The Hindu Business Line : Wednesday, February 13, 2002

Ownership change does not impact business: Philips MD
A CHANGE in a company's ownership structure does not impact its business, Mr K. Ramachandran, Managing Director, Philips India Ltd (PIL), said on the sidelines of Tuesday's press briefing, when asked if a post-open offer blue print was there for ... More

Tata Steel to export under brand name
TATA Steel is planning to export its products under its brand name to neighbouring countries. Sources told Business Line that Tisco, which exports its products all over the world, would restrict the branding exercise only to the ... More

BUYBACK

MICO concludes buyback
MOTOR Industries Company Ltd (MICO) has concluded its third buyback programme for a total outlay of Rs 50 crore to buy back 200,000 equity shares representing 5.87 per cent of the Company's paid-up share capital. With this Robert Bosch equity ... More

CORPORATE BONDS

KRCL asked to issue deep discount bonds
THE Infrastructure Development Finance Corporation (IDFC), appointed by the Finance Ministry to work out a debt-recast plan for Konkan Railway Corporation Ltd (KRCL), has suggested issuance of deep discount bonds by the Corporation, according to ... More

RESTRUCTURING

AOL-Time Warner to revamp local biz
The proposed Indian company will undertake wholesale trading of educational, music and video products through mandatory bonded warehouse sales. More

Leela Venture to sell Goa unit
HOTEL Leela Venture's board has decided to dispose of the hotel's unit — Leela Palace Goa— situated at Salcete, Goa. The unit will be disposed of as a going concern, directly or through a subsidiary company by way of sale of ... More

MERGERS & ACQUISITIONS

Open offers up despite fewer M&A deals
DESPITE the number of merger and acquisition deals coming down this fiscal, the number of open offers in the markets was high at 78, amounting to Rs 2,406 crore in the last 10 months (April 2001-January 2002). In comparison, during the ... More

Rashtriya Chem eyes 74% stake in SAIL unit
FERTILISER major Rashtriya Chemicals and Fertilisers (RCF) plans to buy 74 per cent stake in Steel Authority of India's Rourkela Fertiliser Plant (RKFP). "We have completed due diligence of the plant and are in final stages of negotiations ... More

New IBP board on Feb 19
IBP & Co Ltd, now in the process of becoming a subsidiary of Indian Oil Corporation (IOC), will have a new board on February 19. The new board will hold its first meeting here the same day. The size of the new board, being finalised, will be ... More

CORPORATE GOVERNANCE

ICSI redefines directors' responsibilities
THE Institute of Company Secretaries of India (ICSI) has proposed to take up the cause of directors' responsibility in a big way. It has sought co-operation from the Department of Company Affairs to drive home its point. The institute has drawn ... More

TRADE & LABOUR UNIONS

BPCL workers call off strike
EMPLOYEES of Bharat Petroleum Corporation Ltd (BPCL) on Monday called off their strike scheduled for Tuesday and Wednesday. The employees, who had been agitating for higher salary and other benefits, have postponed the strike to a later date. ... More

ALLIANCES & JOINT VENTURES

TNPL-Voith deal for metered size press
TAMIL NADU Newsprint and Papers Ltd (TNPL) has concluded a contract with Voith Paper of Germany to supply and install a speed flow online metered size press on its paper machine I. The capital cost of the new system is Rs 25 crore, according to a ... More

Gujarat Positra inks deal for water project
GUJARAT Positra Port Company Ltd (GPPCL), which is setting up the Rs 5,652-crore Special Economic Zone at Positra, has inked an agreement with Woest Alpine, Austria, for the execution of a Rs 700-crore water engineering and distribution project. ... More

INTERVIEW

Dabur upbeat on growth strategy
DABUR has completed its restructuring started about two years ago and has exited non-core businesses. With major plans to tap the southern market, to revitalise distribution and to take the Dabur brand beyond the Indian shores, Dabur's Chairman, ... More

RIGHTS ISSUES

Govt, Suzuki discuss Maruti rights issue
ANOTHER big-ticket disinvestment appears to be around the corner with the Union Government initiating on Tuesday talks with the representatives of Suzuki Motor Corporation (SMC) for part-offloading its holding in Maruti Udyog Ltd through a Rs ... More

OUTLOOK

Godrej & Boyce's SED unit plans to double turnover
THE security equipment division (SED) of Godrej & Boyce Manufacturing Co Ltd, plans to double its turnover over the next four years. Currently, SED — which completed 100 years of operations — has a turnover of Rs 100 crore, with a ... More

Scoreboard
SE Diary

Comments & Letters to the Editor to: bleditor@thehindu.co.in

Top Stories
PPL to set norms for sick PSUs

Rashtriya Chem eyes 74% stake in SAIL unit

Softwares cos see downtrend in staff costs

IA hikes fares on most sectors

Rice exports gain pace -- Indonesia to buy one million tonnes

Open offers up despite fewer M&A deals

Industrial growth hits fiscal year low of 1.6% in Dec

Motor risk premiums to go up from April

In Depth
Inside Kashmir

Guide to derivatives