The Hindu Business Line : Wednesday, January 26, 2005

Fire at Chennai Petro Manali oil storage tank
CHENNAI: A Fire broke out on Tuesday in Chennai Petroleum Corporation's crude oil storage tank area in Manali. It was brought under control within an hour and no one was injured. There was no damage to plant operations also, according to ... More

RESEARCH & DEVELOPMENT

Glenmark Pharma completes Phase I trial on asthma drug
GLENMARK Pharmaceuticals has completed the first phase of its clinical study on a prospective asthma and chronic obstructive pulmonary disorder (COPD) drug, GRC 3886. The second level of the trial is set to commence on the molecule by early ... More

ANNOUNCEMENTS

IVRCL bags Rs 440-cr orders
HYDERABAD: IVRCL Infrastructures & Projects Ltd (IVRCL) has bagged new orders valued at Rs 440 crore from November 2004 to date. Water-related projects account for Rs 279.17 crore of these with order procured mainly from Gujarat Water ... More

New-look Maruti 800 to cost more; Euro III version being rolled out
PASSENGER cars market leader, Maruti Udyog Ltd, has announced that it is raising the price of its volume-driving model - Maruti 800 - after effecting design changes to it. The company has raised the prices of the Euro-II compliant ... More

BUYBACK

IL&FS Investment board meet on Feb 1

CORPORATE DISPUTES

Reliance Info shares allotted at discounted price?
THE controversy over allotment of shares in Reliance Infocomm took a new turn today with allegations that a close confidant of Mr Mukesh Ambani was issued shares at a discounted price. According to Reliance sources, a company called Kaizen ... More

DoT firm on penalising Reliance Info: Maran
THE Minister for Communications and IT, Mr Dayanidhi Maran, today said that Department of Telecom (DoT) was clear in its stand on imposing a penalty of Rs 150 crore on Reliance Infocomm for violating the licence conditions by illegally routing ... More

MERGERS & ACQUISITIONS

Cos to get time to comply with public shareholding norms
LISTED companies with public shareholding of less than 25 per cent would be given sufficient time to conform to the amendments carried out to the takeover code in the last week of December 2004, the Chairman of the Securities and Exchange Board ... More

Govt acquires RBI stake in IDFC
THE Government of India has acquired the 15 per cent equity held by the Reserve Bank of India in Infrastructure Development Corporation (IDFC) ahead of its proposed IPO. The RBI on Tuesday said the Government has acquired equity worth Rs 150 ... More

Goodlass Nerolac gets nod to hike promoter holding

REGULATORY BODIES & RULINGS

CLB to get new members
Soon after getting the nod from the Chief Justice of India (CJI), Mr Justice R.C. Lahoti, the Ministry of Company Affairs (MCA), has decided to fill the vacancies in the CLB. "We are going to issue advertisements for the same soon," official ... More

Corporate board representation remains a thorny issue
COMPOSITION of corporate boards continues to be a vexed issue for both the Company Affairs Ministry and the capital market regulator. The Government is understood to have used Tuesday's meeting of the Securities & Exchange Board of India ... More

ALLIANCES & JOINT VENTURES

Ceylinco ties up with Shriram group company for property development
CEYLINCO Consolidated, a Sri Lankan company, has entered into a partnership with the property development arm of Chennai-based Shriram group for the joint promotion of housing and infrastructure real estate in the country. Ceylinco, which is ... More

DIVERSIFICATION

ONGC still keen on shipping jt venture
ONGC is once again reported to be pushing for a shipping subsidiary as a joint venture with a global leader in the logistics business. The company's previous attempt to enter into a shipping joint venture with a 49 per cent stake was turned ... More

RIGHTS ISSUE

Ennore Foundries proposes rights issue
ENNORE Foundries Ltd, an associate company of Ashok Leyland and a member of the Hinduja group, proposes to issue 95,05,860 equity shares of Rs 10 each at a premium of Rs 50 a share in the ratio of 14 shares for every 10 shares held. This will ... More

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