CORPORATE
RESEARCH & DEVELOPMENT
Stone India develops pantograph for double stack container trains
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DIVIDEND ANNOUNCEMENT
JK Paper announces 15% dividend
JK Paper has reported a net profit of Rs 34.71 crore for the nine months ending March 31, 2008. The company, which changed its accounting year from July-June to April-March, has posted a gross sales of Rs 749 crore. This is an increase of Rs 7.1 ...
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NEW BUSINESS
BHEL bags Rs 506-crore ONGC order
New Delhi, June 26 Bharat Heavy Electricals Ltd (BHEL) on Thursday announced it has bagged a Rs 506 crore contract from Oil Natural Gas Corporation (ONGC) for upgradation of drilling rigs. Under the contract, BHEL would upgrade 12 ...
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GMR’s Turkey project achieves financial closure
Hyderabad, June 26 Istanbul Sabiha Gokcen Airport (Turkey), which is being expanded with a GMR-led consortium, has achieved financial closure, with ABN Amro Bank NV and Yapi Kredi Banks agreeing to give a loan of €336 million for the ...
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Lanco contract for Hind Const
Hindustan Construction Company Ltd has said it has received a Letter of Intent from Lanco Infratech Ltd, Gurgaon, Haryana, for execution of all civil works of power house, surge shafts, pressure shafts, switchyard and tail race tunnels near Subin ...
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RESTRUCTURING
ITC exits greeting cards biz
To focus on notebooks, office stationery; plans pens, pencils foray
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MERGERS & ACQUISITIONS
Sun Pharma to push bid for Taro
Files suit in New York
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Frontline Strategy buys stake
Mauritius-based Frontline Strategy Ltd announced the first investment of its recently launched SME-specific India Industrial Growth Fund, with a 26 per cent equity stake in Shriram SEPL Composites Pvt Ltd (SSCPL). A press release said SSCPL, a ...
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Is sell-out the cure?
Is the Ranbaxy sale a healthy development or the symptom of a deeper malaise in the pharma sector?
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HT Media acquires stake in realty major Sunil Mantri
Mumbai, June 26 HT Media Ltd has acquired a stake in Mumbai-based real estate major Sunil Mantri Realty Ltd. It has invested Rs 20 crore in equity shares of Re 1 each at a price of Rs 125.Sunil Mantri Realty’s projects are ...
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NEW PROJECTS
Lanco plans wind energy foray
Targets establishing 1,000 MW installed capacity
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Voith gets Rs 800-cr order for TNPL mill
Chennai, June 26 Tamil Nadu Newsprint and Papers Ltd has awarded the Rs 800 crore order for the supply of its third paper machine to Voith Paper, Germany.Voith Paper bagged the order over the contender Metso Paper, Finland, in the ...
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Amaravathi Mills to expand paper production
Chennai, June 26 Amaravathi Sri Venkatesa Paper Mills Ltd (ASVPM), a family-owned company, is expanding its newsprint production capacity based on recycled paper. According to Mr G.R. Vishnuvardhan, Chief Executive, ASVPM, the company ...
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OVERSEAS INVESTMENTS
Essar loses Esmark bid to Severstal
Mumbai, June 26 Essar Group has lost out to the Russian steel maker Severstal in its bid to acquire the US steel company, Esmark.According to information, Severstal offered Esmark a price of $19.25 per share, outbidding Essar’s ...
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NAPC going abroad for mining
Diversifying into water management, realty business
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Cabinet nod for ONGC Videsh’s investments
New Delhi, June 26 ONGC Videsh Ltd (OVL), the overseas investment arm of ONGC, has got the Cabinet Committee on Economic Affairs (CCEA) nod for investing $437 million in exploratory blocks in Trinidad and Tobago, and Brazil. OVL will invest ...
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REGULATORY BODIES & RULINGS
Strides ulcer drug gets approvals
Bangalore, June 26 Strides Arcolab Ltd has informed the Bombay Stock Exchange that it has received ANDA (abbreviated new drug application) approvals for its famotidin injection in four dosages. The stomach ulcer drug is licensed to its ...
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ALLIANCES & JOINT VENTURES
Momentive, Anabond tie up
Momentive Performance Materials Inc (formerly GE Bayer Silicones), through its India subsidiary Momentive Performance Materials (India) Pvt Ltd, has joined hands with Chennai-based Anabond Ltd to develop, manufacture and market ‘Spur ...
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OUTLOOK
Caterpillar to invest $200 m here
Chennai, June 26 Global construction and mining equipment major, the $45-billion Caterpillar Inc on Thursday announced $200 million investment at its Indian operations to increase capacity of its off-road vehicles, engines and also to set up a ...
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Eaton Power to focus on buss duct
Chennai, June 26 Eaton Power Quality Private Ltd (EPQPL), the electrical division of $13 billion US-based corporation, is gearing up to focus aggressively on buss duct — a replacement for power cables which helps high-rise buildings to ...
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PEOPLE
B.K. Birla to remain in charge of Kesoram for now
Kolkata, June 26 Mr Kumar Mangalam Birla is not willing to take charge of Kesoram Industries, at least immediately, according to Mr B.K. Birla, Chairman of the company. Talking to reporters after the company’s 89th AGM here on ...
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