Around 4,000 employees are looking forward to a chance to get their jobs back at the JK Cotton mill in Kanpur, which closed 20 year ago and will re-open on Monday. The JK Group officials informed that most probably, the mill, which will re-open on Monday, will start functioning in full-swing in the next three months, since it needs to go under several repairs prior to it.

The mill was shut down by the management in May 1989, when a strike was announced by the workers, the closing down led to loss of jobs for around 4,000 workers.

An open offer was made by Daiichi Sankyo to Zenotech Laboratories' shareholders at Rs 113.62 per share. This comes after it revised its earlier open offer price of Rs 160 per share.

Jayaram Chigrupati, MD, Zenotech Laboratories reacted to the development, "The agreement on open offer price was reached in July 2008. The agreed price was reached after shareholders filed a case post the Ranbaxy-Daiichi deal. The suit was withdrawn after Daiichi agreed to open offer price of Rs 160 per share."

Due to the non-payment of overdue amount of Rs 8.05 crore, a lender bank has taken possession of assets of Jagran Prakashan Private Ltd, publisher of Indore edition of leading Hindi newspaper, Dainik Jagran.

During the last month alone, the company’s stock lost nearly 20 per cent.

The assets of the company were taken by the bank on January 14 under Section 13 of Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002.

New Delhi - Bahrain Telecommunications Company Batelco has signed a deal to buy 49 per cent in Indian mobile telephone operator S-Tel for 225 million dollars, news reports said Monday.

Batelco partnered with Millennium Private Equity, a Dubai Financial Services firm, to purchase the shares in S-Tel, the Times of India daily reported.

S-tel director Santosh Robert told the newspaper the deal would enable his Chennai-based company to partner with an experienced operator for the new GSM rollout scheduled mid-2009.

With the intention to revivify and expand the agro-based industries in Bihar, state-run Hindustan Petroleum Corporation Limited (HPCL) has signed a memorandum of understanding (MoU) with the Bihar State Sugar Corporation Ltd and Bihar government.

The MoU was signed to take over sugar mills situated at Sugauli and Lauriya in East and West Champaran for 60 years lease (that could be extended for another 30 years).

Infrastructure conglomerate Jaiprakash Associates Ltd (JAL) has announced the results for the three month period ended December 31, 2008.

The flagship of Jaypee Group has posted a growth of six per cent (6%) in profit after tax (PAT) for the three month period, which stood at Rs 165.51 crore from Rs 155.8 crore the previous year.

There was an increase by 44.49 per cent to Rs 1,447.12 crore from Rs 1,001.57 crore the previous year in the total inclone of the company for the quarter.