Financial Daily from THE HINDU group of publications
Friday, March 22, 2002
Markets (March 21)
BL 2501122.70 (-7.07)
BSE Sensex3536.26 (-45.06)
S&P CNX Nifty1144.20 (-11.40)
Dollar (Buy/Sell)48.71/48.84
Gold Std (10 gm)4870 (-20)

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Honda Siel to pump in Rs 200 cr in 3 years
HONDA Siel Cars India Ltd intends to invest Rs 200 crore in upgrading its models in the next three years as part of efforts to consolidate its presence in the premium car segment, a top company official said on Thursday. Mr Teruo Fujisaki, the ... More

  • IBP EGM on April 12

    PRIVATE PLACEMENT


    Ancent to raise Rs 50 lakh thru private placement
    AN extraordinary general meeting of Ancent Software International Ltd, held on Thursday decided to issue five lakh equity shares of Rs10 each on private placement basis to ensure that only investors who are really interested in the company came ... More

    CORPORATE DISPUTES


    Calcutta Telephones seeks damages from Reliance
    "We cannot allow our consumers to suffer with damaged lines on account of Reliance.'' More

    COURTS/LEGAL ISSUES


    Restraint against joining proceedings in US -- Dabhol lenders get HC reprieve
    IN the legal tussle for home turf, Indian lenders to Enron's Dabhol Power Company (DPC) have wrested round one with the Mumbai High Court today restraining DPC, in an ad interim order, from joining bankruptcy proceedings in the US. A single ... More

    CORPORATE BONDS


    MCH bond float receives good response
    THE Hyderabad City Development Bonds 2002, which were floated by the Municipal Corporation of Hyderabad (MCH) on Thursday, drew overwhelming response with over 90 per cent of the offer amount subscribed in the first hour itself. The Andhra ... More

    MERGERS & ACQUISITIONS


    Electrosteel in talks with FIs for Lanco stake
    ELECTROSTEEL Castings Ltd (ECL), the Kolkata-based Rs 550-crore cast iron and ductile iron spun pipes major, is currently negotiating with the financial institutions to acquire their 14.5 per cent holding in Lanco Industries Ltd (LIL), the Rs ... More

    Gujarat NRE Coke, Power may merge
    GUJARAT NRE Coke Ltd, manufacturers of low-ash metallurgical coke, is considering merger of group company, Gujarat NRE Power Ltd, into itself after the current accounting year, which will end on September 30, 2002. Talking to Business ... More

    Excel Ind board to take up merger of 100 pc arm
    EXCEL Industries Ltd has informed the Bombay Stock Exchange that a meeting of board of directors is scheduled to take place on March 27 to consider and approve, inter alia, the amalgamation of Waman Industrial Chemicals Ltd. Waman Industrial ... More

    NEW PROJECTS


    Lanco group cos to double capacities
    FOLLOWING the substantial acquisition of equity by the Kolkata-based Electrosteel Castings Ltd (ECL) recently, two of the Lanco group companies — Lanco Industries Ltd (LIL) and Lanco Kalahasthi Castings Ltd (LKCL) — have embarked upon ... More

    FIPB nod for Acalpo Wilmar refinery in Kakinada
    ACALPO Wilmar, a joint venture floated by two Singapore firms, has got the Foreign Investment Promotion Board (FIPB) approval to set up an edible oil refinery in Kakinada. Acalpo Wilmar has formed an Indian arm, Acalpo Oils and Fats Ltd, to set ... More

    ALLIANCES & JOINT VENTURES


    IOC hopeful of fresh deal with Reliance soon
    INDIAN Oil Corporation (IOC) hopes to formalise a fresh marketing agreement with Reliance Petroleum Ltd by the end of this month, Mr M.A. Pathan, Chairman, IOC, said on Thursday. "The transition agreement (for marketing RPL products) will end ... More

    Kinetic Engg to be Hyosung production base
    MOTORCYCLE and moped maker, Kinetic Engineering Ltd, will become one of the global manufacturing bases for the GF range motorcycles of South Korea's Hyosung, a top company official said on Thursday. A memorandum of understanding to this effect ... More

    Usha Comm tie-up with inCode
    KOLKATA: Usha Communications Technology (Usha Comm), a company engaged in the development of convergent billing software solutions for cable, wireline, wireless and IP service providers, has announced the setting up of a working ... More

    SICK UNITS


    IISCO revival & the TPE factor
    IT looks like that New Delhi is once again buying time to take a position on the vexed issue of revival of Indian Iron & Steel Co, the ailing wholly-owned subsidiary of Steel Authority of India Ltd. All that can be said at the moment is that ... More

    BIFR rejects Dunlop's relief application again
    THE Board for Industrial and Financial Reconstruction has once more rejected the relief application filed by Dunlop India Ltd. Dunlop had moved an application on February 19 for passing appropriate orders staying the operations of contracts, ... More

    OUTLOOK


    RINL signs MoU with Steel Ministry
    RASHTRIYA Ispat Nigam Ltd (RINL) signed a memorandum of understanding for the financial year 2002-03 with the Steel Ministry on Thursday. The MoU was signed by Mr N.N. Khanna, Secretary to the Ministry of Steel, and Dr B.N. Singh, RINL ... More

    Datacon sets growth target of Rs 100 cr
    The CEO, Mr Chandrashekar, said the company was planning to strengthen the sales and marketing team. More

    Mukta rights sale to boost turnover
    MUKTA Arts Ltd, which is in the process increasing its film production operations, is examining the sale of rights of its library of 11 films to augment the company's turnover in year 2002. With the company set to touch the minimum required ... More

    NTPC plans to meet targets by way of JVs
    NATIONAL Thermal Power Corporation (NTPC) will explore the possibility of entering into joint ventures with State electricity boards as well as state-owned foreign utilities to meet its capacity addition target of 20,000 MW by 2012, according to ... More

    PERFORMANCE


    FCI OEN Connectors sales, net up
    FCI OEN Connectors Ltd has recorded net sales of Rs 68.44 crore in 2001, an increase of 14 per cent over Rs 60.24 crore in the previous year. However, due to global slowdown, export sales had come down to Rs 16.72 crore (25 per cent of the ... More
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  • Top Stories
    Gold exchange key to boost market: Reddy


    Defence levy: Tax or fine?

    Restraint against joining proceedings in US -- Dabhol lenders get HC reprieve

    She draws strength from Vivekananda

    Pvt banks better PSBs in cost control

    The CeBIT innovations: Products of the future

    BSE deliberates on free-float index

    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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