City Union Bank Opens Branch At Krishnagiri And Paramakudi (Tamil Nadu)

City Union Bank Ltd has informed that the Company has opened the Branch at Krishnagiri and Paramakudi (Tamil Nadu) on March 28, 2007.

NTPC To Join Hands With TELK

Kochi: The NTPC board has decided to go for a joint venture with the Kerala-owned Transformers and Electricals Kerala Ltd (TELK). Since a decision on the percentage of equity participation in the joint venture has to be taken by the Centre, NTPC has forwarded its board''s recommendations to the Union Government and a final decision is expected before April 10. The Kerala Government mulls to keep 51 per cent stake in TELK while the rest could be given to NTPC as its investment in modernisation and expansion of the unit. NTPC, which has a lot of captive requirement, will be able to curtail the lead-time in sourcing the capital equipment.

BHEL Establishes Centre Of Excellence In Hyderabad

New Delhi: Bharat Heavy Electricals Ltd (BHEL) has established its fourth Centre of Excellence Surface Engineering (COE-SE) at its corporate R&D division in Hyderabad at an investment of Rs 8.4 crore. The centre would enhance BHEL''s capability in specialised area of surface coatings and treatment, besides developing technologies for products such as hydro, steam, gas turbines and boilers. It would serve as a major facility for BHEL''s frontier research projects for exploring the use of nano materials for surface engineering applications. It will also explore new applications for BHEL and non-BHEL products and facilitate shift of technology to BHEL''s units in respective areas, besides networking with leading organisations and experts both in India and abroad.

Accel Frontline To Provide Automatic Ticket Vending Machines For Indian Railways

Accel Frontline Ltd has informed that the Company has been awarded a prestigious contract by the Centre for Railway Information Services (CRIS) for installing and maintaining Smart Card based Automatic Ticket Vending Machines (ATVMs) across Western and Central Railway stations incLuding Suburban Stations of Mumbai.In the first phase, 300 ATVMs are to be instaLled by the Company. Keeping in the view of the volume of passenger traffic, Railways may go for more ATVMs in the future.

ONGC Mulls Exploration Services Subsidiary For Abroad Projects

Kolkata: ONGC is considering floating an exploration service subsidiary for taking up overseas projects for ONGC Videsh Ltd (OVL). The new company is likely to be operated by ONGC''s existing manpower in exploration and production. Apart from ensuring higher revenues for the group, the proposals, which will soon be placed before the committee of executive directors of ONGC is targeted at improving the company''s efficiency in exploration and production at home and also, check flight of human capital.

LIC Wants First Right On SUUTI Stake In UTI Bank

Mumbai: Life Insurance Corporation (LIC), the public sector life insurer, seeks government to give it the first right to buy the 27.47 per cent stake held by Specified Undertaking of Unit Trust of India (SUUTI) in UTI Bank, a mid-sized private sector bank. It makes sense for an insurance company to own a bank or a bank to own an insurance company. LIC should be given the first right (to purchase SUUTI''s stake) as it was the co-promoter of the bank. LIC already holds 10.39 per cent stake in UTI Bank and also about 27 per cent in public sector Corporation Bank.

Kirloskar Oil Inks MoU With Government Of Maharashtra

Kirloskar Oil Engines Ltd has announced that the Government of Maharashtra under the aegis of Industries Ministry signed a Memorandum of Understanding (MoU) with the Company on March 26, 2007.Having created the Worlds Largest Business of Diesel Generating Sets in 3 to 600 kVA range under the brand Kirloskar GREEN, to meet its growing demand, the Company is investing in a green field EoU plant to manufacture Silent Generating Sets for Global Customers.To meet the growing demand from its Domestic and Global customers for engines, the Company is investing in a green field world-class engine manufacturing plant. The capacity of the plant will be stepped up in phases to 100,000 engines per year.

