OVERSEAS BORROWINGS
Reliance concludes $250-m term loan syndication
RELIANCE Industries Ltd has concluded a loan syndication of $250 million (Rs 1,125 crore). The transaction is the first major syndication since Moody's upgraded India's ratings to Investment grade. The lead arrangers for the syndication were ... More

M&M to raise $100 m
MAHINDRA & Mahindra Ltd (M&M) has informed the BSE that its board has approved the raising of additional long-term resources up to $ 100 million. This will be through the issue of foreign currency convertible bonds and / or other appropriate More

COURTS/LEGAL ISSUES
SAIL, Essar move High Court for probe into steel dumping
THE Government-owned Steel Authority of India Ltd (SAIL) and the private sector Essar Steel have moved the Delhi High Court seeking its directive to the Directorate of Anti-Dumping (DoAD) under the Department of Commerce for initiating ... More

IPR
Bayer sues Dr Reddy's for patent infringement
THE global pharmaceutical giant Bayer has sued Dr Reddy's Laboratories Ltd alleging patent infringement by the latter on two of the three Orange Book patents held by it. Bayer has filed a lawsuit against Dr Reddy's in the US district court for ... More

HUMAN RESOURCES
Strides programme to hone staff skills
EMPLOYEES of the city-based pharma major Strides Arcolab can now get an MS degree through distance learning from one of the country's best-known higher education centres. Strides said it has entered into a memorandum of understanding with ... More

CORPORATE BONDS
Guj Ambuja's CCB converted to equity shares
THE foreign currency convertible bond issue of the $99.3 million, made by Gujarat Ambuja in January 2001, has been converted into equity shares/GDRs following the company exercising its call option. The bonds, bearing coupon rate of 1 per cent, ... More

RESTRUCTURING
EID Parry to sell 3 units to group co
EID Parry has informed stock exchanges of the decision to sell three of its divisions to another group company, Parry Engineering & Exports Ltd. The three are the Netlon division, which manufactures polymer meshes (mosquito nets), the marketing . More

MERGERS & ACQUISITIONS
Daewoo Commercial acquisition part of global strategy: Ratan Tata
TATA Motors hopes to leverage the Daewoo Commercial Vehicle Company Ltd (DWCV) acquisition for its global plans in commercial vehicles. Answering a question at the press conference that followed the share handover ceremony, the Chairman, Mr ... More

Tata Motors vows to turn Daewoo unit profitable
TATA Motors today took an important step towards becoming a global automobile company when it formally acquired control over the $250-million (Rs 1,100 crore) Daewoo Commercial Vehicle Company Ltd (DWCV), South Korea. The shares in DWCV ... More

Groupe Chimique buys 5 pc stake in GFCL
GROUPE Chimique Tunisien has informed the stock exchanges that they have acquired 16-lakh equity shares constituting 5 per cent of the equity capital of Godavari Fertilisers and Chemicals Ltd (GFCL) from Coromandel Fertilisers Ltd (CFL). The ... More

Matrix Labs to merge 4 cos with itself
MATRIX Laboratories Ltd (MLL) has decided to merge four companies with itself in its efforts at geographical de-risking of its manufacturing facilities and enhanced transparency and corporate governance practices. The companies are the Rs ... More

ACC picks up UTI's stake to become 100% owner of Bargarh
ASSOCIATED Cement Companies (ACC) has purchased 13.21 per cent stake in Bargarh Cement Ltd from Unit Trust of India. ACC bought 3.5 crore shares of the nominal value of Rs 10 each in the company, for a consideration of Rs 26.85 crore, said a ... More

ABL Bio to buy partner's stake in Shantha Marine
THE Chennai-based ABL Biotechnologies Ltd will acquire the entire stake in Shantha Marine Biotechnologies Pvt Ltd, a joint venture it promoted with Shantha Biotechnics Pvt Ltd of Hyderabad. Mr K.O. Isaac, Managing Director, ABL Biotechnologies, ... More

Sundram Fasteners buys stake in Upasana Engg
SUNDRAM Fasteners Ltd has informed the BSE that it has acquired 49.87 per cent of the equity share capital of Upasana Engineering, a company that manufactures spokes and nipples for two-wheelers. The acquisition was made through Aplomb ... More

Shri Shri Resorts acquires 19.11 pc in Vivo Bio Tech
SHRI Shri Resorts Pvt. Ltd, the city-based real estate and resorts company, has acquired 6,70,000 equity shares of Vivo Bio Tech Ltd, formerly known as Sunshine Factors & Exports Ltd. These shares, accounting for 19.11 per cent equity of Vivo ... More

ICICI Ventures takes 54 pc in Arvind Brands
ICICI Emerging Sectors Fund, a private equity fund managed by ICICI Ventures, on Monday announced that it was acquiring a 54 per cent equity stake in Arvind Brands Ltd, a wholly-owned apparel subsidiary of Arvind Mills Ltd. As a result, Arvind ... More

NEW PROJECTS
Solae plans to set up production unit in India — Launches soy products in tie up with Speedway
THE Solae Company, a joint venture between DuPont and Bunge, today said it will manufacture textured soy proteins and soy protein specialty products in India and will shortly apply to the Foreign Investment Promotion Board (FIPB) for approval for ... More

ALLIANCES & JOINT VENTURES
Lupin inks pact with Allergan to market kids' drugs
THE paediatric segment will be the focus for the Mumbai-based Lupin Ltd as it intensifies its efforts in the branded generic drugs segment in the US. Announcing its second tie-up in the paediatric segment in a little more than a month, Lupin on ... More

INTERVIEW
Tata Power willing to put in Rs 10,000 cr in distribution, generation
IN his first interaction with the press more than a year ago, Mr Firdose Vandrevala, then Deputy Managing Director of Tata Power, said little. He was a `Steel' man, he said, referring to his long stint at Tata Steel. Instead, he preferred ... More

RIGHTS ISSUE
Balrampur Chini rights issue likely in early May
BALRAMPUR Chini Mills' proposed Rs 59.19-crore rights issue is likely to hit the market some time in the beginning of May. According to sources in the company, Balrampur Chini has already filed the application with the Securities and Exchange ... More

OUTLOOK
LG India targets Rs 7,000-cr sales this fiscal
AFTER consolidating its position in the domestic market, the Korean white goods major LG Electronics India Pvt Ltd (LGEIL) is eyeing exports worth $70 million this fiscal, up from $40 million that it clocked in 2003. Commenting on whether the ... More

PERFORMANCE