The Hindu Business Line : Wednesday, June 29, 2005

L&T gets Rs 418-crore contract in Harayana
Larsen & Toubro has won a contract from the National Highways Authority of India, estimated at Rs 418 crore, for the construction of a flyover in Haryana. The contract for the six-lane flyover on National Highway 1 in Haryana also includes ... More

SAIL okays 8 projects worth Rs 300 cr
STEEL Authority of India Ltd (SAIL) on Tuesday approved the implementation of eight projects at an investment of around Rs 300 crore. Out of these projects, three have been cleared for Bokaro Steel Plant (BSL), two for Rourkela Steel Plant ... More

Pokarna plans to contest excise demand
POKARNA Ltd is planning to appeal against the demand raised by the Commissioner of Customs and Central Excise before the higher authorities, including the Customs Excise and Gold Control (Appellate) Tribunal (CEGAT). The company informed the ... More

Eveready drops plan for battery unit in China
EVEREADY Industries India Ltd, the flagship company of the BM Khaitan Group, has put its earlier plan of entering the Chinese battery manufacturing sector on the backburner. Talking to reporters after attending the 70th annual general meeting ... More

OPEN OFFERS

Rockwool foreign collaborator announces open offer
IN a bid to provide an exit route to the shareholders of the city-based Rockwool (India) Ltd, its foreign collaborator - Alghanim Industries (Mauritius) Ltd — has announced an open offer through reverse book building route. Rockwool ... More

MERGERS & ACQUISITIONS

Videocon buys Thomson's global picture-tube biz for Rs 1,260 cr
THE Videocon group today announced that it would be acquiring Thomson SA's global colour picture-tube manufacturing business, including units in China, Poland, and Mexico for 240 million euros (approximately Rs 1,260 crore). The purchase ... More

Govt asks IOC to seek second opinion on IBP merger swap ratio
IBP Co Ltd may have to wait for a little while before it is formally merged with Indian Oil Corporation Ltd. The Government has asked IOC to seek a second opinion on the swap ratio for the proposed merger. The Finance Ministry had raised ... More

Is Electrolux next on the takeover list?
CLOSE on the heels of acquiring the colour picture-tube business of Thomson, the Videocon group seems to have more acquisitions in the pipeline. The group is in negotiations to acquire the troubled Indian subsidiary of Swedish white goods ... More

NEW PROJECTS

MSPL plans steel plant in Koppal
The company proposes to tap financial institutions to raise a debt of Rs 1,375 crore. More

B.P. Poddar group to invest Rs 250 cr in healthcare initiatives
THE Rs 300-crore B.P. Poddar Group, which has interests in sectors such as real estate, education, steel and healthcare, has unveiled plans to invest Rs 250 crore in various healthcare initiatives in the next couple of years. The proposed ... More

EVENTS

Tata biz quiz from June 30

VENTURE CAPITAL

Dr Reddy's bullish on third party venture capital
HAVING recently partnered with ICICI Venture Funds Management to de-risk its R&D financials, Dr Reddy's Laboratories Ltd is now working on similar models for its innovation-led business, according to its Chairman, Dr K. Anji Reddy. Dr Reddy ... More

SICK UNITS

NTC seeks BIFR nod for modified restructuring plan
WITH fortune smiling on the ailing National Textile Corporation's (NTC) current land sale bids, the public sector textile conglomerate is turning its attention to its `single-structure' reorganisation of its mills that aims at pruning the number ... More

Real estate boom may help NTC fund revamp
NATIONAL Textile Corporation (NTC) may net from asset sale more than the Rs 4,000 crore it has proposed to spend on revamp, if the prevailing boom in the property market continues for some more months. The current round of the Mumbai-centric ... More

OUTLOOK

Higher capex and changed product mix may hit Mico
MICO'S bottomline may decline this year and in 2006 because of higher investment and change in product mix, the company has said. In its annual report, Mico has said that with the investment spread across from 2005 to 2007 for manufacture of ... More

PERFORMANCE

Vybra wants to be out of BIFR ambit
WITH its networth turning positive, Vybra Automet Ltd (VAL), the city-based auto component forgings manufacturer, has made a representation seeking it to be out of Board for Industrial and Financial Reconstruction (BIFR) purview. For the ... More

PEOPLE

R. Sankaran to hold additional charge as CPCL MD
CHENNAI: Consequent to the appointment of Mr S.V. Narasimhan, Managing Director, Chennai Petroleum Corporation Ltd, as Director (Finance) of Indian Oil Corporation, Mr R. Sankaran, Director (Technical), will hold additional charge of the ... More

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