GE Shipping Takes Delivery Of New Building MR Product Tanker

Great Eastern Shipping Company Ltd (GE Shipping) has announced that the Company took delivery of its new building MR product tanker Jag Prakash. The 47,400 DWT product tanker built at STX Shipbuilding Company Ltd, Korea is dually classed with Indian Register of Shipping [IRS] and Lloyds Register of Shipping [LRS].With the induction of Jag Prakash, the Companys fleet of 45 vessels comprises 34 tankers (14 crude oil carriers, 18 product carriers, and 2 LPG carriers) and 11 drybulk carriers (1 capesize, 2 panamax, 5 handymax and 3 handysize) with an average age of 12.5 years aggregating 3.27 Mn dwt.The Companys current new building order book comprises 6 Product tankers (2 Medium Range and 4 LR1 Product tankers aggregating 0.38 Mn dwt).

Govt Unlikely To Permit ONGC-BP Alliance For Kutch Block

New Delhi: British Petroleum (BP) may have to use its persuasive skills to the hilt in order to convince the Petroleum Ministry to allow it to come in as a strategic partner in ONGC''s exploration block in Gujarat''s Kutch basin. Both BP and ONGC have been trying to ask the Ministry''s approval for strategic tie-ups for GK-DW-1 block in the Kutch basin where the two have already chalked out a work programme. The GK-DW-1 block was awarded to ONGC on nomination basis and the exploration licence of this block is effective up to September 2009. The British company has also proposed that it would like to conduct a joint technical study with ONGC, which would better define the prospects in the area.

ICICI Securities Renamed ICICI Securities Primary Dealership

ICICI Securities, which is authorized to undertake primary dealer business, has been renamed as `ICICI Securities Primary Dealership` with effect from Mar. 1, 2007. ICICI Securities is a leading full service investment bank with a dominant position in all segments of its operations viz., corporate finance, fixed income and equities. It is a subsidiary of ICICI Bank, the largest private sector bank in India, and operates out of Mumbai with offices in New Delhi, Chennai, Kolkata, New York, London and Singapore. ICICI Securities is also registered with the Financial Services Authority, UK (FSA) and the Monetary Authority of Singapore (MAS) to carry out corporate advisory services.

NTPC Inks MoU With Power Ministry

Kolkata: NTPC Ltd has inked a memorandum of understanding (MoU) with the Ministry of Power. The MoU comprises targets of important milestones related to ongoing projects of NTPC Ltd namely Sipat-I (3X660 MW), Sipat-II (2X500 MW), Barh (3X660 MW), Korba (1X500 MW), Dadri-II (2X490 MW), Farakka- III (1X500 MW), Koldam Hydro Electric Power Project (4X200 MW), Loharinag Pala Hydro Electric Power Project (4X150 MW), Tapovan-Vishnugad Hydro Electric Power Project (4X130 MW) and targets for coal mining activities. Targets relating to total quality management, human resource development, business development activities including activities of gas exploration, distributed generation, R&R, ERP and subsidiaries of NTPC such as NTPC Vidyut Vyapar Nigam Ltd, NTPC Electric Supply Company Ltd and NTPC Hydro Ltd), R&D and Energy Technology, project management certification, ash utilisation and environment measures are also part of the MoU.

JNPT To Infuse Rs 500cr For Container Terminal Expansion

Mumbai: India''s premier container port Jawaharalal Nehru Port Trust (JNPT) will be having a one more container terminal in addition to its existing three container terminals. The port is already in the process of building Rs 5,000 crore fourth container terminal in which over 40 players have evinced their interest. JNPT would extend the existing container berth operated by JN Port itself and Dubai Ports World by 330 metre. The estimated cost of the project was Rs 500 crore. Following the approval of MoS, the JNPT board will call global tenders for developing this container berth as exclusive and dedicated box facility. The port recently appointed UTI Bank as an advisor for techno economical feasibility study. The consultant was also studying various options like handling of RO-RO vessels at berth. JN Port had earlier carried out model studies through the Pune-based Central Water and Power Research Station (CWPRS) for reclamation work at the north.The terminal will give great relief to users. Once completed this container berth was likely to handle about 7.2 million tonne (ie 600,000 twenty-foot container units) per annum. It was likely to become operational by 2008. In view of expected growth in container traffic and shorter turnaround along with optimum utilisation of feasible water front area, difficulties in container stacking would be reduced.

