The Hindu Business Line : Wednesday, April 17, 2002

Indo Rama picks E&Y to advise on revamp option -- Board awaits DCA nod for 10% dividend
THE board of directors of the Rs 1,900-crore Indo Rama Synthetics (I) Ltd (IRSL) has commissioned Ernst & Young to evaluate and propose various strategic options that could be pursued by the company for restructuring its businesses. "The board ... More

Goodricke group may sell instant tea unit in Bengal
HIT by poor business prospects, it is likely that Goodricke Group Ltd may sell its instant tea plant located in North Bengal. According to industry sources, the plant has increased its production and exports to Japan in the last year but it is ... More

MERGERS & ACQUISITIONS

Takeover panel wants share acquisition norms tightened
THE Securities and Exchange Board of India's takeover panel has suggested further tightening of share acquisition norms. According to Mr Justice P.N. Bhagwati, who heads the SEBI's takeover panel, if the acquirer fails to make an open offer ... More

Unichem Lab unveils UK joint venture
THE Mumbai-based pharma company, Unichem Laboratories Ltd on Tuesday announced a joint venture called Niche Generics Ltd in UK along with erstwhile executive directors of Bioglan Generics Ltd. The joint venture will involve developing, ... More

Wartsila makes 2nd open offer for Indian arm
FINNISH power major, Wartsila Corporation along with Wartsila Technology Oy Ab, today announced its second open offer to acquire up to 18.34 lakh shares (15.24 per cent) of the Indian subsidiary, Wartsila India, at Rs 120 for every share of face ... More

REGULATORY BODIES & RULINGS

High-tech board meetings in offing
THE Department of Company Affairs (DCA) proposes to make an amendment in the Companies Act, 1956 to enable companies to hold board meetings through electronic means such as video conferencing and telephone conferencing and take advantage of ... More

ALLIANCES & JOINT VENTURES

BHEL, ONGC sign MoU
HYDERABAD: A PROSPECTIVE business worth Rs 1,800 crore over the next 4-5 years is expected to be generated for the Bharat Heavy Electricals Ltd (BHEL)-Hyderabad, under an MoU signed with the Oil and Natural Gas Corporation (ONGC). The ... More

Toyota inks pact with Karnataka for export unit
TOYOTA Motor Corporation (TMC) signed an MoU with the Karnataka Government here on Tuesday, to set up an export-oriented unit to make automotive transmission systems at Bidadi and Jigani near Bangalore at a total investment of Rs 360 crore. The ... More

INTERVIEW

Britannia sees crisp growth continuing in bakery business
"It is true that the dairy division may post higher growth than the bakery business in the coming years. But don't forget that the seven per cent growth of bakery business is on a larger base and is still a sizable organic growth." More

DIVERSIFICATION

Wipro unfolds new business segment
WIPRO Ltd has announced a new business segment in its fold, Wipro Healthcare and Life Science. The company has appointed Mr D.A. Prasanna, as Vice Chairman, to head the division, said the Chairman, Mr Azim Premji. Mr Prasanna, earlier Managing ... More

RIGHTS ISSUES

BILT fixes RD for rights issue

OUTLOOK

Bengal may review pact with Haldia Petro
"At a time when the promoters, along with IOC needed to talk in one voice before HPL's lenders and present a cogent restructuring package, things are getting delayed with Mr Chatterjee refusing to divest his holding.'' More

PERFORMANCE

Hind Lever: A case of `power' failure?
AFTER a promising close to the year 2001, Hindustan Lever appears to have begun the 2002 fiscal on a rather inauspicious note. Net sales for the March 2002 quarter shrunk by around 10.1 per cent (after adjusting for business disposals and ... More

HLL believe the best is still ahead
PREDICTABLY, the mood at FMCG major Hindustan Lever Ltd (HLL) is to look ahead with optimism despite the first quarter sales decline it reported on Monday. Illustrating the larger context, Mr D. Sundaram, Director (Finance), HLL, said: "The ... More

FCI OEN sales, net rise in Q1

NEW PRODUCTS & SERVICES

Small arms training simulator
HYDERABAD: Zen Technologies Ltd, a city-based simulator developer, has come up with an advanced edition of its small arms training simulator (Zen Sats). The product, is an interactive version and can be used to train multiple firers ... More

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