PREFERENTIAL ALLOTMENTS

OVERSEAS BORROWINGS

AWARDS & HONOURS
Water efficient unit awards for Leyland unit, Indo Rama
AN Ashok Leyland's unit at Hosur and Indo Rama Synthetics (I) Ltd of Nagpur have won the maiden `National Award for Excellent Water Efficient Unit' instituted by CII-Sohrabji Green Business Centre (GBC). Jindal Vijayanagar Steel Ltd ... More

CORPORATE BONDS
CLSA picks up Havell's fully convertible debentures
CLSA Pvt Equity Management Ltd has picked up $5 million of fully convertible debentures in Havell's India Ltd, the power distribution equipment major. This follows Havell's recent signing of a non-binding memorandum of understanding with CLSA in ... More

RESTRUCTURING
Simplex Mills board clears revamp scheme
SIMPLEX Mills Co Ltd has informed the Bombay Stock Exchange that the company board on Monday approved a scheme of arrangement to restructure its textile, paper and realty businesses. The salient features of the scheme are to demerge its paper ... More

MERGERS & ACQUISITIONS
Jumbo lets Mallya bid for SWC liquor biz
Mr Mallya's entry into the bidding process for SWC's liquor business is significant as it could give him control over 60 per cent of the Indian Made Foreign Liquor (IMFL) market. More

JCT buys textile mill in Senegal
JCT Ltd has acquired a mill in Senegal with an annual capacity of 9 million metres of woven fabric and 2.45 million garments. The company will acquire the mill with a five-year lease and an option to buy it outright after that, it informed the ... More

PTC to pick up 11 pc stake in Lanco Amarkantak
POWER trader PTC India Ltd has decided to take up equity in electricity generation units. The company's board of directors has decided to buy an 11 per cent stake worth Rs 30 crore in Lanco Amarkantak, Lanco Group's 300-mega-watt (MW) thermal ... More

NEW PROJECTS
Tata Steel keen on titanium dioxide project in TN
TATA Steel is satisfied with the feasibility study for its proposed titanium dioxide project in Tamil Nadu and is holding discussions with the State Government on a crucial issue - availability of water. The project, which envisages mining ... More

Greenfield sugar plant at Kinnouni — Bajaj Hindusthan ties up Rs 400-cr loan with SBI
BAJAJ Hindusthan Ltd has tied up term loans worth Rs 400 crore with State Bank of India for financing its ongoing Rs 560 crore-plus greenfield sugar plant investments. "The loans are for five years and have been contracted at 7.25 per cent. ... More

Indoco Remedies plans subsidiaries abroad
THE Mumbai-based drug company Indoco Remedies Ltd plans to set up subsidiaries abroad to strengthen its foothold in the overseas market, through its proposed 100-per cent holding company, Indoco Holdings Netherlands BV, said Mr Suresh G. Kare, ... More

REGULATORY BODIES & RULINGS
FICCI seeks change in time gap between board meetings
A SECTION of India Inc has sought reversal of the reduction in the maximum time gap between any two board meetings of a company provided in the amended Clause 49 of the Listing Agreements. As per the amendment, the maximum time gap between any ... More

ALLIANCES & JOINT VENTURES
Tata Steel in talks with BlueScope for joint venture
TATA Steel is likely to form an equal joint venture with BlueScope Steel to produce downstream products, mainly for the construction and building industry, according to company officials. BlueScope is a large steel producer in Australia and New ... More

DIVERSIFICATION
Gillette India promoters to foray into food biz
THE Rs 1,000-crore Poddar Heritage Group, the promoter of Gillette India, Singer, Rosenbluth International and Style Spa in India, has charted out a strategy to diversify into the hospitality business. The Group has recently launched its ... More

OUTLOOK
Bristol-Myers Squibb bullish on India
THE US-based pharma company Bristol-Myers Squibb is bullish on India. While it has already introduced two products in the oncology segment, it plans to launch other products as well here. Mr David M. Rosen, Associate Director, Corporate ... More

SWAL Corp aims 15% growth in net profit
SWAL Corporation, the agrochemical business of liquor major Shaw Wallace, is looking at a turnover of Rs 64 crore and a net profit of Rs 6 crore in the current fiscal, a growth of 15 per cent over the previous year. Having incurred losses over ... More

PERFORMANCE
Under a cloud
A view of Malabar Cements factory at Walayar in Palakkad district. The State public sector unit, which was making profits till 2001, has been incurring losses since then due to alleged wrong policies. The company is estimated to have a total ... More