CORPORATE
RESEARCH & DEVELOPMENT
IICT, BHP Billiton sign MoU for joint research
Hyderabad, June 5 The Indian Institute of Chemical Technology (IICT) here has signed a Memorandum of Understanding with Australian mining giant BHP Billiton. The understanding with BHP Billiton Innovation, Melbourne, would entail joint ...
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AWARDS & HONOURS
Two TN firms bag exporters’ excellence award
Coimbatore, June 5 Two Tamil Nadu-based companies — Anugraha Valve Castings Ltd located at Coimbatore and Tirupur-based CBC Fashions — have bagged the D&B-ECGC Indian Exporters Excellence Awards. The award is in recognition of ...
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RESTRUCTURING
Revamp: Damodar Valley board may consider KPMG proposals
To pave way for public issue
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MERGERS & ACQUISITIONS
M&M buys two-wheeler design house
Mumbai, June 5 Mahindra & Mahindra Ltd. (M&M) said on Thursday that the company signed an agreement with Italian two-wheeler design house, Engines Engineering, to acquire its business. The company did not disclose the cost of ...
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Irish twist to Sun Pharma-Taro tussle
Mumbai, June 5 Israeli drug-maker Taro’s indication that it plans to sell its Irish plant has become the latest flash-point in the ongoing public spat between the company and Sun Pharmaceuticals. Taro knows that Sun views the ...
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NEW PROJECTS
Essar Oil may go cautious on Vadinar unit expansion
Mumbai, June 5 Essar Oil may turn cautious in its implementation of the $6 billion expansion that it has proposed to take up at its 10.5 million tonne oil refinery in Vadinar in the wake of the Finance Ministry striking out refinery units ...
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HEG capacity expansion plan okayed
New Delhi, June 5 HEG Ltd has announced that its board has approved expansion of capacity from current level of 60,000 tonnes per annum (TPA) to 80,000 TPA at estimated investment of Rs 190 crore at its graphite plant at Mandideep. With ...
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OVERSEAS INVESTMENTS
Cairn India awarded licence in Lanka
Sri Lanka has awarded a licence to explore for oil and natural gas in the Mannar Basin to Cairn India. Block SL 2007-01-001 is offshore north-west Sri Lanka and covers approximately 3,400 Km2 in water depths of 200 metres to 1,800 metres. The ...
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REGULATORY BODIES & RULINGS
US nod for IPCA tablets
Coimbatore, June 5 IPCA Laboratories Ltd has received approval from the US Food and Drugs Administration to manufacture propranolol hydrochloride tablets USP 10 mg, 20 mg, 40 mg, 60 mg and 80 mg for the US market. Total annual market for the ...
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ALLIANCES & JOINT VENTURES
ONGC hires Reliance facility
OIL and Natural Gas Corporation Ltd. (ONGC) has entered into a contract with Reliance Industries Ltd to hire the latter’s single point mooring facility on Arabian Sea off Hazira coast in Gujarat. In a statement issued here, the company ...
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Finnish major Metso forms venture in India to outsource design services
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EIL, Tecnimont venture okayed
The Cabinet on Thursday cleared the proposed joint venture between Engineers India Ltd (EIL) and Tecnimont of Italy. The new JV will undertake execution of engineering, procurement and construction jobs, mostly in the Middle East. Tecnimont SPA, ...
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Punj Lloyd inks pact with Singapore firm
New Delhi, June 5 Engineering and construction firm Punj Lloyd Ltd on Thursday announced it has signed an agreement with Singapore Technologies Kinetics (ST Kinetics) for the manufacture of defence equipment. Under the agreement, ST ...
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INTERVIEW
LGB confident of improved margins
Coimbatore, June 5 The auto component industry is facing a tough time, caught between rising input costs and pressure on margins due to inability to pass on the entire cost increase to end users. A case in point is L.G. Balakrishnan & Bros ...
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WORK LIFE
‘Millennials’ bypass corporate security policies
Coimbatore, June 5 A study by Symantec Corporation on tech-habits of older employees vis-À-vis the millennial workforce has revealed that the latter “is more inclined to increase corporate risk and leave IT decision makers in the ...
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DIVERSIFICATION
Apollo intends to foray into pharmaceuticals
Enters into pact with Ericsson for providing telemedicine
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OUTLOOK
SAIL may increase prices after July
Cost pressures are enormous, says Roongta
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SAIL strives to secure coking coal supplies
Steel Authority of India Ltd, the country’s largest steel producer, is sparing no effort in securing supplies of a key raw material—coking coal. (Its captive iron ore mines meet its entire requirements.)A joint venture of ...
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