GCPL & SCA Hygiene Products AB, Sweden Form 50:50 Joint Venture

Godrej Consumer Products Ltd (GCPL) has informed that SCA Hygiene Products AB, Sweden, (SCA) a 100% subsidiary of the SCA Group, and the Company on March 24, 2007 have signed an agreement to forms Joint Venture Company which will manufacture and market paper based absorbent hygiene products, specifically sanitary napkins and baby diapers, in India, Nepal and Bhutan SCA and the Company will be equal partners in the Joint Venture incorporated as Godrej SCA Hygiene Ltd. Mr. A B Godrej, Chairman Godrej group of Companies will be the Chairman of the new entity which is being set up with an equity capital of Rs 200 million through equal investments by both parents.SCA is a global consumer goods and paper Company that develops, produces and markets personal care products, tissue, packaging solutions, publication papers and solid-wood products. The Group conducts sales in some 90 countries and with its TENA brand is the worlds leading provider of absorbent incontinence products, holding a global market share of 26 per cent. Its strong, market-leading brands for baby diapers include Libero and Up&Go and for feminine hygiene products Libresse, Nana, Bodyform and Nuvenia. SCA will bring to the Joint Venture its world leading technology and brands for the Indian market.

Thomas Cook Board Recommends Dividend & Considers Proposal For Rights Issue

Thomas Cook India Ltd has informed that the Board of Directors of the Company at its meeting held on March 23, 2007, inter alia, has transacted the following:1. Recommended dividend @ 50% for the fourteen months ended December 31, 2006.2. Considered proposal for Rights Issue of Shares of upto Rs 225 crore.

Ruchi Soya - Result OPostal Ballot

Ruchi Soya Industries Ltd has informed that the members of the Company have passed the following special resolutions by way of postal ballot, with requisite majority:1. To amend the Other Object Clause of the Memorandum of Association of the Company by inserting the following paragraph after the existing paragraph 75(b):75(c) To plant, grow, cultivate, process, produce, manufacture, raise, import, export, buy, sell, distribute and / or otherwise deal in all kinds and varieties of cash crops including Jathropha, Palm plantation, medicinal plants, petro-chemicals, bio-diesel and all by-products thereof.2. To commence the business as stated in Clause 75(c) of the Other Object Clause of the Memorandum of Association of the Company, which is reproduced hereunder:75(c) To plant, grow, cultivate, process, produce, manufacture, raise, import, export, buy, sell, distribute and / or otherwise deal in all kinds and varieties of cash crops including Jathropha, Palm plantation, medicinal plants, petro-chemicals, bio-diesel and all by-products thereof.

Parsvnath Conducted The Bhoomi Pujan & Announces The Launch Of Parsvnath Privilege

Parsvnath Developers Ltd has announced that the Company conducted the Bhoomi Pujan and announced the launch of 3-bedroom air-conditioned luxury condominium, Parsvnath Privilege in Sector Pi, Greater Mo (U.P.). Parsvnath Privilege has convenient connectivity to major landmarks of Delhi. Parsvnath Privilege will redefine luxurious living for the people of Greater Noida.This magnificent project worth approximately Rs 325 crore sprawls over an area of 25 acres with built-up area of more than 18 Lacs sq.ft. in the dose vicinity of Asias largest 18-hole Golf Course, the Parsvnath Privilege has over 80% of the total area dedicated to green lands and extensive landscaping. The remaining 20% has beautiful, ultra-modern air-conditioned multi-storeyed condominiums. Parsvnath Privilege is a place where the natural green ambience blends with modern architecture in a perfect way.The rich specification of Parsvnath Privilege includes imported marble flooring in living / dining, laminated wooden flooring in master bedroom, Jacuzzi in bathroom and modular kitchen with facilities like piped gas supply.These luxury multi-storeyed condominiums are aesthetically designed to give natural light and cross ventilation. Features like entrance lobby, wide corridors, lifts in each block and permanent exterior finish, 100% power back-up, RO plant, broadband connectivity, video phones, access control / CCTV, etc. make Parsvnath Privilege a celebration of grand lifestyle and an address to impress.This project will offer its residents the privilege of a well-equipped club with swimming pool and lavish celebration zones. It will also be equipped with an ultra-modern health and fitness center as well as courts for outdoor games, a card arid billiards room and a Dining Lounge.

