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Mumbai, 4th March 2010 – Mannheim – Effective January 1, 2010, Philipp Junge was appointed head of the Lubricant Oil Additives Division of Rhein Chemie Rheinau GmbH, Mannheim, Germany. He succeeds Dr. Joachim Korff, who will shortly retire. In this position, Mr. Junge is responsible for the division’s global activities. Previously he was head of [...]
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BHP Billiton, the world's top coking coal producer, has signed a coking coal deal with Indian steelmakers at $200 per tonne, up 55% from last year's prices.Last year's benchmark prices were $129 per tonne and were yearly contracts. However, the latest deal is signed only for the first quarter ending June 30, 2010."The company has reached agreement with a range of customers throughout Europe, China, India and Japan," BHP said in a statement.The price increase ...
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The Infrastructure Leasing and Financial Services Transportation Networks Ltd (ITNL) that announced its initial public offering (IPO) on Monday, has priced the offering between Rs 242-Rs 258 per share. The offer is open from March 11 to March 15, 2010.It is looking to raise Rs 700 crore through the IPO. There will be an equity dilution of 12.57% at the lower end of the price band and 11.67% at the upper end. Rs 530 crore from the IPO has been allocated towards retiring debt. Trinity Cap...
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DLF Ltd, the largest real estate developer in the country, may miss its annual residential sales volume outlook as it moves to launch projects in its non-stronghold regions, according to two analysts covering the company.The developer was looking to sell 16 million square feet of residential properties in the fiscal 2010, and by December it was able to sell just 8.5 million sq ft of properties. Now, with just a month left for the fiscal, analysts believe DLF would not be able to meet its...
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Lupin Ltd, the Mumbai-based drugmaker, is looking at garnering about $150 million from oral contraceptives (OCs) in the US as it sees huge potential in the underserved market, a source familiar with the development said. The OC market in the US is valued at around $4 billion and is growing at 10% annually. According to the source, Lupin would launch a product in this vertical in 2010 and by the third quarter of the next fiscal it is looking to mop up at least $150 million in sales. Lupin...
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The stack war is reaching a crescendo. Tech giants like HP, Oracle (Sun buyout), IBM, Intel and Dell are readying a robust server line-up that will not only crunch more data but even reduce rack space drastically. Now, IBM has moved up the bar in the $18 billion UNIX-based server market by launching its Power7 servers to deal with data complexities. The Big Blue, with its Power7 systems which have an aggregate capacity to take five-fold extra workload, is betting big on telecom, BFSI sec...
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Larsen & Toubro plans to have a power generation capacity of 5,000 mw by 2015, said senior executive vice-president A K Chhatwani here on Monday.All the capacity will be coal-based and would come up at a cost of Rs 30,000 crore. R Shankar Raman, senior vice-president, finance, said all the projects would have a debt-equity ratio of 80:20.L&T bagged its first power generation project worth about Rs 9,000 crore at Rajpura in Punjab in November. "We have invested about Rs 500 cror...
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German carmaker DaimlerChrysler AG is selling its 5.34% stake in Tata Motors through an open-market sale.The shares, numbering about 2.55 crore, are being offered in a price-band of Rs 737.40-761.30 apiece, a discount of 4-7% on the stock's Monday close of Rs 796.75, said a source familiar with the development.At that price, Daimler could raise $428 million or Rs 1950 crore. Citigroup is the investment banker handling the sale.An official from Citigroup, who did not wish to be n...
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Public sector banks are in the process of planning their capital requirements for the next financial year to meet their expansion plans. Bank of Baroda and Bank of India are planning to raise Rs 2,000 crore each, while Corporation Bank is targeting Rs 1,500 crore in the coming fiscal.The expansion plans will be triggered by strong economic growth, rise in industrial production, fresh capex and an improvement in consumer confidence levels."The capital raised will be towards Tier-I an...
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Cloud services, or software⁄hardware services delivered remotely through the Internet, may be to Indian information technology companies what outsourcing was to the US IT industry, an official of Microsoft, the world's largest software company, said.The company, which on Monday announced it was opening up its four-month-old cloud platform in India to third-party developers, said such services are likely to force Indian IT professionals to 'upscale' much as their US counterpart...
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