The Hindu Business Line : Saturday, March 04, 2006

Hind Latex pays 20 pc interim
Hindustan Latex has paid an interim dividend of 20 per cent to the Centre for 2005-06. The Chairman and Managing Director, Mr M. Ayyappan, handed over a cheque for Rs 23.25 crore to the Union Minister for Health and Family ... More

IMAGE BRUSH-UP
CGH Earth group opens up new vistas for artists
From the tranquil backwaters of Kerala to the architecturally rich city of Swabish Hall in Germany and beyond, the CGH Earth group of hotels has opened up a global canvas for artists and painters from India. "The move to open up national and ... More

Clarification
With reference to the news item "J.K. Cement may set up standalone grinding unit" that appeared in these columns on February 21, Travancore Cements Ltd writes to say that it too produces white cement in addition to the two players mentioned in ... More

OVERSEAS BORROWINGS

RBI clarifies on ECB
The Reserve Bank of India (RBI) has clarified that companies in the airport sector as well as those engaged in telecom manufacturing activities are eligible for external commercial borrowing (ECB) in accordance with the existing ... More

Ruchi Soya raises $60 m thru GDR
Ruchi Soya Industries Ltd has informed the BSE that it has raised $60 million through a GDR issue consisting of 8.87 million GDRs. Each GDR represents one underlying share in the Company and is priced at $6.7613/- equivalent ... More

MERGERS & ACQUISITIONS

Jet gets Ministry nod for buying Air Sahara
Jet Airways has moved a step closer towards bringing Air Sahara under its fold. The Ministry of Company Affairs has given its nod to the deal. According to senior officials of the Ministry, the deal has got the nod under the Companies Act, 1956. ... More

AstraZeneca buys Eli Lilly's Vancocin brand
AstraZeneca announced it has acquired Eli Lilly's anti-infective brand - Vancocin CP - for India and Nepal markets. The deal amount was not disclosed. Vancocin CP or Vancomycin is widely used in treating resistant bugs in the ICUs. The ... More

Matherson buys stake in Herbertsons
Matherson Advisory Singapore Pvt Ltd, a registered FII, has bought 8.29 lakh shares (8.71 per cent) of Herbertsons Ltd from McDowell & Co Ltd and Phipson Distillery at Rs 263.35 per share through a block deal executed on Tuesday. The total ... More

NEW PROJECTS

Paragon expands operations
Paragon Biomedical, a US-based clinical research organisation that manages international phase I-IV clinical trials, has expanded its home base at Technopark here and enhanced data management and statistical service capabilities. ... More

Actavis plans API research facility in Bangalore
Actavis which started its presence in the country a year ago has declared that India figures prominently in its plans. More

OVERSEAS INVESTMENTS

Delay proves costly for ONGC in Nigeria
ONGC Videsh is now being offered a much lower stake More

Mahindra tractor unit in US
Automotive major Mahindra & Mahindra has decided to set up a third tractor assembly unit in the US. According to Mr Anand Mahindra, Vice-Chairman and Managing Director, M&M, the new unit will be operational in the next 18 mon More

ALLIANCES & JOINT VENTURES

Lupin in pact with US co
Lupin Ltd has entered into an agreement with Chester Valley Pharmaceuticals in the US to promote Atopiclair non-steroidal cream to paediatricians. The agreement was formalised through its wholly owned subsidiary, Lupin ... More

IPOS

Gallant Metal to go public
Gallant Metal Ltd (GML) will hit the primary market with an issue of 371.20 lakh equity shares with a face value of Rs 10 for cash at par aggregating Rs 37.12 crore. This is to part finance its Rs 190.82 crore vertically ... More

Technocraft Ind plans Rs 80-cr IPO
Mumbai-based Technocraft Industries (India) Ltd has plans to enter the capital market with an IPO of Rs 80 crore by April 2006. The funds would be utilised for its expansion plans of Rs 125 crore. The company has diverse ... More

OUTLOOK

Reliance Energy, NTPC in talks with NPCIL for nuclear foray
Capacity of 20,000-40,000 MW expected in 10 years following Indo-US deal More

ONGC looks at fresh investment in South
Plans to set up new condensate plant More

NRL set to begin diesel exports to Bangladesh
Numaligarh Refinery Ltd (NRL) is set to begin exporting around 1,20,000 tonnes of high-speed diesel (HSD) to Bangladesh Petroleum Corporation from April. The company is also exploring export opportunities in Myanmar. Given the topographical ... More

Tatas may look at US market for hotels, automobiles in future
Interested in N-power if Govt permits More

Elgi willing to consider equity partner to scale up business
Not to go in for tech partnership More

Change in Hilton UK's business profile not to affect EIH
Contractual relationship will shift to Hilton Corporation More

Mumbai High restoration by June
ONGC expects to restore 2.7-lakh barrels per day (bpd) of crude oil output from Mumbai High fields by June. Mr Subir Raha, Chairman and Managing Director, said, "We expect to restore the output to the level before the July fire, which ... More

ONGC may not sell IOC stake
ONGC on Friday said it plans to sell its stake in GAIL (India) Ltd but will hold on to its stake in Indian Oil Corporation Ltd. Speaking to newspersons, Mr Subir Raha, Chairman and Managing Director of ONGC said, "We don't have ... More

PEOPLE

New ED for HPCL Visakha refinery
Mr A.S. Rao, General Manager in-charge of HPCL's Visakha refinery, has been promoted as Executive Director. A chemical engineering graduate from Andhra University and a post-graduate from IIT-Kharagpur, ... More

7 partners join law firm
Law firm Amarchand & Mangaldas & Suresh A. Shroff & Company — "Amarchand Mangaldas" has announced the induction of seven new partners in the firm. Joining the firm in Delhi are Mr Piyush Joshi and Mr Dev Robinson a More

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