catheter ...

FINANCIAL PERFORMANCE: Higher tax provisioning dents Madhucon first quarter net
Hyderabad, Aug. 3 Madhucon Projects Ltd registered a marginal drop in net profit for the first quarter ended June 30, 2009 at Rs 13.08 crore against Rs 14.79 crore for the corresponding quarter last year. The drop in profit was due to ...

FINANCIAL PERFORMANCE: Celestial Lab posts flat net
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PREFERENTIAL ALLOTMENTS: SQL Star pref share allotment
The board of directors of SQL Star International Ltd has approved a resolution to issue 32 lakh equity shares on preferential basis to Kanishkdeep Stock Consultants, 37 lakh shares to Sarvapratham Investments and 33.25 lakh shares to Mr Sunil ...