The Hindu Business Line : Thursday, December 22, 2005

KBX Motorbike's first board meet in Pune on Jan 24
KBX Motorbike Products Pvt Ltd, the 50:50 joint venture between BOSCH's Indian subsidiary, Kalyani Brakes, and the Italy-based Brembo, will hold its first board meeting here on January 24.The new company will export two-wheeler hydraulic brake ... More

Royal Classic plans IPO
ROYAL Classic Group, the Rs 250-crore Tirupur-based textile company and owners of the Classic Polo brand, plans an initial public offer by 2007. Mr R. Sivaram, Executive Director, Royal Classic Group, said the IPO is to fund the company's plans ... More

Gala Precision gets Rs 50 cr from GW Capital — Money to be used for acquisitions, plant in Chennai
AUTO component maker Gala Precision Technology has received Rs 50 crore funding from private equity firm GW Capital, which will be used to set up a manufacturing plant in China and part-fund acquisitions. The Gala Precision Technology Managing ... More

Innova, Corolla prices to go up
TOYOTA Kirloskar Motor is set to increase prices of Toyota Innova and Corolla in January. A press statement from the company said consistent steel price increases in the first half of 2005 followed by a sharp escalation in the cost of other ... More

RESTRUCTURING

Reliance demerger comes into effect
RELIANCE Industries Ltd has informed stock exchanges on Wednesday that its demerger scheme has become effective today. This has been possible as a certified copy of the Bombay High Court order dated December 9 sanctioning the scheme of ... More

MERGERS & ACQUISITIONS

Thomas Cook India to come under Dubai Investment fold
THOMAS Cook (India) Ltd, the Indian arm of Europe's second-biggest travel company Thomas Cook, is being taken over by Dubai Investment Group for an undisclosed amount. In a statement to the BSE on Wednesday, Thomas Cook India said Thomas Cook ... More

Capsugel acquires Bharti's capsule manufacturing biz
CAPSUGEL, a division of Pfizer that manufactures capsules, has acquired 92.76 per cent stake in Mr Rakesh Bharti Mittal-promoted Bharti Healthcare Enterprises for Rs 88.1 crore. The total value of the deal has been pegged at Rs 88.1 crore and ... More

ONGC-CNPC jt venture buys Petro-Canada assets in Syria
A 50:50 joint venture company of ONGC Nile Ganga BV, the fully owned subsidiary of ONGC Videsh Ltd (OVL), and Fulin Investments S.A.R.L., a subsidiary of China National Petroleum Company International (CNPCI), has jointly entered into an ... More

CORPORATE GOVERNANCE

SEBI unlikely to extend revised Clause 49 deadline
WITH less than a fortnight to go before the deadline for listed companies to comply with the revised Clause 49 of the Listing Agreement expires, the capital market regulator is in no mood to extend the deadline or dilute any of the provisions of ... More

NEW PROJECTS

Salem Steel to get Rs 1,200-cr facelift
SALEM Steel Plant, the onlystainless steel plant under Steel Authority of India Ltd (SAIL), will get a Rs 1,200-crore facelift with the Government deciding to double its capacity. The Minister for Steel, Chemicals and Fertilisers, Mr Ram Vilas ... More

Fiserv launches Indian operations
THE US-based Fiserv Inc, which offers IT solutions to financial services industries, today announced its entry into India with plans to open a software and services facility. The company is also keen on acquiring Indian firms with specific ... More

Chennai Port Trust to set up desalination plant
THE Chennai Port Trust is putting up a desalination plant to supply potable water to the trust's offices, residential quarters of employees, industrial canteen, hospital and other agencies in the port premises. Thirteen companies have expressed ... More

Sasken to set up centre in Mexico
TELECOM product company Sasken Communication Technologies Ltd will set up an international development and support centre in Mexico. The facility will be operational by the end of the first quarter of 2006. This centre will focus on embedded ... More

Hotel Leelaventure acquires land in Chennai, Hyderabad
HOTEL Leelaventure Ltd has concluded the acquisition of land at Chennai and Hyderabad for setting up new hotels. The Chennai hotel, which is a Rs 300-crore project, will have 300 rooms, a commercial complex and an Information Technology Park on ... More

OVERSEAS INVESTMENTS

JB Chemicals to set up Russian subsidiary
THE Mumbai-based JB Chemicals & Pharmaceuticals Ltd has decided to formalise its business operations in the Russian market by setting up a wholly- owned subsidiary called OOO Unique Pharmaceuticals Laboratories in Moscow. Initial investment in .. More

SOCIETY & DEVELOPMENT

ONGC launches health info system
`HEALTH Information System' (HIS), an IT enabled health initiative under project Dhanvantari' went live in the Oil & Natural Gas Corporation (ONGC) dispensary, at the Rajahmundry Asset on Tuesday. Rajahmundry is the seventh in the series of ... More

`Cos must integrate societal tasks at operational level'
SCOPE, the Standing Committee of Public Enterprises, has said companies should integrate their societal responsibilities at the operational and strategic levels. While public sector enterprises have been the flag-bearers of CSR (corporate ... More

GAIL sets up diagnostic centre
KOCHI: GAIL (India) Ltd has set up an air pollution related disease diagnostic centre at the government general hospital here at a cost of Rs 20 lakh. The centre was inaugurated by the company's Chairman-cum-Managing Director, Mr ... More

BONUS ANNOUNCEMENTS

Mercator Lines board okays bonus issue
MERCATOR Lines Ltd said its board has approved issue of bonus shares in the ratio of three shares for every two held. The company has also announced plans to raise up to $75 million via an issue of securities in the local or overseas market. ... More

SICK UNITS

FACT revival among 21 issues CM to take up with Centre
The State Cabinet has approved a health insurance scheme for families below poverty line. More

OUTLOOK

Hydrocarbon sector — L&T eyes tie-ups for deep-water expertise
LARSEN & Toubro is scouting for acquisitions or joint ventures through which it can obtain deep-water expertise to complete its capabilities in the hydrocarbons engineering sector. Two recent mega contracts (each over Rs 1,000 crore) from Oil ... More

Pfizer proposes new launches — Separate divisions for therapeutic segments set up
PFIZER Ltd, which is restructuring its products, plans to grow in the Indian market by launching new drugs from the parent company's portfolio and through product acquisitions. Speaking to Business Line, Mr Kewal Handa, Managing ... More