The Hindu Business Line : Friday, October 16, 2009

CORPORATE

PEOPLE: Mukesh Ambani takes a pay cut
Mumbai, Oct. 15 As the Government debates the high salaries of corporate chiefs, Mr Mukesh Ambani, Chairman of Reliance Industries Ltd, has taken a 66 per cent cut in his annual ...

OUTLOOK: Govt allows Coal India to hike prices by 11%
Move will help perennially sick subsidiaries most. Kolkata, Oct. 15 The Union Government today allowed Coal India to hike prices by 11 per cent on an average with effect from October 16. The price rise comes after nearly two ...

CORPORATE DISPUTES: Govt beefs up legal team for RIL-RNRL gas row
Just a few days before the Supreme Court takes up the Ambani brothers gas dispute for final hearing, the Government has decided to strengthen its legal ...

OUTLOOK: Dunlop may reopen Ambattur unit next week
Sahagunj factory still awaits power supply from West Bengal utility. Kolkata, Oct. 15 Dunlop India plans to resume production at the Ambattur factory in Chennai next week. The fate of the Sahagunj facility, however, is still uncertain as the ...

ALLIANCES & JOINT VENTURES: Vadodara Municipal Corporation, GAIL join hands for gas supply
Ahmedabad, Oct. 15 In the first-ever joint venture between an elected civic body and GAIL (India) Ltd, the country’s largest gas transmitter and Vadodara Municipal Corporation (VMC) have signed an MoU to distribute piped natural gas ...

OVERSEAS BORROWINGS: Hindalco to raise Rs 2,900 cr
The board of directors of Hindalco will meet on November 17 to consider a proposal to raise Rs 500 crore more than the earlier proposal of Rs 2,400 crore. “The board has approved raising long-term finance by way of qualified ...

CREDIT RATING: `Credit worthiness improving'
...

PERFORMANCE: Fiat India exports 25,000 engines thanks to scrappage scheme
Mumbai, Oct. 15 The scrappage incentive scheme initiated by European countries to replace old cars with more fuel-efficient counterparts has been the best piece of news not only to the likes of Hyundai and Maruti but also Fiat India, though ...

MERGERS & ACQUISITIONS: Stable revenue is big plus for acquirers
BL Research Bureau The trend of global financial majors selling their captive BPO/IT divisions continues, with the sale of UBS Service Centre (India) to Cognizant Technology Solutions. Importantly, all of these deals have come with ...

NEW PROJECTS: Nuclear Fuel Complex plans Rs 1,000-cr greenfield facility
Hyderabad, Oct. 15 Nuclear Fuel Complex (NFC), the lone supplier of indigenous fuel to power the Department of Atomic Energy’s (DAE) ambitious nuclear power programme, is setting up a Rs 950-1,000 crore greenfield fuel fabrication ...

MERGERS & ACQUISITIONS: Trivitron looking to buy cos in Pune
New Delhi, Oct. 15 Chennai-based medical equipment manufacturer Trivitron Group is in talks with Pune-based generic device makers for a ...

AUDITING: Will pay legitimate dues: RCom
Countering allegations regarding discrepancies in the books of Reliance Communications, Mr Anil Ambani has said that the company is willing to make payment of licence fee to the Department of Telecommunications “if there are any ...

NEW PROJECTS: Sterlite to invest Rs 2,300 cr in Tuticorin
Mumbai, Oct. 15 Sterlite Industries, a subsidiary of LSE (London Stock Exchange) listed Vedanta Resources plc, plans to invest Rs 2,300 crore in a 400 kilo tonnes per annum (ktpa) brownfield copper smelter expansion project at Tuticorin in ...

OUTLOOK: Falcon Tyres plans to raise Rs 100 cr thru PE route
Kolkata. Oct. 15 The Ruia Group-controlled Falcon Tyres plans to raise approximately Rs 100 crore in the current quarter through the private equity (PE) route and has initiated negotiations with a number of ...

CORPORATE DISPUTES: BPCL, Kingfisher move to end jet fuel dues row amicably
Bharat Petroleum Corporation Ltd and Kingfisher Airlines are likely to go in for an out-of-court settlement of their ...

NEW PROJECTS: LMJ jewellery export unit
Export house LMJ International Ltd launched on Thursday its gem and jewellery manufacturing and export unit at Manikanchan SEZ at Salt Lake here, according to a company release. The Rs 2,000-crore LMJ Group, primarily engaged in exports ...