The Hindu Business Line : Tuesday, January 10, 2006

Reliance demands compensation for selling petro products below cost price
Asked why Reliance was selling fuel below cost when it was not bound by any Government diktat unlike the PSU oil companies, Mr Narang said the company could not sell petrol and diesel at a price higher than its competitors. More

Maruti hikes prices by up to Rs 15,000
MARUTI Udyog Ltd (MUL) today hiked the prices of its vehicles across all models between Rs 1,500 and Rs 15,000. The increase in price will be effective from today, the company said in a statement. The price rise was due to increase in input ... More

Sanghi allots 2.89 cr shares to raise FDI
HYDERABAD: Sanghi Industries Ltd informed the stock exchanges on Monday that its board of directors at a meeting on January 6 had issued and allotted 2.89-crore equity shares of Rs 10 each to Spinnaker Global Funds under the foreign direct ... More

GlaxoSmithKline launches vaccine for whooping cough
GLAXOSMITHKLINE Pharmaceuticals (GSK) has announced the launch of its vaccine Boostrix used for the treatment of whooping cough in the country. It has been registered for use in children over the age of four years, who have already received ... More

Assam Co completes assets valuation of 3 business units
ASSAM Company Ltd (ACL) today said that assets valuation of its oil, gas, and tea division has been completed. In a statement issued here, the company said that while the oil and gas division is estimated in the range of $157-187 million , the ... More

Nagarjuna Const bags Rs 520-cr NHAI order
HYDERABAD: Nagarjuna Construction Company Ltd has announced that it has secured an order valued at Rs 520 crore from the National Highways Authority of India for construction of highways from the Oral-Bhognipur section on NH No: 25 (35 km) ... More

TVS Tyres' new variants
HYDERABAD: TVS Tyres, a TVS Group company, will roll out 10 more new tyres (two-wheeler) during 2006. Mr S. Balasubramanian, Vice-President (Marketing) of TVS Tyres, told presspersons here on Monday that the company has targeted an ... More

PREFERENTIAL ALLOTMENTS

SEBI exempts Pasupati Acrylon promoters' from making open offer
SEBI has granted exemption to the promoters of Pasupati Acrylon Ltd from making an open offer in the company's proposed preferential allotment of 1.4 crore equity shares to the promoter group entities. After the preferential allotment, the ... More

OVERSEAS BORROWINGS

Hythe Securities plans to subscribe $12 m worth GDRs of GV Films
THE London-based Hythe Securities Ltd plans to place $12 million (about Rs 55 crore) in the proposed GDR issue of G.V. Films. The GDR issue is about $20-25 million and is filed with the Luxemburg Stock Exchange and also filed for an ... More

AWARDS & HONOURS

Liena Fashions, Sri Govindaraja Mills bag quality award
THE Chennai-based garment company, Liena Fashions (India) Pvt Ltd and Sri Govindaraja Mills Ltd from Aruppukottai were adjudged winners in the competition for the best `5-S' practices, the Japanese techniques for industrial house keeping ... More

Brij Mohan Lall award for NTPC, Jet Airways
JET Airways and NTPC Ltd have bagged the Brij Mohan Lall Munjal awards for Excellence in Learning and Development Tools in the private and public sector categories, respectively. The awards were given at the Mindmine Summit 2006 held in the ... More

TAXATION

Industry to have a say in `large taxpayer units' scheme implementation
CORPORATE India will have a say in the manner in which the proposed large taxpayer units (LTU) scheme should be implemented. The Finance Ministry has agreed to co-opt an industry member in each of the four functional groups that has now been ... More

HUMAN RESOURCES

ONGC worried over exodus of specialists
WORRIED over the exodus of experienced specialists and technical experts to private players in the oil exploration sector, ONGC has approached the Department of Public Enterprises (DPE) seeking its consent for independently fixing salaries and ... More

Pop a pill and hang your hangover
THE day-after syndrome is getting more common. While you cannot stop your people from partying, the best you can do is help them get to work focussed as ever. This is the subtle message Herbal Science is conveying to HR managers and employers ... More

Stir at Nicholas Piramal
MUMBAI: A group of medical representatives and sales promotion representatives held a protest in front of drug company Nicholas Piramal India Ltd's corporate office in Mumbai on Monday. The protest was against the company's ongoing ... More

MERGERS & ACQUISITIONS

EGM called to okay Kochi Refineries, BPCL swap ratio
THE Department of Company Affairs has convened an extraordinary general body meeting (EGM) of the shareholders and creditors of Kochi Refineries Ltd (KRL) and the Bharat Petroleum Corporation Ltd (BPCL) here on January 21 to get the swap ratio ... More

