Financial Daily from THE HINDU group of publications
Tuesday, April 09, 2002
Markets (April 8)
BL 2501175.07 (+1.03)
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Dollar (Buy/Sell)48.83/48.96
Gold Std (10 gm)4980 (-20)

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ONGC looking to repay ADB, World Bank loans
OIL and Natural Gas Corporation Ltd (ONGC) plans to repay its World Bank and Asian Development Bank loans by May or early June, according to Mr Subir Raha, Chairman and Managing Director. This will render the company virtually debt-free as it ... More

Kovai Medical to introduce smart cards
THE Kovai Medical Centre and Hospital (KMCH) is introducing `smart card' for its employees. The card is to be formally launched on April 20. According to its Senior Vice-President, Mr U.K. Ananthapadmanabhan, "The card will not only contain the ... More

Shriram group co plans low-cost housing units
SHRIRAM Properties Private Ltd, a part of the Rs 2,500-crore Shriram group, is planning to come out with housing for the low and middle-income groups. The apartments will be in range of Rs 4-7 lakh. The company plans to come out with 2,000 ... More

William M. Mercer takes new name
HUMAN resource consulting firm William M. Mercer has announced that it will henceforth be known as Mercer Human Resource Consulting. According to a press release from the company, the new name will apply to the company's worldwide operations. ... More

MERGERS & ACQUISITIONS


Group investment cos may sell stake in RIL -- Merger gets shareholders' nod
RELIANCE may sell the shares held by the group investment companies in Reliance Industries Ltd after the merger of Reliance Petroleum Ltd with it and use the proceeds for acquisitions in India or abroad, Mr Dhirubhai Ambani, Chairman, RIL, said ... More

Pharmacia hikes offer price for Abbott stake
PHARMACIA Corporation has revised its offer price for acquisition of 20 per cent stake in Abbott Laboratories Ltd to Rs 245 per share from Rs 243. In a notification to the BSE, Pharmacia Corporation has said it has decided to revise the offer ... More

NEW PROJECTS


Utkal Asbestos plans capacity expansion
UTKAL Asbestos Ltd plans to expand capacity for production of asbestos cement pressure pipes and sheets to 76,000 tonne per annum from the present 36,000 tpa at its plant in Medinipur district of West Bengal. The cost of the expansion project ... More

REGULATORY BODIES & RULINGS


Accountancy services -- DCA group for foreign cos' entry route review
A WORKING group constituted by the Department of Company Affairs (DCA) has recommended a review of the "alternative routes'' of entry that are available for foreign-based establishments to provide accountancy services in India. In their report, ... More

ALLIANCES & JOINT VENTURES


Philips, Nike team gets dressed up for action
WHAT happens when a consumer electronics giant teams up with a design-conscious global sportswear maker? The result can be electrifying and unpredictable, and still, simply practical. For starters, there are the co-branded interactive ... More

PowerGrid plans joint venture with employees
POWER Grid Corporation is considering a joint venture with its employees to set up projects in the future that would enhance its transmission capability, its Chairman and Managing Director, Mr R.P. Singh, said on Monday. As per a blueprint that ... More

IT Microsystems, CDAC sign MoU
PUNE: The Pune-based Centre for Development of Advanced Computing (CDAC) has signed a memorandum of understanding (MoU) with IT Microsystems (India) Ltd, to offer its flagship course Diploma in Advanced Computing (DAC) in the United ... More

EVENTS


Perform social duty, Jaitley tells corporates
THE Union Minister for Law, Justice and Company Affairs, Mr Arun Jaitley, today urged the corporate sector to sponsor museums and libraries apart from other sectors in a bid to enhance social responsibility towards the country. Inaugurating a ... More

OUTLOOK


BHEL-Tiruchi looking to prove itself in new technology
BHEL'S Tiruchi unit, which has gathered expertise in IGCC technology by running a 6.2 MW demonstration plant for over 10 years, is now ready with a `conceptual design' for a 100 MW plant. It is looking for takers for the technology. (The ... More

PowerGrid eyes Rs 900-cr net
THE state-owned Power Grid Corporation is planning to invest Rs 3,250 crore in 2002-03 as part of its efforts to attain a turnover of Rs 3,000 crore and net a profit of Rs 900 crore, its Chairman and Managing Director, Mr R.P. Singh, said on ... More

PEOPLE


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