Financial Daily from THE HINDU group of publications
Thursday, June 20, 2002
Markets (June 19)
BL 2501132.81 (-13.25)
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ANNOUNCEMENTS


Usha Beltron plans to revert to old name — Unveils Rs 120-cr steel investment
USHA Beltron Ltd, the flagship company of the Usha Martin group, is planning to change its name back to Usha Martin within this fiscal. Dr P. Bhattacharya, Joint Managing Director, UBL, told reporters here today that the company had changed its ... More

Santro 1.0 litre phased out at retail level
HYUNDAI Motor India has phased out the 1.0 litre Santro at the retail level. This step follows the launch of its higher capacity 1,100-cc Santro Zip Plus, earlier this year. The Santro Zip Plus sports a more powerful engine that would help it ... More

German co to complete RSP project in 18 months
SALZGITTER AG of Germany, which has won the contract for upgradation of the `electric resistance welded' (ERW) pipe plant of the Rourkela Steel Plant (RSP), will complete the job within 18 months of signing of the contract. Mr Sanak Misra, ... More

BUYBACK


SEBI files writ against Sterlite
FACED with several complaints from investors, the Securities and Exchange Board of India (SEBI) on Wednesday filed a writ petition against Sterlite Industries (India) Ltd in the Bombay High Court seeking a stay on the company's scheme to purchase ... More

OPEN OFFERS


Indian Syntans wants SEBI to look into Bayer offer
THE Chennai-based Indian Syntans Investment Pvt Ltd, which holds 4.5 per cent stake in Aventis CropScience India Ltd, has sought intervention by the Securities and Exchange Board of India (SEBI) on the proposed open offer of Bayer to Aventis ... More

MERGERS & ACQUISITIONS


Parent stake in Reckitt Benckiser goes up to 87%
RECKITT Benckiser Plc has increased its stake in Reckitt Benckiser (India) to 87 per cent subsequent to the open offer to acquire the balance 49 per cent public shareholding in RBIL. The open offer which was made at a price of Rs 250 per share, ... More

NEW PROJECTS


Zimmer tech for Indo Rama Nagpur plant
THE Rs 1,900-crore Indo Rama Synthetics (I) Ltd today announced that Zimmer AG of Germany would provide the technology support, knowhow and equipment for the company's Rs 490-crore brownfield expansion project at its existing facility at ... More

ALLIANCES & JOINT VENTURES


It's destination Kerala for IBP's tourism drive
PETROLEUM refining and marketing major IBP Co Ltd and the Department of Tourism, Kerala, (Kerala Tourism) propose to enter into an agreement as part of the former's "overall promotional initiatives in tourism-related areas''. As per the terms ... More

INTERVIEW


`Stress on value-addition is paying off for Bhushan Steel'
"We are not interested in putting in a very large unit of three million or 3.5 million like Tata Steel or even Essar. We are interested in a captive hot-rolled coil plant, so that we can produce about 1.2 to 1.5 million tonnes in the first phase, whe re everything can be used in-house." More

SICK UNITS


NTC arm to implement Rs 390-cr rehab plan
NTC (APKKM), one of nine subsidiaries of the National Textile Corporation, plans to increase production of yarn and cloth by 12-15 per cent in 2002-03 apart from implementing the `sanctioned rehabilitation plan' suggested by BIFR. Speaking to ... More

Gujarat Lyka out of BIFR net
THE erstwhile sick industrial company, Gujarat Lyka Organics Ltd (GLOL), since merged with Sun Pharmaceutical Industries Ltd (SPIL), has been discharged from the purview of the Board for Industrial and Financial Reconstruction (BIFR). At the ... More

OUTLOOK


Philips hopes to save Rs 7 cr via mergers
PHILIPS India Ltd (PIL) hopes to achieve cost savings of around Rs 7 crore per annum after wholly-owned subsidiary Electric Lamp Manufacturers (I) Ltd (ELMI) and sister companies like Punjab Anand Lamp Industries Ltd (PALI) and Philips Glass ... More

PEOPLE


Swaminathan is Vorin Lab MD
VORIN Laboratories Ltd, the Hyderabad-based Rs 169-crore pharma major controlled by Ranbaxy Labs, has appointed Mr V. Swaminathan as its new Managing Director. The resignation tendered by the current Managing Director of the company, Mr N. ... More
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Jun. 9-Jun. 15
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