The Hindu Business Line : Thursday, June 06, 2002

Indal not to shut down smelter at Alupuram
The Indal management, on second thoughts, has decided to set up a captive power plant to ensure comparatively low cost power for the smelter, which has the capacity to produce about 13,000 tonnes of ingot per annum. More

Reva to electrify market with new-look version
REVA, the first electric car made in India, is soon to come in a new version within ten months of the concept car having been introduced amidst speculation about its ready acceptance. While the basic structure of the car will remain the same, ... More

Grasim halts production at fibre plant
GRASIM Industries Ltd said Wednesday it has halted production at its staple fibre plant located at Nagda in Madhya Pradesh due to a water shortage. A company spokeswoman said that the shutdown at the textile intermediary unit is from Wednesday ... More

BHEL bags ONGC order

BUYBACK

Britannia buyback

INVESTOR GRIEVANCES

IGF files plaint on VSNL issue
THE Investors Grievances Forum (IGF) has filed an official complaint with the Department of Company Affairs (DCA) against VSNL's investment of Rs 1,200 crore in Tata Teleservices, saying that it went against the interest of small investors. The ... More

MERGERS & ACQUISITIONS

Bayer CropScience open offer for Aventis at Rs 157
BAYER CropScience is making an open offer to acquire 32.92 per cent equity stake in Aventis CropScience at a price of Rs 157 per share. Currently, Bayer CropScience does not hold any shares in Aventis CropScience. However, Bayer CropScience ... More

Phillips Carbon to merge Trans Holdings with itself -- Decision on loss-making units soon
PHILLIPS Carbon Black Ltd, an RPG-group company, is merging its subsidiary Transmission Holdings Ltd with itself. This is the only profit-making subsidiary of the company. The merger is a part of an overall corporate strategy currently being ... More

Kalyani Brakes Japanese ally to offload stake
AT a time when hordes of Indian promoters are selling off to the foreign partners in their joint venture outfits, the Indian promoters of Kalyani Brakes Ltd (KBL), the Pune-based Baba Kalyani group, is moving against the trend and bringing down ... More

Opto Circuits may buy HLL unit
SENSORS maker Opto Circuits Ltd plans to buy the business line of digital thermometers from Hindustan Lever Ltd. (HLL). "Talks with HLL are on, but the deal is yet to be signed'', the Managing Director, Mr. Vinod Ramnani, said. Declining to ... More

ALLIANCES & JOINT VENTURES

DuPont pact with Epcoat for Teflon car-care items
DUPONT has entered into its first brand licensing agreement for Teflon, a registered trademark, in India for consumer products. An agreement has been signed between DuPont and Mumbai-based Epcoat Surface Systems for the marketing of the Teflon ... More

IPOS

`i-flex offer price, a result of combination of factors'
FOR starters, it is the company's maiden public issue being made through the 100 per cent book-building process where the floor price of equity shares of the face value of Rs 5 each has been fixed at Rs 530 per share. This despite the fact ... More

STANDARDS & BENCHMARKS

Bisleri in `troubled waters'
IN what appears to be a storm over a bottle of water, the market-leader of the estimated Rs 1,000-crore packaged water industry, Bisleri has run into a minor ripple. In late April, the company was issued a show-cause notice by the Bureau of ... More

OUTLOOK

Bayer CropScience set for global launch
THE merged entity of Bayer's Crop Protection Business Group with Aventis CropScience SA is ready for launch worldwide. The merger deal aggregating to Euro 7.25 billion was closed on June 3 following the European Commission's approval of the ... More

With question mark on business recast completion... Market pick-up real hope for SAIL in 2002-03
THE important point to emerge when the results of Steel Authority of India Ltd for 2001-02 are considered is that the signs of upturn in the steel market in evidence since April give it hope that 2002-03 will be significantly better. This is ... More

TVS-E sees signs of recovery in Q2 -- Reduces staff strength by 20 pc
AFTER two successive quarters of decline in sales, the city-based TVS-Electronics (TVS-E) is hopeful of making a `neutral' growth during the second quarter (April-June) of 2002, Mr Gopal Srinivasan, Director, TVS-E, told the company's ... More

PERFORMANCE

Dairy biz transfer to hit future earnings
BRITANNIA Industries has announced robust earnings numbers for the year 2001-02. Substantial one-time incomes have also buttressed Britannia's bottomline for the year, with Rs 125.70 crore flowing in from the divestiture of the dairy business to ... More

Finolex profits up 175 pc
FINOLEX Industries Ltd has recorded a growth of 175 per cent in profits and has declared 20 per dividend for the year ended March 31, 2002. According to a release, FIL has changed its accounting year from August-July to March ending for ... More

PEOPLE

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