Financial Daily from THE HINDU group of publications
Saturday, April 06, 2002
Markets (April 5)
BL 2501174.04 (+5.03)
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Dollar (Buy/Sell)48.80/48.93
Gold Std (10 gm)5000 (-30)

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Amul utterly keen on creaming Hind Lever
THE battle for supremacy in the Rs 525-crore organised Indian ice-cream market has assumed overtly aggressive dimensions, with the Gujarat Co-operative Milk Marketing Federation (GCMMF, which owns the Amul brand) asserting that it will displace ... More

NTPC getting firm with SEBs to recover dues
APART from the negative fall-out of the `availability-based tariff' (ABT) regime which is sure to curtail internal resource generation, National Thermal Power Corporation (NTPC) has to contend with the perennial problem of huge outstandings from ... More

HLL withdraws 2 low-end products
IN a further indication of its strategy to focus on the premium ice-cream segment rather than targeting volumes per se, Hindustan Lever Ltd (HLL) has withdrawn two low-priced Kwality Walls products — Jaljeera Blast and Max ... More

FM tunes set to rock India Inc
`DRIVE-TIME' as opposed to television's longstanding `prime-time,' will rock the city by month-end, as the first of five private FM radio broadcasters holding licences for Mumbai, go on-air. "We will probably be the first to take off,'' Mr ... More

Luminous Electronic foraying into South
AFTER one year of test-marketing in Bangalore, Kochi and Hyderabad, the Delhi-based Luminous Electronic Ltd, part of the Rs 60-crore SAR group and a major player in the inverter and UPS segments, is now entering the southern market. The entry ... More

  • APSFC donation to CM relief fund

    PREFERENTIAL ALLOTMENTS


    No bar on open market sale by pref allottees
    THERE are no restrictions on the sale of shares by the preferential allottees in the open market other than lock-in requirements. The Securities and Exchange Board of India and the Department of Company Affairs (DCA) have been receiving ... More

    AUDITING


    Furore over ICWAI panel's Australia trip
    ALLEGATIONS of an "illegal" foreign trip, one that now seems to have boomeranged, have made life uneasy for the Institute of Cost and Works Accountants of India. The unease has been compounded by a Government nominee on the ICWAI central ... More

    TAXATION


    Water tax dues: EIH pays Rs 2 crore to Kolkata corporation
    EAST India Hotels Ltd (EIH) on Friday paid Rs 2 crore to the Kolkata Municipal Corporation (KMC) as directed by the Calcutta High Court relating to the issue of payment of water tax outstanding since 1991. The corporation had floated a scheme ... More

    RESTRUCTURING


  • Kerala Wood Industries board recast

    MERGERS & ACQUISITIONS


    Aurobindo buys Ranit Pharma
    AUROBINDO Pharma Ltd (APL), the Hyderabad-based Rs 1,000-crore pharma major, has announced that it has acquired Ranit Pharma Ltd (RPL), an unlisted company under the same management, for a consideration of Rs 10 crore. In a press release here, ... More

    Delta Paper to expand Nizam Sugars units
    DELTA Paper Mills, which is set to form a joint venture for the controlling stake in four units of Nizam Sugars, is planning to undertake expansion of sugar mills, increase distillation capacity in two distilleries and develop co-generation ... More

    NEW PROJECTS


    i-flex IPO proceeds to go into new centres
    SOFTWARE developer, i-flex Solutions Ltd, will invest Rs 170.61 crore in establishing new development centres in Bangalore and Mumbai from the proceeds of its forthcoming initial public offer (IPO). ``We have four development centres in ... More

    ALLIANCES & JOINT VENTURES


    FFE Minerals in tech pact with S. African company
    THE Chennai-based FFE Minerals India Ltd has entered into a pact with a South African consulting and engineering firm, CKIT (Conveyor Knowledge & Information Technology), for pipe conveyor technology. Speaking to reporters in Mumbai today, Mr ... More

    BONUS ANNOUNCEMENTS


    HLL not to abandon bonus debentures
    HINDUSTAN Lever Ltd (HLL) today said it had no plans to abandon the proposal to issue bonus debentures. There were reports that HLL's issue of bonus debentures could be impacted because of the proposal of Finance Bill 2002 to tax ... More

    STANDARDS & BENCHMARKS


    IOC terminal gets ISO certification
    MANGALORE: The Mangalore terminal of Indian Oil Corporation (IOC) has received ISO 9002 (1994) certification for its quality management systems for receipt, storage, handling and distribution of petroleum products. The certification has ... More

    SICK UNITS


    BIFR issues notice for wind-up of Madurai Cements
    THE Board for Industrial and Financial Reconstruction (BIFR) has directed issuance of a show-cause notice for winding up the ailing Madurai Cements Ltd. At the recent hearing, theBench noted that all efforts for revival of MCL had failed in ... More

    One-time settlement to FIs -- NTC selling 10-acre land to Pondy Govt
    THE NTC Tamil Nadu & Pondicherry subsidiary, which has earmarked for sale 40 acres of surplus land owned by its sick textile unit in Pondicherry, is selling a part of the land to the Pondicherry Government. The latter is planning to acquire ... More

    OUTLOOK


    Tata Steel plans new forays
    TATA Steel is planning to enter some new business areas which might include non-steel segments, Mr B. Muthuraman, Managing Director, said here today. Addressing a news conference here on Friday, Mr Muthuraman said the evaluation process was on ... More

    PERFORMANCE


    PFC expects disbursements to touch Rs 10,000 cr in 2002-03
    POWER Finance Corporation (PFC) aims to disburse Rs 10,000 crore in loans in the current financial year as against sanctions of Rs 8,506 crore last fiscal, its Chairman and Managing Director, Mr A.A. Khan, has said. PFC made a net profit of Rs ... More

    Tata Steel: Climbing up the EVA ladder
    TATA Iron & Steel Company (Tata Steel) has taken up an exercise to turn the negative economic value added (EVA) to a positive one within five years from now. This was stated by the company's Managing Director, Mr B. Muthuraman, at a press ... More

    Indica March sales take `B segment' by storm
    THE Indica from Tata Engineering has blazed record sales in the `B segment' of the domestic car industry for March 2002. The company ended 2001-2002 with a 46 per cent rise in domestic sales of the Indica, to 64,035 units. Though no official ... More

    BHEL-Tiruchi achieves higher turnover, profit
    BHEL-Tiruchi has achieved a record turnover of Rs 1,787 crore for the year 2001-02. The unit, which produces fossil (coal) boilers, boiler auxiliaries, seamless steel pipes and valves, made a profit of Rs 176 crore last year, which was the 33rd ... More

    NEW PRODUCTS & SERVICES


    Refco Sify launches volatility index
    REFCO Sify Securities has set up a volatility index using the S&P CNX Nifty options to calculate the volatility of the stock market in quantitative terms. The new index gives vital clues about the trend of the stock market. "Normally it is very ... More
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  • Top Stories
    Natural gas at market prices to power, fertiliser cos: Naik


    TN decision on noon meal scheme smashes egg prices

    Tata Steel plans new forays

    Panel moots due diligence for private bank directors

    SBI for merger of select associate bank branches

    UTI knocks SEBI door to roll over three schemes

    Electronics export up 37 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


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