Financial Daily from THE HINDU group of publications
Wednesday, March 20, 2002
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ANNOUNCEMENTS


Reliance hikes polymer prices
RELIANCE Industries Ltd has increased polymer prices by Rs 2 per kg effective March 18. Polyethylene costs Rs 41 per kg as against Rs 39 on March 1. Polypropylene is at Rs 41.25 per kg (Rs 39.25) while polyvinyl chloride is at Rs 38.05 per kg ... More

Alfa Laval arm to make butterfly valves soon
CRANE Process Flow Technologies, formerly the industrial flow division of Alfa Laval AB, Sweden, is introducing into the domestic market high-performance, 100 per cent indigenised butterfly valves used in petrochemical and steam applications. The ... More

PREFERENTIAL ALLOTMENTS


Pref allotment: JIL EGM on March 21
JAIPRAKASH Industries Ltd (JIL) has convened an extraordinary general meeting of its shareholders on March 21 to seek approval for a preferential allotment of 1,18,34,560 equity shares to Jaypee Ventures at Rs 35.85 per share. Simultaneously, ... More

CORPORATE DISPUTES


Ban on Bajoria unjustified: SAT
THE Securities Appellate Tribunal (SAT) on Tuesday said that a SEBI order debarring the Kolkata-based businessman, Mr Arun Kumar Bajoria, from accessing the capital market and dealing in securities was unjustified. The capital market regulator ... More

CORPORATE BONDS


Krishna Bhagya bonds issue for Rs 350 cr
KRISHNA Bhagya Jala Nigam Ltd (KBJNL) is entering the capital market with a public issue of secured redeemable non-convertible bonds in the nature of debentures of Rs 5,000 each aggregating Rs 350 crore for cash at par. The bond is at an ... More

RESTRUCTURING


3 Aurobindo Pharma directors step down
IN a restructuring exercise, three Directors of the board of Aurobindo Pharma have stepped down. The move is in keeping with the company's efforts to comply with the corporate governance norms pertaining to the composition of the board. Mr ... More

MERGERS & ACQUISITIONS


Consolidation among MFs: Time to tread cautiously
WITH both the Pioneer Group and ITI set to sell their respective equity stakes in Pioneer ITI AMC to Templeton, the wheel appears to have turned full circle for foreign investment management companies testing the waters in India. Several of ... More

Bharti picks up Telia stake for $60 m
BHARTI Tele-Ventures Ltd (BTVL) has signed a memorandum of understanding with Telia to buy its 26 per cent stake in Bharti Mobile Ltd, a subsidiary company, which offers cellular services in Karnataka, Andhra Pradesh and Punjab. According to an ... More

Templeton, 2nd largest
THE takeover of the assets of Pioneer ITI AMC by Templeton Asset Management makes the latter the second largest mutual fund in India after the Unit Trust of India. After the takeover of Pioneer ITI's funds, the Templeton-Pioneer ITI combine would ... More

Brindavan open to picking up stake in Coca-Cola
BAREILLY: BRINDAVAN Beverages is open to picking up stake in Coca-Cola India through the IPO route, Mr S.N. Ladhani, Managing Director, Brindavan Beverages, said. "We will decide at the appropriate time, keeping in mind a number of issues ... More

NEW PROJECTS


NextLinx plans to invest $10 m in Indian operations
THE US-based NextLinx Corporation, the global trade management solutions provider is planning to invest $10 million in the next 18 months in expanding the operations of its Indian subsidiary NextLinx India. The company expects to move its ... More

Brindavan Beverages invests Rs 6.5 cr in new PET line
BRINDAVAN Beverages Ltd, the fastest growing bottler of soft drinks major Coca-Cola India (CCI), has invested Rs 6.5 crore in a new PET bottling line at its existing plant in Bareilly, Uttar Pradesh. A total of Rs 65 crore has been invested in ... More

