The Hindu Business Line : Saturday, January 21, 2006

More layoffs in Facor
FERRO Alloys Corporation Ltd (Facor) at Garividi near Vizianagaram has announced more layoffs from the present level of 40 per cent to 60 per cent with effect from Wednesday, sparking off protests from workers who are agitating against layoffs. ... More

Prestige Estates to expand biz in hospitality sector
PRESTIGE Estates Projects has announced its expansion plans in its newly diversified area of hospitality business. The company, which had completed 120 developments covering 10 million sq ft since its foray into the business in 1985-86, ... More

HR service firm Ma Foi plans to enter IT sector
MA Foi Management Consultants, a staffing and HR service provider, will enter into IT sector through a wholly owned subsidiary, Minvesta Infotech, according to Mr Pandia Rajan, Managing Director, Ma Foi. Speaking at the inauguration of Ma Foi's ... More

Toyota Kirloskar to lift lockout from today — Revoke suspension of workers, demands union
TOYOTA Kirloskar has decided to lift the lock out of its factory from Saturday but the workers' union have sought another round of talks before taking a decision on returning to work. A Toyota Kirloskar spokesperson said that the company ... More

Dubai Investment launches financial services vehicle
DUBAI Investment Group (DIG) has announced the launch of `Dubai Financial (DF)' as its flagship financial services vehicle. Dubai Financial will operate as a subsidiary of Dubai Investment Group, the global financial investor of Dubai ... More

TNPL becomes eligible to trade carbon credits
TAMIL Nadu Newsprint and Papers Ltd (TNPL) has become eligible to trade carbon credits. It has got its bio-methanation plant registered with the United Nations Framework Convention on Climate Change (UNFCC) as a clean development mechanism, ... More

Aurobindo Pharma gets UK regulator's nod for facility
AUROBINDO Pharma Ltd has announced that it has achieved another important milestone by obtaining the approval of the United Kingdom Medicines and Healthcare products Regulatory Agency (UK MHRA) for unit-XII facility. In a press release here on ... More

GAIL pays Rs 291 cr as interim dividend
MR Proshanto Banerjee, Chairman & Managing Director of GAIL (India) Ltd, handed over a cheque of Rs 290.96 crore to the Petroleum Minister, Mr Mani Shankar Aiyar, towards an interim dividend for the financial year 2005-06. The Government holds . More

PREFERENTIAL ALLOTMENTS

Suryalakshmi Cotton
HYDERABAD: Suryalakshmi Cotton Mills Ltd has informed the stock exchanges that the recently held EGM, has passed the resolution to issue 14.28 lakh fully paid-up equity shares of a face value of Rs 10 each at a premium of Rs 235 on ... More

Cubex Tubings offer

OVERSEAS BORROWINGS

Glenmark raises $30 m through FCCBs
GLENMARK Pharmaceuticals Ltd has raised $30 million through the issue of Foreign Currency Convertible Bonds (FCCBs) to international investors, the company told the Bombay Stock Exchange. Meanwhile, the company's board has also taken on record ... More

ACCOUNTANCY

H.M. Choraria is new ICSI President
MR H.M. Choraria has been elected as the President of the Institute of Company Secretaries of India (ICSI) and Ms Preeti Malhotra has been elected as the Vice-President of the Institute with effect from January 19, 2006. According to an ... More

MERGERS & ACQUISITIONS

Making M&A smoother
Harmonisation of company law and income-tax law provisions should help the cause of mergers and acquisitions, says T. C. A. Ramanujam More

Some M&A gyan for Indian cos
"The big ticket items will start happening in the M&A space once more as Indian companies become larger and actually reach the $2-5 billion mark." More

Ruia group in fray to acquire MAMC
It has been decided that the group will submit a fresh proposal shortly which will be forwarded by the State Government to the Union Government More

REVL buys Reliance's 45 pc stake in REL
RELIANCE Energy Ventures Ltd (REVL) has acquired Reliance Industries Ltd's (RIL) 45.03 per cent stake in Reliance Energy Ltd (REL), a statement to the stock exchanges said. REVL acquired over 9.09 crore shares from RIL or 45.03 per cent stake ... More

Bajaj Auto to buy MSL share at Rs 151.63
BAJAJ Auto Ltd has informed the BSE that it would purchase 27 per cent holding in Maharashtra Scooters Ltd (MSL) from Western Maharashtra Development Corporation Ltd (WMDC) at Rs 151.63 per share. The acquisition would cost Rs 46.79 crore. The ... More

NEW PROJECTS

Bajaj Hindusthan to invest Rs 440 cr in expansion
BAJAJ Hindusthan on Friday announced its plans to set up a greenfield sugar plant and expand power cogeneration with a total investment of Rs 440 crore. It has also recorded a 138 per cent growth with a net profit of Rs 24.24 crore for the ... More

`India still open to Saudi participation in Vizag refinery project'
INDIA is still open to Saudi Arabia's participation in the Visakhapatanam refinery project of Hindustan Petroleum Corporation Ltd. Speaking to presspersons here, the Petroleum Minister, Mr Mani Shankar Aiyar, said India was seeking Saudi ... More

OUTLOOK

Hyundai targets 20% growth, to hike `Getz' price
HYUNDAI Motor India is targeting a 20 per cent growth in volume in the current year. The company is also planning to launch a new sedan, Verna, in 2006. According to Mr B.V.R. Subbu, President, Hyundai Motor India, the car will be positioned ... More

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