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Sunday, September 18, 2005


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Oriental Insurance bags Paramount Airways deal
ORIENTAL Insurance Company Ltd has negotiated and clinched a deal to insure the aircraft of Coimbatore-based Paramount Airways. The Oriental Divisional Manager, Mr C. Kumar, said the four public sector general insurance companies and Bajaj ... More

Mounting orders for compact spinning system — Suessen set to bring down machinery delivery time
GERMAN textile machinery major Suessen, manufacturer of open-end spinning and compact spinning systems, plans to prune machinery delivery time by three months to meet the demand for `compacting' machinery in India. "We have orders till February ... More

Maruti to set up world-class driving schools in 15 cities
MARUTI Udyog Ltd on Friday announced that it would set up world-class Maruti Driving Schools across 15 cities in India, this year. The driving schools are modelled on international lines, where learners will be imparted classroom training, ... More

PRIVATE PLACEMENT


Peninsular Capital to foray into `margin funding'
PENINSULAR Capital Market plans to enter `margin funding' in a big way, for which it needs money. Therefore, the Kochi-based company will first raise Rs 10 crore by way of private placement of shares. Later, perhaps next year, it will come out ... More

PREFERENTIAL ALLOTMENTS


Avon Organics converts warrants
HYDERABAD: The allotment committee of Avon Organics Ltd at its meeting held on Saturday approved and converted 4.89-lakh preferential share warrants into 4.89-lakh equity shares of Rs 10 each, which were issued at a premium of Rs 60 per ... More

OVERSEAS BORROWINGS


Madhucon clears $80-m global offer
HYDERABAD: The board of directors of Madhucon Projects Ltd on Saturday approved the proposal for global issue for raising funds to the tune of $80 million equivalent to Rs 360 crore. The company proposes to raise the funds through issue ... More

AWARDS & HONOURS


ITC e-Choupal wins Development Gateway Award
ITC Ltd has won the Development Gateway Award for 2005 for its ITC e-Choupal initiative which has already grown into a movement in rural India. ITC is the first Indian company and the second in the world to win this $1,00,000 award. ... More

MERGERS & ACQUISITIONS


M&M puts in bid to buy Romanian co
MUMBAI: Mahindra & Mahindra Ltd (M&M) on Saturday informed the Bombay Stock Exchange that it has put in a bid to acquire the Government of Romania's equity stake in SC Tractorul UTB SA, Brasov. The company is in the process of ... More

NEW PROJECTS


NRI firm sets up roller flour mill near Coimbatore
A RS 13.5-crore project — Galfs Agro Food Industries (India) Private Ltd is coming up at Ramapattinam near Pollachi in Tamil Nadu. The plant is being formally inaugurated on September 18. The Chairman and Managing Director, Mr K.V. ... More

Concor plans Rs 2,500-cr capex over five years
Container Corporation of India (Concor) plans to spend about Rs 2,500 crore as capital expenditure over a five-year period. The expenditure would be towards container acquisition, developing inland container depots, meeting joint venture ... More

Avesthagen, Meditab set up biological manufacturing unit
AVESTHA Gengraine Technologies Pvt. Ltd has announced that it has jointly set up a biological manufacturing venture in Bangalore. It has partnered with Meditab Specialities Pvt. Ltd for the venture. Without giving investment figures, ... More

OUTLOOK


Godrej appliances unit aims at Rs 750-cr turnover
THE appliances division of Godrej & Boyce Mfg Co Ltd hopes to generate a turnover of Rs 750 crore in the current year. In 2004-05, appliances sales contributed Rs 550 crore to the company's turnover. Addressing a news conference held here on ... More

French major Degremont eyes desalination projects in India
There are funding bodies that are willing to invest in such projects. This makes it smoother for desalination projects to take off in the country. More

HPCL betting on better gross refining margins to cut losses
The financial health of the oil marketing companies is now solely dependent on maximising the gross refining margin by way of using the right mix of cheaper crude. More

TRENDS


After 15 years of reforms, desi firms hold their own against MNCs
HOMEGROWN companies have managed to hold their own against competition from multinationals across most sectors, nearly a decade and a half after the economy opened up to foreign competition. Although the doomsayers had predicted the curtains ... More

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