The Hindu Business Line : Friday, September 28, 2007

Suven Life to raise $50 m
Suven Life Sciences Ltd will raise funds to the tune of $50 million through ADR/GDR or FCCB route. The Hyderabad-based company has informed the BSE that the members at the AGM today have declared 25 per cent dividend for 2006-07. The AGM also ... More

NEW BUSINESS
Hind Prefab bags Rs 152-cr project
Hindustan Prefab Ltd has said that it has secured a housing project worth Rs 152 crore in Bihar. A memorandum of understanding to this effect has been signed between Mr Jaiveer Srivastavaa, Chairman and Managing Director of Hindustan Prefab, and ... More

ESOPS
Norms for fair market value of ESOPs soon
New Delhi, Sept. 27 The Finance Ministry expects to notify within a week the guidelines for determining fair market value (FMV) of stock options or sweat equity shares issued to employees. The determination of FMV was necessary to ... More

COMPANY LAW
‘Bill for new company law in winter session’
The Government plans to introduce a Bill for a new company law in the Winter session of Parliament, the Corporate Affairs Minister, Mr Prem Chand Gupta, has said.Addressing the National Convention on Investor Awareness, Mr Gupta said ... More

AWARDS & HONOURS
VSP bags PM's trophy
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COURTS/LEGAL ISSUES
Amul trademark case: Gujarat HC upholds ruling
Ahmedabad, Sept. 27 In a significant development, the Gujarat High Court has upheld an earlier order of the Anand District Court restraining two shop-owners here from using the Amul trademark. Mr Justice D.K. Patel of the High Court ... More

RESTRUCTURING
Sale of Balmer’s UK tea unit soon
Sale proceeds to be invested for expanding business More

MERGERS & ACQUISITIONS
Lupin acquires Rubamin
Mumbai, Sept. 27 Lupin Ltd has acquired Rubamin Laboratories Ltd (RLL), part of the Baroda-based Rubamin group, for an undisclosed amount. The pharmaceutical business of the Rubamin group, RLL focuses largely on advanced intermediates ... More

Indiastar (Mauritius) picks up 18.5% stake in IOL Chemicals
New Delhi, Sept. 26 Indiastar (Mauritius) Fund, a foreign private investor, has picked up 18.5 per cent stake in Punjab-based IOL Chemicals and Pharmaceuticals Ltd, formerly known as Industrial Organics Ltd. The board of IOL Chemicals ... More

Cornell sells 42 lakh shares in FACOR
Mumbai, Sept. 27 Cornell Corporation today sold 42 lakh shares of its holding in FACOR Steels Ltd. With this, its stake has decreased from 29.77 per cent to 27.74 per cent as per data available on the BSE. TAD (Mauritius) Ltd sold its stake ... More

NEW PROJECTS
Arcelor may begin work next year
Steel giant ArcelorMittal is hopeful of starting work on its proposed 12-million-tonne per annum capacity steel mill in Orissa next year, the Chief Executive Officer of ArcelorMittal India Ltd, Mr Sanak Mishra, said here on Thursday. Talking to ... More

IIL completes Phase I expansion
Insecticides (India) Ltd (IIL), which recently raised Rs 36.91 crore through an initial public offer, has said that it has commissioned its Greenfield pesticide synthesis plant in Chopanki, Rajasthan. "The company had raised funds from the IPO to ... More

OVERSEAS INVESTMENTS
Tatas aim for 60% revenue from overseas operations
Looking to improve brand visibility in UK More

ALLIANCES & JOINT VENTURES
Italian Space Agency, ISRO to expand ties
India and Italy have agreed to collaborate in Earth Observation Satellite (EOS) business, which has wide applications in civilian areas. The chiefs of the Italian Space Agency (ASI) and the Indian Space Research Organisation (ISRO) have ... More

GE Healthcare focuses on domestic market
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Somani, Ludowici form venture
New Delhi, Sep. 27 Somani Group, a Rs 2,000-crore business house with interests in steel, engineering, education and power, has announced a joint venture, Somani Ludowici, with Ludowici Mineral Processing Equipment PTY Ltd, an Australian ... More

‘Premier Travel plan can be referred to project board’
Franchisee, marketing fee by jt venture True Value Hotel More

DIVERSIFICATION
Videocon seeks telecom licence
The rush for telecom licences continued today with consumer durables major Videocon entering the fray. The company has applied for a pan-India unified telecom licence and is in talks with a US-based telecom player for setting up a joint venture. ... More

BONUS ANNOUNCEMENTS
Rajesh Exports plans stock split, bonus shares
Bangalore, Sept. 27 Jewellery manufacturer Rajesh Exports is planning to go in for a stock split and issue of bonus shares. A meeting of the company’s board will be held on October 22 to consider the issue of bonus shares and splitting ... More

OUTLOOK
‘DaimlerChrysler facing tough time
The monopoly of DaimlerChrysler India in the luxury car segment is likely to come to an end with a few global majors such as BMW and Audi players entering the fray. Mr Suhas Kadlaskar, Director (Corporate Affairs) of DaimlerChrysler, said that ... More

Vijayeswari Textiles turns focus to European market
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PEOPLE
Ratan Tata gets UK special recognition award
Mumbai, Sept. 27 Mr Ratan Tata, Chairman, Tata Sons, was today awarded the special recognition award by the UK Trade & Investment, at a function held here.The award was presented to Mr Tata by Lord Dougby Jones, UK Minister for ... More