The Hindu Business Line : Wednesday, November 09, 2005

BILT to set up stationery outlets — To leverage retail brands Matrix, Royal Executive Bond
BALLARPUR Industries Ltd (BILT) is all set to foray into retailing by opening exclusive stationery stores. It will leverage its retail brands, Matrix and Royal Executive Bond, and retail other stationery products, including pens, pencils and ... More

RPG Life Sciences gets US patent for Risperidone
RPG Life Sciences Ltd has got a US patent for its novel process of producing Risperidone, a pharmaceutical ingredient used in anti-psychotic medicines. RPG Life Sciences already has similar patents for Risperidone in the UK, Germany, France, ... More

AIA Engg IPO price band set at Rs 275-315
AIA Engineering Ltd, an Ahmedabad-based company, has priced its initial public offering of shares at Rs 275-315 per share. The company is offering 47 lakh shares of Rs 10 each in the IPO, which is through a book-building process. If fully ... More

No communication from UN, says Tata International
TATA International has said it has not received any communication from the UN or its committee on the reference made about the company's transaction in the Volcker report. In a statement issued today, a spokesman for the company said the ... More

BEML pays Rs 19.12-cr dividend
BANGALORE: Bharat Earth Movers Ltd (BEML) on Tuesday paid a dividend of Rs 19.12 crore to the Government - its share in the final dividend of 85 per cent for 2004-05. This was in addition to the interim dividend of 15 per cent paid by ... More

PREFERENTIAL ALLOTMENTS

Coromandel Cements pref offer
HYDERABAD: The board of directors of Coromandel Cements Ltd has approved a resolution to issue, offer and allot 30 lakh equity shares of Rs 10 each at par to the promoters. The board has also cleared a proposal to issue, offer and allot ... More

OVERSEAS BORROWINGS

Welspun-Gujarat raises $75 m thru FCCBs
WELSPUN-Gujarat Stahl Rohren Ltd announced that it has raised $75 million, including a greenshoe option of $10 million through a foreign currency convertible bonds (FCCB) issue. These zero coupon bonds have a tenor of five years and are ... More

RESTRUCTURING

Bhagyanagar Metals, Surana Tele to undergo demerger, restructuring
LISTED companies Bhagyanagar Metals , Surana Telecom , and unlisted Surana Infocom Ltd, and Value Infrastructure and Properties will go through a complex process of restructuring, demergers and consolidation of specific businesses. This will ... More

ICI to hive off rubber chemicals biz to jt venture with US co
ICI India Ltd today said it will transfer its rubber chemicals business to a joint venture company with US-based PMC Group International to protect the long-term interest of the business. PMC Group International and ICI will hold 51 per cent ... More

MERGERS & ACQUISITIONS

Dr Reddy's to buy Roche's Mexico unit for $59 m
The business at the Cuernavaca facility involves the manufacture and sale of APIs and intermediates to Roche and other innovator companies. More

IISCO-SAIL merger put to vote
NEW DELHI: The scheme of amalgamation of Indian Iron & Steel Co Ltd (IISCO) with the Steel Authority of India Ltd (SAIL) was put to vote on Tuesday. The outcome of the poll will be made public after the Chairman submits his report to the ... More

Spentex acquires Tai textile unit
NEW DELHI: Spentex Industries Ltd said it has acquired the assets of a Tai Group textile unit based in Ahmedabad for Rs 28.61 crore. The unit's assets had been attached by banks under the Securitisation and Reconstruction of Financial ... More

NEW PROJECTS

`Clear-cut policy must for meeting steel plants needs'
THE West Bengal Chief Minister, Mr Buddhadeb Bhattacharjee, has presented a strong case for a "clear-cut policy" that will allow inter-State movement of iron ore to meet the raw material requirements of steel plants that are located in States ... More

REGULATORY BODIES & RULINGS

Panel mooted to study strengthening of SFIO
THE Ministry of Company Affairs proposes to set up a high-level committee to examine various aspects for strengthening the Serious Frauds Investigation Office (SFIO) including whether the investigating body should be given more teeth. A senior ... More

ALLIANCES & JOINT VENTURES

Thapar Group signs pact with Option Care for BPO foray
THE Gautam Thapar-promoted, Thapar Group, has entered into a 70:30 joint venture with US-based healthcare service provider Option Care Inc, to enter the BPO business. In a statement, Mr Gautam Thapar, Chairman, Salient Business Solutions said, ... More

Cipla to ink deal with US co Akorn for anti-infective drug
MUMBAI-based drug company Cipla Ltd is set to formalise a deal with Akorn Inc for the development and supply of a generic anti-infective drug. Cipla top brass confirmed the development, but no details were available on the drug or the ... More

DIVERSIFICATION

Fan major Khaitan diversifies into fluorescent lamps
KHAITAN Electricals Ltd, has diversified into other electrical products such as compact fluorescent lamps (CFL), wires, cables and other equipment. The company, which is listed both in NSE and BSE, also plans to introduce a range of domestic ... More

OUTLOOK

Toyota may set up next plant in Bangalore
TOYOTA is likely to set up its next plant by the side of its existing factory near Bangalore. A car plant outside Karnataka may come up only in 2015. Sources close to Toyota Kirloskar Motor told Business Line that the top brass of the ... More

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