The Hindu Business Line : Friday, June 24, 2005

Amara Raja to supply batteries to Hyundai
HYUNDAI Motor India has taken Amara Raja Batteries as its second source for supply of batteries for its Hyundai cars. An announcement to that effect was made by Amara Raja on Thursday. Amara Raja's Managing Director, Mr Jay Galla, said that the ... More

Shareholders' nod for Dai-Ichi unit sale
HYDERABAD: Dai-Ichi Karkaria Ltd has informed stock exchanges that its shareholders have approved with requisite majority, by way of postal ballot, an ordinary resolution to sell, lease or otherwise disposal of or transfer of the company's ... More

IDBI divests stake in Novopan
HYDERABAD: Novopan Industries Ltd has informed the stock exchanges that Industrial Development Bank of India Ltd (IDBI) has sold 1,77,891 shares aggregating to 2.02 per cent of the share capital of Novopan. The shareholding of IDBI after ... More

CORPORATE DISPUTES

Hyundai responds to Maruti's legal notice
HYUNDAI Motor India is learnt to have responded to the legal notice sent to it by Maruti Udyog last week. Maruti, in its notice, had said that Hyundai's advertising brochure `Xing ahead of the Swift' had presented the Maruti Swift in poor light, ... More

OUTSOURCING

Pfizer to outsource IT-related work to Indian companies
PHARMACEUTICALS major, Pfizer Inc, plans to outsource its IT-related work to Indian vendors, Infosys Technologies and Satyam Computers, as part of its plans to move technology work overseas. The multi-million IT outsourcing deal with Infosys ... More

CORPORATE BONDS

Aurobindo Pharma plans FCCBs
HYDERABAD: Aurobindo Pharma Ltd has announced that its board of directors would meet on June 30 to consider a proposal for issue of foreign currency convertible bonds (FCCBs) or other such similar securities in the overseas markets. ... More

RESTRUCTURING

Duncans Industries to finalise accounts after 3 years — Debt recast package okayed; layoff on fertiliser unit to be lifted
FERTILISER and tea producer Duncans Industries Ltd, the flagship company of Mr G.P. Goenka, is all to finalise its accounts after a period of three-and-a-half years. The company was mired with all sorts of problems for the last three years. ... More

MERGERS & ACQUISITIONS

Macmillan India buys Charon Tec
MACMILLAN India Ltd, which provides typesetting and back-office services to publishers globally, has acquired the Chennai-based Charon Tec Pvt Ltd. Charon Tec, which provides typesetting services to book publishers in Europe and the US, has Rs ... More

NEW PROJECTS

APMDC signs MoUs with Russian cos for titanium plant
THE Andhra Pradesh Mineral Development Corporation (APMDC) will soon sign a memorandum of understanding (MoU) with two of the Russian titanium majors - AVISMA and VSMPO - for setting up titanium slag and sponge plant in the ... More

GAIL to invest Rs 20,000 cr in next 5 years
GAIL (India) Ltd on Thursday unveiled an ambitious expansion plan involving capital investments of around Rs 20,000 crore over the next five years. "The plans touch upon areas that expand beyond natural gas transmission business to ... More

KEI's new plant to be operational by fiscal-end
KEI Industries Ltd, engaged in electrical equipment manufacturing, has hastened efforts to set up a Rs 70-crore facility to manufacture high-tension power distribution equipment so as to start production before the end of the current fiscal. ... More

ALLIANCES & JOINT VENTURES

Cabinet clears HAL-Snecma joint venture
THE Cabinet on Thursday approved the setting up of a joint venture company by Hindustan Aeronautics Ltd (HAL) and Snecma Moteurs of France with an initial investment of Rs 50 crore. The Cabinet also approved a 50:50 equity participation by the ... More

DaimlerChrysler in pact
BANGALORE: DaimlerChrysler India has tied up with Lubricants and Specialities (P) Ltd, the manufacturers and marketers of premium international Motul (France) brand, for supply of the complete range of lubricants for its after-market ... More

OUTLOOK

GE wants to `move forward' on Dabhol
THE 2,184-MW Dabhol power project is close to being restarted, with GE, one of the major equity holders, expected to reach an agreement with Indian financial institutions by this month end. "We will sign a comprehensive settlement agreement ... More

China's Sinosteel awaits FIPB nod for 100% arm
SINOSTEEL Corporation, one of the largest steel trading firms owned by the Chinese Government, has finalised plans to set up a wholly owned subsidiary in India to undertake wholesale trading in metallurgical raw and processed materials. The ... More

Scoreboard
SE Diary

Comments & Letters to the Editor to: bleditor@thehindu.co.in
Subscribe to: Business Line

Pick a Winner Stock Market Contest

Foster's signs up local bottling partner

MTNL withdraws Rs 1,500-cr tender for 3G equipment

A tribute to George Dantzig — To him, impossible was nothing

Now, a Hutch mobile package for Rs 1,698

States yet to claim for revenue loss from VAT implementation — It is 'early days', caution Ministry officials

Bajaj, Hero Honda, Enfield top customer satisfaction: Study

Cabinet okays Bill on alternative medicines

In Focus

BHEL Disinvestment