Financial Daily from THE HINDU group of publications
Tuesday, April 23, 2002
Markets (April 22)
BL 2501137.92 (-0.99)
BSE Sensex3390.25 (+25.85)
S&P CNX Nifty1104.15 (+3.85)
Dollar (Buy/Sell)48.87/49.00
Gold Std (10 gm)5060 (+10)

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ANNOUNCEMENTS


Vidya Chhabria is new chief of Jumbo group
MS Vidya Manohar Chhabria, wife of Manu Chhabria, who died early this month, has taken over as Chairperson of Shaw Wallace and other group companies. The board of directors of the Jumbo group in India, which controls these companies on Monday ... More

Hindustan Latex to launch female condoms soon
THIRUVANANTHAPURAM: HINDUSTAN Latex Ltd will shortly launch female condoms in the country in association with Female Health Company of the UK. The foreign collaborator will supply the technology and the necessary machinery and equipment for ... More

Energy consultancy offer from Mitcon
MITCON Consultancy Services Ltd, the State-level industrial and technical consultancy, has announced the launch of their Energy Efficiency and Conservation promotion, guidance, counselling and consultancy centre at Pune. The new project from ... More

OPEN OFFERS


SEBI wants open offer for Delco Remy
THE Securities and Exchange Board of India (SEBI) has asked Mr Bhupinder Singh Sahney and Delco Remy America Inc and others, who hold controlling stake in Delco Remy Electricals India, to make direct offer for buying shares from other ... More

CORPORATE DISPUTES


Dabhol: GE won't budge on surety
THE Dabhol power project is likely to remain mothballed for many more months with the equipment supplier and stakeholder, GE Power Systems, refusing to co-operate in the sale process without a surety on its investment and equipment cost. ... More

RESTRUCTURING


VisualSoft shifts thrust to solutions -- Products business to be spun off
IN a significant move, VisualSoft Technologies Ltd (VTL), the Hyderabad-based software major, has decided to adopt acquisitions and mergers as a tool to expand its business in an inorganic way. Having strategically decided to maintain a low ... More

Max India to hive off unit
THE Delhi-based Max India Ltd today said that it will spin off its healthcare division into a wholly-owned subsidiary. In a notification to the BSE, the company said a board meeting would be convened on April 30 to consider the financial ... More

MERGERS & ACQUISITIONS


Dipping mining sector fortunes forced Atlas Copco's hands?
THE plateaued market for mining equipment due to stagnancy in coal sector investments seems to have influenced the sell-off decision of the Swedish engineering major, Atlas Copco, which, through its group company, Chicago Pneumatics Tool, has ... More

Renaissance group not the first suitor
THE Renaissance group, which is bidding for the Coimbatore-based Revathi Equipment Ltd, is not the first one to figure in the takeover of the mining equipment manufacturing company. The first attempt to buy out the equity of REL was reportedly ... More

Zenith acquires Sai Global Tech
BANGALORE: The Bangalore-based Zenith Software Ltd, part of the Rs 300 crore Zenith group of companies has acquired Sai Global Technologies, also of Bangalore. ZSL, a 100 per cent EOU set up in 1996, provides software services to ... More

NEW PROJECTS


Sundaram Motors on expansion drive
SUNDARAM Motors has decided to embark on a large-scale expansion programme and is to soon open a number of sales and service outlets. The company, according to its top brass, hopes to take advantage of the ``changing economic policy of the ... More

SICK UNITS


BIFR not happy with NJMC divestment plan -- IIBI rehab package still not ready
THE Board for Industrial and Financial Reconstruction (BIFR) has criticised the Union Government on its decision to go ahead with the disinvestment plans of National Jute Manufactures Corporation (NJMC) Ltd. According to informed sources, the ... More

OUTLOOK


BEML bullish on prospects
"THIS year is going to be a growth year for BEML, especially with a slight improvement in the economy and the earthmoving and mining sectors looking up, '' Dr K. Aprameyan, Chairman and Managing Director, Bharat Earth Movers Ltd, told Business ... More

PERFORMANCE


Hind Paper frets over growth hurdles
THE state-owned Hindustan Paper Corporation, even after earning a net profit (provisional) of Rs 45 crore on a sales turnover of about Rs 583 crore during the financial year ended March 2002, is apprehensive about its growth. This is due to ... More

PEOPLE


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  • Top Stories
    Budget creates an angry class


    Dipping mining sector fortunes forced Atlas Copco's hands?

    Power funds for States to be linked to performance

    Investment cap on relief bonds for retirees goes

    TCS to reduce intake -- Largest recruiter to go slow

    Dabhol: GE won't budge on surety

    Bharti makes international calls up to 40 pc cheaper

    `Speculative' deals to be redefined

    In Depth
    Inside Kashmir
    Guide to derivatives
    US-64
    Looking back
    Apr. 14-Apr. 20
    `Refineries must be lively `n' large to survive'

    Revenue Dept for restoring I-T breaks on dividends

    Caltex gets buy-out okay with 5-yr rider


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