The Hindu Business Line : Thursday, June 01, 2006

PSL lowest bidder for Dabhol-Panvel pipeline
PSL Ltd has announced that it has emerged as the lowest bidders in GAIL's fast track project - Dabhol-Panvel pipeline. The approximate value of the pipeline tender is Rs 218 crore. The company would provide GAIL with a 30-inch diameter ... More

OVERSEAS BORROWINGS
Kanoria Chem raises $20 m through FCCBs
Kanoria Chemicals and Industries Ltd has informed the Bombay Stock Exchange that it has raised $20 million through zero coupon Foreign Currency Convertible Bonds (FCCBs). The bonds will be convertible into equity shares at a conversion price ... More

KfW extends € 54 m credit to IL&FS
The German bilateral KfW has extended a € 54 million Line of Credit facility to IL&FS, guaranteed by the Government, with a specific mandate to finance private sector infrastructure projects. The KfW Loan is a three-tier .. More

MERGERS & ACQUISITIONS
Hitech Plast acquires 60 pc stake in Mipak
Hitech Plast Ltd, rigid plastics manufacturing company, announced that it has acquired 60 per cent stake in Mipak Group for Rs 5.73 crore. This acquisition is expected to enable Hitech Plast Limited expand into related areas of activities in ... More

NEW PROJECTS
Pentair plans R&D unit in India
Pentair Water India (PWI) plans to have a research and development centre in India for the US based parent Pentair Group. "We plan to have 150 engineers at our research and development centre in Noida by the year end," said Mr ... More

REGULATORY BODIES & RULINGS
e-filing of documents with RoC to become must for cos from July 1 under MCA-21
Filing of mandatory documents like balance sheet and annual returns by corporates, as stipulated under Companies Act 1956, will in future be fully in the electronic format. Making a presentation on the on-going "MCA-21" e-governance programme ... More

USFDA okays Aurobindo facility
Aurobindo Pharma Ltd has announced that the United States Food and Drug Administration (USFDA) has successfully inspected and rated its unit-XI, one of its active pharmaceutical ingredients (API) manufacturing facilities, as `acceptable', ... More

SOCIETY & DEVELOPMENT
Microsoft grant for Hyderabad NGO
Under its Project Jyoti programme, Microsoft Corporation India announced on Wednesday a grant of approximately Rs 2.2 crore to CAP (Child and Police project), a Hyderabad-based NGO, to provide IT skills training to victims of ... More

BONUS ANNOUNCEMENTS
Dr Reddy's Q4 net loss at Rs 23 cr
Announces 1:1 bonus, 100 pc dividend More

EIH net profit up at Rs 188 cr, proposes 1:2 bonus
Aided by extraordinary income of more than Rs 100 crore from the sale of land, EIH Ltd, a member of the Oberoi Group has reported a net profit of Rs 188.80 crore for the financial year 2005-06 up from Rs 33.12 crore recorded during the previous ... More

OUTLOOK
Dr Reddy's bullish on growth prospects
Plans $100-m capital expenditure programme More

L&T to focus on upstream oil, gas activity
With a net gearing of only 0.1, Larsen & Toubro has enormous flexibility on the funds front as and when opportunities come up for both organic and inorganic growth. One of the company's focus area is upstream oil and gas activity, which it ... More

GE chief meets Lalu, top PMO officials
Spells out co's efforts to gather support for Indo-US nuclear deal More