The Hindu Business Line : Friday, May 04, 2007

RESEARCH & DEVELOPMENT
Orchid Research bags award
Orchid Research Laboratories Ltd (ORLL), the wholly owned drug discovery subsidiary of Orchid Chemicals & Pharmaceuticals Ltd, has received the Frost & Sullivan Award for Partner of Choice in Contract Research - Collaborat More

ANNOUNCEMENTS
Kinetic, Sanyang venture to launch scooterette in June
More models, all terrain vehicles may follow More

DIVIDEND ANNOUNCEMENT
Automobile Corpn of Goa revenue at Rs 335.76 cr
The Board of Directors of the Goa-based Automobile Corporation of Goa Ltd (ACGL), a Tata group subsidiary, at its meeting held last week has recommended a dividend of Rs 10 per share for the year ended March 31, 2007 as against Rs 8 per share for ... More

Colgate to give out Rs 9 as deemed dividend
The promoter group now holds 51 per cent stake in the company. More

NEW BUSINESS
BHEL may get Ghana order
The unit of Bharat Heavy Electricals Ltd (BHEL) here is likely to bag a Rs 100 crore order for gas turbines from the Ministry of Energy, Ghana. According to a release, a high-level delegation of Ministry of Energy, Ghana, ... More

COURTS/LEGAL ISSUES
HC ruling on employees insurance Act provision
Writ petitions directed against notices to employers under Section 45(A) of Employees State Insurance Act, 1948 could not be entertained since remedy was available by way of appeal provided under Section 75, the Madras High Court has held. The ... More

ENVIRONMENT
ITC Sonar gets certified emission cut
ITC Sonar Bangla, Kolkata, has obtained Certified Emission Reductions (CERs) issued under the guidance of the United Nations Framework on Climate Change Conservation, says an ITC press release. Certified Emission Reductions is ... More

HUMAN RESOURCES
U21Global's second batch
Online graduate school U21Global launched the second batch comprising 51 executives of Indian Oil Corporation Ltd for its Hybrid Certificate Programme in Project Management. The pilot batch of the 15-week programme, which was launched in August ... More

MERGERS & ACQUISITIONS
ACC picking up 12% stake in Shiva Cement
May convert it into a joint venture in 2 years More

Wockhardt buys French firm Negma for Rs 1,091 cr
Wockhardt Ltd has acquired the Paris-based Negma Laboratories in an all-cash deal worth $265 million or Rs 1,091 crore. This is its fifth acquisition in Europe. The acquisition strengthens Wockhardt's presence in Europe, pushing the region's ... More

Refinancing for Tata-Corus deal
Tata Steel Ltd today said it would use a £ 3.17 billion non-recourse loan facility to refinance the Corus deal. The refinancing is being provided by a syndicate led by Citigroup, ABN AMRO and Standard Chartered Bank. The ... More

NEW PROJECTS
Asahi Songwon plans Rs 33.5-cr IPO
Price band has been fixed at Rs 90-108 More

HRS opens heat exchanger facility
It will cater to South Africa, South America and Asia-Pacific markets More

Phillips Carbon plans capacity expansion
Having achieved a turnaround in the fiscal 2006-07 with a PBDT of about Rs 65 crore (against Rs 1.78 crore in the previous year), Phillips Carbon Black Ltd (PCBL), an RPG company, is now set to expand its capacity by 1,25,000 tonnes. The capacity ... More

OVERSEAS INVESTMENTS
SreeLeathers sets up joint venture for East Europe foray
SreeLeathers Footwear & Accessories has set up a 50:50 trading joint venture in Athens, Greece, with Costa Ginnes, a local footwear distributor, for a major foray into the East European markets. Talking to Business Line here on the ... More

PSL ties up with US co for setting up unit
The city-based pipe manufacturing company, PSL Ltd, and A&L Group, located in the US, have entered into a joint venture to establish a pipe mill on a 156-acre site in the Port of Bienville Industrial Park, Bay St. Louis, Mississippi. PSL will ... More

Wockhardt on fast track to $1-b turnover
Becomes largest Indian pharma co in Europe More

TRADE & LABOUR UNIONS
Hyundai: Compensation options explored
On transferring spare parts division to Mobis India More

ALLIANCES & JOINT VENTURES
Siddeshwar signs MoU with US co
The city-based Siddeshwar Industries and Master Automatic, Michigan, US, have signed a memorandum of understanding (MoU) to form a joint venture company in India to manufacture forged auto components, precision machined ... More

EVENTS
Lalmahal Group completes 100 yrs
Lalmahal Group and 14 times winner of `Largest Exporter of Rice award from the Agriculture and Processed Food Export Development Authority (APEDA) has completed 100 years. The group was established in 1907 by (Late) Lala ... More

SICK UNITS
Trayons revival: Ball is in Govt's court, says promoter
Elenjical group all set to start; Govt says it's still sorting out issues More

OUTLOOK
OVL seeks Schedule `A' status
Turnover close to Rs 10,000 cr, profit Rs 1,000 cr More

NTPC plans foray into geothermal energy
Looking at 30-50 MW power plant More