CORPORATE
ANNOUNCEMENTS
Biocon to pay 20%
THE shareholders of Biocon Ltd met at their first annual general meeting on Thursday to approve payment of 20 per cent dividend — or Re 1 per equity share of the face value of Rs 5 each. The company went public in April. For the year ...
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Scorpio launched in Kuwait
MAHINDRA & Mahindra Ltd (M&M) today announced the launch of its sports utility vehicle, the Scorpio, in Kuwait. According to an official statement, M&M's foray that side is accompanied by the launch of an exclusive showroom in Kuwait by G
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CORPORATE DISPUTES
`Birlas hold over 60 pc in Pilani Investment'
THE Birlas are not unduly worried, at least immediately, over the prospect of Mr R.S. Lodha acquiring the M.P. Birla Group's stake in Pilani Investment & Industries Corporation Ltd, the investment arm of the Birla family, according to sources ..
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We're united in securing Estate for charity: Birlas
THE Birla families today said that they are seeking to secure the Estate of late Priyamvada Birla in order to ensure that this is left for charity as was the wish of late M.P. Birla. In a statement issued here today, the Birla families stated: ...
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Legal heir issue may open pandora's box
THE stand of the Birlas that the ownership of the companies under the MP Birla Group should go to the legal heir of Priyamvada Birla, and not to Mr R.S. Lodha, who is not a member of the Birla clan, if taken to its logical conclusion, may open ...
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Birlas yet to get copy of will from Lodha
THE Birla family has not yet received the official certified copy of the will of the late Priyamvada Birla from the M.P. Birla group auditor, Mr R.S. Lodha. According to a senior official of a Birla group company, till late in the evening no ...
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Rating agencies watching Birla case keenly
CREDIT rating agencies will follow developments at Birla Buildings with keen interest, their ardour set off by Priyamvada Birla's will and what has occurred since its revelation. The raters are viewing the unexpected happening as a test case, ...
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AWARDS & HONOURS
Warwick honours Venu Srinivasan
MR Venu Srinivasan, Chairman and Managing Director, TVS Motor Company, was on Wednesday conferred an Honorary Doctorate of Science degree by the University of Warwick, UK. Mr Venu Srinivasan received the degree from Vice-Chancellor Prof. David ...
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MANPOWER
Tulip agrees to clear VRS dues for Centaur staff
THE new owner of Centaur Hotel Juhu Beach, Tulip Hospitality Services Ltd, has given an undertaking to the Bombay High Court that it would be making necessary arrangements for funds to settle VRS for eligible employees by mid-August this ...
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CORPORATE BONDS
Natco Pharma plans foreign bonds issue
MERGERS & ACQUISITIONS
Emerging Markets acquires 5.6 pc stake in Birla Corp
EVEN as the controversy over the will of Priyamvada's Birla continues, Emerging Markets Management, LLC has taken over 5 per cent stake in MP Birla group company Birla Corporation. In a notice to stock exchanges, Birla Corporation informed that ...
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GAIL in talks to pick 26% in Ennore project
GAIL (India) Ltd is in talks with the A.V. Birla group to pick 26 per cent stake in the Ennore LNG import terminal-cum-power project in Tamil Nadu. "We have opened dialogue with the Birla group for taking a leading role in setting up the ...
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NEW PROJECTS
Coromandel Fert plans Rs 40-cr expansion at Vizag
HAVING completed the process for acquisition of Godavari Fertilisers and Chemicals Ltd (GFCL) recently, Coromandel Fertilisers Ltd (CFL), part of the Rs 5,266-crore Murugappa Group, is now planning to take up an expansion at its Visakhapatnam ...
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Reliance proposes mega power plant in Kakinada
The company mooted the idea of a power plant in the region in view of the huge gas find.
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Carrera plans $130-m textile project in India
THE US-based Carrera Holding Inc, makers of Carrera brand of jeans and other causal wears, proposes to set up a green-field textile project in India with an estimated investment of $130 million. The company has identified two locations in ...
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REGULATORY BODIES & RULINGS
FIR filed against Top Line Shoes directors
THE Registrar of Companies (RoC), Vadodara, has filed a complaint against six directors of Top Line Shoes for siphoning off public funds. The police have filed an FIR in this regard and an investigation has commenced against the six directors ...
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ALLIANCES & JOINT VENTURES
Metropolis ropes in hospitals to tap global clinical trials biz
METROPOLIS Health Services, a chain of diagnostic centres, has reached a formal understanding with two hospitals in Chennai and Bangalore to jointly hunt for overseas clinical trials business. The understanding is meant to pool infrastructure to ...
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Retail, shipping business — Govt turns down ONGC's joint venture proposal
THE Government has turned down public sector undertaking (PSU) Oil and Natural Gas Corporation's (ONGC) proposal to operate its retail and shipping business through joint ventures where it holds 49 per cent. It has argued that such joint ...
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Woolmark, Resil pact for new technology
WOOLMARK, the quality assurance company for textiles, has entered into an accord with Bangalore-based Resil Chemicals Pvt Ltd to propagate and market Sensory Perception Technology (SPT), a new finishing knowhow for textiles and garments. The ...
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INTERVIEW
Woolmark to focus on marketing, structural skill
AS India is fast becoming one of the world's major sources of woollen textiles such as knitwear, woven apparels, home furnishing, carpets and yarn, Woolmark Company is all set to focus its attention on extending support to marketing and ...
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SOCIETY & DEVELOPMENT
Murugappa Group plans community initiatives in AP
AIMED at lending a helping hand to the farming community in Andhra Pradesh, the Chennai-based Rs 5,266-crore Murugappa Group, through its community initiatives channel - AMM Foundation - proposes to come out with a master plan on drip ...
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DIVERSIFICATION
Indo Rama plans foray into grocery retail
THE Rs 2,200-crore polyester major, the Indo Rama group, is planning to diversify into the food and agro sector in a big way, with a foray into the processed food and grocery retailing business on the anvil soon. The company, which is the ...
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STANDARDS & BENCHMARKS
ISO certification for KAL
THIRUVANANTHAPURAM: Kerala Automobiles Ltd (KAL), the public sector manufacturer of two-wheelers and autorickshaws, has been awarded the ISO 9001:2000 certification. An official said the KAL Chairman, Mr A. Muhammed, handed over the ...
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Samkrg Pistons gets QMS certification
SICK UNITS
Kerala signs pact for TRL revival
THE State Government on Wednesday signed an agreement with Coimbatore-based promoters as a prelude to reviving the ailing Travancore Rayons Ltd (TRL) at nearby Perumbavoor. The agreement was signed by Mr N. Damodaran on behalf of the promoters, ...
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OUTLOOK
Whirlpool upbeat on exports — Converts part of Pondy facility into EoU
UPBEAT on the export market, Whirlpool of India Ltd has converted part of its Pondicherry facility into an export-oriented unit (EoU). The company is looking at crossing an export turnover of Rs 100 crore during the current year. "Despite ...
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PEOPLE
Karan Paul is new Apeejay group chief
KOLKATA: Mr Karan Paul, son of the late Surrendra Paul, has been appointed Chairman of the Apeejay Surrendra Group, which has interests in tea, shipping, hotels, real estate and retail. According to a press release issued here on Thursday, ...
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Santanu Mallick appointed as Star News CFO
HINDI News channel, Star News, has appointed Mr Santanu Mallick as their Chief Financial Officer. Mr Mallick moves from Philips India Ltd where he was the Divisional Controller of the Lighting business for 6 years. He has worked in several ...
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