Conde Nast list: Oberoi and Taj hotels amongst world's best
New Delhi: Udaipur's Oberoi Rajvilas and Mumbai's Taj Mahal hotel have made it to the world's best hotels' list compiled by the international travel magazine Conde Naste.

While the Taj Mahal hotel has been ranked sixteenth in the Conde Naste Traveller's first ever Gold List 2005 in terms of location, Udaipur's Oberoi Rajvilas has bagged the eighth place in terms of quality of services.

The magazine has praised Oberoi for its services, which, it says, are way ahead of other Indian hotels' and praised the Taj Mahal hotel for its "staggering view over the Arabian Sea, the Gateway of India and the city of Mumbai."
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Indoor Go Karting track launched
Hyderabad: Ocean Park Multitech Ltd, a Hyderabad-based entertainment company, which manages the innovative Snow Theme Park, has announced the launch of a new facility that provides for indoor Go Karting, which the company claimed would be one of the largest in Asia spread over a 40,000 sq ft area.

Designed and executed by the architect, Nilesh Roy, this facility is supported by one of the largest indoor dance floors, where a corporate can also book and host events.

The company has invested about Rs2.5 crore in the project.
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Neuland allots share warrants
Hyderabad: Neuland Laboratories Ltd, the city-based pharmaceutical company, has informed the stock exchanges that following clearances obtained from the shareholders at the extraordinary general meeting held on Friday, its board has allotted 2,74,986 warrants convertible into equity shares of Rs10 each at a premium of Rs238.20 to the promoters - Dr D.R. Rao and Sucheth & Saharsh Holdings Pvt Ltd.
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BHEL bags Rs.1,198 crore order from WBPDC
Madurai: The Bharat Heavy Electricals Ltd has secured an order from the West Bengal Power Development Corporation for setting up two units of 210 MW each at the Bakreswar thermal power station on a turnkey basis.

Valued at Rs1,198 crore, the project is being funded by the Japan Bank for International Cooperation. The existing three units at Bakreswar have also been earlier supplied and installed by the BHEL.
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S&N picks up 17.5 per cent stake in UB
Mumbai: Leading European Brewer, Scottish and Newcastle (S&N) is to become the strategic partner of United Breweries Ltd with an equity stake equal to that of promoter Vijay Mallya and his group, under a deal signed here on Sunday.

Announcing the deal that will cost S&N Rs940 crore, at a press conference, Mallya said both parties will hold equal shares not exceeding 37.5 per cent each in UBL - the largest beer maker in the country. S&N is currently the joint venture partner of UBL in Millennium Alcobev (MABL), the country's third largest brewer.

As part of the deal, the board of directors of UBL has decided to make a preferential allotment of about 38 lakh shares constituting 17.5 per cent of the paid-up equity capital of the company, to S&N at a price of Rs575 per share, aggregating Rs217 crore.

The Edinburgh-based S&N will make a public offer to acquire another 20 per cent at the same price of Rs575 per share. Post-open offer, S&N will hold 37.5 per cent in UBL whereas Mallya's stake will come down from 51 per cent to 37.5 per cent.

If the foreign company fails to get 20 per cent shares through the public offer, the company will issue warrants enabling it to shore up its stake at 37.5 per cent, Mallya said.

The European partner will also invest another Rs247 crore in UBL by way of a non-convertible redeemable preference shares with a coupon rate of 3 per cent.

Mallya would continue as Executive Chairman of UBL, with the right to nominate the Chief Executive Officer and the Managing Director. S&N would, in turn, have the right to appoint the Chief Financial Officer. The nine-member board will also have three independent directors.
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New marble brand from SVIL Mines
New Delhi: SVIL Mines Ltd has launched its latest marble brand - Texefx - marbles. The company has also invested Rs180 crore towards acquiring exclusive rights for integrated mining and processing technology for marble manufacturing. The company has signed an MoU with GEO S.p.A. of Italy for using this technology at their mines in Madhya Pradesh for sixteen years, according to a company release.

The rights have been granted exclusively for the South East Asian region.
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