CORPORATE
ANNOUNCEMENTS
IVRCL to raise Rs 150 cr via book-building
IVRCL Infrastructures & Projects Ltd has decided to raise funds to an extent of Rs 125 crore to Rs 150 crore, including the greenshoe option of 15 per cent, by issuing shares through book-building process. This will be subject to the ...
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Neuland facility gets USFDA nod
HYDERABAD: Neuland Laboratories Ltd (NLL), the city-based pharmaceutical company, has informed the stock exchanges that the United States Food and Drug Administration (USFDA) authorities have approved the company's entire manufacturing ...
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Indian Hotels ED quits
MUMBAI: Indian Hotels Company Ltd has informed the BSE that Mr Zubin Dubash has tendered his resignation as Executive Director of the company which will be effective September 6. ...
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GE Shipping adds to fleet
MUMBAI: Great Eastern Shipping Company Ltd inducted its fourth Platform Supply Vessels (PSV) named Malaviya Twenty in its fleet. "Capable of catering to deep water oil fields, the vessel was built at the Brattvaag yard in Norway ...
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CORPORATE DISPUTES
ESPN-Star, Zee in slanging match over cricket telecast
EVEN as the Board for Control of Cricket in India (BCCI) ponders over the coveted cricket telecast rights for the next four years, the two top bidders, ESPN-Star Sports and Zee Telefilms, are engaged in a game of allegations and ...
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AWARDS & HONOURS
Coca-Cola is `best pvt co'
NEW DELHI: Hindustan Coca-Cola Beverages Pvt Ltd has been adjudged the `Best Private Company' by the Tamil Nadu Government for its contribution to communities in providing employment opportunities to physically challenged people, the ...
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TAXATION
Corporate sector deserves better treatment
The corporate tax regime has to spell stability, says R. Anand
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RESTRUCTURING
Fenner completes business restructuring
FENNER India on Friday announced the completion of its business restructuring with the hiving off of its conveyor belting division to a new company under the name Fenner Conveyor Belting Private Ltd. The manufacturing facility was formally ...
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MERGERS & ACQUISITIONS
Vedanta to buy 51 pc stake in Zambian copper mine
VEDANTA Resources Plc, the London Stock Exchange-listed holding company of the Sterlite Group, on Friday announced that it planned to acquire a 51 per cent controlling stake in Konkola Copper Mines in Zambia, for a total cash consideration of ...
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Matrix Labs promoter sells 1.48 pc holding
MATRIX Laboratories Ltd, the city-based pharmaceutical major, has informed the stock exchanges that its Executive Vice-President, Mr M. Ravinder, has sold 2.15 lakh shares, amounting to 1.48 per cent of voting rights of the company. The mode of ...
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NEW PROJECTS
Grandix Pharma to set up formulation plant near Chennai
GRANDIX Pharma, a company owned by 490 doctors, is to open a formulation plant shortly on the outskirts of Chennai. The Rs 11-crore plant has been designed and built to meet US regulatory norms. Grandix's shareholders are all doctors, and the ...
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TNPL plans to expand capacity — To invest Rs 595 cr
TAMIL Nadu Newsprint and Papers Ltd (TNPL) plans to invest Rs 595 crore to modernise and expand its production facility. This will increase its capacity by about 15,000 tonnes a year from the present 2.3 lakh tonnes, according to sources in the ...
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SPL plans expand Indian operations
THE Indian lubricants market, the fourth largest in the world with an estimated consumption of 1.4 million tonnes, is growing at about 4 per cent per annum. The industry turnover at present is over Rs 7,000 crore, according to Mr Rajendra Sah, ...
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REGULATORY BODIES & RULINGS
Defying CLB order: Case filed against Morepen Labs
THE Registrar of Companies, Jalandhar, has prosecuted Dr. Morepen Laboratories for defying the Company Law Board's (CLB) order regarding non-payment to depositors. The case has been filed under Companies Act, 1956, the Minister of Company ...
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Ministry pulled up for drop in inspections of cos
THE Ministry of Company Affairs (MCA) came in for criticism from a Parliamentary panel for its casual approach towards inspection of companies. The Standing Committee on Finance (2004-05) report, which was tabled in the Lok Sabha on Friday, noted ...
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Investor fund transfers: Ministry to condone delays
COMPANIES can now transfer unclaimed and unpaid amounts of shareholders to the Investor Education & Protection Fund (IE&PF) without any fear of being penalised for procedural delays. Taking note of the practical difficulties faced by the ...
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OUTLOOK
CIL sets its sights on coal gas
THE conventional method of exploiting coal reserves is set to change in the coming years as State-owned Coal India Ltd (CIL) is keen on producing natural gas from coal instead of producing only raw coal. Though the Coal Ministry has directed ...
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ONGC to enter petrol retailing by fiscal-end
OIL and Natural Gas Corporation will enter the petroleum retailing business this fiscal. In the first phase, the company will open retail outlets under the ONGC brand name to be followed by outlets of Mangalore Refinery and Petrochemicals Ltd ...
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Ford eyes 27,000 Ikons sales this year
FORD India Pvt Ltd has targeted sales of 27,000 units of the Ford Ikon in the domestic market in 2004. Last year, the company sold 18,500 Ikon variants in India. Besides, in the calendar year 2003, Ford India exported 24,000 units of the Ikon ...
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JHV Group sees growth in liquor biz
"We commenced trial production last year and have received a good response in the market for our beer brands Target and Ikon."
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Home networking to power Onkyo topline
ONKYO'S Home Networking concept will drive the company's topline growth in the next two years, according to Mr M.A. Dhandapani, Managing Director, Onkyo Sight & Sound India Pvt Ltd. At present, almost 20 per cent of the company's turnover comes .
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Grand Hyatt(Mumbai) hopes to function full stream by January
THE Grand Hyatt hotel in Mumbai hopes to see business hit the fast-track by January next when the hotel will be complete in all respects, with all its revenue-generating streams, namely, the hotel, service apartments, and shopping mall, up and ...
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Mundra SEZ hopes to bring rich NRIs back home
THE Gujarat-based Adani Group hopes to attract investments from Kutchhi NRIs in UAE and other countries to the special economic zone (SEZ) being developed by the group at Mundra. Mr Sanjay Gupta, CEO - Infrastructure, Adani Group, said with ...
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PEOPLE
D.S. Brar `closely involved' in GVK group company
AFTER spending close to 27 years with Ranbaxy Laboratories Ltd, Mr Davinder S. Brar has decided to lend his expertise to GVK bioSciences, part of the Hyderabad-based GVK group. Speaking to Business Line, Mr Brar said: "I am closely ...
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New Hyundai MD
NEW DELHI: Hyundai Motor Corporation (HMC) has appointed Mr B.H. Sung as the new Managing Director for its Indian arm Hyundai Motor India. Mr Sung, who was Executive Vice-President of HMC's export operations in South Korea, replaced Mr ...
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