Business Daily from THE HINDU group of publications
Tuesday, July 11, 2006
Markets (July 10)
BSE Sensex10684.30(+174.77)
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OVERSEAS BORROWINGS
Prajay Engineers allots shares
Prajay Engineers Syndicate Ltd has informed the stock exchanges that its allotment committee of board of directors, at its meeting on July 5, has allotted 2,19,437 equity shares and 5,76,909 equity shares of Rs 10 each, fully ... More

NEW BUSINESS
BHEL bags Tata Power contract
Bharat Heavy Electricals Ltd (BHEL) has bagged an order from Tata Power Company to set up a 250-MW thermal power plant in Maharashtra. Under the contract, BHEL would design, manufacture, supply, test and commission the thermal ... More

DS Const bags NHAI project
DS Constructions Ltd today announced that it has bagged a project that includes four-laning of the Gwalior-Jhansi section on NH-75 by the NHAI on Build-Operate-Transfer (annuity) basis. The 80.127-km long project will be constructed at a cost ... More

OUTSOURCING
Kohl's to step up sourcing from Celebrity Fashions
Celebrity's new shirt-making facility opened near Chennai More

RESTRUCTURING
Transfer of Royal Enfield unit: Eicher gets board nod
Commercial vehicle manufacturer, Eicher Motors Ltd on Monday said it would transfer its Royal Enfield business unit to a new subsidiary company proposed to be set up in the National Capital Region. At the meeting held today, the board approved ... More

VBC to consider revamp, merger
VBC Industries Ltd has informed the stock exchanges that a meeting of its board of directors would be held on July 18, to consider and explore the possibilities of restructuring the company. The possibilities include merger ... More

MERGERS & ACQUISITIONS
Stokvis Tapes acquires Prostick Adhesives
To invest $2.5 m in facilities More

Ranbaxy set to acquire equity stake in Zenotech
Zenotech board to meet on July 17 More

NEW PROJECTS
AITUC to back Vizag steel plant capacity expansion
The All-India Trade Union Congress (AITUC) has pledged its support to the capacity expansion project of the Visakhapatnam Steel Plant and promised to strive for securing captive iron ore mines for the plant. The promise was made by Mr Gurdas ... More

Suryalakshmi expansion project takes off
Suryalakshmi Cotton Mills Ltd has informed the stock exchanges that the production was commenced at the expansion projects of its spinning division at Amanagallu and also in the garment unit of its subsidiary company - Suryakiran International ... More

OVERSEAS INVESTMENTS
Tata group may suspend projects in Bangladesh
The Tata Group is committed to its $3-billion project proposals in Bangladesh but it might consider suspending them if it faces further delay in getting the necessary official clearances. According to a press release issued by the Tata Group, ... More

Indo Asian enters Sri Lankan market
Indo Asian Fusegear Ltd, an electrical switchgear and lighting equipment manufacturer, has launched its products in Sri Lanka following a joint venture with the Nawaloka Group. The Sri Lankan group has formed a new firm, Meyra ... More

ALLIANCES & JOINT VENTURES
Reliance's FLAG Telecom bags China Netcom deal
China Netcom, a fixed line telephone operator in Northern China, has selected FLAG Telecom, a subsidiary of Reliance Communications, as the preferred international carrier to provide trans-pacific bandwidth for its fast-growing broadband ... More

Samtel, HAL to form joint venture co
For developing, manufacturing avionics display systems More

SpiceJet, Galileo sign pact to offer low fares
SpiceJet and Galileo International on Monday announced the signing of an exclusive agreement to provide SpiceJet's low fares and inventory on the Galileo GDS platform. According to a statement issued by the company, content for SpiceJet will ... More

SOCIETY & DEVELOPMENT
Toyota Kirloskar launches rural water project
Ramanagaram is beneficiary town More

VENTURE CAPITAL
Blackstone invests $50 m in Emcure
Global private investment and advisory firm, The Blackstone Group, is set to invest $50 million in the Pune-based pharma company Emcure. No details were available. The transaction represents Blackstone's first investment in ... More

DIVERSIFICATION
Seabuckthorn Indage plans home, personal care foray
Confectionery, specialty cosmetics also on cards More

M&M Fin plans to vend insurance, MF products
Plans foray into rural housing sector More

STANDARDS & BENCHMARKS
Opto Circuits arm gets European Mark approval
Opto Circuits (India) Ltd's wholly-owned subsidiary, EuroCor in Germany, has received CE (Communité European) Mark approval for marketing its new polymer-free Paclitaxel-eluting coronary stent system called Taxcor-I. This product, which is ... More

SICK UNITS
Keltron reiterates demand for OTS
Executives upbeat on firm's prospects More

OUTLOOK
ONGC starts negotiations with Exxon Mobil consortium
To import LNG from Sakhalin fields More

ONGC expects marginal rise in onshore crude output
ONGC is expecting a marginal increase in on-shore crude oil production, from 8.1 million tonnes in 2005-06 to 8.33 million tonnes in 2006-07. On shore natural gas production is expected to remain same at 5.5 billion cubic metres. As part of ... More

Radio City targets 30% share in 2 years
Radio City is targeting a market share of 30 per cent of the FM radio market, which is estimated to be Rs 600 crore in the next two years, according to Ms Apurva Purohit, CEO, Radio City. She said that currently the FM radio market is about Rs ... More

JB Chem intensifies focus on 3 segments
The Mumbai-based drug company JB Chemicals and Pharmaceuticals Ltd has intensified its focus on cardiology, orthopaedics and gastroenterology, to improve the "prescription strike-rate" of medicines in these segments. It has shored-up its ... More

Fiat plans 1.1 litre, CNG variants of Palio
To take advantage of tax sops offered by Govt More






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Top Stories
New audit norms for central excise, service tax assessees

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Samtel, HAL to form joint venture co

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Looking back
Jul. 2-Jul. 8
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