GG Dandekar Enters Into An Agreement With Pusti Enterprises

GG Dandekar Machine Works Ltd has informed that the Company has entered into an agreement with M/s. Pusti Enterprises Pvt Ltd on March 22, 2007 for the sale of unused vacant land admeasuring 30293 sq. mtrs. owned by the Company at Bhiwandi for a total consideration of Rs 16.29 crores.

Coca-Cola Relocates Kerala Bottling Unit To Orissa

Hindustan Coca-Cola Beverages, the bottling arm of Coca-Cola India, has moved one bottling line of its controversy-ridden Plachimada plant in Kerala, to Orissa. This could mark the beginning of Coca-Cola relocating its entire bottling operations out of the state. In all, the soft drink major has three bottling lines at its Plachimada plant, all of which have been lying idle since 2004. The company had put on hold bottling activity in the state three years ago, following a government directive to stop drawing ground water from its plant premises. Later, Coke obtained a conditional licence to operate its plant, renewable every three months. The company is in the midst of a $250 million restructuring exercise involving its bottling and marketing operations. It is in the process of buying out idle manufacturing capacities of co-bottlers, besides setting up new lines to support its proposed forthcoming launches. The company has been in negotiations with its co-packers in Balia, Kanpur, Rourkela and Aurangabad, to buy-out their surplus capacities, and some of the deals have already been sealed.

IDBI Capital Inks Pact With Oriental Bank

IDBI Capital Market Services Ltd on March 21 inked a memorandum of understanding (MoU) with Oriental Bank of Commerce (OBC) to offer e-trading services through www.IDBIpaisabuilder.in. The portal allows online investment in equities, mutual funds and initial public offerings. Facilities of investing online in equity on the BSE and the NSE, F&O (NSE), mutual funds (including SIP facility), portfolio tracker, two equity trading platform to all customers and custom stock screener are among the features on offer. The new platform offers a host of facilities including a corporate library that provides company information of more than 4,000 companies including balance sheet for five years, profit and loss statements among others. The charges for the service would be competitive and likely to vary from 0.2 per cent for small investors to 0.5 for large customers. There is also to be a one-time charge of Rs 700.

UTI Bank Sets Up Branch In Aluva

UTI Bank has set up branch in Aluva, Kerala. UTI Bank now has a network of 476 branches, 53 extension counters and 2,269 ATMs across the country. The branches spread across 315 cities and towns enable the bank to reach out to a large cross section of customers with an array of products and services, catering to both the retail and corporate segments.

GE Shipping Offloads Loss-Making Travel Unit

GE Shipping has finally sold its 63.64 per cent controlling stake in Routes Travel Ltd. However, it is learnt that a Delhi-based unlisted company, Air Travel Bureau, has bought over the loss-making subsidiary. Its business portfolio includes travel, leisure, cargo, travel insurance and as an authorised money-changer. It has offices in Mumbai, Gurgaon and Bangalore. GE Shipping had bought the controlling stake in the company - then called P&O Travel India - from P&O Cruises B.V. After acquisition, use of the P&O brand name was dropped and the name of Routes Travel Ltd formally took effect on July 19, 2005. However, P&O Group continued to maintain business relationship with Routes. P&O had offered to Routes, two luxury liner visits this year to Mumbai. During the financial year up to March 31, 2006, Routes recorded an operating profit of Rs 45.52 lakh, but reported a net loss of Rs 37.09 lakh.

KPIT Cummins To Mop Up $9 M

KPIT Cummins Infosystems Ltd, IT consulting organization, will mop up $9 million through issue of preferential shares and convertible warrants to private equity investor, Cargill Ventures. An amount of $4.5 million (Rs 20.25 crore) will be raised by KPIT Cummins through issue of preferential shares to Cargill Ventures. The company will also issue warrants to Cargill Ventures, convertible into shares of up to $4.5 million. Cargill Ventures is a venture capital arm of Cargill Inc, a privately held company with operations in 63 countries. The issue of preferential shares will be at a price determined in accordance with the Securities and Exchange Board of India (SEBI) regulations, said a release from the company. The warrants will be convertible into shares at the end of 18 months from the date of issue based on parameters fixed by SEBI.

