The Hindu Business Line : Friday, January 11, 2002

New IIMT campus for course in hospitality
THE Institute for International Management and Technology (IIMT) has forged a partnership with GGL Hotel & Resort - a wholly-owned subsidiary of Gujarat Ambuja Cement Ltd - Carlson Hospitality Worldwide, Edwardian Group (UK) and Unitech ... More

MERGERS & ACQUISITIONS

Zuari to buy out India Cements in Sri Vishnu
ZUARI Cement Ltd today said it would be acquiring the entire equity holding of India Cements Ltd and its associates in Sri Vishnu Cement Ltd for an enterprise value of Rs 385 crore. India Cements and its associates hold 95 per cent stake in Sri ... More

FIs open to divesting MRL stake in favour of Modis
IN a fresh twist to the ongoing tussle for management control of Modi Rubber Ltd (MRL), financial institutions (FIs) have decided to open negotiations with the Modis to offload their holdings in favour of the promoters. Top FI officials ... More

Qualcomm may invest $200 m in Reliance Comm
RELIANCE Communication Ltd and Qualcomm Inc, today formally announced that the latter "has committed to invest up to $200 million for a minority stake in the equity capital of RCL". This investment by Qualcomm, the CDMA (code division multiple ... More

Sugaronline.com changes hands
KOLKOTA: THE world's most sought-after sugar portal, the UK-based sugaronline.com of Commodity Systems Ltd, which was up for liquidation, has changed hands. It has been acquired by Milecourt Ltd, a UK-based private venture capital company, ... More

Tata Tea, Tetley integration process to start next month
TTL has the competence to develop instant products. It already supplies the ingredients for these to `Snapple,' which is the largest player in the ready-to-drink segment. More

UB to go in for buyback at South African beer co
UNITED Breweries Ltd will increase its stake in South Africa's traditional sorghum beer business, buying out public shareholders of United National Breweries (UNB). The buyback would give UB majority stake in UNB, which in turn would help the ... More

Nestle group ups stake in Indian arm to 53.27 pc
FOOD-major Nestle India Ltd has informed the Bombay Stock Exchange that the Nestle group has increased its stake in the Indian outfit to 53.27 per cent. The total shareholding of the Nestle group on June 2001 was 51.25 per cent of the equity ... More

CORPORATE GOVERNANCE

Secretarial standard on board meetings -- ICSI guidelines aimed at harmonisation
ICSI recommends that board meetings are held at least once in every three months, with a maximum interval of 120 days between any two meetings so that at least four meetings are held each year. More

REGULATORY BODIES & RULINGS

Default on filing mandatory papers -- DCA to prosecute listed cos first
FACED with the massive task of prosecuting about 1.27 lakh errant companies, the Department of Company Affairs (DCA) has decided to classify the companies into five categories to prioritise the initiation of prosecution proceedings. As per ... More

ALLIANCES & JOINT VENTURES

Special effects come to Bollywood
IF you raved about Hollywood thrillers like Men In Black, Independence Day and Godzilla, just look out for similar special effects fare from Bollywood soon. Compudyne Winfosys, the Bangalore-based Internet and multimedia ... More

After pizzas, Amul plans foray into sugar
THE Gujarat Cooperative Milk Marketing Federation (GCMMF - better known as Amul) is planning a foray into the branded sugar segment. The Rs 2,258.80-crore turnover cooperative dairy major is currently in talks with the National Federation of ... More

Sugartrade.com ties up with MDEX -- MoU to develop futures exchange
THE sugar industry's most visible Web site, sugartrade.com, promoted by the Mumbai-based e-commodities Ltd, has joined hands with Malaysia Derivatives Exchange Bhd (MDEX) for developing its sugar futures exchange. Last December, sugartrade.com ... More

Post-APM sword hangs over RPL-IOC deal
AS the Indian Oil Corporation (IOC) and Reliance Petroleum Ltd (RPL) discuss the terms of the marketing agreement signed two years ago, it may be in order to focus on the core issue at stake now. What exactly is the core point of dispute between ... More

Exult Inc deal with Hexaware, HCL
BANGALORE: In what probably might be the biggest deal so far in the IT outsourcing business, Exult Inc, a market leader in HR business process outsourcing has selected two providers, Hexaware and HCL Technologies as providers of ... More

Miditech planning TV soaps, family dramas
THE Balajis and the UTVs of the world watch out. Television software production company, Miditech, is also seriously planning to enter the hugely-popular television soaps and family dramas segment. Speaking to Business Line, Mr Niret ... More

OUTLOOK

Ranbaxy bullish on US subsidiaries
RANBAXY Laboratories Ltd (RLL) is optimistic that its robust pipeline of products would help its US subsidiaries clock a healthy sales growth of 30 to 35 per cent in this calendar year (January-December 2002). Mr Bimal K. Raizada, RLL's Senior ... More

PERFORMANCE

Ranbaxy: A dose of US
RANBAXY Laboratories Ltd, founded in 1961, had established its operations in the US in 1994 and launched its first prescription product, following FDA approvals in January 1998. In September 1995, Ohm Laboratories was acquired for the dual ... More

Maruti bid to push sales in N-E, East
THE eastern and the north-eastern regions will together account for around 15 per cent of the total Maruti vehicle sales in the domestic market during the year ending March 31, 2002. This would mark an improvement of about 1.5 per cent compared ... More

CESC feels the heat on power supply cut
THE RPG-controlled CESC is caught in a bind with the West Bengal State Electricity Board (WBSEB) and Damodar Valley Corporation (DVC) deciding to regulate their supplies to the company in a bid to recover their dues. Sources said that while DVC ... More

Allana Sons is top coffee exporter

Synergies-Dooray bags award

PEOPLE

Digital GlobalSoft gets new Chairman

ANNOUNCEMENTS

Nilekani crowned Infosys CEO -- Narayana Murthy is `Chief Mentor'
MR N.R. Narayana Murthy, one of the founders of Infosys Technologies Ltd, has decided to step down as the Chief Executive Officer, and pass on the baton to the co-founder and COO, Mr Nandan Nilekani. Donning the new cap of Chief Mentor, Mr ... More

Virgin Air plans flight consolidation in India
VIRGIN Atlantic Airways, which considers India as a market with huge potential, plans to consolidate the two flights that it is currently operating rather than seek an additional flight on the London-Delhi-London sector. "Virgin Atlantic is ... More

MTNL game to take on rivals
COMPETITION can indeed bring about miracles. Mahanagar Telephone Nigam Ltd (MTNL), the basic telecom service provider in Mumbai and Delhi, is finally shedding its public sector image to take on competition from Bharti Telenet, Reliance ... More

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Top Stories
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Nilekani crowned Infosys CEO -- Narayana Murthy is `Chief Mentor'

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In Depth
Inside Kashmir

Guide to derivatives

US-64

Looking back
Dec. 30-Jan. 5
LIC arm to buy GLFL Housing Fin portfolio

TCS gets Rs 200-cr order from United Utilities

Bharti to join the cellular brandwagon in Mumbai