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Updated: Dec 19 2012, 09:27am hrs
Honeywell Automation promoter offloads 6.24%

Industrial solutions provider Honeywell Automation India on Tuesday said its promoter Honeywell Asia Pacific has sold 6.24% stake in the company for an estimated Rs 130 crore. In a filing to the BSE, the company said Honeywell Asia Pacific has offloaded 5,51,333 equity shares on December 14 according to Sebis directive to bring down promoters holding to 75%. Post this transaction, Honeywell Asia Pacifics stake in the Honeywell Automation India will come down to 75% from 81.24%, it added.

Apollo to invest Rs 400 cr in 10 cancer, heart hospitals

Healthcare major Apollo Hospitals on Tuesday said it will invest R400 crore to set up 10 specialised hospitals in India by 2015 for treatment of heart diseases and cancer. We will set up ten specialised hospitals at an investment of R40 crore per hospital. These hospitals will be operational by 2015, Apollo Hospitals Group chairman Prathap Reddy said. Out of the total, five will be focused on treatment of heart diseases and the other five on cancer treatment. These will be in addition to the groups plans of adding 2,000 beds.

S Koreas Doosan Heavy wins $560-m order in India

Doosan Heavy Industries & Construction said on Tuesday it won a 600 billion won order from NTPC to provide two boilers for use at a power plant in Chhattisgarh, India. The South Korean company said in a press release it plans to supply the boilers by 2016.

Renault India to hike prices from January

Renault India on Tuesday announced a price increase across its range of products. The price increase will be up to 1.5% across the range and will be effective from January. Renault sells five models in India starting with the premium hatchback Pulse, mid-size sedan Scala, the popular SUV Duster, premium sedan Fluence and the top-of-the-line SUV Koleos. Sumit Sawhney, executive director, sales & marketing, said, We have to follow suit with the rest of the industry as input costs have gone up tremendously.

eBay ropes in Yahoo! honcho to head centre

eBay has appointed Ramkumar Narayanan as general manager to head the eBay product development centre. He will be responsible for focussing on data driven product innovation supporting eBay across multiple platforms. Prior to eBay, he was holding the position of vice-president of global management in Yahoo!, where he led the product strategy and management across its software development centre in Bangalore. During his tenure at Yahoo!, he led a number of global product teams including search, commerce, advertising, small business and emerging markets with primary focus on India and West Asia. Before his Yahoo! stint, Ramkumar had served in many capacities at Microsoft office in India and US.

R Singh to drive GM Indias sales

General Motors India on Tuesday announced the appointment of Rajesh Singh, an ex honcho of Maruti Suzuki, as the new vice-president (sales, marketing & after sales), with effect from January 1. Singh will be responsible for the complete vehicle sales, servicing and marketing function of GM India. He will be based at Gurgaon and will report to Lowell Paddock, president & managing director of GM India. Singh brings with him over 20 years of experience in this field.

FC10 becomes TIIs wholly-owned subsidiary

Tube Investments of India has informed the stock exchanges on Tuesday that the company has on December 17 acquired 51,208 shares of its overseas subsidiary Financiere C10 SAS, France (FC10) from the existing shareholders, representing 22.87% of FC10s share capital. FC10 is the holding company of Sedis SAS & Societe de Commercialisation de Composants Industriels, both in France and Sedis Company, UK. With this acquisition, FC10 has become a wholly-owned subsidiary of the company.

Tata Chemicals gets sustainability label

Tata Chemicals, the second largest soda ash player in the world and manufacturer of chemicals, fertiliser & food additives, has been awarded the Sustainable Plus, the worlds first Corporate Sustainability Label, by CII. R Mukundan, MD, Tata Chemicals, said, The roots of being sustainable and contributing to social needs are embedded in our value system, which is also validated by our mission Serving Society through Science. Sustainable Plus is a brand identity created by CII-ITC centre of excellence for sustainable development.

German co buys Indian plastic container maker

Germanys Gerresheimer has acquired Triveni Polymers, an Indian maker of plastic containers for the pharma industry, to expand its footprint in the country. Trivenis product portfolio complements with Gerresheimers plastic packaging range. Gerresheimer makes specialty glass and plastic packaging products for the global pharma industry.