The Hindu Business Line : Friday, November 25, 2005

Ashok Leyland hikes prices
ASHOK Leyland Ltd has informed dealers of a 2.5 per cent hike in prices of its vehicles. Mr K. Sridharan, Executive Director-Finance, cited higher input cost as the reason for the price hike. In an informal chat with journalists on the ... More

Matrix Lab to invest $18 m in Chinese co
MATRIX Laboratories Ltd proposes to invest $18 million in the China-based Mchem Pharma Group Ltd and its subsidiaries — Defeng Mchem Pharmaceuticals Chemicals Company Ltd and Xiamen Mchem Laboratories Ltd. The company has informed the ... More

Opto Circuits to raise Rs 100 cr via public offer
OPTO Circuits (India) Ltd, a manufacturer of global non-invasive healthcare equipment, on Thursday announced it will tap the market to raise up to Rs 100 crore. The decision comes after the company's directors approved the proposal at its ... More

`No plans for small car'
FORD India has no plans to enter the small car segment and would like to retain Ford Ikon as its entry-level model. The company, which launched Ford Fiesta in the C segment to compete with the likes of Toyota Corolla, is `excited' about the ... More

New utility vehicle from Force Motors
AUTOMOBILE manufacturer Force Motors Ltd has announced the launch of the Minidor cB, a utility vehicle in the less-than-one-tonne payload segment. The company is already present in the greater-than-one-tonne payload segment utility vehicles ... More

AWARDS & HONOURS

BHEL awards for employees
NEW DELHI: Bharat Heavy Electricals Ltd (BHEL) on Thursday announced the winners of its `Excel' awards for 2004-05 to be presented to its 28 employees for their meritorious achievements in various fields. The awards will be presented ... More

ENVIRONMENT

`Give sops to power utilities to go in for carbon trading projects'
THE Ministry of Environment and Forests has approached power sector regulators, asking them to incentivise power utilities to go in for projects that can earn revenues through carbon trading. This comes in the wake of concerns raised by power ... More

MERGERS & ACQUISITIONS

Tata Chem to buy UK soda ash firm
SIX months after it was outbid in its open offer for an Egyptian fertiliser company, the Rs 3,008-crore Tata Chemicals Ltd (TCL) returned to the acquisition fray today, this time pursuing interests in soda ash. The company informed the BSE ... More

Ruia group on acquisition mode
THROUGHOUT this year a number of names had hit the media headlines regarding acquiring of Jumbo Group's controlling stake in three tyre companies, especially the Bangalore-based Falcon Tyres. The names in circulation were mostly from the tyre ... More

Ruia group close to clinching Dunlop buy
THE Ruia group Chairman, Mr Pawan Kumar Ruia, said on Thursday that the group is nearing its acquisition of a controlling stake in Dunlop India Ltd, Falcon Tyres and its wholly-owned subsidiary India Tyre. "The financial part of the deal is ... More

`M&A market in India seeing unprecedented boom'
THE mergers and acquisitions market in India (both by Indian companies within the country and outside and by global companies looking to acquire Indian companies) is witnessing an unprecedented boom, according to Ms Vedika Bhandarkar, Managing ... More

Govt allows Coke to buy out Indian shareholders in Hindustan Coca-Cola
THE Government today allowed Coca-Cola South East Asia Holdings to buy out the Indian shareholders in Hindustan Coca-Cola Holdings Private Ltd. This has been made possible by deleting an entry level condition that stipulated that 26 per cent ... More

Hindustan Latex not keen on taking over KSDP
The impasse is due to differences over the question of settling the employee liabilities as also the retention of the existing workforce. More

CORPORATE GOVERNANCE

Comply or face penalties — No extension of Clause 49 deadline, says SEBI chief
"As you get closer to December, this is not the time to wake up and say what do we do with the large boards. If your companies are considered as Fortune 500 companies, nine months is enough to address this problem." More

Most PSU cos yet to comply
WITH the deadline just over a month away, public sector companies that are listed have yet to comply with the requirements of Clause 49 of the Listing Agreement on composition of the board of directors. Of the nine PSUs in the Nifty, only one ... More

ALLIANCES & JOINT VENTURES

Nicholas Piramal inks deal with hospital products co
NICHOLAS Piramal India Ltd (NPIL) expects to earn annual revenues of about $12-15 million from the manufacturing-and-supply agreement that it has inked with a global hospital-products company. The initial revenues from the 10-year agreement ... More

MS Thermex plans expansion
MS Thermex, the joint venture between the Germany-based Hennegsdorfer Stahl Engineering Gmbh (HSE) and the Hyderabad-based MS Agarwal Foundries, has decided to embark on a major backward integration programme involving a capital investment of ... More

Sakthi Auto pact with French co
COIMBATORE: Sakthi Auto Components Ltd has inked a pact with Auto Chassis International (ACI), France, for supply of steering knuckles and other components for Renault cars. Mr M. Manickam, Managing Director, told Business Line ... More

SOCIETY & DEVELOPMENT

HSBC staff, L&T donate building for school
EMPLOYEES of HSBC's Group Services centre in Hyderabad and L&T Ltd, have come together to construct a building for the Madhapur Mandal School in Hyderabad for disadvantaged children. Built at a cost of Rs 30 lakh, the Madhapur Mandal School has . More

SICK UNITS

SBI asked to submit rehab scheme for Dunlop India by Dec 14
THE reconstituted Bench of the Appellate Authority for Industrial and Financial Reconstruction (AAIFR) is said to have asked State Bank of India — an operating agency responsible for preparing a detailed rehabilitation scheme (DRS) for ... More

OUTLOOK

Ford Fiesta's diesel version may lead sales
IF the initial response is anything to go by, the diesel version of the Ford Fiesta is expected to lead sales of the new model, deliveries of which will begin in the second week of December. About 1,200 cars have been booked so far for the new ... More

ONGC in talks with SAIL for coal bed methane supply
ONGC is negotiating a gas purchase agreement with Steel Authority of India Ltd (SAIL) for supplies of coal bed methane (CBM) from the Bokaro reserves in Jharkhand. CBM is expected to replace SAIL's demand for coking coal primarily in Bokaro and ... More

ONGC to finalise plan soon for coal gasification project
ONGC is expected to finalise its plan for setting up a pilot underground coal gasification project in technical collaboration with Stochinsky Institute of Russia next month. The project is estimated to cost between Rs 75 crore and Rs 100 crore. ... More

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