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Saturday, August 30, 2008
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REGULATORY BODIES & RULINGS: Regulators get leeway on number of independent directors
Cos Bill sets minimum limit at 33%. New Delhi, Aug. 29 Regulators such as SEBI and RBI can continue to prescribe the limit for independent director requirement of companies. ...

NEW PROJECTS: Work at Tatas’ Singur plant hits a roadblock
Company asks employees to keep away from work. Kolkata/Pune, Aug 29 Work at the Tata Motors’ small car project at Singur, about 35 km from Kolkata, came to a standstill on Fridaywith the company deciding not to send any of its ...

DIVERSIFICATION: PSL diversifying into SEZ development
Gets approval for energy SEZ in Pipavav, Gujarat. Mumbai, Aug. 29 Steel-pipe maker PSL Ltd is all set to diversify into development of Special Economic Zones (SEZ), with the company getting the stage-1 approval from the Centre to set up an ...

NEW PROJECTS: Industry captains back Tatas
Kolkata/New Delhi/Chennai, Aug 29 Industry leaders are rallying behind Tata Motors calling for an early end to the impasse at its Singur project site in West Bengal, where the company plans to produce its low-cost small car Nano. ...

NEW PRODUCTS & SERVICES: SCI to deploy new box ships in India-Europe sector
New Delhi, Aug. 29 Shipping Corporation of India has decided to deploy its new container vessels in the India-Europe sector. ...

OUTLOOK: IOC, Oil India looking for partners to bid for assets in Australia
Kolkata, Aug. 29 Indian Oil and Oil India Ltd combine is looking for partners to participate in the next bidding round for oil and gas exploratory assets in Australia. ...

NEW PROJECTS: Minda setting up plastic unit
Automotive switches and batteries maker Minda Industries Ltd (MIL) on Friday announced setting up of a manufacturing facility at Bidadi, Bangalore to produce blow moulding parts at an investment of Rs 25 crore. The facility with an annual ...

AWARDS & HONOURS: Lanco Infratech gets PRSI award
Lanco Infratech Ltd has been conferred with the PRSI Golden Jubilee award for the ‘Most impressive public relations initiatives.” The Public Relations Society of India (PRSI), which celebrated its Golden Jubilee at the Mauritius and ...

OUTLOOK: Fiat may delay launch of Linea, Grante Punto
Mumbai, Aug. 29 Fiat’s midsize sedan Linea, scheduled to be launched in September, may come in a month later, according to company sources. ...

OUTLOOK: L&T betting big on power, railway biz unit
Doubles capacity of automation system centre. Mumbai, Aug. 29 Larsen and Toubro anticipates revenues in excess of Rs 4,300 crore annually from the power segment by 2011-12 and over Rs 2,000 crore business a year in two years from its railway ...

NEW PROJECTS: NMDC setting up greenfield steel plant in Chhattisgarh
Foundation stone for project to be laid next week. Hyderabad, Aug. 29 The National Mineral Development Corporation (NMDC) plans to invest around Rs 23,000 crore in the next six years on various projects, including setting up a greenfield steel ...

OUTLOOK: John Energy investing Rs 400 cr for acquiring rigs
Rigs to be deployed in Kazakhstan, North Africa fields. Ahmedabad, Aug. 29 Hydrocarbon sector service provider John Energy Ltd will invest Rs 400 crore for acquiring seven drilling and work-on rigs for deployment in oil and gas fields of ...

MERGERS & ACQUISITIONS: Jayshree Mohta mops up 2.22% voting rights in Jay Shree Tea
Kolkata, Aug. 29 Ms Jayshree Mohta, daughter of Mr B.K. Birla and a director of Jay Shree Tea, who has been buying Jay Shree Tea shares in the last couple of months, has mopped up around 2.22 per cent of voting rights till the last disclosure ...

EVENTS: Hyundai to organise endurance drive from Delhi to Paris
To celebrate tenth anniversary of its India operations. Chennai, Aug. 29 Hyundai Motor India Ltd (HMIL) will organise a Trans-World Endurance Drive from Delhi to Paris as a part of the celebrations to mark the tenth anniversary of its India ...

NEW BUSINESS: Fabtech bags BPCL's Rs 103-cr order


NEW PROJECTS: Hour-long siege


EXPORTS & IMPORTS: US Exim Bank okays $400 m loan guarantee to Reliance Ind
New Delhi, Aug. 29 The US Export-Import Bank (Exim) has approved a $400-million loan guarantee to Reliance Industries Ltd (RIL) to import equipment and services for oil and gas exploration and production work in the Krishna-Godavari basin. ...

NEW BUSINESS: BHEL wins Rs 1,155-cr GVK order
Bharat Heavy Electricals Ltd (BHEL) on Friday said it has bagged a Rs 1,155 crore order from GVK Power for supplying and installing equipments at a power project in Punjab. "BHEL has won a Rs 1,155-crore contract from GVK Power Ltd for setting up ...

COMPANY LAW: New Bill proposes one person company concept
The new Company Bill, which proposes to do away with redundant provisions of the existing Companies Act, 1956, envisages a new entity in the form of one person company (OPC), while empowering the Government to provide a simpler compliance ...

ALLIANCES & JOINT VENTURES: Sahil Group inks pact to manage Mandara Spa
Pune, Aug. 29 The Pune-based Sahil Group has entered into an agreement with the Bangkok-based MSpa Ventures Ltd to operate and manage the Mandara Spa at its property, the Radisson Resort and Spa, Alibag. The present agreement is valid for six ...

OUTLOOK: Tata Motors rights issue details on Sept 2
Mumbai, Aug. 29 Tata Motors said on Friday that the company will announce the details of its proposed rights issue including the price on September 2. ...

SOCIETY & DEVELOPMENT: Olive Builders to offer financial aid
Olive Builders, which has completed 25 years in real estate industry in Kerala and Mumbai, has initiated steps for charity. The company has formed Olive Foundation to offer financial aid for building homes to 15 families in Kochi. The State ...






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Markets (Aug 29)
Nifty (at close)4360.00(+146.00)
US Dollar (Buy/Sell)43.75/76
Brent crude (a bbl) Rs4,900
Gold (a gram) Rs1,111
Silver (a kg) Rs20,645

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