CORPORATE
MODERNISATION
Lakshmi Machine in modernisation mode
Invests Rs 180 cr over the last two years
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RESEARCH & DEVELOPMENT
GlaxoSmithKline, Ranbaxy to expand R&D alliance
Ranbaxy Laboratories and GlaxoSmithKline (GSK) are expanding their existing R&D association. The new agreement could, claims Ranbaxy, help it earn over $100 million (Rs 440 crore) in potential `milestone payments' and up to double digit in ...
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ACCOUNTING STANDARDS
ICAI okays deferment of AS-15
To refer to accounting standards panel
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NEW BUSINESS
ICSA bags Rs 17-cr order
ICSA India Ltd has secured work orders with a contract value of Rs 17.57 crore from the Chief General Manager, APEPDCL, on 100 per cent turnkey basis. The company has informed BSE that the nature of work involves sub-stations in Visakhapatnam ...
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NCR Corp to set up ATMs for SBI
NCR Corporation-India has received the contract to set up 3,000 ATMs for SBI and its associate banks. "This is probably the largest project of its kind. We will be providing the hardware, setting up the kiosks as well as managing the ATMs," ...
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GE bags $100-m HAL order
Hindustan Aeronautics Ltd (HAL) has ordered an additional 24 F404-GE-IN20 afterburning engine for the first operational squadron of the Tejas fighter aircraft. The order is valued at over $100 million (over Rs 450 crore) and ...
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COURTS/LEGAL ISSUES
`Managements too have right to engage lawyer'
If workmen engaged a trained reasoned lawyer, the managements should not be denied the same right by relying on Section 36(3) of the Industrial Disputes Act, the Madras High Court has ruled. Workmen withholding consent to employer seeking ...
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ENVIRONMENT
ONGC to have clean development mechanism project
First PSU to have it with UN registration
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RESTRUCTURING
CMS Energy, ABB sell stakes in ST-CMS Electric
Pact signed to sell subsidiary; deal may end by mid-2007
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MERGERS & ACQUISITIONS
Ranbaxy selects advisor for possible Merck deal
Ranbaxy Laboratories Ltd has finalised a financial advisor for its bid for the generic business of Merck KgaA. Mr Malvinder Mohan Singh, CEO and MD, refusing to name the advisor or the private equity firms the company was in discussion with, ...
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NEW PROJECTS
Sintex power plant at Kalol
Sintex Industries announced the commissioning of an 18.9 MW power plant at its Kalol manufacturing facility. The unit, set up at a cost of Rs 45 crore, will cater to the total power requirements of the textile and plastic segments at the ...
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Suzuki Motorcycles to foray into scooter market
Suzuki Motorcycle India Private Ltd today said it would make a foray into the domestic scooter market by the middle of this year. "We have created an additional one-lakh capacity for producing scooters, which we expect to launch in the market by ...
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OVERSEAS INVESTMENTS
Hindustan Aeronautics set for Russian venture
`Work could begin immediately after finalising agreements'
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L&T opens ready-mix concrete unit in Dubai
Larsen & Toubro Ltd said it has launched a ready-mix concrete (RMC) plant with a production capacity of 2,000 cubic metres per day in Jebel Ali, Dubai. The project is in joint venture with local partner Al Minwal Trading. "The cost of the ...
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Pyramid Saimira in Malaysian tie-up
Pyramid Saimira Theatre Ltd has announced a tie-up to set up a theatre chain in Malaysia with 150 multiplexes and single screen theatres along with Kuala Lumpur-based Asian Integrated Industries Sdn. Bhd. This joint venture will ...
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ALLIANCES & JOINT VENTURES
NTPC nearing long-term pact with Nigeria
To get gas supplies in return for developing power plants
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Defence products: BEL, Northrop Grumman tie up
Northrop Grumman Corporation, a US defence contractor, and Bharat Electronics Ltd on Tuesday said both the companies will co-produce defence-related products for India. As part of the arrangement, the companies will explore business ...
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Pyramid ties up with Ritual Developers
Theatre chain group Pyramid Saimira Theater Ltd has entered into a three-year alliance with Bangalore-based Ritual Developers Ltd to set up multiplexes in Karnataka. According to the agreement, Ritual will develop 15 multiplexes across Bangalore, ...
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SAIL signs MoU with Railways
Steel Authority of India Ltd (SAIL) on Tuesday signed a memorandum of understanding (MoU) with the Indian Railways for supply of 34 high power locomotives over the next three years. The MoU has been signed with a primary ...
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SOCIETY & DEVELOPMENT
Pratt & Whitney gesture
Pratt & Whitney, a division of United Technologies Corporation, today presented a $15,000 grant to project Krushi, a programme aimed at rehabilitation and education of homeless and needy children in Hyderabad. This takes the ...
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DIVERSIFICATION
Fortis to invest Rs 800 cr for foray into health stores
Customer-centric one-stop shop for all health solutions
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Prajay Engg to diversify into hotels
Prajay Engineers Syndicate Ltd, the Hyderabad-based, real estate and property developers, has firmed up a Rs 450-500 crore diversification plan into the hotel and hospitality sector. The company is keen to create at least 2,000 hotel rooms by ...
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Pantaloon Retail to open healthcare clinics, gymnasiums
Forms joint ventures with Manipal Group, Talwalkars
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OUTLOOK
Suzuki commits Rs 11,000 cr for India
Rs 730 cr to be invested in two-wheeler venture
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Ansal to invest Rs 10,000 cr in Punjab
Upbeat on the realty prospects in Punjab, Delhi-based Ansal Properties and Infrastructure Ltd plans to invest Rs 10,000 crore in the State in the next 3-4 years. ``We will launch 15 projects in Punjab in the next six months, apart from the ...
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ONGC wants to sell oil from Panna-Mukta fields to MRPL
ONGC, jt venture partners are trying to resolve issues with IndianOil
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PERFORMANCE
Ashok Leyland January sales rise 67%
Ashok Leyland has reported a 67 per cent growth in sales in January with total vehicle sales of 9,650 against 5,787 in January 2006. Domestic sales were up by 62 per cent with sales of 9,096 (5,618) vehicles. According to a press release from ...
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PEOPLE
ONGC CMD post: Cabinet panel rejects list
India's most valuable public sector company, ONGC, may have to wait for sometime before it gets a full-fledged chief. The Cabinet Committee on Appointments has rejected the entire panel of names proposed for the post of Chairman and Managing ...
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