IVRCL Infrastructures Gets Allotment Of 33 Acres Of Land From Noida For Residential Units

IVRCL Infrastructures & Projects Ltd has announced that the Company is successful in getting allotment of 133,750 square meters i.e., about 33 acres of land in Sector 118 of NEW OKHLA INDUSTRIAL DEVELOPMENT AUTHORITY (NOIDA) for Group Housing from NOIDA at a cost of Rs 2280 Million.The Company is planning construction of 2.9 million square feet of dwelling space spread over about 1800 units at an estimated construction cost of around Rs 8000 Million. The project would be funded through internal accruals and debt and the development is expected to begin by August 2007. The project is expected to generate revenues of about Rs 10.07 Billion over a period of three to four years.

ABG Shipyard - Launching Of Pollution Control Vessel Fro The Indian Coast Guard

ABG Shipyard Ltd has informed that the Company is launching a Pollution Control Vessel (PCV) for the Indian Coast Guard. The Company which has been mandated with building three pollution Control Vessels (PCV) by Indian Coast Guard, launched the first of the series yard 221. The vessel Samudra Prahari is being launched by Mrs. Thrity R Contractor, wife of Vice Admiral RF Contractor, Director General, Indian Coast Guard.The PCV, a dedicated oil spill recovery vessel, is the first of its kind to be built and owned in the Asia Pacific Region. It carries various kind of portable oil recovery equipment for different kind of spilled oil in addition to fixed equipment for recovery & separation of recovered oil. Vessels are Rolls Royce Marine Design and include major machinery supply also from Rolls Royce Marine. Construction is under the classification society DNV. When first vessel is completed and delivered in next six months, it will be among the largest vessel in the fleet with the Indian Coast Guard. Subsequent two vessels are to be completed and delivered thereafter with interval of six months each.

Coal India Plans To Commission Washeries In All New Mines

Coal India Ltd (CIL) has decided to compulsorily commission a washery in all new mines that would be opened up from now. At present, steel and cement manufacturers import the major chunk of their coal requirement because of the low heat content in coal supplied by Coal India. India has about11 per cent of the world''s coking coal deposits. However, because of the poor variety, Indian companies go for large-scale imports. Washing would significantly increase the UHV of Indian coal. CIL would be setting up these washeries with its own investment but their management would be given to private operators; regular inspection would be carried out by CIL''s quality control department. The washeries would be set up over 2-4 years. CIL has already issued guidelines to subsidiaries that a mandatory provision of a coal washery with modern technology has to be incorporated while preparing project reports for all opencast mines with annual capacity of 2.5 million tonnes. As of now, CIL subsidiaries run some washeries and a number of private washeries are also given the job. However, there have been several complaints on the functioning of these private washeries as the waste recovered often contains substantial heat value and this is eventually sold in the market, in violation of washing norms.

Praj Industries Secures Rs 65cr Belgium Contract

Pune: Praj Industries has gets Rs 65-crore contract for Phase Two of the wheat and beet-based bio-ethanol plant for Biowanze SA, a subsidiary of CropEnergies AG (a Sudzucker Group Company). The second phase involves supply of equipment for the core bio-ethanol process plant comprising liquefaction, fermentation, multi-pressure distillation, dehydration and vinasse evaporation. Phase one of the contract, rated at Rs 11 crore, included licence, basic engineering and other services for their proposed 3,00,000 cubic meters bio-ethanol complex at Wanze, Belgium. Europe was showing growth in ethanol plant installation. The company already has orders from British Sugar and Suedzucker group in Western Europe as well as from companies in Eastern Europe for technology and critical equipment.

ICICI Bank Keen On Entering Pension Funds Biz

Mumbai: ICICI Bank on March 15, said it was keen on entering into pension funds but was awaiting the passage of the long-pending Pension Fund Regulatory and Development Authority (PFRDA) bill. They are keen to foray the pension funds business and have already prepared a road map for it. Though the central government and 16 other states employees joining the service during the last two-three years have preferred for the new pension scheme, pension funds have not come into being due to the non-passage of the PFRDA bill, being opposed by key UPA ally, the Left parties.The government has made it clear that there will not be many pension funds but initially it is proposed to have around 6-8 funds of which at least one would be in the public sector.

