The Hindu Business Line : Thursday, August 06, 2009

CORPORATE

TAXATION: Top 100 tax defaulters owe Rs 1.4 lakh crore
New Delhi, Aug. 5 Just 100 tax defaulters owed the Government a whopping Rs 1.4 lakh crore as on March 31, ...

OPEN OFFERS: Great Offshore flares up on bourses
In May, when promoter Vijay Sheth lost control of Great Offshore, not many would have thought the company’s share price would almost double in less than three months — from Rs 295 on May 7 to Rs 579 on ...

OUTLOOK: MFL to restart complex fertiliser production soon
Chennai, Aug. 5 Madras Fertilizers Ltd expects to restart production of complex (NPK – nitrogen, phosphate, potash) fertilisers in a month, through an arrangement with Indian Potash Ltd (IPL) for raw ...

CORPORATE DISPUTES: CAG audit on RIL capex must be made public: RNRL
RPower CEO refutes DGH views on inflating expenditure. Mumbai, Aug. 5 Anil Ambani-led Reliance Natural Resources Ltd has demanded that the CAG audit on Reliance Industries Ltd’s capital expenditure for developing gas fields in KG-D6 ...

DIVERSIFICATION: A future in dirty linen
The lack of a pan-India player in laundry services is an opportunity for Jyothy Labs.. It has been a year since Jyothy Laboratories Ltd (JLL) announced its foray into laundry services under the ‘Fabric Spa’ brand, but it was only in ...

TECHNOLOGY: M&M goes on technology drive with suppliers
Offers to take the role of a ‘test lab’. Mumbai, Aug 5 Mahindra & Mahindra has kicked off an initiative with its suppliers which will see the two collaborate closely in critical areas relating to technology and ...

PREFERENTIAL ALLOTMENTS: Preference shares with a difference
The world of botany and zoology has registered a good deal of success with hybrids. It is now for the world of finance to successfully experiment with hybrid financial instruments that for a change has got the small investor in ...

OUTLOOK: Madras Fertilizers seeks Govt guarantee for feedstock supply
Suppliers cancel credit facility on mounting dues. Chennai, Aug. 5 Madras Fertilizers Ltd hopes to get the Fertiliser Department to extend Government guarantee to ensure uninterrupted supplies of feedstock and fuel, according ...

CONSULTING: Cos prefer variable fee model for consultancy services
Seek expertise on cost-cutting, staff retention. Kolkata, Aug. 5 With the economic downturn rendering management consultancy services more popular, companies are now in favour of linking the fees, at least partially, to the benefits accruing ...

OUTLOOK: Zicom pitches security systems as ‘lifestyle’ products
Chennai, Aug. 5 Selling security systems as lifestyle products is the way forward for the growth of the retail security market, said Mr Santonu Choudhury, CEO, Zicom Retail Pvt. Ltd, a division of Zicom Electronic ...

NEW PROJECTS: Intertek plans testing centres
Intertek Plc, a UK-based testing and inspection service provider, is set to invest ‘more than Rs 10 crore’ in India to set up testing laboratories in Gurgaon for food and footwear products. Mr Harsh Chopra, Country Manager ...

ALLIANCES & JOINT VENTURES: Magna Seating, Krishna group setting up plant near Pune
Mumbai, Aug. 5 Magna Seating, part of the North America-headquartered Magna International, has signalled its India debut through a joint-venture with the Krishna group. The two have teamed up in a 50:50 joint venture to make complete ...

OUTLOOK: Mahanagar Gas plans 20 CNG outlets in Mumbai
Mahanagar Gas, a joint venture of Gail (India), the BG Group and the Maharashtra Government, plans to set up 20 compressed natural gas outlets in Mumbai this ...

OUTLOOK: L&T hopes to bag more ONGC orders
Mumbai, Aug. 5 Engineering and construction major Larsen & Toubro has scaled up its capabilities over the last two years to execute fully integrated large process offshore platform orders such as the Rs 5,300-crore Mumbai High North ...

OUTLOOK: NHPC open to hydel ventures in South
With about 10 per cent of the country’s potential hydel capacity located in the southern part of the country, NHPC Ltd has hinted that it is open to working with State governments through joint ventures and by providing ...

EVENTS: Making a point
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OUTLOOK: Nolte keen on tapping residential biz
New Delhi, Aug. 5 German kitchen and bedroom maker Nolte has said the growing retail landscape offers a huge market for the home improvement industry. The company, which set up shop in India three years ago, said it may look at setting up ...

PERFORMANCE: Ashok Leyland sees 35% fall in July sales
Chennai, Aug. 5 Ashok Leyland witnessed a 35 per cent drop in its July domestic sales to 3,560 vehicles from the 5,502 units sold in the same month last year. However, the sales grew 2 per cent in the month ...

COURTS/LEGAL ISSUES: Satyam case: Remand extended
Hyderabad, Aug 5 A designated CBI court on Wednesday extended the remand of the founder and ex-chairman of Satyam Computer Services, Mr Ramalinga Raju, his brother, Mr Rama Raju, and other accused in the Rs 7,136-crore Satyam fraud case ...

ALLIANCES & JOINT VENTURES: RDB keen on partner for cigarette biz
Kolkata, Aug. 5 The Kolkata-based RDB Industries has decided to rope in a strategic partner for its cigarette ...

ANNOUNCEMENTS: Correction
Nava Bharat Ventures has recorded a net profit of Rs 136.38 crore for the first quarter ended June 30, 2009, an increase of 7.5 per cent over Rs 126.91 crore for the corresponding quarter last year, and not as published in the edition ...

ANNOUNCEMENTS: Machine for faster liver tests
Siemens has installed the first liver elastography machine at the Asian Institute of Gastroenterology here. The machine, Acuson S2000, uses sound waves to detect abnormalities in liver in just 10 minutes. “Also, one need not go for a biopsy ...

ANNOUNCEMENTS: Dr Reddy’s launches new cream
Dr Reddy’s Laboratories Ltd has launched Execare (Halometasone Cream) in the the domestic market. The cream is used in the treatment of acute/chronic steroid responsive dermatoses and vitiligo. “Execare is a potent steroid and ...

NEW BUSINESS: BHEL bags Jindal order
Bharat Heavy Electricals Ltd has secured an order of Rs 2,600 crore from Jindal India Thermal Power Ltd. The order is for main plant package in an upcoming greenfield thermal power project in Orissa. ...