The Hindu Business Line : Saturday, December 03, 2005

Reliance cuts petro-chem prices
MUMBAI: Reliance Industries Ltd on Friday announced a reduction in prices for its petrochemical products. The cut in prices for December isfor all three segments - polyesters, polymers and fibre intermediates. The maximum impact was ... More

Toyota offers 1% interest on loans for Innova buyers
TOYOTA Kirloskar has come out with a finance option that offers 1 per cent interest rate on loans for its Innova customers for a limited period of one month. Earlier, one of its dealers had come out with a free petrol offer for all Innova ... More

L&T bags order for Hyderabad airport terminal building
AFTER bagging Rs 495-crore worth orders from HIAL (Hyderabad International Airport Ltd) in August, Larsen & Toubro Ltd (L&T) has won yet another order worth Rs 263 crore for the construction of the passenger terminal building at the upcoming More

`Ranbaxy geared up to manufacture bird flu drug'
RANBAXY Laboratories Ltd said that it is well-prepared to produce oseltamivir phosphate capsules (generic version of Tamiflu) used for treating bird flu if either the US Government or the innovator, Roche, asks them to do so. In a statement, Dr ... More

SREI Infrastructure launches two financial products
SREI Infrastructure Finance Ltd on Friday launched two new financial products - `Moneybag' and `Srei Lotto' - at Excon 2005, the third construction equipment and construction technology trade fair, in Bangalore. Talking to Business ... More

Telcon to invest Rs 200 cr for capacity expansion
TELCO Construction Equipment Company Ltd (Telcon) plans to invest Rs 200 crore in the next two years to ramp up capacity at its plants in Jameshedpur and Dharwar while strengthening research and development. Mr Rana Sinha, Managing Director ... More

Panyam stock split okayed
HYDERABAD: The shareholders of Panyam Cements & Mineral Industries Ltd, at the extraordinary general meeting held on Wednesday, have approved a proposal to split the shares of the company. Accordingly, the shares will now be split into ... More

Radha Madhav Corpn plans IPO
MUMBAI: The Daman-based packaging and printing company Radha Madhav Corporation Ltd (RMCL) announced that is coming up with an initial public offer (IPO) of one crore equity shares of Rs 10 each at a premium of Rs 10 per share aggregating ... More

Seshasayee Paper to seek shareholders' nod to enhance borrowing limit
SESHASAYEE Paper and Boards Ltd will seek shareholders' approval to enhance its borrowing powers to fund its pulp mill expansion project. According to information provided by the company to the stock exchange, it will hold an extra ordinary ... More

BEML unveils Chinese-made wheel loader at Excon 2005
BHARAT Earth Movers Ltd (BEML) has unveiled the Chinese-made ZL30 wheel loader for marketing in the country. The loader made by Xiamen Company is used in infrastructure projects, opencast mines and construction industry, a company release ... More

Sunstar to invest Rs 19 cr in 2 years
RICE exporter Sunstar Overseas is planning an investment of Rs 19 crore in the next two years, said Mr Rakesh Aggarwal, Managing Director. The investment will go towards strengthening the processing capacity, setting up a co-gen power plant of ... More

INSIGHT

Clause 18 compliance — The form and substance
There is no dearth of talent; yet, corporates have been slow in complying with Clause 49 for more than a year now. The reasons are varied. More

RESTRUCTURING

Reliance demerger case hearing adjourned
THE Bombay High Court adjourned, for the second time, hearing on the demerger scheme of Reliance Industries Ltd (RIL) and its group companies. The next hearing has been posted for December 5. The hearing was adjourned as the petitioner who ... More

MERGERS & ACQUISITIONS

Grindwell Norton to buy bonded abrasives unit of Orient Abrasives
GRINDWELL Norton Ltd plans to acquire the bonded abrasives business of Orient Abrasives Ltd, for which the two companies have signed an agreement. The acquisition is subject to due diligence reviews and to regulatory and other approvals, ... More

NEW PROJECTS

Damodar Valley Corpn's Bengal, Jharkhand power plant proposals hit snag
DAMODAR Valley Corporation's (DVC) plans for setting up two mega thermal power plants of 1,000 MW each at Durgapur in West Bengal and Kodarma in Jharkhand have been hit. In Durgapur, despite all support from the State Government, the DVC has ... More

ALLIANCES & JOINT VENTURES

BG India, ONGC to operate 3 offshore deepwater blocks
BG Exploration and Production India Ltd (BGEPIL) and Oil and Natural Gas Corporation (ONGC) on Friday announced that they have reached an agreement to jointly operate three offshore deepwater exploration blocks on the east coast of the country. ... More

Apollo Hospitals ties up with Johns Hopkins arm — To set up diagnostic lab in Hyderabad
APOLLO Hospitals Enterprise Ltd has entered into a joint venture with Amcare Labs, an affiliate of Johns Hopkins International of the US, to set up a diagnostic laboratory in Hyderabad. Speaking to newspersons, Ms Preetha Reddy, Managing ... More

OUTLOOK

ONGC to prepare investment blueprint to boost output
ONGC is gearing up to prepare a three-year investment blueprint to enhance production both from its matured fields as well as through development of new fields. The initiative is expected to enhance production from the matured fields by 10 to ... More

Asia Cryo-Cell plans 2 overseas banks
The company would set up a stem cell transplant facility in Chennai in collaboration with a teaching hospital. More

Swasti Power hopes to execute hydel project at Uttaranchal before time
SWASTI Power Engineering Ltd, a Hyderabad-based independent power producer (IPP), expects to complete the Rs 118-crore 22.5 MW hydel station in Uttaranchal ahead of schedule by December 2007. The Managing Director of Swasti Power, Mr Y.S. ... More

Orchid's betalactam unit to yield Rs 270-cr sales
THE betalactam antibiotics facility of Orchid Chemicals & Pharmaceuticals, inaugurated by the President, Mr A.P.J. Abdul Kalam, on Thursday, will fetch sales of $60 million (Rs 270 crore) in 2007-08, the company's Managing Director, Mr K. ... More

PERFORMANCE

Tata Motors Nov sales up 9.1 pc
TATA Motors Ltd has reported total sales of 34,282 vehicles (including exports) for November 2005, up 9.1 per cent from 31,428 vehicles sold during the same time last year. According to an official statement, the company's domestic sales of ... More

PEOPLE

Subhash Chandra steps down as Zee Tele MD
MR Subhash Chandra, Chairman and Managing Director, Zee Telefilms Ltd, has stepped down from the post of Managing Director. The company informed the BSE that in view of the strengthening of the executive management by the appointment of ... More

New DuPont India President
NEW DELHI: Dupont India has announced the appointment of Mr Balvinder Singh Kalsi, Executive Director, DuPont India and Business Director - South Asia, DuPont Crop Protection, as its new Country President. He takes over from Mr Henrique ... More

Nish Patel takes over as MD of Alfa Laval India
MR NISH Patel takes over as Managing Director of the Pune-based Alfa Laval India Ltd. Mr Patel was previously involved in restructuring the company's UK operations. "Though the domestic market remains first priority, our focus on the exports ... More

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