Tuesday, May 13, 2008
Bajaj Auto
Bajaj Auto has formed a joint venture with Renault and Nissan to manufacture a small car in India of USD 2,500, reports Business Standard.
Videocon Industries
Videocon Industries plans to enter into hospitality and hydropower space, reports Business Standard. The company is in talks with the Uttarakhand government for various projects.
Essar Construction
Essar Construction (India) (ECIL), Essar group`s unlisted company, has bagged its first overseas construction project.The company`s pipeline division has been awarded the USD 56 million nickel slurry pipeline project in Madagascar, Africa. This project is scheduled to be completed within 13 months.
Bodal Chemicals
Bodal Chemicals plans to invest Rs 1.40 billion on forward and backward integration, reports Business Standard. The proposed expansion will be funded through internal accruals and loans
Tata Chemicals
Tata Chemicals and Khet-Se Agriproduce, an Ireland-based Total Produce joint venture company, have launched their wholesale business for fresh fruits and vegetables sourcing, packaging and distribution in Punjab, reports Business Standard
Phillips Carbon Black (PCBL)
Phillips Carbon Black (PCBL) has signed a joint venture (JV) with subsidiaries of Vietnam National Chemical for setting up a carbon black facility of 1,00,000 mt and co-generation of 16 mw of power in phases in Vietnam, reports Economic Times.
NTPC
NTPC plans to acquire a majority stake in coal mines in Indonesia, reports DNA. The mines are having reserves of about 200-300 million tons
Phoenix Mills
Phoenix Mills is in the final stage of acquiring three 30-acre plots in Ahmedabad, Hyderabad and Nashik for around Rs 8 billion, reports DNA. The company plans to develop malls and entertainment zones on these lands.
Kingfisher airlines
Kingfisher airlines plan to operate flights to four new destinations by the year end, reports Business Line. The airlines plans to fly to Bangladesh, Huston and New York and Sri Lanka.
Mercator Lines
Mercator Lines has drawn up a Rs 40-billion capital expenditure program for the next two years
Nilkamal
Nilkamal has acquired 5001 equity shares of the face value of Rs 10 each, representing 50.01% of the paid up capital of Starshine Land Developers (P) from its existing promoters for a consideration of Rs 50,010 only.
SAIL mou with BEML
Steel Authority of India (SAIL) has signed a memorandum of understanding (MoU) with Bharat Earth Movers (BEML) for supply of crucial equipment required for the company`s present operations as well as for its ongoing modernization and expansion program
Sita Shree Food Products
Sita Shree Food Products had received export orders worth Rs 100 million from Vietnam, Pakistan, UAE, KSA and turkey during April-May 2008. The company executed export orders worth Rs 83 million
indian market news
Petroleum Minister Murli Deora has urged the Finance Ministry to issue oil bonds to cover 57.1% of the total Rs 770 billion losses suffered by oil companies last fiscal, in view of the continuing spike in global crude prices, reports Economic Times
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