PREFERENTIAL ALLOTMENTS
Apollo Tyres to consider preferential allotment to Michelin
THE board of directors of Apollo Tyres Ltd (ATL) is to meet on March 10 to consider a preferential allotment of shares to Compagnie Financiere Michelin, France. Michelin is picking up a 14.9-per cent stake in ATL through the preferential ... More

OVERSEAS BORROWINGS
Will corporates take IDR route?
WHETHER companies incorporated outside India would actually cash in on the Indian Depository Receipts (IDRs) route remains to be seen. Experts feel that it is still a relatively new concept and only time will tell what type of companies it will ... More

OUTSOURCING
`Britain will not stop outsourcing'
INDIAN companies agonising over the outcry in the western world, especially Britain and the US over the issue of work being outsourced to India, have no cause for worry as far as the British Government's policy is concerned. In a categorically ... More

TECHNOLOGY
Nod for 16 foreign tech tie-up proposals
THE Union Government has permitted Hindustan Petroleum Corporation Ltd (HPCL) to enter into a technical collaboration agreement with US-based BELCO Technologies Corporation for obtaining knowhow for a flue gas desulphurisation unit at its ... More

MANAGEMENT
`Quality leadership and sharing of knowledge vital for organisations'
THE essentials of an intelligent organisation were the topics of discussion at a three-day national management convention that ended here on Sunday. A number of prominent corporate leaders and management scholars addressed the convention and ... More

MERGERS & ACQUISITIONS
GM to buy Daewoo assembly assets — Production of mini-car Chevrolet Spark to begin next year
GENERAL Motors Corporation today said that it has offered to purchase the passenger car assembly assets of Daewoo Motors India Ltd (DMIL) and the principal creditors of the Surajpur-based DMIL (ICICI Bank, IDBI and Exim Bank) have accepted the ... More

Daewoo India's assets: Advantage GM
AFTER a protracted bidding and re-bidding exercise, and much speculation subsequently, GM India (GMI) has finally emerged as the buyer of the erstwhile Daewoo Motor India's car assembly assets. The acquisition of Daewoo's Indian car assembly ... More

NEW PROJECTS
Sathavahana commissions coke oven batteries
SATHAVAHANA Ispat Ltd, the Hyderabad-based Rs 84-crore pig iron manufacturer, has commissioned non-recovery type metallurgical coke oven batteries with installed capacity of 1.5 lakh tonnes per annum at its existing site from Monday. In a ... More

IOC board clears naphtha, polymer units
AFTER spending a year preparing detailed feasibility reports (DFRs), the board of Indian Oil Corporation (IOC) on Wednesday took an in-principle decision to set up a naphtha cracker and a polymer unit involving an investment of Rs 6,300 crore. ... More

Finolex to step up PVC pipes capacity on agri demand
THE Rs 800-crore Finolex Industries Ltd is embarking on an expansion plan to meet increased demand for the polyvinyl chloride (PVC) pipes from the agricultural sector. The company would be increasing its PVC pipes manufacturing capacity from ... More

Tavant Tech plans office in NCR
TAVANT Technologies is close to doubling its strength in India. The company is also planning to open one more office in the National Capital Region (NCR). This four-year old US-based company in the high-end collaborative e-commerce space ... More

Dalmia Cement to expand capacity
DALMIA Cement (Bharat) Ltd plans to expand capacity at its Dalmiapuram plant in Tamil Nadu by about 1.6 million tonnes a year at a cost of Rs 365 crore, according to information provided by the company to the stock exchanges. Company officials ... More

TRADE & LABOUR UNIONS
Bajaj Auto's Akurdi unit workers protest outsourcing
EMPLOYEES of Bajaj Auto's Akurdi plant began an agitation demanding work in front of the company on Wednesday. According to Mr Shekhar Sawant, President, Bharathiya Kamadar Sena, the agitation is expected to continue for the next 15 days. He ... More

ALLIANCES & JOINT VENTURES
Sonata Soft pact with Gupta Tech
BANGALORE: Sonata Software Ltd and Gupta Technologies, LLC, a provider of embedded relational databases and visual development tools, have announced a 360 degree partnership. Under the partnership, Sonata will provide product ... More

EVENTS
Tata Steel celebrates Founder's Day
Mr Ratan N. Tata, Chairman of the Tata Group; Dr J.J. Irani, Director of Tata Sons & Tata Steel; Mr B. Muthuraman, Managing Director of Tata Steel; Mr P.K. Kaul, Director; Dr T. Mukherjee and Mr A.N. Singh, both Deputy Managing Directors; paid .. More

IPOS
Mahanagar Gas may consider public listing next quarter
THE promoters of Mahanagar Gas Ltd may decide on its public listing in the first quarter of coming fiscal, a senior official said. GAIL India and BG, the promoters of MGL, had postponed the proposed public listing last year citing "bad market ... More

BONUS ANNOUNCEMENTS
Gravity India board okays 2:1 bonus
GRAVITY India Ltd has informed the Bombay Stock Exchange that at the meeting of the Board of Directors held on March 1, the board approved the issue of bonus shares to shareholders, recommended by directors in the ratio of 2:1, that is, 1 bonus ... More

OUTLOOK
ONGC expects major gas find in KG basin
AFTER Mumbai High, Oil and Natural Gas Corporation (ONGC) Ltd is expecting a major gas find in the deep-water region of Krishna-Godavari basin where it is currently operating two ships. According to the ONGC Executive Director, Mr A. Kaviraj, ... More

Deccan Gold to launch exploration in Dharwad, Hutti
DECCAN Gold Mines Ltd, the country's first listed gold exploration company, is gearing up to launch advanced drilling exploration at some "potential prospects" near Dharwad and Hutti in Karnataka. The company, which has procured sophisticated ... More