The Hindu Business Line : Friday, December 16, 2005

Celebrity Fashions IPO price band fixed at Rs 160-180
CELEBRITY Fashions Ltd, the owner of the brand Indian Terrain, is entering the capital market on December 19 with an initial public offering of 45.5 lakh equity shares of Rs 10 each through 100 per cent book-building process. The issue closes ... More

IOC saves Rs 1,500 cr with Kandla-Bhatinda crude pipeline
INDIAN Oil Corporation (IOC) has managed to save at least Rs 1,500 crore by converting the Kandla-Bhatinda products pipeline into a crude carrying facility and using it to feed its Panipat refinery. "We realised that we would need to sink in at ... More

ONGC board to consider interim dividend
THE board of directors of Oil and Natural Gas Corporation will meet on December 23 to consider a proposal for payment of interim dividend to the equity shareholders. Asked whether the Board intends considering any proposal for issue of bonus ... More

Natco launches anti-fungal drug
NATCO Pharma Ltd (NPL) has announced the launch of Vorizol (Voriconazole), a new generation anti-fungal drug. According to the company, Vorizol is effective in the treatment of fungal infections that are resistant to traditional therapies. ... More

Aurobindo Pharma gets USFDA nod to sell depression drug
AUROBINDO Pharma Ltd has announced that it has received final approval from the United States Food and Drug Administration (USFDA) for its abbreviated new drug application (ANDA) for Mirtazapine orally disintegrating tablets (ODT) in 15 mg and 30 ... More

Yellow Pages to be distributed at select petrol bunks in Coimbatore
GETIT Infomediary Ltd, publishers of GETIT Yellow Pages and Corporate pages of Coimbatore (including Tirupur, Pollachi and Udamalpet), has arranged to distribute free of cost the 2005-06 edition of Yellow Pages through select IOC petrol pumps in ... More

BUYBACK

Kirloskars cannot hike stake in Toyota Kirloskar beyond 11% — Original share buyback deal renegotiated
THE Kirloskars and Toyota Motor Corporation have renegotiated their original share buyback agreement as a result of which the Kirloskar stake in Toyota Kirloskar Motor (TKML) now cannot exceed 11 per cent. The Kirloskars had earlier this week ... More

CORPORATE DISPUTES

MoU controversy: DPE panel to study versions of ONGC, Ministry?
The ONGC management has proposed a crude oil production target of 27.8 million tonnes but the Petroleum Ministry wanted production from OVL, the company's overseas arm, to also be incorporated and the production target raised to 35 mt. More

OVERSEAS BORROWINGS

Nagarjuna Construction prices GDR at $ 5.11
NAGARJUNA Construction Company Ltd (NCC) has priced its $105 million (equivalent to about Rs 479-crore) global depository receipts (GDR) issue at $5.11 per GDR (Rs 233), each of which represents one equity share of the company of a face value of ... More

AWARDS & HONOURS

IDMA patent awards for Aurobindo Pharma
AUROBINDO Pharma Ltd has announced that three of its US patents have been selected for the `Patent Appreciation Award' of the Indian Drug Manufacturers' Association (IDMA) for 2004-05. In a release on Thursday, the company said that it was ... More

VSP bags energy award
VISAKHAPATNAM: The Visakhapatnam steel plant has bagged the national energy conservation award, instituted by the Union Ministry of Power, for the fifth time in succession. It was presented to the Chairman and Managing Director, Mr Y. ... More

HUMAN RESOURCES

MANAGEMENTORS: THE GATEWAY TO SUCCESS

Learning to manage `tomorrow'
Higher management education in India began in the 1960s, with the two institutes of management at Ahmedabad and Calcutta. Few would know however that the committee, which examined the need for them, recommended that India should first focus on ... More

Managing with more
MANAGERS with potential to assume greater responsibilities in their career are now ascending the learning curve through management development programmes (MDPs). Recognising the need for such programmes, the Indian Institute of Management, ... More

Finding the leader
It's interesting to see how Indian companies are increasingly aligning their business growth with individual employee growth. Management development is now high priority for companies on fast-track growth. "At Wipro, I would rather say management ... More

