The Hindu Business Line : Friday, May 24, 2002

Moschip pref issue to APIDC Venture Fund, 12 others
THE APIDC Venture Capital Fund, Gavva Estates, Dynamic Constructions are among the few who will pick up shares in the Hyderabad-based embedded systems firm — Moschip Semiconductor Technology Ltd. The Chief Financial Officer of Moshcip ... More

CORPORATE DISPUTES

Correction

RESTRUCTURING

Nicco Corpn recasts debt -- Scouts for partners for various businesses
THE ailing Nicco Corporation Ltd has reduced its interest burden by restructuring the debt and is also on the lookout for partners for its different businesses. Talking to Business Line, Dr Abhijit Sen, co-Chairman and Managing Director, ... More

MERGERS & ACQUISITIONS

IOC to divest stake in ONGC, GAIL -- Over Rs 2,500-cr gain seen
INDIAN Oil Corporation (IOC) plans to divest its holdings in Oil and Natural Gas Corporation (ONGC) and Gas Authority of India (GAIL). If it is made at current market prices, the divestment will fetch IOC a profit of a little over Rs 2,500 crore, ... More

Venkey's Foods to merge with VIL
AS per the directions of the Andhra Pradesh High Court, Venky's (India) Ltd (VIL) has convened a meeting of its shareholders on June 1 to consider the scheme of amalgamation of Venkey's Foods (India) Ltd and VIL. Both the companies belong to the ... More

SEBI notice to Matrix Labs for takeover code violation
The Matrix officials said they would be filing a reply to the SEBI notice in a couple of days requesting the regulator to condone the delays committed by the company in complying with the disclosure norms and also exempt it from penalty, keeping in v iew the successful efforts of the new management in enhancing the overall shareholders' wealth. More

Skol approves equity allotment

NEW PROJECTS

Century Ply, Shyam group in ferro silicon venture
THE plyboard manufacturer major, Century Plyboards (India) Ltd, has diversified into ferro silicon through a 50:50 joint venture company with the Shyam group recently. Mr Sajjan Bhajanka, Managing Director of Century Plyboards, said that the ... More

Cuddalore refinery -- Nagarjuna Oil in efforts to rope in Vitol for equity
NAGARJUNA Oil Corporation Ltd, which is putting up a six million tonne refinery at Cuddalore in Tamil Nadu, is holding talks with Vitol, a large global oil distributor and marketer, for the latter to take an equity stake in the project, ... More

RIGHTS ISSUES

Subex rights issue
BANGALORE: Subex Systems Ltd has informed the BSE that the board of directors at its meeting held on Wednesday has decided on a rights issue of equity shares to the existing shareholders of the company up to a size not exceeding Rs 20 ... More

OUTLOOK

Frequent shutdowns may harm Haldia Petro units'
Admitting that working capital was a problem, sources said that every effort was being made to keep operations on an even keel even as the company is yet to finalise financial restructuring. More

PERFORMANCE

Bharat Forge bags $20-m Chinese order
THE Pune-based forgings company, Bharat Forge, has bagged an approximately $20 million order for supply of engine components from a forging company based in Wuxi city of China's Jiangsu province, top company sources told Business Line on ... More

Monsanto reaps rich harvest on good monsoon, more brands
CAPITALISING on a good monsoon and newly consolidated operations, Monsanto India has managed a quantum jump in its financial performance for the year 2001-02. While net sales have improved by nine per cent to Rs 294.48 crore, Monsanto's net ... More

ICI India: Core concentration
ICI India's financial results for the year 2001-02 reflects the company's progress in reshaping its portfolio. Substantial investments have been made into growing core businesses and divisions of Paints, Quest, National Starch and Performance ... More

PEOPLE

HLL head on SBI Caps board

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SE Diary

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IOC to divest stake in ONGC, GAIL -- Over Rs 2,500-cr gain seen

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Indian Bank posts net profit after six years

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Guide to derivatives