Maini Precision eyeing overseas acquisitions
MAINI Precision Products (MPP), the flagship company of the Maini Group, is eying overseas acquisitions as part of its future expansion strategy. The company, which is ramping up its operations here with an investment of Rs 18.5 crore, has ... More

Adidas AG hiking stake in arm to 100 pc
ADIDAS AG will hike its equity in Adidas India Marketing Private Ltd (AIM) from 91.4 per cent to 100 per cent, following a Foreign Investment Promotion Board (FIPB) clearance of its proposal. The increase in the stake would take place through ... More

NEW PROJECTS

Vimta Labs plans to raise Rs 125 cr
AIMED at funding the second phase of expansion, the board of directors of Vimta Labs Ltd (VLL) has decided to raise funds of up to Rs 125-crore. In a press release here on Monday, the company said its board has decided to raise funds from ... More

H&R Johnson expands capacity in AP plant
TILE manufacturer H&R Johnson (India) Ltd is investing around Rs 50 crore towards capacity expansion at its Vijayawada floor tile unit in Andhra Pradesh. With the new investment in the facility, the manufacturing capacity at Vijayawada will ... More

OVERSEAS INVESTMENTS

IOC to finalise acquisition plans for African assets
Indian Oil Corporation's (IOC) proposals for the acquisition of exploration, production and downstream assets in two to three African countries, including Gabon in West Africa, is expected to reach a definitive stage in the next two months. It ... More

Rapidigm to launch operations in Dubai, UK
SERVICES company Rapidigm (India) Ltd is all set to launch operations in Dubai and UK. Mr Vivek Talghatti, Managing Director, Rapidigm, told Business Line that it had identified the Gulf as the growing market for IT services. "We plan to ... More

TRADE & LABOUR UNIONS

Toyota management, workers' union to meet on Thursday
THE Labour Commissioner has posted the conciliatory meeting between the Toyota Kirloskar Motor (TKM) management and the workers' union to January 12. The TKM management had earlier asked the Labour Commissioner to postpone the meeting by ... More

Practices `inhuman'; no says company
THE Toyota Production System, which has become a benchmark for the global automobile industry, has drawn flak from some of its workers who claim that certain of its practices are "inhuman." "This practice of timing us for assembling the vehicle ... More

ALLIANCES & JOINT VENTURES

MICO, Bosch propose new venture for trading in filters
MICO and the Germany-based Robert Bosch group will be setting a new joint venture company for trading in filters. The two companies already have close links in terms of technology sharing and also have other joint ventures. According to the ... More

SOCIETY & DEVELOPMENT

ONGC contributes Rs 40 lakh for bridge in East Godavari
OIL and Natural Gas Corporation Ltd (ONGC) has contributed Rs 40 lakh towards bridge construction on Panchanadi drain at Odalarevu in East Godavari district. Mr A.A. Khan, Asset Manager of ONGC's Rajahmundry Asset, handed over the cheque to Mr ... More

OUTLOOK

SAIL charting new mining proposal — Dry beneficiation plant at Chhattisgarh
HAVING opted for the deployment of a different kind of technology at the Rowghat iron ore mines, the Steel Authority of India Ltd (SAIL) is firming up a fresh mining proposal for submission to the Chhattisgarh Government. The deployment of the ... More

Mitsubishi Chemical Corp wants Bengal govt to retain current holding
EVEN as plans are being firmed up to increase the equity base of its Indian subsidiary, MCC PTA India Corp Pvt Ltd (MCPI) from its existing level of $123 million, Mitsubishi Chemical Corporation (MCC) of Japan is keen that the West Bengal ... More

PERFORMANCE

DaimlerChrysler India tops 2,000-sales mark
DAIMLERCHRYSLER India said it has sold 2,019 vehicles in India and the Indian sub-continent during 2005, crossing the 2,000-mark for the first time in its 10-year history. During this period, the company has also netted the highest-ever sales ... More

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`Big' small cars to miss fair action

Industry to have a say in `large taxpayer units' scheme implementation

Demand-supply factors may prop up metals

Copters to clean power lines in Northern Grid — But consumers may have to shell out more

Suguna group to export 'portion' chicken to Japan

Reliance demands compensation for selling petro products below cost price

SAIL charting new mining proposal — Dry beneficiation plant at Chhattisgarh

In Focus

Infrastructure woes stare IT sector

IPO Scams