The Hindu Business Line : Friday, January 06, 2006

Highway Garden upgrades hotel
KOCHI: Highway Garden Drive In (Pvt) Ltd, which has been in the hotel industry for the last two decades in Kochi, has upgraded the hotel into a 3-star category to cater to the emerging market of the tourism industry in the State. The ... More

ANNOUNCEMENTS

ABB bags Rs 430-cr order to integrate ONGC's database
IN one of the biggest order in recent times, ABB India has bagged a turnkey order worth Rs 430 crore to provide an enterprise wide Supervisory Control and Data Acquisition (SCADA) system for ONGC's production and drilling facilities. The SCADA ... More

Nalco to buy 241 specialised rly wagons — To transport increased alumina output from Damonjodi
NATIONAL Aluminium Company (Nalco), the public sector aluminium major, having both mining and manufacturing facilities in Orissa, proposes to acquire an additional 241 specialised railway wagons, each of 55 tonnes capacity, to facilitate ... More

PRIVATE PLACEMENT

Bangalore turbines co gets Rs 2.6-cr funding from IFC
THE International Finance Corporation (IFC), the World Bank's private sector financing arm, has picked up a stake in Turbo Tech Precision Engineering Pvt Ltd through a private equity deal. Speaking to newspersons here on Thursday, IFC's Chief ... More

OVERSEAS BORROWINGS

L&T launches $100-m yen-denominated FCCB
L&T has considered both the interest of Japanese investors as well as the cost advantage of issuing the bonds denominated in yen. More

COMPANY LAW

Clarification

COURTS/LEGAL ISSUES

REPORTER'S DIARY
Note, what is in the air
THOSE who thought that the Ambani saga was over, need to think again. The two brothers may have carved out their own fiefdoms from the empire Dhirubhai left for them, but the business rivalry continues unabated. An anonymous note doing media ... More

RESTRUCTURING

SS Organics revamp
HYDERABAD: SS Organics Ltd has informed the stock exchanges that a meeting of its board of directors will be held on January 9. The meet will consider the order of the Appellate Authority for Industrial and Financial Reconstruction ... More

MERGERS & ACQUISITIONS

2 power joint ventures of SAIL, NTPC to be merged
Both NTPC and SAIL were for quite some time considering the merger of these two entities as they are in the same business of power generation and under the same management. Even the chairman and CEO of the two are same. More

NEW PROJECTS

RIL tender for K-G basin
MUMBAI: Reliance Industries Ltd has floated global tenders for building gas terminal facilities at the Krishna-Godavari basin on the east coast of India. The company has invited bids for EPC contract for construction of an onshore gas ... More

OVERSEAS INVESTMENTS

Electronica Machines sets up manufacturing unit in China to tap local market
PUNE-based Electronica Machines Tools Ltd, a manufacturer of indigenous electric discharge machines (EDMs), is setting up manufacturing facilities in China to tap the huge market. The Rs 3-crore China plant will cater to the Chinese market, ... More

Pidilite unit in Bangladesh
MUMBAI: Pidilite Industries Ltd has informed BSE that its wholly-owned subsidiaries Pidilite International Pte Ltd, Singapore and Pidilite Middle East Ltd, Jebel Ali, Dubai have set up a company, Pidilite Speciality Chemicals Bangladesh ... More

ALLIANCES & JOINT VENTURES

Israeli drug firm inks pact with two Indian companies
MUMBAI: Taro Pharmaceutical Industries, headquartered in Israel, has announced deals with two Indian companies, Alkem Laboratories and J.B. Chemicals, in the span of a fortnight. The outsourcing agreement with Alkem is for the ... More

DIVERSIFICATION

IDBI Capital awaiting RBI nod for foray into commodities
IDBI Capital is looking to diversify into commodities to stabilise its revenue streams and de-risk its portfolio of businesses. For its foray into commodities, the company is awaiting the Reserve Bank of India's nod. "We have already made an ... More

OUTLOOK

ONGC Videsh pushes for raise in investment limit
ONGC Videsh Ltd (OVL), the overseas arm of Oil and Natural Gas Corporation (ONGC), has yet again stepped up its demand for an increase in its investment limit, which is set at $75 million or Rs 300 crore, whichever is less. Sources said the ... More

Govt plans alternative measures to keep KIOCL functional
An expert committee under the Principal Secretary, Department of Industries and Commerce, is working out a plan to revive or restructure the State-owned NGEF as directed by the High Court, the Minister said. More