The Hindu Business Line : Saturday, July 16, 2005

Tata Coffee to raise short-term loans to fund estate buys
TATA Coffee Ltd plans to raise short-term debt to fund the acquisition of six tea and coffee estates from Tata Tea, says the company Managing Director, Mr M.H. Ashraff. Tata Coffee is acquiring 4,300 hectares from Tata Tea for Rs 55 crore. ... More

Nicholas Piramal's cancer drug enters phase-I/II trials
DRUG major Nicholas Piramal India Ltd has said that its prospective anti-cancer drug molecule has entered into Phase I and II clinical studies. "After obtaining the necessary permissions from the Canadian regulatory authorities, a patient was ... More

Aurobindo chief converts warrants
HYDERABAD: Aurobindo Pharma Ltd has informed the Bombay Stock Exchange that its committee of board of directors at a meeting held on Friday has allotted 10 lakh equity shares of Rs 5 each at a premium of Rs 370 per share to Mr P.V. ... More

PREFERENTIAL ALLOTMENTS

Bhagyanagar Metals equity allotment
HYDERABAD: Bhagyanagar Metals Ltd has allotted 37,03,703 equity shares on a preferential basis to the Singapore-based Khattar Holdings Pte Ltd, promoted by Mr Satpal Khattar. This amounts to about 10 per cent of the paid-up equity of the ... More

OVERSEAS BORROWINGS

Videocon plans to raise Rs 5,000 cr through GDR/FCCB
VIDEOCON Industries Ltd will take a decision on raising Rs 5,000 crore through issue of global depository receipts (GDRs) and/or foreign currency convertible bonds (FCCBs) at its board meeting on July 23. The company on Friday informed the ... More

MERGERS & ACQUISITIONS

ONGC eyeing stake in Qatar LNG firm
THE Oil and Natural Gas Corporation Ltd (ONGC) is hoping to pick up stake in Qatar's Ras Laffan Liquefied Natural Gas Co Ltd (Rasgas II). According to sources, the due diligence for the project is going on. ONGC hopes to pick up a 5 per cent ... More

Bilcare buys US packaging co
PHARMACEUTICAL packaging company Bilcare Ltd has acquired Pennsylvania-based packaging and research company ProClinical Inc, at an undisclosed cost. The acquisition, done through Bilcare's wholly - owned subsidiary Bilcare Singapore Pte Ltd, ... More

OUTLOOK

Subsidy sharing won't hit GAIL Q1 profit
GAIL (India) Ltd today said that its profitability would not be adversely impacted in the current fiscal on account of the subsidy-sharing burden. GAIL's subsidy share during the first quarter of the year will be to the tune of only Rs 153 crore, ... More

L&T plans more tie-ups in West Asia — To explore African market `seriously'
THE ECC (Engineering, Construction and Contracts) division of Larsen & Toubro Ltd will shortly finalise tie-ups with local partners in West Asia to tap the booming construction sector in the region. It will also make a serious effort to tap ... More

BPCL to move beyond `convenient' retailing with vehicle care centres
THE public sector Bharat Petroleum Corporation Ltd (BPCL) is looking beyond retailing of petroleum products. The corporation's `convenient' retail outlets across the country will soon accommodate vehicle care centres to diagnose engine ... More

PEOPLE

New Dy MD at Toyota Kirloskar
BANGALORE: Toyota Kirloskar Motor Private Ltd has inducted Mr Shigeru Tomonoga as Deputy Managing Director of the company in place of Mr M. Seki. Mr Tomonoga joins the company's top management team of Mr A. Toyoshima, Managing Director, ... More

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