West Bengal Revenues Up After VAT Implementation

As per expectations of the state finance minister and architect of the value-added tax (VAT) Asim Dasgupta, the West Bengal''s revenue collections got a boost in the post-VAT regime, which came into being in the state since April 1, 2005. West Bengal has generated 17% more revenue in 2006-07, the second year after VAT''s introduction in the state. Riding on an inherent buoyancy in the collection system, the state has mopped up Rs 3,175.39 crore from VAT in April-January in 2006-07, against Rs 2,717.14 crore in the corresponding period last year. Introduction of VAT appears to have come as a boon to the state ever since it was introduced here. Despite some teething trouble in bringing all registered dealers and manufacturers under the tax net, the state has realised Rs 3,665.3 crore from VAT in 2005-06, the first year of its implementation. With this, its total collections from VAT, sales tax and central sales tax has increased 7% to Rs 6,119 crore in the year, against Rs 5,721 crore in 2004-05. Mop up from VAT are expected to touch nearly Rs 5,000 crore by March 31, 2007 with tightening of its implementation in the second year, a senior state government official said. Currently, 550 items have been brought under the tax net in the line of recommendation of the empowered committee on VAT. This apart, sales tax at 17-50% are being imposed on a few items including Indian made foreign liquor, desi liquor, lottery tickets and motor spirit. However, there is one flip side to the VAT implementation in the state. Compared to the buoyancy in tax collection, as per the Act''s guidelines, refund of the tax to EOUs, SEZ units, other exporters and to domestic manufacturers against their excess payment on input tax are yet to begin in the state.

Infosys Technologies Plans Unveiling Finacle As Service Offering

Bangalore: Infosys Technologies Ltd is evaluating options to unveil its universal banking software ''Finacle'' as a service offering, which should help the company expand its market reach further. The company is eyeing at both the Application Service Provider (ASP) model and also the Software As A Service (SaaS) platform for unveiling Finacle as a service offering. Typically, smaller banks, which are wishing to give up their unique way of functioning and differentiation, prefer to adopt a standardised model such as an ASP. However, in an emerging scenario, even large banks are willing to run some standardised applications such as regulatory compliance and mortgage origination among others from an ASP, without compromising on their differentiated service offerings.Traditionally vendors such as Infosys and i-flex Solutions have been charging royalty revenues on a per account basis from global clients for their banking software products. Financial Information Network and Operations Pvt Ltd (FINO) expects to target 300-400 million people who do not have access to basic financial services.

Sonata Software To Offer Microsoft Dynamics CRM Tailored For The Information Technology Enabled Serv

Sonata Software Ltd on March 13, 2007 has announced the launch of SonnetlTeS, a solution built on Microsoft Dynamics CRM 3.0, Microsofts Customer Relationship Management (CRM) solution. Targeted at Information Technology Enabled Services (ITeS) and Business Process Outsourcing (BPO) Companies, this vertical framework has been custom-made to suit the requirements of the ITeS industry and is highly configurable to accommodate specific business and workflow requirements.SonnetlTes addresses the critical CRM needs in the service and sales & marketing areas. The solution empowers organizations by providing multi-channel customer interactions, intelligent call routing, automatic activity updating, interaction history tracking, service plan management, customer satisfaction tracking and portal integration. The solution also provides seamless interfaces with Computer Telephony Integration (CTI) service providers.The Companys deep domain expertise in the ITeS industry, together with the Microsoft Dynamics CRM Analytics Foundation add-on, data mining and work flow capabilities of the Microsoft technology stack, allowed it to deliver Key Performance Indicators and predictive analysis models to address the key challenges faced by the industry.With over 100 successful installations to its credit, the Company is a leader in ERP and CRM implementations and management, Business Intelligence (Data Warehousing and Business Scorecards), Portal Solutions, Application Development and Management, Application Integration and Infrastructure Management. The Company has been a Microsoft partner for 16 years.

