The Hindu Business Line : Wednesday, August 24, 2005

Tulsyan NEC takes over Coimbatore rolling mill on lease
TULSYAN NEC Ltd has taken over a steel rolling mill in Coimbatore on lease. The mill has an annual capacity of 36,000 tonnes. The deal was concluded two months ago, and the plant has just started production. The company has a billet making ... More

JK Paper to pay 20 pc dividend
JK Paper Ltd has announced an increased dividend of 20 per cent for the financial year ended June 2005, as against 15 per cent last year. The Managing Director, Mr Harsh Pati Singhania, said the company had more than doubled the profit ... More

Laila group to enter tourism sector
THE Vijayawada-based Laila group of companies is planning to diversify into the tourism sector in a big way and take up construction of resorts at several important towns and cities in and outside the State, said Mr Ravi Varma, General Manager. ... More

COURTS/LEGAL ISSUES

`Legal battle hurting Haldia Petro badly'
AGAINST the backdrop of the ongoing legal battle between West Bengal's Left Front and The Chatterjee Group (TCG) on the induction of IOC into Haldia Petrochemicals Ltd (HPL), Dr Purnendu Chatterjee agreed that the worst sufferer in this whole ... More

Allotment of shares in Haldia Petrochemicals to IOC — TCG seeks review of CLB order
A LONG-DRAWN battle seems to be taking shape between The Chatterjee Group (TCG) on one side and the West Bengal Government, Haldia Petrochemicals Ltd (HPL), and the West Bengal Industrial Development Corporation (WBIDC) on the other. Alleging ... More

MERGERS & ACQUISITIONS

$125-m termination fee looms over ONGC-Mittal's re-bid plan
WILL the high termination fee of $ 125 million come in the way of attempts by Oil and Natural Gas Corporation (ONGC) and L.N. Mittal Group combine to make a counter-offer for Canada-based PetroKazakhstan Inc? A day after losing the bid for a ... More

Patel Engg promoters offload 10% stake — Fidelity, ICICI Mutual buyers
PROMOTERS of Patel Engineering on Tuesday sold 10 per cent of the company's equity in the market. Fidelity Fund and Prudential ICICI Mutual Fund bought most of the shares sold by them. Promoters two companies - Praham Engineering Company and ... More

NEW PROJECTS

Grasim plans Rs 100-cr expansion for Bhiwani plant — To enter blended cotton market
THE textile division of the Rs 4,000-crore Grasim Industries Ltd, the flagship company of the Rs 27,000-crore Aditya Birla group, has charted out a Rs 100-crore expansion-cum-modernisation programme for its Bhiwani plant. The division, which is ... More

TNPL plans to expand wind farm capacity
TAMIL Nadu Newsprint and Papers Ltd (TNPL) is expanding its wind farm capacity, which has been a significant revenue source for the company. According to company officials, TNPL is looking at adding 5 MW of wind farm capacity. It will set up ... More

ALLIANCES & JOINT VENTURES

Bharti in $125-m deal with Nokia for rural network expansion
Nokia will deploy its low cost Connect GSM Solution for expanding network coverage in rural areas. More

Biocon, Nobex to jointly develop oral peptides for heart treatment
BIOCON Ltd and North Carolina's Nobex Corporation have announced a global research collaboration to jointly develop an oral peptide product for the treatment of cardiovascular disease. The collaboration combines the proven peptide production ... More

SOCIETY & DEVELOPMENT

Corporates willing to rebuild Mumbai
WHEN a cyclone hit Orissa in 1999, they were there. The subsequent disasters - Gujarat earthquake of 2001 or the killer tsunami of 2004 - too found them there. But when it has come to activity closer home, there seems to be an element of ... More

OUTLOOK

High crude prices derail IndianOil Petronas' plan to set up LPG terminal
THE spiralling of crude prices, leading to high refining margins, and the resultant surge in proposals to set up refineries has thrown a spanner into the works of IndianOil Petronas Pvt Ltd's (IPPL) plan to put up a Rs 250-crore LPG terminal in ... More

PERFORMANCE

Rising fuel prices work well for Reva sales
ISSUES such as VAT and lack of subsidies notwithstanding, sales of Reva cars in the country has risen by nearly 25 per cent in the last four months. "Rising fuel prices has worked well for us," said Mr Chetan Kumaar Maini, Deputy Chairman and ... More

PEOPLE

Ashok Sinha is BPCL chief
Mr Ashok Sinha has taken over as the Chairman and Managing Director of Bharat Petroleum Corporation Ltd (BPCL) from August 19; his prior position was Director (Finance) with BPCL since 1996. He is an IIT graduate with an MBA from the Indian ... More

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