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Corporate Front Page:
- Tata Steel to invest US$2mn in a steel-plate processing facility in UK to produce materials used in wind turbines.(FE)
- Ranbaxy has got USFDA approval for Aricept drug launch in the US market.(FE)
- Gujarat Mineral Development Corporation has managed to get nine responses for its Rs140bn aluminum project in Kutch, Gujarat. (BS)
- BPCL and its partners have made a major natural gas discovery in offshore Mozambique. (BS)
- Lavasa, a subsidiary of HCC is likely to approach the Bombay High Court seeking a stay on a directive issued by MoEF(Ministry of environment and forests.(ET)
- IVRCL Infra said its water and building division had bagged orders worth Rs5bn from various organizations. (BS)
- Punj Lloyd group announced that it has entered into MOU with Hopetech Sdn Bhd, Malaysia a provider of integrated solutions in automated revenue collections. (BL)
- GMR Infrastructures sold off its 50 stake in Intergen N.V. (BL)
- Ceat has acquired the global rights of the Ceat brand from Pirelli for Rs550mn, helping it to secure better pricing advantage and distribution strengths.(ET)
- Sun TV Network has appointed Global Media Management and World Media Connect to manage and grow its distribution and advertising business in North America.(FE)
- Tilaknagar Industries has successfully completed the QIP(Qualified Institutional Placement) of Rs1.35bn and has also announced the acquisition of a 100% stake in the Goa-based distillery, Kesarval Distillers.(FE)
- Dhanlaxmi Bank said that it has hiked its domestic term deposit rates by 0.5-1 per cent, across select maturities. (BS)
- Bafna Pharmaceuticals would invest Rs300mn in raising its production capacity two-fold in 2011-12 and plans to enter specialty segment of immunosuppressant, which are drugs used to prevent rejection of an organ after transplant, by next fiscal. (BS)
Economy Front Page:
- DoT (Department of Telecom) slaps show cause notices on 85 telecom companies in spectrum scam.(FE)
- CBI(Central Bureau of Investigation) has submitted status report on 2G scam to the Supreme court.(FE)
- The petroleum and natural gas ministry has asked the Planning Commission to constitute a committee to suggest a mechanism to average out prices of imported and domestic gas — a move expected to make gas prices uniform for consumers. (BS)
- The Asian Development Bank (ADB) today announced that it will extend US$315mn to Karnataka for a major overhaul of its overburdened state highway system. (BS)
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