REGULATORY BODIES & RULINGS


FDA clearance for Ranbaxy's Midazolam syrup
RANBAXY Pharmaceuticals Inc (RPI) has received US-FDA approval to market its Midazolam Hydrochloride syrup. The syrup is indicated for use in paediatric patients for sedation, anxiolysis and amnesia in a monitored environment. The approval was ... More

ALLIANCES & JOINT VENTURES


3 Taiwan cos plan Rs 876-cr display tube unit in Rajasthan
Bridge Information, Access Technology and Winny Electron Enterprise will invest Rs 356.6 crore for 100-per cent equity participation in the Rs 876-crore project. More

SWC pact with New India Breweries
THE Rs 1,300-crore alcoholic beverages company, Shaw Wallace & Company, has inked a joint venture project as well as entered into a lease arrangement for additional capacity to cater to the growing demand across markets. The Memorandum of ... More

Tata SSL scouting for more global tie-ups
TATA SSL Ltd, which has a tie-up with a Hungarian company to manufacture 15,000 tonnes of steel wire for export to the European market, is currently examining the scope for more such alliances. The country's largest producer of steel wires, ... More

INTERVIEW


`Ador Powertron has no immediate plans for IPO'
The company is expecting to notch a turnover of around Rs 18 crore by March 2002 and the profit before tax is expected to be anywhere between five and eight per cent of the turnover. More

EVENTS


`Keep to the core to sustain success'
THE Chairman of the Organisational Behaviour Unit and Professor, Business Administration, Harvard Business School, Prof Nitin Nohria, has identified four fundamental practices that leading corporates must follow in order to sustain success. In ... More

SICK UNITS


BIFR to hear Jessop on April 30
If approved, this would perhaps be the first case of a revival scheme being cleared by BIFR which involves change of management of a sick PSUthrough the induction of a strategic partner identified by the Government through competitive bidding. More

Revised plan for Trayons revival
THE prospective promoters of Travancore Rayons Ltd (Trayons) at Perumbavoor have handed over to the Kerala Government their revised proposals involving a total investment of Rs 2,000 crore in two phases for reviving the ailing company. In the ... More

OUTLOOK


HPL eyes Rs 2,500-cr turnover
WITH improved global polymer market conditions, Haldia Petrochemicals Ltd (HPL) expects to achieve an annual turnover of Rs 2,500 crore this fiscal — its first year of commercial production. A HPL release issued today said that sales were ... More

Cooper Bussman bullish on exports
COOPER Bussman India Pvt Ltd, which produces a variety of fuses, expects its export business to grow to Rs 24 crore in the calendar year 2002, from Rs 18 crore last year. This will be possible mainly because of increasing confidence of the ... More

PERFORMANCE


Aventis CropScience sales up 95%
MUMBAI: Aventis CropScience has achieved sales of Rs 466 crore for 2001, which is higher by 95 per cent over the previous year. "Growth came from the range of insecticides on account of good season in the Northern and Western markets, a ... More

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    PEOPLE


    Business Ethics award for N. Ram
    XLRI Jamshedpur's J.R.D. Tata award for Business Ethics will be conferred on Mr N. Ram, Editor of Business Line, Frontline and The Sportstar, according to a press release from the institute. Mr Ram, who has been in the ... More

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  • Top Stories
    `Gold can become reliable investment gizmo'


    Consolidation among MFs: Time to tread cautiously

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    Here's a surprise: Pay sites are paying off!

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    In Depth
    Inside Kashmir
    Guide to derivatives
    US-64
    Looking back
    Mar. 10-Mar. 16
    Interim dividend revocation: The debate continues

    Dividend tax stays: Sinha

    Foreign cos face tough action on tax defaults -- Assets abroad targeted for recovery of dues

    MTNL may take stake in Sri Lanka Telecom

    Mauritius company to buy Hind Lever seed business

    Britannia gets nod for hiving off dairy business


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