The Hindu Business Line : Tuesday, November 08, 2005

L&T giant platform sets sail for Abu Dhabi from Hazira
LARSEN & Toubro (L&T) set sail a giant gas injection platform for the Bunduq Company in Abu Dhabi from its Hazira facility. According to the company, this is among the heaviest single module (at 2,400 tonnes) to be loaded out from a facility More

OVL awarded offshore exploration block in Vietnam
VIETNAM'S national oil company Petro Vietnam has awarded the offshore exploration block 128 in Phu Khanh Basin to ONGC Videsh Ltd (OVL) with 100 per cent participating interest and operatorship. According to a statement issued here on Monday ... More

Welspun-Gujarat bags Rs 301-cr order from Algeria
WELSPUN-Gujarat Stahl Rohren Ltd has received a Rs 301.5-crore order from Stroy Transgas (Canadian gas major) as the EPC contractor of Sonatrach, Algeria. The company had received a Rs 500 crore order from PGN, Indonesia a fortnight ago. ... More

Mico to launch common rail injection systems soon
MICO Bosch said on Monday that it expects to launch common rail injection systems in India sooner than its competitors. During the rollout of the 30 millionth PF pump, Mico's Managing Director, Dr Albert Hieronimus, told newspersons here that ... More

DMK chief's wife relinquishes stake in Sun Network
THE DMK chief, Mr M. Karunanidhi, on Monday told a press conference that his wife had "relinquished" her 20 per cent stake in Sun Network. "She has very amicably relinquished her shares and received the proceeds," Mr Karunanidhi said. He said ... More

Bombay Rayon plans IPO to raise Rs 94 crore — Price band fixed at Rs 60-70 a share
BOMBAY Rayon Fashions Ltd is entering the capital market with an initial public offering of 1.35 crore equity shares of Rs 10 each. The price band for the issue has been fixed at Rs 60 to Rs 70 per equity share. The company hopes to raise ... More

Aurobindo AIDS drug gets nod
HYDERABAD: Aurobindo Pharma Ltd (APL) has announced that it has received the tentative approval of the United States Food and Drug Administration (USFDA) for its anti-AIDS drug Lamivudine oral solution 10mg/ml. The USFDA approval ... More

PowerGrid bags Afghan project
NEW DELHI: Power Grid Corporation of India Ltd (PowerGrid) announced on Monday that it has secured its first World Bank funded overseas consultancy assignment from the Ministry of Energy and Water, Government of Afghanistan. PowerGrid has ... More

PREFERENTIAL ALLOTMENTS

Matrix Labs plans pref offer to ex-promoters of Docpharma
THE board of directors of Matrix Laboratories Ltd has approved a proposal to issue 35 lakh equity shares of Rs 2 each at a price of Rs 225 per share to the erstwhile promoters of the Belgium-based Docpharma NV, which was recently acquired by the ... More

Granules India plans pref offer
HYDERABAD: Granules India Ltd has informed the stock exchanges that its board of directors at a meeting held last week had considered and approved the issue of warrants not exceeding 10 per cent of the paid-up equity share capital to the ... More

CORPORATE DISPUTES

TRAI disallows higher call charges to BSNL, MTNL mobile networks
TELECOM regulator TRAI has intervened in the tariff schemes of Idea Cellular and Hutch that involved higher charges for calling MTNL and BSNL mobile subscribers. "TRAI has intervened in the tariff schemes of Idea Cellular and Hutch which ... More

OUTSOURCING

Nissan starts outsourcing non-core work to India
EVEN as it is testing the waters in the country's automobile market, Nissan Motor Company's US operations has started outsourcing non-core work to India. Currently confined to work at one of its North American assembly plants in Smyrna in ... More

AWARDS & HONOURS

ONGC Academy bags training award
ONGC Academy, the in-house management development institute of Oil and Natural Gas Corporation Ltd, has been adjudged the winner of the Golden Peacock National Training Award for 2005. The Academy was adjudged the best from 186 entries, a ... More

IOC's IIPM gets award
THE Indian Oil Institute of Petroleum Management (IIPM) has been conferred with the Golden Peacock National Training Award 2005. Mr V.C. Agrawal, Director (Human Resources), IOC, and Mr Anand Kumar, Executive Director of IIPM, received the award ... More

RESTRUCTURING

Jindal Stainless to complete demerger of lifestyle, architecture units by March
JINDAL Stainless Ltd (JSL), the largest stainless steel manufacturer in the country, has set March 2006 as the deadline for completing the hiving off process of its lifestyle and architecture divisions into two companies. The company has ... More

MERGERS & ACQUISITIONS

Balrampur Chini to buy Dhampur Sugar unit for Rs 182 cr
BALRAMPUR Chini Mills Ltd will be acquiring a unit of Dhampur Sugar Mills Ltd located at Rauzagaon in Barabanki district of Uttar Pradesh for Rs 182 crore. According to announcements made by the two companies, the capacity of the unit is 7,500 ... More

NEW PROJECTS

FACT calls for EoI for downstream projects on BOT or jt venture route
THE ailing Fertilisers and Chemicals Travancore Ltd (FACT), in a bid to improve its performance by optimum utilisation of its existing facilities such as infrastructure, land and utility services, has called for expression of interest from ... More

ALLIANCES & JOINT VENTURES

Gulf Oil ties up with Indian Oil for sale of car care products
GULF Oil Corporation Ltd has entered into an arrangement with Indian Oil Corporation Ltd for sale of its Gulf Car Care Products through the latter's retail outlets. According to a statement issued here on Monday, Gulf Oil said this arrangement ... More

SriLankan Airlines in pact with Taj Hotels
SKYWARDS, the frequent flyer programme of SriLankan Airlines and Emirates, has entered into a partnership with Taj Hotels Palaces and Resorts. Under the partnership, Skywards members will receive 500 `miles' or points when they stay at any Taj ... More

SOCIETY & DEVELOPMENT

Dr Reddy's Foundation, MCH in pact for LABS
DR Reddy's Foundation (DRF) and the Municipal Corporation of Hyderabad (MCH) have announced a joint initiative here on Monday to implement the Livelihood Advancement Business School (LABS) programme in Hyderabad city. As part of this ... More

OUTLOOK

Wockhardt to launch injectable insulin soon — Plans second R&D centre in Aurangabad
PHARMACEUTICAL major Wockhardt Ltd is hoping to launch its long-acting injectable insulin, Glargine, by the end of next year or early 2007. Speaking to newspersons on the sidelines of a research & development (R&D) conference organised by ... More

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