The Hindu Business Line : Saturday, August 13, 2005

Visakha Dairy to strengthen brand, export milk products
VISAKHA Dairy is introducing two new products (fruit curds and table butter) and has plans to export tetra pack milk to other States, according to the Managing Director, Dr N.V. Venkata Rao. In an interview here on Friday, he said Visakha was ... More

G Corp acquires BOC India's Yeshwanthpur land
THE city, which is fast becoming a hot-spot for real estate developers, witnessed one more of its prime property snapped up by a Delhi-based company. The seller, a leading industrial gas manufacturing company had, in a notice to the Mumbai ... More

Panacea Biotec to develop hair loss cure with US knowhow
In order to tap the lucrative hair-loss cure market, Panacea Biotec has entered into an in-licensing agreement with the National Institute of Health (NIH), US, whereby the Indian company will complete the development of NIH's technology and ... More

PowerGrid bags Afghan order for transmission project
POWER Grid Corporation of India Ltd (PGCIL), a Government of India enterprise, has bagged a transmission project in Afghanistan worth about Rs 479 crore. PGCIL and Ministry of External Affairs entered into an agreement to this effect on ... More

Rakesh Jhunjhunwala on Viceroy Hotels' board
THE board of directors of Viceroy Hotels Ltd at its meeting held on Thursday approved a resolution to appoint Mr Rakesh Jhunjhunwala as Additional Director. Mr Jhunjhunwala and associates were among the strategic investors to whom the company ... More

Royal Enfield appoints new CEO — Unveils 2 new variants
BIKE-MAKER Royal Enfield on Friday launched two new variants and announced the appointment of Mr R.L. Ravichandran, former marketing head of Bajaj Auto, as its new CEO. Upbeat about its new launches, the Eicher Group company hopes to clock ... More

Hyundai hikes Santro prices
HYUNDAI Motor India has announced a price hike of up to Rs 11,000 of its flagship brand Santro Xing. The hike serves to cover increased input costs and partially correct the reduction in dealer margins that was effected in June. The price ... More

BHPV bags Rs 17.54-cr order
VISAKHAPATNAM: Bharat Heavy Plate and Vessels Ltd (BHPV) has got an order worth Rs 17.54 crore from the Hindustan Petroleum Corporation Ltd's Visakha refinery to supply fired heaters on turnkey basis, according to a press release issued ... More

MRPL to roll out branded retail outlets
AFTER ONGC its now the turn of group subsidiary Mangalore Refinery and Petrochemicals Ltd (MRPL) to roll out branded petroleum retail outlets. According to sources, 10 to 15 such outlets will be launched in Karnataka this year. The National ... More

From TISCO to Tata Steel
MUMBAI: Tata Iron and Steel Company Ltd has informed the BSE that the name of the company has been changed from The Tata Iron & Steel Company Ltd to Tata Steel Ltd with effect from August 12. ... More

HCC bags Rs 218-cr order
MUMBAI: Hindustan Construction Co Ltd (HCC) has bagged a Rs 218.35-crore contract from IRCON International Ltd for construction of one section of the Pir Panjal tunnel on the Laole-Quazigund section of Udhampur-Baramulla railway line ... More

Dy Chairman of GESCO
MUMBAI: The board of directors of Great Eastern Shipping Co Ltd has appointed Mr Bharat K. Sheth as the Deputy Chairman of the company with effect from August 12. He has been thus re-designated as Deputy Chairman and Managing Director of ... More

PREFERENTIAL ALLOTMENTS

Danlaw board meet on Aug 22
THE board of directors of Danlaw Technologies India Ltd will meet on August 22 to consider preferential allotment of equity shares through private placement to non-promoters. In a communication to the Bombay Stock Exchange here on Friday, the ... More

SQL Star members okay pref offer
THE shareholders of SQL Star International Ltd have approved the allotment of 25,00,000 equity shares of Rs 10 each at a price of Rs 40 on a preferential basis following a recent move by Mr N.R.Ganti and others to takeover the company. At an ... More

COURTS/LEGAL ISSUES

Lodha moves SC against initiation of criminal cases
MR Rajendra S. Lodha on Friday moved the Supreme Court challenging an order of the Calcutta High Court rejecting his petition seeking quashing of criminal proceedings against him and three others. Criminal proceedings were initiated in a lower ... More

MERGERS & ACQUISITIONS

Pilani Invest buyout deal wrapped up for Rs 325 cr — Part-funding by IL&FS
THE B.K. Birla and Kumarmangalam Birla combine has completed a leveraged buyout deal for around 24 per cent and 7 per cent stake respectively in Pilani Investments and Industries Corporation from the G.P. Birla and S.K. Birla groups for a total ... More

NEW PROJECTS

Hind Sanitary plant expansion by year-end
THE expansion of the Hindustan Sanitaryware plant at Bibinagar near Hyderabad will be completed by December. It will then become the largest such unit at a single location in Asia, according to Mr Sanjay Kalra, Head (sales). At a press meet ... More

ALLIANCES & JOINT VENTURES

HPCL scouting for foreign partner for Bhatinda project
HINDUSTAN Petroleum Corporation Ltd (HPCL) is set to finalise a joint venture overseas partner for its 9-million-tonne per annum (MMTPA) refinery at Bhatinda in Punjab. "Talks are at an advanced stage with three-four foreign companies for a 26 ... More

Cryo Stemcell in pact with Malaysian centre for research
STEM cell bank Cryo Stemcell Karnataka Pvt Ltd on Friday signed a knowledge and research sharing Memorandum of Understanding with StemLife of Malaysia. Cryo Stemcell works in the area of umbilical cord blood stem cells. It will share with ... More

OUTLOOK

Laxmi Mittal likely to dilute stake in Group as profits decline
THERE is mounting speculation about the future financial movement of the Laxmi Mittal Group — world's largest individual steel producer. It is revealed that Mr Laxmi Mittal, who is one of the richest British businessman of Indian ... More

Toyota Kirloskar open to multiple plant locations
TOYOTA Kirloskar Motor Pvt Ltd is open to the idea of having plants in more than one location in the country. The company's reasoning is that plants in multiple locations help create jobs, which means more economic growth. This, in turn, may ... More

Ajanta Pharma de-risks international business
AJANTA Pharma is wiser from its experience in the four erstwhile Soviet markets that it exited earlier this year. After the CIS experience, Ajanta has de-risked its international business by being present in 40 countries with a basket of about ... More