The Hindu Business Line : Thursday, April 25, 2002

Mukta sells film sat telecast rights to Sony for Rs 16 cr
MUKTA Arts Ltd has assigned satellite telecast rights of its entire movie library of 11 films to Sony Entertainment Television India Private Ltd (SET) for Rs 16.1 crore. The contract is for a period of five years. The payment of Rs 16.1 crore ... More

Applogic to offer Net telephony from mid-May
APPLOGIC Broadband Systems Ltd, the Hyderabad-based category-B Internet service provider (ISP), has announced that it would be shortly launching Internet telephony in Andhra Pradesh, thereby becoming the first player to do so in the State. In a ... More

GSPL to build pipeline to carry Shell Hazira gas
GUJARAT State Petronet Ltd (GSPL) has firmed up plans to lay a massive gas transmission trunk line between Hazira and Bharuch on an outlay of Rs 190 crore. The infrastructure is being created for the offtake of gas from the Royal Dutch Shell ... More

Canadian co to set up `fast housing' plant
MINAEAN Ventures Inc (MVI) of Canada, which manufactures and markets rapid construction housing technologies, is planning to set up a manufacturing plant at the proposed special economic zone (SEZ) in Andhra Pradesh. The company is currently in ... More

PRIVATE PLACEMENT

PTC to expand equity base via pvt placement
POWER Trading Corporation (PTC) is planning to expand its equity base by private placement of shares with financial institutions and banks. Talking to presspersons today, the PTC Chairman and Managing Director, Mr T.N. Thakur, said: "We have a ... More

CORPORATE DISPUTES

Damages for delay in interconnect pact -- DoT dismisses Bharti case
THE Department of Telecommunications (DoT) has dismissed the contention of Bharti Telesonic Ltd, the long-distance arm of the Bharti group, that it needs be paid damages for the delays in ensuring interconnect agreements with Bharat Sanchar Nigam ... More

MERGERS & ACQUISITIONS

UB to offer Rs 108 cr for Empee arm
UNITED Breweries (UB) is making a Rs 108-crore offer to acquire the Chennai-based Empee group's brewing business. The deal is likely to be formalised in the next few weeks. This acquisition will be part of UB's joint venture with UK brewer, ... More

Informed buying in KPIT Info counter?
KPIT Infosystems' proposal to merge Cummins Infotech with itself has raised the question whether a section of the market was aware of the plan much earlier. KPIT, the Pune-based company, informed the stock exchanges on Tuesday that the board ... More

Finolex Cables completes optical fibre unit merger
FINOLEX Cables Ltd has completed the acquisition of the optical fibre business of Finolex Technologies Ltd, the erstwhile Lucent Technologies Finolex Ltd. The amalgamation of Finolex Technologies Ltd with the company is effective from April 1, ... More

NEW PROJECTS

Rajmahal project expansion -- CIL second thoughts on contract to Metchem
COAL India Ltd (CIL) seems to be in two minds about assigning Metchem of Canada the turnkey job for the expansion of the Rajmahal opencast mining project from 10.5 million tonnes (m.t) to 17 m.t. The project falls under the administrative control ... More

REGULATORY BODIES & RULINGS

Disclosure clause likely on transfer to investor fund
INDIA Inc may soon have to cope with yet another disclosure requirement, with the Department of Company Affairs (DCA) set to mandate the disclosure of the unclaimed amounts transferred to the Investor Education & Protection Fund (IE&PF) in the ... More

Annual report salary disclosure limit at Rs 24 lakh
THE Department of Company Affairs (DCA) has doubled the cut-off limit for disclosures of remunerations of employees by companies in their annual reports from the existing Rs 12 lakh per annum to Rs 24 lakh per annum vide a notification dated ... More

Action against 5,836 companies

ALLIANCES & JOINT VENTURES

Hughes ties up with NavinMail
HUGHES Tele.com India Ltd has announced its tie-up with NavinMail Services (India) Pvt Ltd (TeliVoice) for their Voice Messaging Service (VMS). This service priced at Rs 6 per minute will allow Hughes Tele.com users to send voice messages to ... More

STANDARDS & BENCHMARKS

ISO 14001 for Kothari plant

SICK UNITS

Punalur Paper Mills revival plan gets nod
The Government had agreed to the settlement of actual energy charges owed by the company to the SEB in instalments on a deferred payment basis. More

AAIFR sets aside order on Metal Box

OUTLOOK

Satyam Q4 net up 3.42% -- Co sees 18-20 pc growth this fiscal
SATYAM Computer Services Ltd (SCSL), the Hyderabad-based software solutions provider listed on the New York Stock Exchange (NYSE), has suffered a severe setback in profit for the fourth quarter and a marginal setback in profit for the full year ... More

Pressure on margins to persist, says HCL
HCL Technologies Ltd has said that pressure on margins will continue for another ``two-three'' quarters, even as recovery hopes of the depressed US technology sector throws up new business opportunities. Gross margins in the third quarter fell ... More

TAFE expects to plough ahead with Samrat
WITH its "new-generation" 44 HP tractor Samrat launched, Tractors and Farm Equipment Ltd, part of the Chennai-based Amalgamations group, believes it has successfully made a leap in terms of end-to-end technological capability. "This is the ... More

PERFORMANCE

Satyam Computer: True to word?
THE earnings performance of Satyam Computer Services was in line with the management guidance for the fourth-quarter and year ended March 31, 2002. And, there was hardly any surprise on that front. The salient features of the performance are: ... More

Ashok Leyland hopes to regain lost market share
THE second largest commercial vehicle maker in the country, Ashok Leyland Ltd, lost three per cent market share last fiscal as sluggish market conditions strapped sales. The company's market share slipped to 33 per cent across all segments in ... More

ABB net rises to Rs 6.20 cr in Q1
ASEA Brown Boveri Ltd (ABB India) today reported a rise in net profit for the quarter ended March 31, 2002 (first quarter) to Rs 6.20 crore from the previous corresponding Rs 4.72 crore. Net sales/income from operations increased to Rs 241.13 ... More

Max New York premium income at Rs 38 cr
MAX New York Life Insurance has recorded a sum assured of Rs 2,100 crore during its first year of operations. For the year, it sold around 64,000 policies and the total annualised first year premium was over Rs 43 crore. The first year ... More

PEOPLE

Govt must not name tainted persons to FI boards: Panel
THE Standing Committee on Finance has recommended that promoters or directors of companies, who have been indicted by the capital markets regulator, the Securities and Exchange Board of India, for indulging in market manipulation, should not be ... More

NEW PRODUCTS & SERVICES

Maersk Logistics sets up office in Tirupur
MAERSK Logistics, a part of the A.P. Moller Group, has set up operations at Tirupur. "In line with the commitment to grow with our clients, the establishment of our own operations in Tirupur supports our growing presence in India. Tirupur's ... More

Chicken tray packs from Godrej Agrovet
GODREJ Agrovet, a subsidiary of Godrej Industries Ltd and makers of `Real Good' brand of chicken, is gearing up to launch tray packs of a combination of chicken portion, legs and breast, cooled and processed with a shelf life of seventy two ... More

Kerala: Net telephony

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Host of rollbacks coming -- Dividend tax norms to stay with sops for shareholders

Satyam to float separate co for BPO foray

Bank of Baroda extends Rs 100-cr credit to IFCI

Satyam Q4 net up 3.42% -- Co sees 18-20 pc growth this fiscal

Core sector growth rate down to 3 pc in 2001-02

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