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Thursday, May 09, 2002

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MODERNISATION


Gloster Jute to modernise; rules out retrenchment
GLOSTER Jute Mills Ltd is contemplating modernising its century-old unit to increase efficiency, but the management has ruled out any retrenchment of the existing workforce. Unlike other jute mill owners, Mr Hemant Bangur, Director of Gloster ... More

ANNOUNCEMENTS


SRL Ranbaxy targets Rs 250-cr turnover -- Unveils new corporate identity
SRL Ranbaxy Ltd (SRL), a medical laboratory testing company, expects to increase its annual turnover from the current level of about Rs 45 crore to Rs 250 crore over the next five years. This was stated by Mr Malvinder Mohan Singh, Director of ... More

Mahanagar Gas to invest Rs 50 cr in infrastructure
MAHANAGAR Gas Ltd (MGL), Mumbai's sole compressed natural gas (CNG) distributor, plans to invest more than Rs 50 crore in setting up and upgrading CNG distribution infrastructure during the fiscal, Mr A.K. Purwaha, Managing Director, has said. ... More

OPEN OFFERS


Padmalaya Enter, Zee hike Padmalaya Tele offer size
ZEE Telefilms Ltd and Padmalaya Enterprises Pvt Ltd (PEPL), which had earlier come out with an open offer to acquire 20 per cent of the equity shares of Padmalaya Telefilms Ltd (PTL), the Hyderabad-based television programming, animation software ... More

MERGERS & ACQUISITIONS


Parent to pick up balance stake in Carrier Air
CARRIER Aircon Ltd may join the list of companies getting delisted, with its foreign parent officially set to make an offer to buy the company's entire floating stock. Should this happen, listed air conditioning companies here would be reduced ... More

Shareholders okay transfer of HLL unit to Johnson Wax
THE shareholders of Hindustan Lever Ltd (HLL) have approved the transfer of the company's business of industrial and institutional cleaning, known as Diversey Lever, to Johnson Wax Professional Private Ltd. The shareholders have approved the ... More

NEW PROJECTS


Top 15 account for Rs 53,760 cr -- Investments in 62 projects shelved
TOP corporate houses in the country as well as public sector undertakings and multinationals have either shelved or postponed a total of 62 projects involving a combined investment of Rs 77,682.33 crore during financial year 2001-02, according to ... More

Snecma sets up Indian arm
SNECMA, the leading French aerospace company, announced here on Wednesday the setting up of its Indian subsidiary and design and research centre at Bangalore. The subsidiary, called Snecma Aerospace India (SAI), comes with an initial investment ... More

ALLIANCES & JOINT VENTURES


Sun Micro, PwC tie up
PRICEWATERHOUSECOOPERS, India (PwC) and Sun Microsystems India Pvt Ltd have formed an alliance to provide Customer Relationship Management (CRM) solutions to Indian companies. The tie-up in India is an extension of PwC and Sun's global ... More

New Horizons in India via joint venture
THE world's largest independent IT training company, US-based New Horizons, has finally entered India, at a time when domestic computer education market is struggling in the wake of global technology meltdown. New Horizons is setting up ... More

RIGHTS ISSUES


BILT finalises price for rights issue
A COMMITTEE of directors of Ballarpur Industries Ltd (BILT) has finalised the price at which the company proposes to issue equity shares on a rights basis. At a meeting on Tuesday, the committee approved the letter of offer that proposed the ... More

SICK UNITS


Karnataka picks up stake in Himkap
THE Chandigarh-based Himalayan Vegefruit Ltd, which recently acquired the Doddaballapur-based Sun Crush Fruits Pvt Ltd, is shedding 26 per cent of its stake in favour of the Karnataka State Agricultural Produce Processing and Export Corporation ... More

OUTLOOK


HP sees bright future in India
THE post-merger HP would have a bright future in India, said the new HP President in India, Mr Balu Doraiswamy. ``In an emerging market such as ours, size does matter,'' he said, speaking to presspersons on the first day of the new company's ... More

PERFORMANCE


Q4 results prove elusive for investors
A STRING of blue-chip companies have opted to come out with audited results for the full year instead of publishing the unaudited results of the fourth quarter (Q4) of the just concluded fiscal 2001-02. This has deprived the investors of ... More

Iffco Kandla puts quake behind to record robust production
THE disruption caused by the massive Gujarat earthquake has not come in the way of Indian Farmers Fertiliser Cooperative Ltd's (Iffco) plant here recording an all-time high output of complex phosphatic nutrients during 2001-02. During the year ... More

BOC India net up at Rs 2.58 cr
BOC India Ltd has reported profit before tax and extraordinary items of Rs 3.6 crore for the year ended March 31, 2002, up 100 per cent over last year. The net profit after tax at Rs 2.58 crore showed an improvement of 44 per cent over the ... More


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