MERGERS & ACQUISITIONS

Tata Steel to buy Thai co for $130 m
TATA Steel announced today that it has signed definitive agreements with Cementhai Holding Co, a 100 per cent subsidiary of Siam Cement Co, Thailand to acquire its shares and invest additional equity in Millennium Steel Co. Cementhai Holding, ... More

US co to buy stake in Biocon's subsidiary
THE US-based clinical trials major SCIREX Corporation is buying a small stake in Biocon Ltd's subsidiary Clinigene International and the deal may be closed by the end of this fiscal year, according to Biocon's top officials. SCIREX is already a ... More

NEW PROJECTS

Japanese firm Yanmar forays into farm implements market
THE UPA Government sets store by ensuring agriculture growth through a focussed farm strategy entailing policy support and credit infusion on a higher gear. In view of the renewed thrust on agriculture to realise the overall eight per cent GDP ... More

Volkswagen team likely to visit Mangalore today
GERMAN automobile manufacturer Volkswagen, which is looking for a suitable location to set up its unit in the country, is examining some sites in Karnataka. In this regard, a Volkswagen team is likely to visit Mangalore during the week. ... More

ALLIANCES & JOINT VENTURES

Glenmark inks pact with InvaGen for US market
GLENMARK Pharmaceuticals Ltd and the US-based InvaGen Pharmaceuticals Inc have entered into a pact for the American market. The two companies will jointly develop, file and market seven generic pharmaceutical products specifically for this ... More

IOC-OIL combine explores tie-up with Norway co
THE Indian Oil Corporation (IndianOil)-Oil India Ltd combine, which is eyeing oil and gas assets overseas, had a preliminary meeting with a high-level team of Norwegian energy major Statoil ASA for possible agreement for future ... More

BONUS ANNOUNCEMENTS

Torrent Pharma announces stock split, 1:1 bonus
TORRENT Pharmaceuticals Ltd on Thursday announced a stock split under which each of its equity of shares of Rs 10 face value will be split into two shares of Rs 5 each. The Ahmedabad-based pharmaceutical company has also announced a 1:1 bonus ... More

SICK UNITS

Fresh revival plan for Dunlop to be submitted to BIFR on Jan 27
THE Ruia Group is planning to submit a fresh revival scheme for Dunlop India at the next Board for Industrial and Financial Reconstruction (BIFR) meeting on January 27. The new management has also initiated discussions with the trade unions for ... More

OUTLOOK

Hindustan Latex targets Rs 1,000-cr turnover
The company has launched a "women's Healthcare Pharma Division" to cater to the reproductive healthcare needs of women, covering all age groups. More

Venky's bets big on export of value-added chicken to Japan
COME April 2006 and Japanese homes can have their favourite chicken Teriyaki, ready to eat and sporting a `Made in India' label . The Pune-based VH group is setting up a spanking new Rs 15-crore plant which will process 44,000 chicken a day to ... More

Mankind Pharma targets Rs 1,000-cr turnover in 5 years
MANKIND Pharma has set itself an ambitious target of achieving a turnover of Rs 1,000 crore in the next five years. To achieve this, the company plans to invest Rs 70 crore in the next two years in scaling up its manufacturing capability and ... More

HPL eyes 20% sales growth
KOCHI: HPL India Ltd, a manufacturer of switchgears and protection devises, is targeting a 20 per cent sales growth in Kerala. Last year, the company had a business of Rs 4 crore from the State, which would be increased by Rs 5 crore next ... More

ISMT to focus on exports
ISMT Ltd, the entity established after the proposed merger of Indian Seamless Metal Tubes Ltd (ISMT) and Indian Seamless Steel and Alloys Ltd (ISSAL), will focus on the export market. Talking to presspersons here, Mr Rakesh Duda, Regional ... More

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DD starts selling airtime for Pakistan series

Kirloskars cannot hike stake in Toyota Kirloskar beyond 11% — Original share buyback deal renegotiated

No pressure on interest rates for now: Kamath

Japanese firm Yanmar forays into farm implements market

8 defunct urea PSUs to be restarted: Paswan

Fitch upgrades ratings for SBI, ICICI Bank

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