The Hindu Business Line : Tuesday, April 02, 2002

DSP plans to close down blast furnace
DURGAPUR Steel Plant (DSP) is planning to close down its blast furnace (BF) No. 1 by May this year, bringing on its modernised BF No. 3 to boost productivity. DSP sources said that although after bringing on BF 3 the first blast furnace would ... More

ANNOUNCEMENTS

Wockhardt gets DCGI nod for anti-infective drug
WOCKHARDT Ltd on Monday said that it received approval from the Drug Controller General of India (DCGI) for conducting human clinical trials on its new anti-infective drug. The drug, code named, `WCK-771' is currently in the phase one trial ... More

ACCOUNTING STANDARDS

ICAI puts accounts ball in companies' court
IN a move aimed at removing misconceptions about the degree of auditors' responsibility in the certification of financial statements, the auditors' reports of companies would henceforth explicitly mention that "the financial statements are the ... More

ENVIRONMENT

`Homing' in on greener pastures
EVEN as once-serene Bangalore is now universally dubbed the silicon city and apartment blocks and highrises change its skyline forever, the city's techies and corporate elite are homing in on greener options for their living spaces. While ... More

CORPORATE BONDS

NHAI mops up Rs 797 cr thru bonds
THE National Highways Authority of India (NHAI) has mopped up Rs 797 crore during 2001-2002 through bonds issued under Section 54 EC of the Income-Tax Act for part-funding the National Highways Development Project (NHDP). During the current ... More

Highest safety reaffirmed for Maruti issues
CREDIT rating agency ICRA Ltd on Monday reiterated the highest safety ratings of `A1+' and `LAAA' to the commercial paper and non-convertible debenture (NCD) programmes of Maruti Udyog Ltd. The commercial paper is a Rs 100-crore programme, ... More

MERGERS & ACQUISITIONS

IFCI sells shares of Indo Rama
IFCI Ltd has informed the Bombay Stock Exchange that it executed a negotiated deal today with Yield Securities & Credits Pvt Ltd for sale of 16,46,579 equity shares of Indo Rama Synthetics India Ltd (IRSL) (being 0.99 per cent of the paid-up ... More

Gulf Oil may replace Leyland as Hindujas' investment vehicle
ONE of the main reasons for the merger of Gulf Oil India Ltd and IDL Industries Ltd is to create one company with a strong balance sheet, capable of bidding for the many disinvestments coming up next year. The merger has been announced with an ... More

Cadbury stake in Indian arm rises to 90 pc
CADBURY Schweppes Plc today announced that it has acquired a 39.34 per cent stake in its Indian subsidiary, Cadbury India Ltd, through its open offer. The current stake, aggregating 14,015,341 equity shares of Cadbury India, was acquired ... More

5 CIAL directors to hike stake to 26 pc
NOW that the Kerala Government has fulfilled its commitment to pay Rs 20.5 crore to keep its stake in Cochin International Airport Ltd (CIAL) at 26 per cent, five directors of the company are now planning to raise their equity also to 26 per ... More

ALLIANCES & JOINT VENTURES

Ranbaxy arms in pact with Core for arthritis drug
RANBAXY Pharmaceuticals Inc (RPI) and Ohm Laboratories — wholly-owned subsidiaries of Ranbaxy Laboratories Ltd — in a collaborative and exclusive venture with Core Pharma LLC, has received US-FDA approval for Acetaminophen ... More

SICK UNITS

FIs clear new debt revamp package for Natco Pharma
FINANCIAL institutions led by the Industrial Development Bank of India (IDBI) have cleared a new debt restructuring package for Natco Pharma Ltd (NPL). The move is expected to give a fresh lease of life to Natco, the Hyderabad-based ailing ... More

OUTLOOK

Hind Lever warning shows FMCG cos are on slow track
EQUITY analysts are expecting a trying year for fast-moving consumer goods (FMCG) major, Hindustan Lever Ltd (HLL), which warned today of a weak topline growth for the March quarter (MQ) of 2002, the first quarter of its ongoing financial ... More

Vision statement to change Tata Steel's direction?
THE stock market has got wind of a changing vision in the Tata Iron & Steel Co (Tata Steel). The market players have begun to expect a clear growth direction from the steel major, which has been withstanding a global recession. Stock market ... More

PERFORMANCE

Hero Honda, `world's largest 2-wheeler co'
HERO Honda Motors Ltd today said it has now become the world's largest two-wheeler company selling over 14.25 lakh motorcycles in 2001-02 financial year. The company had sold about 10.3 lakh motorcycles in 2000-01 and is planning to sell over ... More

GM posts record sales in March
GENERAL Motors India Ltd on Monday said it notched up a record sales of 1,367 cars in March. In March 2001, GM had sold 1,055 cars, the company said in a statement here. Much of the improvement in sales, besides the reason of purchases by ... More

Honda sells 1,581 cars in March
HONDA Siel Cars India Ltd has sold a record 1,581 cars in March, which is up from 1,271 cars sold in the same month a year earlier. The company, a 99:1 joint venture between Japan's Honda Motor Co. and SIEL Ltd, sold 10,011 cars in the ... More

Gas company meets CNG station target

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Hind Lever warning shows FMCG cos are on slow track

Hero Honda, `world's largest 2-wheeler co'

N. Indian farmers to miss Bt cotton bus

Chandamama gets younger, goes glossy

`Further rate cuts difficult unless costs come down'

To cover pool account deficit -- Govt issues Rs 9,000-cr bonds to oil majors

Exports falter, 11-month growth rate at 0.06 pc

In Depth
Inside Kashmir

Guide to derivatives

US-64

Looking back
Mar. 24-Mar. 30
Kinetic hopes to `Boss' over with Hyosung's technology

HLL open to buyback; but not now: Banga

Rating may be mandatory for private placement

IOC to get Haldia Petro reins with 26 pc stake

Pechiney to fully own Indian joint venture -- Plans Rs 70-cr alumina complex in Orissa

TotalFina recalls top official; cites slack oil reforms -- To shift focus to LPG, chemicals, lubes