The Hindu Business Line : Wednesday, February 21, 2007

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CORPORATE

ANNOUNCEMENTS
HLL to become Hindustan Unilever
Hindustan Lever has decided to change its name to Hindustan Unilever Ltd, subject to shareholder approval. "The company believes that the proposed name change provides the optimum balance between maintaining the heritage of the company and ... More

Biocon to begin phase 2 nasal insulin trials
Biocon Ltd has announced that Nasulin, an intra-nasal insulin spray it is developing with Bentley Pharmaceuticals Inc., will enter phase 2 trials in the country in March this year. The Drugs Controller General of India has cleared Nasulin for ... More

S.P. Jain Centre to tap corporate training space
S.P. Jain Centre for Management is looking at tapping the corporate training space. After setting up campuses in Singapore and Dubai, the institute has now set up a centre for executive MBA training at both these campuses. Though aimed at ... More

Australian copper for Sterlite unit
The first shipment of balcooma copper concentrate of 15,000 tonnes for the Tuticorin-based Sterlite Industries (I) Ltd, produced by Kagara Zinc Ltd, a public limited company in Australia, arrived at Tuticorin Port through the ... More

CREDIT RATING
Crisil downgrades TN bonds
Crisil, a rating agency, has revised downwards a clutch of Tamil Nadu Government guaranteed bonds issued by public sector agencies following "deterioration in the economic management by the Government of Tamil Nadu." According to rating ... More

IPR
Lupin in IP deal for hypertension drug
Lupin Ltd has entered into an agreement with Laboratoires Servier of France for the sale of certain patent applications and related intellectual property (IP) of blood-pressure drug Perindopril for multiple countries, the company ... More

RESTRUCTURING
HLL to exit marine products business
Move unlikely to affect seafood industry or exports More

MERGERS & ACQUISITIONS
L.N. Mittal to pick up stake in HPCL's Bhatinda project
To invest Rs 3,300 cr for 49% stake; first FDI in a public sector refinery More

Sony Imageworks picks up 50.1% stake in FrameFlow
The US-based Sony Pictures Imageworks has picked up a 50.1 per cent stake in FrameFlow, a Chennai-based company that provides `special effects' services for film production. At a press conference, Sony declined to divulge the amount involved, but ... More

ICI to sell refinish biz to Asian PPG
Automotive paints maker Asian PPG Industries will acquire the advanced refinish business of ICI India. The company, a joint venture between Asian Paints Ltd and US-based PPG Industries Inc, would buy the unit for Rs 52 crore. The ... More

NEW PROJECTS
Biocon to make insulin at new plant in Vizag
Company attracted by cost benefit factors, SEZ status More

REGULATORY BODIES & RULINGS
Aurobindo gets nod for Lisinopril
Aurobindo Pharma Ltd (APL), the Hyderabad-based pharma major, has obtained regulatory approval for its Lisinopril tablets in different dosages of 5, 10 and 20 mg strengths from South Africa. Lisinopril is the generic version of ... More

ALLIANCES & JOINT VENTURES
Lanco, JSPL venture to sign power purchase pacts
To supply power from Sasan ultra mega plant More

ICICI Bank, Sarovar Hotels' co-branded card
ICICI Bank has tied up with Sarovar Hotels to launch a co-branded credit card. Customers can use the card to get 30 per cent discount on room tariffs at select Sarovar hotels and 15 per cent discount at Sarovar restaurants. ICICI Bank hopes to ... More

GE, Air India enter pact for eco-friendly engines
New engines will be 15% more fuel efficient: Thulasidas More

DIVERSIFICATION
Manikchand Group to diversify
The Rs 800-crore Manikchand Group is diversifying into thermal power, cement and steel over the next couple of years, and is also giving a fillip to its bottled water business. Divulging that the total investment in the power and cement sectors ... More

SICK UNITS
Creditors can take sick co to court to recover dues: HC
If a company is referred to the Board for Industrial and Financial Reconstruction (BIFR), creditors cannot go to court to recover dues, right? Wrong, says Madras High Court. Section 22 of Sick Industrial Companies (Special Provisions) Act, ... More

Banks told to facilitate one-time settlement for Trayons revival
Kochi-based Elenjical group is the new promoter More

OUTLOOK
UB to hike breweries capacity to meet peak season demand
Plans more brands in super-premium category More

HLL to scale up Project Shakthi
HLL's heavy reliance on the traditional home and personal care businesses for growth has always been a subject of debate. This year, the company addressed this query by offering a few glimpses into the progress of its new ventures. Of the ... More

Abbott's AIDS drug in a patent spot in India
Patent application on soft gel version of Kaletra seems to be "abandoned" More

PEOPLE
Mehta new Chairman of ICAI branch
Mr T.C. Mehta has been elected as the Chairman of the Bangalore Branch of the Southern India Regional Council of the Institute of Chartered Accountants of India. On assuming charge, Mr Mehta exhorted the fellow chartered accountants to change ... More