IOC to mop up another Rs 500 cr through bond float
Indian Oil Corporation (IOC) will mop up Rs 500 crore through the bond market to take the total resource mobilisation through this route to Rs 1,000 crore in the current financial year.

Sundaram Fasteners to pick up 51% stake in Autolec
Sundaram Fasteners Ltd (SFL), the blue-chip subsidiary of the TVS group, is acquiring 51% stake in the Chennai-based Autolec Industries Ltd, which manufactures water, oil and fuel pumps, as also other auto components.

Siemens sheds its rationalisation focus, to stress on redeployment
Four voluntary retirement schemes--floated over the last three years--and slashing flab by 2000 employees, Siemens managing director Jurgen Shubert has changed his tack: the focus is now on redeployment and not rationlisation.

  Briefing
  Icra downgrades promoter IFCI ratings
  SMZS Chemicals in talks with ICI to sell specialty plant assets
  ONGC's procurement plans keep seamless tube-makers hopes alive
  IBM to buy out Tata stake in ventures
  SBI earmarks Rs 2000 cr for fixed-rate disbursements
  Bausch & Lomb discounting improves
  Burn Standard scours for orders, new bankers
  Bausch and Lomb to spin off local vision, eye-care business
  Elektro Holding to trim stake in NGEF to 9.72%
  Jindal Vijayanagar Steel net loss at Rs 28.14 cr
  Chordia Food Products net jumps 32% to Rs 1.65 crore
  Cable & Wireless raises IDC bid, topping NTT
  Tata Tea targets higher Agni sales in bid to up packet segment share
  Reliance hikes polymer, polyester prices
  StanChart unveils electronic banking
  BASF net up 7% to Rs 18 cr
  Priyadarshini Cement net falls to Rs 6.44 cr
  Delhi allows registration of Euro-1 compliant Zen, Opel, Siena models
  FIs tag stiff riders to Essar FRN bailout
  Piaggio terminates venture with LML, moves CLB
  Freeze on FII entry in Satyam Computers
  CVD Discs setting up Rs 22-crore base in Hyderabad
  Informatics plans 75 edutech centres in India
  Aptech to introduce short module courses for E-commerce
  Hudco approves Rs 1,500-crore loan to AP
  CCL starts cost reduction, curbs overtime
  Petroliam Nasional explores possible mergers
  Corporate Briefing
  World Cup fever helps Aiwa notch up higher TV sales