CORPORATE
ANNOUNCEMENTS
Volvo shifting Europe truck work to India
To set up bus manufacturing plant near Bangalore
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Essar Oilfields buys rig for $220 m
Essar Oilfields Services Ltd (EOSL), a subsidiary of Essar Shipping & Logistics, Cyprus, said that it had taken delivery of a semi-submersible rig. This acquisition cost the company $220 million, said a statement from the company. The buy is in .
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Royal Enfield to hike Bullet prices
Royal Enfield has decided to hike the prices of its range of two wheelers by Rs 2,200 from 2007, according to an official press release. The price hike effective from January 1, 2007, follows the continuous increase in cost of ...
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OVERSEAS BORROWINGS
Maharashtra Seamless allots FCCB conversion
Maharashtra Seamless Ltd has allotted 8,59,220 equity shares of Rs 5 each of the company at a premium of Rs 248.34 per share upon exercise of option of conversion for 5,000 number of zero coupon Foreign Currency Convertible Bonds (FCCB)s of $ ...
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SREI Infra to raise Rs 675 cr thru ECBs
To fund domestic, overseas operations
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Gayatri Projects to hike capital
Gayatri Projects Ltd plans to increase the authorised capital of the company from the existing Rs 12 crore to Rs 15 crore. The company has decided to issue Foreign Currency Convertible Bonds /other securities to be subscribed in ...
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United Spirits pre-pays $200 m
Loan taken to fund Shaw Wallace acquisition
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DIVIDEND ANNOUNCEMENT
Kerala Power Finance pays 20% dividend
The Kerala Power Finance Corporation (KPFC) has paid 20 per cent dividend to the State Government and Kerala State Electricity Board (KSEB), joint promoters of the company. KPFC recorded an income of Rs 98.94 crore and a net profit of Rs 1.98 ...
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NEW BUSINESS
BHEL bags Rs 165-cr order from IOC
BHEL today said that it has bagged a Rs 165-crore order from IOC for setting up a power plant at the oil major's Haldia refinery in West Bengal. "IOC has placed an order worth over Rs 165 crore for a gas-based co-generation power plant," a BHEL ...
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AWARDS & HONOURS
Award for Noida-based biz woman
Ms Amila Singhvi, Managing Director, International Print-o-Pac Ltd (IPP), has been awarded the `Outstanding Business Woman Of The Year-2006' by PHD Chamber of Commerce of India. The Noida-based IPP is a Rs 350-crore print and packaging ...
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COURTS/LEGAL ISSUES
Priyamvada will: High Court rejects caveatable interest of Birlas
A Division Bench of the Calcutta High Court comprising Mr Justice P.C. Ghose and Mr Justice P.K. Dutt today upheld the order of the Single Judge (in March 2005) who rejected the caveatable interest of Mr K.K. Birla, Mr B.K. Birla and Mr ...
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Ministry's clearance for garnet sand mining legal: Madras HC
The Madras High Court has held that when a firm has been engaged in garnet sand mining in Tirunelveli district for the past two decades after obtaining requisite permission from both Central and Tamil Nadu Governments, it was not open to any ...
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MANAGEMENT
Creating the `next practices'
What has India's growth been in the manufacturing sector from 1995 to 2006, asked the management guru, Prof C. K. Prahalad, at the recent Manufacturing Summit 2006. None came up with an answer. Prof Prahalad ...
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CII keen to become CAM-I member
Membership will give cos access to global research
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MERGERS & ACQUISITIONS
BHPV may be merged with BHEL
The ailing Bharat Heavy Plate and Vessels Ltd here is to be merged with Bharat Heavy Electricals Ltd (BHEL) and the Union Government has taken a decision to that effect, according to a note issued by Mr N. Janardhana Reddy, member of the Lok ...
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Four points to watch in the Corus race
All is not lull in the Corus tussle, because both the players in the race, viz. Tata Steel of India and CSN (Cia Siderurgica Nacional) of Brazil, are busy guessing the cards on the other side. According to informed sources outside India, what can ...
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ABB to acquire Raman Boards
ABB has agreed to acquire the Mysore-based Raman Boards Ltd (RBL) to strengthen its insulation products' business. In a statement on Thursday, ABB said that the acquisition will complement its global insulation components' capacity, which ...
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CORPORATE GOVERNANCE
For South Asian financial integration via the stock market
Corporate governance has become a mandatory condition for listed companies. Hence the regulators will have to introduce uniform governance code, besides similar credit rating standards.
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NEW PROJECTS
Escorts talking to PE firms to raise funds
Escorts Ltd is currently in talks with a clutch of private equity firms to raise money to fund expansion of its construction equipment unit. The company plans to set up two new facilities for construction equipment, one of which will be in ...
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Orissa Govt signs pact with Mittal Steel for 12-mt plant
The Orissa Government on Thursday signed a memorandum of understanding with Mittal Steel Company N.V., an Arcelor Mittal company, for the setting up of a 12-million-tonne per annum capacity mega steel plant in the mineral-rich Keonjhar district ...
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Singur land: Let's discuss, Bengal Govt tells Mamata
Trinamool says CM's letter `meaningless and without substance'
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REGULATORY BODIES & RULINGS
3 cos get nod to market `Simvastatin'
Ranbaxy Laboratories Ltd, Zydus Cadilla and Aurobindo Pharma have received the approval of the US Food and Drug Administration (USFDA) to market cholesterol lowering drug, Simvastatin, the generic version of Merck's `Zocor'. Ranbaxy has got ...
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Aurobindo gets USFDA nod
Aurobindo Pharma Ltd (APL) has informed the BSE that the company has received the final approval for Simvastatin tablets in the dosages 5,10,20,40 and 80 mg from the US Food and Drug Administration (USFDA). In another release ...
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INTERVIEW
Lanco Infratech to partner DongFeng for Sasan project
Co management in Bangkok session to chart out its way forward
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RIGHTS ISSUE
SEBI bars Gammon India from trading
Market regulator finds irregularities in 2001 rights issue
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STANDARDS & BENCHMARKS
Mangalore cashew co gets ISO 22000 certification
For food safety management system
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SICK UNITS
CCEA okays revival package for Bengal Chemicals
The Cabinet Committee on Economic Affairs (CCEA) on Thursday approved a revival package for Bengal Chemicals and Pharmaceuticals Ltd (BCPL) at a total cost of Rs 207,19 crore. The package consists of equity of Rs 55 crore, interest-free loan ...
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OUTLOOK
Space Hospitals to widen services in TN
Space Hospitals Ltd, a Chennai-based telemedicine service provider, plans to add 126 telemedicine centres, 38 satellite medical centres and 9 regional associate hospitals in Tamil Nadu by the end of March 2007. Mr A. Sivakumaran, Chief ...
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Captive mine to meet Usha Martin requirement
The company had also finalised plans to develop a captive coalmine.
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Isogen to expand Ocimum presence in Europe, US
Isogen Life Sciences, a Netherlands-based company, will expand the market space in the oligonucleotides (biomolecular markers), widely used in biotechnology, for Ocimum Biosolutions in Europe and the US. Isogen Managing Director Mr Hans ...
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