OVERSEAS BORROWINGS
Damodar Valley Corpn exploring overseas loans
Financing its mega capacity expansion plan More

NEW BUSINESS
Hindustan Dorr bags IOC order
Hindustan Dorr Oliver Ltd (HDOL) has bagged a Rs 85 crore order from Indian Oil Corporation (IOC). The order is for re-cycling plant for IOC for their Haldia Refinery, which is the biggest recycling plant using Reverse Osmosis ... More

ESOPS
Fringe benefit to employer from FBT on ESOP
There is nothing in law which prohibits or prevents a company from claiming ESOP as tax-deductible expenditure. More

Matrix allots ESOP shares
The compensation committee of the board, Matrix Laboratories Ltd had allotted 2.81 lakh equity shares of Rs 2 each under ESOP-2004 scheme. Consequent to the above allotment, the paid-up share capital of the company has increased ... More

HUMAN RESOURCES
US corporates outsource legal work to India
It's not just law firms or individual attorneys that are outsourcing their legal processes to hundreds of lawyers engaged in LPO in the country. In fact, when large US corporates are fighting a case in the US, the company's legal department at ... More

RESTRUCTURING
Asian Hotels board proposes split into 3 independent units
`Promoters' interest creating potential conflict of interest' More

OVERSEAS INVESTMENTS
OVL plan to buy 33% stake in Egyptian block gets Cabinet nod
Block operated by Royal Dutch Shell More

Dr Reddy's opens office in Nigeria
Dr Reddy's Laboratories Ltd, the Hyderabad-based pharma major, has expanded its presence in Africa with the opening of its 40th overseas office in Lagos, Nigeria, in partnership with Phillips Pharmaceuticals. This distributor-based model will ... More

ALLIANCES & JOINT VENTURES
Rlys signs coal transportation pact with Nagarjuna Power
Co will pay 5% more than Rlys' usual freight charges for coal More

Jones Lang LaSalle entering India in Q3
Jones Lang LaSalle Hotels is all set to enter the Indian market to offer its hotel investment services, in a 50:50 joint venture with the real estate services and money management firm Jones Lang LaSalle Meghraj. Jones Lang LaSalle Hotels ... More

US restaurant chain Sbarro forays into India
Opening of 10 outlets by the end of fiscal 2008 planned More

BONUS ANNOUNCEMENTS
EIH net up at Rs 59 cr in fourth quarter
EIH Ltd has reported a net profit of Rs 59.31 crore (Rs 37.33 crore) in the fourth quarter to March 31, 2006-07. The net profit for 2006-07 was Rs 200.45 crore (Rs 188.81 crore). The consolidated net profit stood at Rs 200.51 (Rs 195.24 crore). ... More

OUTLOOK
Volvo India on the lookout for new export markets
Encouraged by operations in India More

Cynosure plans launch of battery-run 3-wheeler, mobike
Company will assemble the Chinese vehicles in India More

GM may hike capacity of Gujarat Halol plant
Even as General Motors India's new manufacturing plant at Talegaon, Pune, is set to be commissioned next year with an initial installed capacity of 1.40 lakh cars per annum, the capacity of its existing Halol plant in Gujarat may be expanded from ... More

Midhani to expand capacity
Mishra Dhatu Nigam Ltd (Midhani) is increasing its melting capacity from the current five tonnes to 15 tonnes in the next 12 months and taking a host of measures including implementation of ERP to increase efficiency and cut costs. The ... More

Gujarat State Petro expecting satellite oil reserve in KG block
Starts exploratory drilling in northern part More

Hilti India eyes Rs 200-cr sales
Hilti India, a wholly owned subsidiary of Hilti Corporation is aiming to double its sales turnover to Rs 200 crore by 2009, from Rs 100 crore estimated in 2007. The company is also eyeing a 30-35 per cent annual growth in its employee base, ... More

PERFORMANCE
Avtec Ltd revenues up 15%
Auto components company Avtec Ltd on Thursday said it had clocked revenues worth Rs 570 crore in the second year of its operation. In a statement issued here, the company said that its revenues had increased by 15 per cent ... More

PEOPLE
New MD for Kellogg's India
Kellogg's India has a new Managing Director in Mr Anupam Dutta. Mr Dutta, who was Head of Dairy Business, Britannia New Zealand Foods, will exit the company by the end of this month. He will assume office in Kellogg's on July 2. ... More