Mastek & Deloitte End Joint Venture

Mastek Ltd has informed that the Company and Deloitte Consulting LLP, a subsidiary of Deloitte & Touche USA LLP, announced that Deloitte Consulting LLP had acquired the Companys interest in their joint venture. Under the terms of an agreement, the Company sold its entire equity interest in the joint venture, Mastek - DC Offshore Development Company Pvt Ltd, to affiliates of Deloitte Consulting LLP. The five-year-old joint venture was created to deliver a wide range of technology integration and related solutions for US clients of Deloitte Consulting. Around 500 professionals employed in Mumbai will remain employees of the existing entity.

Ranbaxy Laboratories - Dr Himadri Sen To Join Ranbaxy As President R&D

Ranbaxy Laboratories Ltd on March 11, 2007 has announced that Dr. Himadri Sen will be joining the Company as President - R&D (Generics & NDDS). Dr. Sen is widely regarded for his professional acumen and is a highly respected figure in the pharmaceutical industry with an illustrious and successful international career, spanning over three decades.

Aurobindo Receives US FDA Final Approval For Didanosine Oral Suspension

Aurobindo Pharma Ltd has announced that the US FDA has granted final approval for the Companys Didanosine Oral Suspension (Pediatric Powder) 10 mg / ml.This product is the first generic version of the research product, Videx Pediatric Powder for Oral Suspension, 10-mg/ml, manufactured by Bristol Myers Squibb Pharmaceuticals. The Company manufactures both API and formulation for this generic.The total number of ANDA approvals from US FDA stands at 38 which includes 22 final approvals and 16 tentative approvals.

Bank Of Baroda - Establishment Of Medium Term Note Programme (MTN) In Foreign Currency For Long Term

Bank of Baroda has informed that the Bank is in the process of establishing a Medium Term Note Programme up to USD 1.5 billion. Under the MTN Programme, the Bank will issue foreign currency bonds in International market from time to time depending upon its funds requirements through Banks London / Nassau or any other foreign branch. These bonds will be listed on Singapore Stock Exchange. The brief particulars are given below:1. The Bank would be issuing various senior / junior subordinated (inclusive of Upper Tier II and Hybrid Tier I bonds pursuant to RBI guidelines) / other debt instruments (Bonds) from time to time of medium / long term under the said programme. This is in terms of Banks endeavor to strengthen its Capital Adequacy Ratio (CAR) in the long run and also to meet its long term funding requirements.2. The Bank has appointed Barclays Capital, Citigroup and Deutsche Bank as Joint Lead Managers. The Bank has signed various documents for the establishment of the programme and also for engagement of the Lead Managers / other intermediaries for the said programme on March 07, 2007.

Ganesh Housing Board To Consider Scheme Of Amalgamation

Ganesh Housing Corporation Ltd has informed that a meeting of the Board of Directors of the Company will be held on March 15, 2007, to consider and approve the Scheme of Amalgamation of the Company with 5 companies mentioned hereunder:1. Nachiket Properties Pvt Ltd2. Manjari (Thaltej) Complex Pvt Ltd3. Shaharsh Infrastructure Pvt Ltd4. Ramasagar Infrastructure Pvt Ltd5. Ganesh Infrastructure Pvt Ltd

Tata Tele To Infuse Rs 3,500 Cr Next Fiscal

Tata Teleservices (TTSL) is mulling to put in Rs 3,500 crore in the next fiscal for expanding services across the country. The CDMA-based operator will also separate its cellular towers into a separate unit, which could be sold at a later stage. TTSL has applied for licences in Jammu and Kashmir, Assam and the rest of the North East. The company has been adding over half a million users every month. Along with subsidiary Tata Teleservices Maharashtra, TTSL has nearly 16 million users in India.

Victoria Mills Board To Consider Interim Dividend

Victoria Mills Ltd has informed that a meeting of the Board of Directors of the Company will be held on March 14, 2007, inter alia, to consider interim dividend for the year 2006-2007.

Micro Technologies LMTS Gets SYMBIAN Certification To Get In Global Markets

Micro Technologies India Ltd has informed that Micro LMTS (Lost Mobile Tracking System) the innovative product of the Company have successfully achieved Symbian Signed status. Symbian signed promotes best practice in designing applications to run on Symbian OS phones.The Company is a leading provider of security and life-support solutions to the global audience. The Companys products are globally recognized through its innovation, perfection and quality. Its range of Security products include Home Security Micro HSS, Vehicle Security Micro VBB; Unmanned location Security Micro IBB Intelligent Black Box etc would have good acceptability in the Global market.It has been now a very easy and cost-effective way to secure ones mobile and that too with an advance technology. This application works on a GSM Technology require GPRS activated SIM. This hidden software in the users mobile informs the user about the new SIM card number (that has been replaced by the original SIM), IMEI Number with the current location of the handset through an SMS alert along with an email to the provided add-on number.

