Financial Daily from THE HINDU group of publications
Tuesday, February 19, 2002
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Financial Daily from THE HINDU group of publications Tuesday, February 19, 2002 |
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CORPORATE ANNOUNCEMENTS MRF sold 79.49 lakh units of US-64 for Rs 10.3 cr last year MRF Ltd sold 79.49 lakh units of US-64 for Rs 10.30 crore last year, according to the company's annual report for 2000-01. The units sold represent 74 per cent of MRF's investments in US-64 at the beginning of the year (October 2000-September ... More
ACCOUNTING STANDARDS Accounting profession may have independent regulator THE Finance Ministry has written to the Department of Company Affairs (DCA) to consider a proposal for ensuring an independent regulatory framework to oversee the functioning of the accounting profession, according to senior Government ... More PREFERENTIAL ALLOTMENTS Granules promoters to consolidate holding THE core promoters of Granules India Ltd (GIL), the Hyderabad-based Rs 62-core pharma company specialising in granulation, are set to consolidate their equity holding in the company through preferential offer. While this move would enable the ... More OPEN OFFERS Cadbury parent open offer to close on Feb 22 CADBURY Schweppes Plc's open offer for the public shareholding of Cadbury India Ltd at a price of Rs 500 per share will close on February 22. Cadbury Schweppes has decided not to revise the offer price of Rs 500 per share. The last date for ... More CORPORATE DISPUTES Demand for fixed charges by Tanir Bavi power project -- KERC, Govt on collision course KPTCL, which had estimated the financial outgo for power purchases from TBPCL at the rate of 2.8 cents, subsequently raised it to four cents a unit in the revised application. This effectively means that on an investment of Rs 900 crore, the cumulati ve return would be to the extent of Rs 2,503 crore or a return on equity of at least 65 per cent per annum. More OVERSEAS BORROWINGS Neuland Labs plans $50-m ADS issue NEULAND Laboratories Ltd (NLL), the Hyderabad-based Rs 87-crore producer of active pharmaceutical ingredients (APIs), has chalked out detailed growth plan for the next three financial years. This involves retiring in full the long-term debt of ... More RESTRUCTURING Nod for HLL move to sell seeds unit SHAREHOLDERS of Hindustan Lever Ltd have approved the disposal of the company's seeds undertaking to its subsidiary Paras Extra Growth Seeds Ltd by 99.56 per cent. There were 129.87 crore votes in favour of the resolution and 0.56 crore shares ... More MERGERS & ACQUISITIONS Zee to acquire 57% stake in ETC ZEE Telefilms Ltd (ZTL) on Monday announced that it planned to acquire in two parts a 57-per cent equity stake in ETC Networks Ltd for a consideration of Rs 25 crore. Initially, it will acquire 48.4 per cent of the existing share capital of the ... More NEW PROJECTS AirTel coverage in 8 more circles by May BHARTI Cellular Ltd proposes to launch its cellular services under the brandname AirTel in eight additional circles across the country on the General Packet Radio Service (GPRS) platform by mid-May 2002. This is expected to make it the largest ... More REGULATORY BODIES & RULINGS DCA tightens norms on loans to directors The quantum of loan, along with other loans taken if any, should not exceed 25 times of the gross salary drawn in the six months before the application. More
Ranbaxy gets FDA approval for drug ALLIANCES & JOINT VENTURES Chacha Chaudhary now on TV Toonz Animation India (TAI) has tied up with New Delhi-based Pran's Features, the copyright owners of the comic character. As per the agreement, Toonz will develop an animated TV show based on the character. Full-fledged production of this series ... More
Shri Adhikari in pact with UK channel INTERVIEW 
`We will tap Sundaram brand to the hilt': Mr T.P. Raman, MD, Sundaram Newton MFLAST week's developments marked the end of one of the oldest joint ventures in the mutual funds sector, Sundaram Newton. The Sundaram Finance group announced its decision to buyout Newton's 39 per cent holding in the asset management company. ... More DIVERSIFICATION ABB sets up R&D centre in Bangalore ABB on Monday announced the setting up of a research and development (R&D) centre in Bangalore to focus on software development and industrial information technology. The R&D centre, expected to have a core team of about 30 to 50 ... More SICK UNITS `Tatas not keen to buy Daewoo unit' THE beleaguered car-maker Daewoo Motors India Ltd is learnt to have offered its defunct engine, transmission and axle plant to Tata Engineering, according to top company officials of both car-makers. Tata Engineering is understood to have ... More
Tatas say no to Daewoo plant PERFORMANCE `Mini-ratna' status for BEL BHARAT Electronics Ltd has become the first defence PSU to acquire the operational status of mini ratna category-1, according to a company press release here. The Union Government grants autonomy and delegation of power to consistently ... More PEOPLE 
The driving force behind Bharti groupMR Sunil Bharti Mittal did not need the $171 million his company raised in February in the country's first initial share sale by a non-state-owned mobile phone company. What he needed was prestige. It was not just to bolster the pride of a man ... More
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Top Stories In Depth Inside Kashmir Guide to derivatives US-64 Looking back Feb. 10-Feb. 16 ChrysCapital buys 5 pc stake in NIIT -- Seeks FIPB nod for 10 pc more Schreiber to acquire 11 pc Britannia stake in Dynamix Open offers up despite fewer M&A deals Rashtriya Chem eyes 74% stake in SAIL unit RBI approves ADR/GDR re-issue VSNL enters Tata family Pechiney may bid for Nalco control Paradeep sold for Rs 151.7 cr TVS signs Sachin as brand ambassador |
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