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Saturday, February 10, 2007
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ANNOUNCEMENTS
ONGC suspends drilling campaign in Mahanadi basin
ONGC has temporarily suspended its drilling campaign in Mahanadi basin and is redeploying the deepwater drilling rig Discoverer Seven Seas (DSS) to KG basin block (KG-DWN-98/2), where the company has struck a major gas find. DSS will join ... More

Ranbaxy to make, sell depression pills in US
Ranbaxy Laboratories Ltd said it has bagged the US Food and Drug Administration approval to make and sell five strengths of Sertraline Hydrochloride tablets. In an official statement, the company said that the Office of Generic Drugs, US FDA, ... More

Apollo launches new scan method
Apollo Hospitals has performed myocardial perfusion scan with ammonia on PET-CT machine. "We have done it for the first time in India," Dr Hari Prasad, Chief Executive Officer of Apollo Hospitals (Hyderabad), claimed. "This is ... More

NEW BUSINESS
BSEL Infra to build housing towers in UAE
BSEL Infrastructure Realty (FZE) plans to build four residential towers at a cost of Rs 1,600 crore inEmirates City, UAE. Around 45 lakh sq feet of land was sold to FZE for Rs 135 crore by R Holdings, the State agency in charge of the Emirates ... More

Thales bags $60-m order
French defence electronics major Thales has bagged a $60-million order from Rudradev Aviation (P) Ltd to supply training equipment for Airbus and Boeing aircraft. Thales will provide full flight simulators (FFS) configured for ... More

COURTS/LEGAL ISSUES
Nimbus challenges sports feed Ordinance
Nimbus Communications has filed a petition in the Delhi High Court calling for a judicial review of the Sports Broadcast Signal (Mandatory Sharing with Prasar Bharati) Ordinance 2007. The Ordinance, which was promulgated by the Government last ... More

INFORMATION TECHNOLOGY
Managing IT infrastructure with business needs vital: Study
Cost, management issues concern IT heads in APAC regions More

RESTRUCTURING
De-merger a four-year-old issue, says Bajaj
Mr Rahul Bajaj, Chairman, Bajaj Auto Ltd, dismissed reports that disagreement between his sons Mr Rajiv Bajaj and Mr Sanjiv Bajaj would cause the company to split. Pointing out that the demerger was anyway being considered, Mr Bajaj said: "It's a ... More

MERGERS & ACQUISITIONS
Suzlon Energy bids for Germany's REpower
Counter offer exceeds Areva's earlier bid by 20% More

Revathi Equip buys majority stake in Bangalore co
Coimbatore-based Revathi Equipment Limited has acquired an engineering design solutions company for Rs 30 crore. In a notification to the NSE, the company said that it has acquired 40 per cent stake in the equity capital of Potential Service ... More

Ex-MD may bid for stake in Punjab Tractors
Even as the bidding process for Punjab Tractors is set to close early next week, new contenders have entered the race for acquiring majority stake in the tractor firm. According to sources, Mr Yash Mahajan, former Managing Director of Punjab ... More

Valecha Engg enters pact with Koon Holdings of Singapore
To become eligible for acquiring controlling stake More

RSWM on expansion mode
Textile company RSWM Ltd, part of the LNJ Bhilwara Group, has earmarked an investment of over Rs 400 crore to acquire companies in the domestic and international markets as part of its expansion drive. The company plans to buy ... More

Corus vs Hutch: The inevitable comparison
The Tata-Corus deal happened at approximately 7.7 times EV (enterprise value) to EBITDA (earnings before interest, tax, depreciation and amortisation) and $770 per tonne capacity. Critics point out that the number matrices suggest a higher ... More

NEW PROJECTS
Samsung keeps $100 m for Chennai facilities
Samsung India Electronics Pvt Ltd, which has laid the foundation stone for its manufacturing facility in Chennai, plans an investment of $100 million here till 2011, according to Mr H.B. Lee, Regional President and CEO, Samsung South. The ... More

Marvel Car Wash to open stations in India
Marvel Car Wash Equipment Ltd, a subsidiary of Marvel Group of US, plans to set up its fully automatic `Car Bath' facility in Hyderabad, Chennai, Bangalore and Mumbai. Announcing the launch of its first facility in Hyderabad on Thursday, the ... More

FIPB rejects Visa Minmetal's plan to undertake high sea sales
No to commodity broking proposal More

Buddhadeb urges Singur farmers to discuss issues
The West Bengal Chief Minister, Mr Buddhadeb Bhattacharjee, has asked the Director of Industries and the District Magistrate of Hooghly to discuss issues of concern with landowners in Singur who are yet to accept compensation cheques following ... More

ALLIANCES & JOINT VENTURES
Jupiter Aviation inks pact with EADS
For MRO facility, flying school, training service More

ONGC, Gazprom agree to jointly explore oil & gas fields
Ink pact to expand co-operation in hydrocarbon sector More

HPCL, Wockhardt Hospitals in pact
Wockhardt Hospitals has tied up with HPCL (Hindustan Petroleum Corporation) to launch a special campaign called `Fuel your health'. HPCL customers, who buy `Power' petrol or `Turbojet' diesel worth Rs 1,000 would be eligible for ... More

Garware Offshore, Havyard MoU
Garware Offshore Services Ltd has signed an MoU with Norway's Havyard Leirvik for marketing of ships built by Havyard to Indian shipping companies. The Havyard group, a fully integrated shipbuilding yard, has delivered more ... More

Medreich, S. African co in joint venture
Healthcare company Medreich Ltd has signed an agreement with the South Africa based Adcock Ingram Holdings to set up a joint venture in Bangalore to cater to customers in the South African market. Commenting on the venture, Mr Rajeev Mehta, CEO ... More

L&T, EADS to work together
Larsen and Toubro Limited (L&T) and European aerospace and defence group EADS on Friday took the first step towards joint exploration of business opportunities in defence and aerospace. The two companies signed a MoU to establish More

Raytheon, Tata Power tie up
Raytheon Company has signed a memorandum of intent with Tata Power's Strategic Electronics Division to seek collaboration in areas of complementary expertise and experience. This was a first step towards forging new relationships with a range of ... More

SOCIETY & DEVELOPMENT
Move to set up more WaterHealth centres
WaterHealth International Inc (WHI) and Naandi Foundation, which successfully piloted and replicated its potable water projects in several villages in Andhra Pradesh, have now announced plans to open more such WaterHealth centres across the ... More

Sadya 2007: Corporates champion a noble cause
Gavs India walked away with the Vidya Sagar trophy More

OUTLOOK
Pacific Institute biz tools for India
US-based CGN & Associates, a business performance consulting company, has tied up with The Pacific Institute (TPI) US to introduce the latter's performance enhancement techniques in India. A new entity called TPI-India will ... More

DuPont to bring fluorine intermediates to India
It has initiated talks with pharma, agro-chemical majors More

PERFORMANCE
Vizag Steel Q3 sales up at Rs 2,229 cr
Begins another round of expansion entailing Rs 2,500-cr outlay More

PEOPLE
New ICAI council member
Mr K. Raghu, a Chartered Accountant from Bangalore, has been elected to the Central Council of the Institute of Chartered Accountants of India for a three-year term starting this year. He is the first professional from Karnataka ... More






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