The Hindu Business Line : Saturday, September 02, 2006

OVERSEAS BORROWINGS
Prithvi targets 4-5 buys of $10-20 m each
Prithvi Information Solutions, a Hyderabad-based technology company, has said that it has lined up 4-5 overseas acquisitions of $10-20 million each. The company will launch a FCCB issue worth $70 million to fund the acquisitions. Mr Satish ... More

DIVIDEND ANNOUNCEMENT
GAIL pays total dividend of Rs 484.94 cr
GAIL (India) Ltd on Friday handed over a cheque of Rs 96.98 crore to the Ministry of Petroleum and Natural Gas towards final dividend payment for the financial year ended March 31, 2006. With this payment, GAIL has contributed to the exchequer, ... More

NEW BUSINESS
Punj Lloyd bags IOC order
Punj Lloyd has bagged an order worth Rs 349.73 crore from IOC to undertake works at the naphtha cracker project in Panipat, Haryana. The order is to be executed on an EPC (engineering, procurement and construction) basis and ... More

OUTSOURCING
German co chooses ICIL as outsourcing partner
During the year ended March 31, ICIL recorded a turnover of Rs 66.84 crore, up from Rs 45.88 crore the previous year. The profit before tax stood at Rs 9.05 crore in 2005-06 against Rs 3.17 crore the previous year More

AWARDS & HONOURS
Award for ONGC Director HR
The Oil and Natural Gas Corporation Ltd (ONGC), Director (Human Resource), Mr Ashok Kumar Balyan, has been conferred the best HR-Head award by Amity International Business School. The award was conferred on Director HR in ... More

MERGERS & ACQUISITIONS
TNT Express buys Speedage
The Netherlands-based TNT Express today announced the acquisition of the Mumbai-based ARC India Ltd, which operates under the trade name Speedage Express Cargo Services, as part its strategic objective to become the leading provider of express ... More

NEW PROJECTS
BV Biologicals sets up biocontainment plant
Unit has potential to counter bioterrorism, infectious diseases More

Paradip-Haldia pipeline delayed
The commissioning of IndianOil's Rs 1,178-crore Paradip-Haldia crude pipeline inclusive of single point mooring (SPM) and storage facility at Paradip is delayed till January-February 2007. The pipeline was originally slated to be commissioned in ... More

Anand Auto plans Rs 500-cr expansion
Anand Automotive Systems, a manufacturer and supplier of automotive components, has decided to expand operations by investing around Rs 500 crore in group companies in the Haryana region over the next five years. The group has 17 companies, ... More

OVERSEAS INVESTMENTS
Expert's tips on doing business in China
Companies must do the due diligence right, or may get tricked More

Strides to acquire Singapore generics co
To spearhead plans to enter Chinese, Asia-Pacific markets More

TRADE & LABOUR UNIONS
Deora urges oil PSU officers to drop strike plan
The Petroleum Minister, Mr Murli Deora, has appealed to the public sector oil companies' officers to call off their proposed indefinite strike from September 5. Speaking at a function to celebrate the 43rd Indian Oil Corporation Day, the ... More

ALLIANCES & JOINT VENTURES
HAL, EADS sign pact
To explore potential win-win partnerships More

Arvind Brands forms JV with VF Corporation
To market, distribute the US - based company's branded products More

Petronet, Adani to set up cargo port at Dahej
Petronet LNG Ltd (PLL) on Friday signed a joint venture agreement with the Adani Group for setting up a solid cargo port at the Dahej SEZ. The joint venture has already been incorporated as Adani Petronet (Dahej) Pvt Ltd, in which the initial ... More

IOC to rope in foreign partners for exploration under NELP-VI
Eyeing majority stake in shallow water, on-land blocks More

SAIL open to joint ventures abroad
`Iron ore should be conserved, exports should be phased out' More

OUTLOOK
Ministry yet to consider RIL's request on export of surplus LPG
Asks RIL, oil marketing cos to work out optimisation plan More

Ford study for indigenisation of diesel engines
Plan to increase the local content to 90% More

DCW plans Rs 525-cr capex
DCW Ltd is planning to make a capital investment of Rs 525 crore including a foreign currency convertible bond issue of Rs 150 crore. The remaining expenditure will be met by internal accruals and term loans from a consortium of banks led by the ... More

Michelin plans to enter two-wheeler tyre market
Keen on tapping motorcycle segment More

PERFORMANCE
Scorpio posts record sales
Ever since Mahindras introduced the all-new Scorpio, sales have shown a steep climb. In August, the company recorded its highest ever sales of 3,482 units for the flagship model in the domestic market. While domestic sales ... More

Maruti sales up 16 % in Aug
Car market leader Maruti Udyog Ltd on Friday announced that it has posted a 15.68 per cent increase in domestic sales at 48,259 vehicles in August as against 41,717 vehicles sold in the same month last year. The company said ... More

Bajaj bike sales up 21 pc in Aug
Bajaj Auto Ltd, manufacturer of two and three-wheelers, has registered a 21 per cent increase in sales of motorcycles during August. The company has recorded sales of 1,80,570 motorcycles compared with 1,49,415 for the ... More

Hero Honda sales down
Hero Honda Motors has witnessed a second consecutive month of drop in sales, with numbers, exports included, dipping by 12.6 per cent in August to 2,15,076 units against 2,46,304 units in the same month last year. Exports, ... More

TVS Motor sales rise 39 pc
TVS Motor Company sold 83,014 motorcycles in August 2006, 39 per cent more than 59,675 units in the same period last year. Total two-wheeler sales in August stood at 1,35,533 units compared to 1,03,063 units, during the same ... More

Ford India sales up 88 pc
Ford India sold 2,699 cars in August, 88 per cent more than in the corresponding period last year. In the January-August period, the company sold 29,470 cars, 93 per cent more than in the corresponding period last year, says a ... More

PEOPLE
Matrix promoter may turn angel investor
Evaluating various options of investment: N. Prasad More