The Hindu Business Line : Friday, January 25, 2008

COURTS/LEGAL ISSUES
HC ruling on bonus, ex-gratia for TN textile workers
Chennai, Jan 24 The Madurai Bench of the Madras High Court has ruled that as per the Payment of Bonus Act, if a workman had worked for 30 days in a relevant period, he was eligible for a pro rata bonus. Therefore, once the management was ready ... More

RESTRUCTURING
Damodar Valley appoints KPMG for rejig
Plans to tap capital market More

MERGERS & ACQUISITIONS
United Spirits plans acquisitions to increase volumes
Consolidating brand portfolio; working on investments More

NEW PROJECTS
Daimler’s new plant to come up early next year in Maharashtra
Luxury carmaker DaimlerChrysler is set to commission its new manufacturing base at Chakan in Maharashtra early next year, which would enhance the company’s capability to offer a wide range of products.The Director of Sales and ... More

Ashapura to double bentonite capacity in Mangalore plant
To tap southern market; plans to make specialty additives More

JSW Steel gets into galvalume production
Mumbai, Jan. 24 JSW Steel has modified one of its galvanizing line to produce galvalume — a zinc–aluminium coated steel product. The company has a technology licence from US-based BIEC International Inc to produce galvalume ... More

OVERSEAS INVESTMENTS
Scorpio facility set up in Brazil
Mahindra and Mahindra announced the launch of the Mahindra Scorpio and its pick-up range (single and double cab) in Brazil, in partnership with Bramont-Montadora Industrial e Comercial de Veiculos Ltda on Thursday. A facility with the annual ... More

TRADE & LABOUR UNIONS
Tension in Vizag steel plant; two injured
There was tension in the Visakhapatnam steel plant on Thursday morning — as those displaced by the plant, who are on an agitation for the past three months seeking jobs in the plant — went on a rampage and stoned the administrative ... More

Production stopped in AP jute mill
Production has come to a halt in the Swarnandhra Jute Mill at Pydibheemavaram in Srikakulam district (on the Vizag-Srikakulam road) for the past four days, as the workers are on a strike. The CITU is leading the strike, according to the ... More

ALLIANCES & JOINT VENTURES
Cadila Healthcare, US co tie up to develop anaemia drug
Cadila to leverage expertise in drug development More

VENTURE CAPITAL
Shyam Equities picks up 20% in INS
New Delhi, Jan. 24 Bangalore-based Shyam Equities Pvt Ltd has acquired 20 per cent stake in Independent News Service Pvt Ltd (INS), the holding company of India TV for Rs 100 crore. The investment takes the Rajat Sharma-led INS’ ... More

DIVERSIFICATION
Gayatri Projects on diversification mode
Eyeing projects in water, infrastructure, power More

OUTLOOK
Piaggio to offer customised variants of LCVs
Hyderabad, Jan. 24 Piaggio Vehicles, part of Italian-automaker Piaggio, on Thursday announced its intent to offer customised variants of their sub-one tonne light commercial vehicles (LCVs), a segment which is growing at a fast pace in the ... More

IOC may get Rs 3,980 cr subsidy from upstream cos
IOC is likely to get Rs 3,980 crore from state-owned upstream companies — ONGC, Oil India, and GAIL (India) — as subsidy for the third quarter of the current financial year. To partly offset the revenue loss suffered by the ... More

Aditya Birla Retail looking at new formats
Bangalore, Jan 24 Aditya Birla Retail Ltd, the retail arm of the Aditya Birla Group, which made a foray into the country’s Rs 32,000-crore retail sector last year with the acquisition of the Fabmall and Trinethra supermarkets, is now ... More

Safran plans to expand in India
India is among the three countries where Safran Group, the international high-technology company, would like to increase its global footprint, the Chief Executive Officer, Mr Jean-Paul Herteman, said on Thursday. light combat ... More

Tata Teleservices hopes to expand to 700 towns in Tamil Nadu
Coimbatore, Jan. 24 Tata Teleservices Ltd (TTSL) expects to catapult itself among top three in the State with an aggressive expansion plan.The company also aims to figure among the top three telecom operators in the country by expanding ... More

PEOPLE
Veteran journalist passes away
Dr Somen Mukherjee, a veteran journalist who worked for now defunct Hindusthan Standard and Amrita Bazar Patrika and till recently in a private local Bengali TV channel, died here onThursday. He was 67. He is survived ... More

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