CORPORATE
ANNOUNCEMENTS
L&T bags HSBC contract
THE engineering, construction and contracts (ECC) division of L&T has bagged the contract to develop a built-to-suit mega project for the HSBC group's data processing centre in Hyderabad. This would be modelled on a similar project developed ...
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Reliance Energy awarded EPC project in Haryana
RELIANCE Energy Ltd said it has been awarded a Rs 2,097-crore engineering procurement and construction contract to build a 600-MW thermal power station for Haryana Power Generation Corporation Ltd. The foundation stone for the project was laid ...
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PowerGrid in talks with ICICI Bank for telecom service
POWER Grid Corporation of India Ltd (PGCIL) has begun negotiations with ICICI Bank for providing telecommunications facilities for its banking operations. Speaking to reporters here on Wednesday, Mr R.P. Singh, PGCIL's Chairman and Managing ...
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CyberMedia to hit market with Rs 17-cr IPO
CYBER Media (India) Ltd today announced plans to go public with an initial public offering of 170 lakh equity shares of Rs 10 each aggregating to Rs 17 crore. The company would go for a fixed price issue in the price range of Rs 50-60 and will ...
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Panacea's nimesulide injection
NEW DELHI: Panacea Biotec has introduced Nimulid Safeinject, a nimesulide injection, 75 mg/2 ml, for rapid treatment of post-operative pain. "Nimulid Safeinject, a novel therapy in postoperative pain, has early onset of action and ...
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BUYBACK
Govt supports ONGC plan to buy back shares held by IOC
THE Government today supported Oil and Natural Gas Corporation's (ONGC) plans to buyback shares held by Indian Oil Corporation (IOC) in the company, with the Petroleum Minister, Mr Mani Shankar Aiyar, saying the buyout is not likely to impact ...
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PREFERENTIAL ALLOTMENTS
Ind-Swift plans to raise Rs 35 cr through pref issue
THE Chandigarh-based Ind-Swift Laboratories Ltd is planning to raise about Rs 35 crore through a preferential issue of shares. This new preferential issue is being planned after the company decided to postpone the earlier announced preferential ...
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MANAGEMENT
IIT-B management course for Leyland staff
ASHOK Leyland has signed an agreement with the Shailesh J. Mehta School of Management (SJSOM) of the Indian Institute of Technology-Bombay for a customised management course in Manufacturing Excellence for its engineers. SJSOM had earlier ...
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IPR
CSIR on top in biotech with 202 patent applications
BASF, Novo Nordisk, Procter and Gamble Co, F Hoffmann La Roche, SmithKline Beecham, Hindustan Lever and Astra Zeneca have moved to the top in the emerging field of biotechnology in India. While BASF leads the pack with claims for 88 patents ...
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MERGERS & ACQUISITIONS
Sona Koyo plans investment in French auto components firm
THE trend of overseas acquisitions by domestic auto component majors has been accelerating in recent months, and the latest is components major Sona Koyo Steering Systems, which is considering investment in a France-based joint venture firm ...
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NEW PROJECTS
Cabinet clears Nalco expansion plan
THE Cabinet Committee on Economic Affairs (CCEA) on Wednesday approved National Aluminium Company's (Nalco) Rs 4,091.51-crore expansion plans. The company, which is the country's second largest aluminium producer, plans to expand its refinery ...
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Carrera plans 1,000-crore investment in Maharashtra
ITALIAN textile major Carrera will invest Rs 1,000 crore in Maharashtra over two to three years with the company firming up plans to set up manufacturing plants at multiple locations across the State. The Carrera group, with interests in ...
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ALLIANCES & JOINT VENTURES
Briggs & Stratton in talks with engine makers for tech tie-up
THE US-based small engine manufacturer, Briggs & Stratton, is in talks with a number of Indian companies for transferring technology. Many Indian stationary engine manufacturers have not been able to meet the stringent emission and noise ...
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SICK UNITS
Kerala to appeal against BIFR closure notice on Autokast
THE State Government will appeal to the Appellate Authority for Financial and Industrial Reconstruction against the order of the Board for Industrial and Financial Reconstruction (BIFR) for closing down the State-owned Autokast Ltd. The ...
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OUTLOOK
ITC targets top spot in safety matches
Encouraged by the consumer response to its safety matches in the domestic market, the company has already started exports to the US and West Africa.
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Elekta's Indian arm hopes to double turnover
THE $-400 million Swedish medical equipment company Elekta is zeroing in on India, Bangladesh and Sri Lanka for marketing its modern radiotherapy and radio surgery units. Mr Percy Shroff, Managing Director of Elekta Instrument (India) Pvt Ltd, ...
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PERFORMANCE
Punjab Tractors sells 5,880 units
MUMBAI: Boosted by higher volumes, Punjab Tractors' total revenue has increased by 48 per cent in the second quarter of the current fiscal to Rs 194 crore compared to Rs 130.80 crore in the same period last year. The company sold 5880 ...
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