The Hindu Business Line : Saturday, May 04, 2002

KPMG abandons talks with Andersen
KPMG, a leading professional services firm, on Friday announced that the discussions for combining Andersen's operation in India have been abandoned. A statement issued by KPMG said that a decision has now been taken against a ``comprehensive ... More

NHPC firms up Rs 4,000 cr for greenfield units
NATIONAL Hydroelectric Power Corporation (NHPC) has firmed up Rs 4,000 crore of funding for its greenfield projects during the Tenth-Plan period. Addressing a press conference here, the NHPC Chairman and Managing Director, Mr Yogendra Prasad, ... More

Daimler launches training programme
AIMED at developing local technical competence in India, DaimlerChrysler India has announced a one-year comprehensive `DaimlerChrysler India Automotive Mechatronics Programme'. It is aimed at developing technical competence in India for ... More

Changes in Titan board

Canadian North contract for Kale

PREFERENTIAL ALLOTMENTS

Ambica Agarbathies promoters to hike stake via pref issue
THE promoters of Ambica Agarbathies & Aroma Industries Ltd (AAAIL), the Eluru-based agarbathies manufacturer, have decided to consolidate their holding in the company through preferential allotment route. Apart from the promoters, a couple of ... More

RESTRUCTURING

Lever Johnson to be demerged into 2 entities
HINDUSTAN Lever Ltd and SC Johnson & Son Inc, US, have decided to demerge their joint venture, Lever Johnson (Consumer Products) Pvt Ltd, into two entities. In the process of demerger, the disinfectants division of the joint venture will be ... More

Daewoo India to seek financial restructuring
BELEAGUERED car maker Daewoo Motors India Ltd, left out of this week's GM-Daewoo international deal, on Friday said it is in negotiations with financial institutions and other creditors to restructure its debt. The company, which is assuring ... More

MERGERS & ACQUISITIONS

Andersen partners to move court against mergers
JUST as Arthur Andersen was beginning to believe that things couldn't possibly get worse, they have: A group of its former partners are moving to ask a US federal court to block the various merger deals that it is currently negotiating on the ... More

BILT has no plans for newsprint production
EVEN though Ballarpur Industries Ltd (BILT) of the L.M. Thapar group has submitted an expression of interest (EoI) for the purchase of 74 per cent of the equity in the state-owned Hindustan Newsprint Ltd (HNL), BILT has no plans to enter the ... More

Greaves divests stake

CORPORATE GOVERNANCE

DCA framework for corporate governance
THE Department of Company Affairs (DCA) has started deliberations on developing a comprehensive framework to ensure and promote good corporate governance. The Secretary, Department of Company Affairs (DCA), Mr Vinod Dhall, held a meeting with ... More

NEW PROJECTS

Times group launches `Radio Mirchi'
ENTERTAINMENT Network India Ltd (ENIL), a wholly-owned subsidiary of Bennett Coleman and Company, has launched its FM channel, Radio Mirchi in Pune city. The company is now gearing up to make the FM channel available in Delhi, Kolkata and ... More

GSK Consumer's plant to begin production in Q3
THE Rs 252-crore plant for the manufacture of Horlicks, GlaxoSmithkline (GSK) Consumer Healthcare Ltd's flagship product, was inaugurated at Sonepat, Haryana, by Dr J.P.Garnier, CEO, GSK Plc, UK. Commercial production at the plant is expected ... More

Dragoco India's new plant goes on stream
A Rs 18.5-crore plant of Dragoco India Ltd was inaugurated here today. The plant can produce 3,000 tonnes of fragrances and flavours. In its seven years of existence, the Rs 86-crore Dragoco India was producing fragrances and flavours from ... More

ALLIANCES & JOINT VENTURES

Andersen partners join Ernst & Young -- Business consulting kept out
ERNST & Young (E&Y) has become the largest professional services firm in the country, with the Andersen partners here announcing on Friday that they are joining E&Y. Mr Kashi N. Memani, Chairman of E&Y's India operations, will be the Chairman ... More

R&D facility at ICICI knowledge park

OUTLOOK

HCL Insys upbeat on notebook market
AT HCL Infosystems' Noida office, the Marketing Chief, Mr Jyotin Verma, flaunts the new Toshiba Portege 2000 notebook around. ``This is the world's thinnest laptop,'' he exclaims as colleagues gather to see the product, priced at an over Rs ... More

Satyam to strengthen geographical reach
SATYAM Computer Services Ltd, the software services major, has drawn up a multi-pronged strategy to compete better in the marketplace, which includes strengthening its regional focus in the existing and emerging markets. To meet the challenges ... More

PERFORMANCE

Cement sector output crosses 100-mt mark
LARGE cement plants in the country together produced 102.4 million tonnes of cement in 2001-2002, which is 9.39 per cent higher than the previous financial year (93.61 mt). Production during March 2002 crossed the 10-million tonne mark, the ... More

LML sales dip in April
LML Ltd on Friday said its scooter and motorcycle sales together fell 38.16 per cent in April to 9,870 units as against 15,960 vehicles sold in the same month, last year. The Kanpur-based LML, which once had a technical and equity participation ... More

RSP employees told to buck up
ROURKELA Steel Plant (RSP), which is trying to achieve near-capacity utilisation in the current fiscal, has been told to focus on improving its financial performance. The loss-making plant, which is trying to enrich its topline by making ... More

PEOPLE

M.S. Oberoi dies at 103
THE father figure of the Indian hotel industry and Chairman, Oberoi Group, Rai Bahadur M.S. Oberoi, passed away on Friday at the age of 103. Born in a village in the erstwhile-undivided Punjab, now in Pakistan, Mr Oberoi started his career in ... More

The Grand pays quiet condolence
IT is business as usual for The Grand, Kolkata, the second-oldest property in the Oberoi stable. The mood in the quiet corridors of this stately hotel was subdued, the staffers busy as usual, their routine broken only by a brief condolence ... More

NEW PRODUCTS & SERVICES

Maruti launches new Alto variant
MARUTI Udyog Ltd on Friday said it was launching a new variant of the Alto's base version by fitting it with power steering. The Alto LXi will be priced at Rs 3.19 lakh ex-showroom Delhi, according to a company statement. "Our research shows ... More

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M.S. Oberoi dies at 103

The TDS milch cow

Cement sector output crosses 100-mt mark

The ebb-flow match continues for IT cos

Wheat MSP a `mirage' outside Punjab, Haryana

Pvt sector allowed into primary healthcare

Land bridge to Lanka to cost $500 million

In Depth
Inside Kashmir

Guide to derivatives

US-64

Looking back
Apr. 21-Apr. 27
Dipping mining sector fortunes forced Atlas Copco's hands?

Dabhol: GE won't budge on surety

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

HDFC Standard does Rs 1,266-cr business