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Thursday, August 05, 2010
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PEOPLE: Tata Sons starts hunt for Ratan's successor
On Wednesday, Tata Sons formally kicked off the process to zero in on his successor through a five-member selection panel, including an external member. The Tata Sons board has eight members (besides Mr Tata) including Mr Noshir A. Soonawala, ...

ECONOMIC OFFENCES: Niranjan Hiranandani gets anticipatory bail
Mr Niranjan Hiranandani of the Hiranandani group got anticipatory bail from a Sessions Court here on Wednesday evening till ...

ALLIANCES & JOINT VENTURES: Maruti Suzuki may make cars for Volkswagen
Similar to pact with Nissan; launches Alto K10 at Rs 3.03 lakh. Maruti Suzuki India Ltd (MSIL) said on Wednesday that it may look to manufacture cars for Volkswagen's global market on a contract basis, similar to its current agreement ...

OUTLOOK: Hyundai promises new design products
‘New products will provide impetus for co's growth in next decade'. Hyundai Motor today promised to introduce into the Indian market “a spate of new products” in the ...

OPEN OFFERS: Well begun but half done
India's merger and acquisition (M&A) rules are all set for a makeover, with the takeover panel set up by the market regulator, SEBI, virtually rewriting the takeover Code. The Takeover Code recommendations made by the panel seek to make ...

NEW BUSINESS: Cabinet approves Hyderabad metro project deal for L&T
Govt to invest Rs 1,980 cr for land. L&T's financial bid for the Rs 12,132-crore Hyderabad metro rail project on Wednesday secured Andhra Pradesh Cabinet approval, with the Government agreeing to invest Rs 1,980 crore for land acquisition as ...

OPEN OFFERS: Takeover of controlling interest vs takeover of undertaking
Many a garden variety investor wistfully pined for parity when Ranbaxy's promoters got Rs 737 per every share — as opposed to the ruling market price of Rs 450 — comprised in their 34 per cent holdings whereas he got the ...

OVERSEAS INVESTMENTS: Adani Power to benefit from parent's coal asset purchase
Results show satisfactory financial performance. The company announced synchronising of its third 330 MW unit on July 29. The company's parent (Adani Enterprises) acquired Linc Energy's Galilee coal tenements, which may help Adani Power secure ...

ACCOUNTING STANDARDS: ‘Getting ready for IFRS is key concern for industry'
A seminar on the topic “International Financial Reporting Standards” was organised by the Centre for Corporate Development and Training in association with the Indian Accounting Association and the Department of Commerce of ...

DIVIDEND ANNOUNCEMENT: Govt receives dividend from RCF
The Union Minister of Chemicals and Fertilizers Mr.M.K.Alagiri received the dividend cheque of Rs 56.13 crore from Rashtriya Chemicals and Fertilizers (RCF) Ltd, a public sector company for 2009-10. Mr.J. Kohareswaran, Chairman and ...

NEW PROJECTS: NMDC hikes capex for FY-11 to Rs 1,000 cr
To commence work on new mine, steel plant. NMDC Ltd has finalised a capital expenditure of Rs 1,000 crore for the current financial year for a new mine and steel plant ...

RESTRUCTURING: Packaging firm Uflex to go ahead with $250-m expansion
Packaging company Uflex Ltd has said it is moving ahead with its proposed $250-million expansion even as the company exits ...

NEW PROJECTS: JK Tyres to invest Rs 1,500 cr in facility near Chennai
Production of radial tyres likely to start by next year-end. JK Tyres and Industries is setting up a greenfield radial tyre manufacturing facility at Sriperumbudur near here at an investment of Rs ...

NEW PROJECTS: RPower advances schedule
Reliance Power's 4,000-MW Krishnapatnam ultra mega power project, being developed by its wholly-owned subsidiary Coastal Andhra Power, is likely to be completed eight months ahead of schedule. The Central Electricity Regulatory Commission ...

PERFORMANCE: Eicher truck, bus sales up 47%
Eicher Trucks and Buses, a unit of Volvo-Eicher Commercial Vehicles, announced on Wednesday that its sales in July this year increased 47 per cent to 3,100 units. In the five-tonne and above commercial vehicle market, sales grew 61 per cent ...

NEW BUSINESS: L&T unit bags Rs 1,025-cr orders
The Buildings & Factories Operating Company, part of Larsen and Toubro, has secured orders totalling Rs 1,025 crore for the construction of two hospital buildings, residential projects in Mumbai and a cement plant from a major ...

ALLIANCES & JOINT VENTURES: UTV New Media ties up with Globosport
UTV New Media has signed up with tennis ace Mahesh Bhupathi's celebrity management company, Globosport, to develop applications and interactive services for mobile and ...

AUDITING: DoT to seek legal view on RCom audit
The Department of Telecommunications (DoT) will take the views of its legal advisor on the exact amount to be recovered from Reliance Communication for allegedly under-reporting its revenue to ...

OVERSEAS INVESTMENTS: Colombia looks for Indian investments
Business process outsourcing (BPO), information technology, biofuel, hospitality, packing and agro chemical would be some of the key areas where Colombia would look for Indian investments, according to a senior official from the Embassy ...

OUTLOOK: Yamaha discontinues Alba, G5, Gladiator
India Yamaha Motor Ltd (IYML) said on Wednesday that it has discontinued the production of the 106cc Alba and G5, and the 124cc Gladiator motorcycles since April ...

SOCIETY & DEVELOPMENT: Nokia adopts 5 villages to ring in inclusive growth
Handset maker Nokia has adopted five villages in Uttar Pradesh for offering free mobile handsets ...

OUTLOOK: Energetic Lighting's 2nd plant will raise CFL lamps output to 7m/month
Energetic Lighting India Pvt Ltd, a 50:50 joint venture between Delhi-based V P Electromech and the US-based Energetic Lighting Inc. to produce CFL lamps, hopes to produce 34 million lamps in 2010-11, the first year ...


Columnists: C Gopinath Harish Bijoor Ramanujam Sridhar Radhika Chada K Srikrishna




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