Teledata Informatics - Order From Bihar Government

Teledata Informatics Ltd has informed that the Company has got an order on installation, maintenance of IT infrastructure and Computer education services in 1000 schools across rural and urban areas from the Bihar State Electronics Development Corporation Ltd. (A Government of Bihar Undertaking) in an efficient manner on Lease, Maintain and Transfer basis (LMT) for three years and the total value is Rs 73,65,29,630.

Tata''s Rs 1-lakh Car Likely To Feature With 600cc Petrol Engine

Some details about the specifications of the proposed Rs 1-lakh car from Tata Motors is finally out. The car, which is hoped to be the World''s cheapest, will be a four-door, four to five seater car that will sport a modern, monoform design. The car will feature a 600cc petrol engine, possibly India''s first, that will also be rear mounted for improved practicality and easy driveability. Instead of the much speculated plastic body panels and curtained windows, the car will feature metal body panels and glass windows that can be cranked up like in regular small cars. The Rs 1-lakh car will be unveiled by mid-2008 and while it will debut with a stripped down, base variant, it will also be unveiled later with higher trim variants that could sport features such as power steering, power windows and air-conditioning.

City Union Bank Eyes Second Round Of Funding

City Union Bank likely to go in for another round of funding, about Rs 400 crore, in the second half of next year. The bank, of late, got Rs 45 crore by giving a 9.99 per cent stake to L&T. According to the source, the funding would be to meet the long term targets the bank has set for itself, rather than to meeting any regulatory requirement. The bank is looking at achieving a total business of Rs 25,000 crore by 2010-11 (Rs 7,500 crore now), comprising Rs 15,000 crore of deposits and Rs 10,000 crore of advances. It wants its net worth to reach Rs 1,000 crore by that year (Rs 320 crore, now) and see its market capitalisation go up to Rs 2,500 crore (about Rs 350 crore). City Union Bank''s capital adequacy ratio was 12.69 per cent as of December. About two-thirds of its Rs 3,000-crore advances portfolio consists of loans under Rs 3 crore, which come under the head `retail loans''. Because the capital charge on retails loans is lower under Basel-II, City Union Bank''s capital adequacy ratio will increase by about 1.5 percentage points when Basel-II kicks in.

ICI India Completes Sale Of Its Shareholding In Quest International

With reference to the earlier announcement dated November 22, 2006, regarding ICI India to divest its shareholding in Quest India, ICI India Ltd has informed that following the fulfillment of necessary conditions precedent, the Company on March 02, 2007 has sold its 100% equity share holding in Quest International India Ltd to Givaudari (India) Pvt Ltd and has received a consideration of Rs 320 crores. The Company has also received an interim dividend of about Rs 31 crores prior to the said sale of shares. The Company is expected to receive a further consideration, of about Rs 35 crores for various agreed adjustments in the next quarter.

Bharti Airtel Lowers Entry Cost Of BlackBerry In India

Bharti Airtel Ltd has announced that the Company reinforced its commitment to drive affordability in the Indian telecom market by brining down the entry cost for its Prosumer users of BlackBerry.With effect from March 01, 2007, Airtel has reduced the fixed monthly rental for BlackBerry from Rs 1099/- per month to Rs 249 per month. In this new plan apart from the fixed monthly rental, Airtel BlackBerry users will be charged Rs 0.15/- per Kb of usage.

Forbes Gokak''s Savile Row To enter Into Women''s And Kids Wear

The Forbes Gokak-owned Savile Row will foray into the women''s and kids wear segments this year. Savile Row promises luxury clothing at affordable prices. Savile Row is all set to increase its presence in India. Forbes Gokak entered into a licencee agreement with Savile Row, London, in 2005 and has set up six company owned and 20 shop-in-shop stores across the country.