Financial Daily from THE HINDU group of publications
Tuesday, June 25, 2002
Markets (June 24)
BL 2501129.89 (-1.41)
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Gold Std (10 gm)5340 (+20)

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Scorpio pricing aggressive but not irrational, says M&M
THE "aggressive'' pricing of the new sports utility vehicle (SUV) from Mahindra & Mahindra, `Scorpio', will not hit the company's bottomline, Mr Anand Mahindra, Vice-Chairman & Managing Director, said. "The pricing is aggressive, but not ... More

BSES defers announcement of results
According to sources, the board, which met today, was forced to defer the results announcement after nominees of financial institutions asked that a second audit of accounts be conducted. However, the company informed the BSE that "the meeting ... More

Kisco bags maiden export order
THE new joint venture company Kudremukh Iron & Steel Company Ltd (Kisco), promoted by three public sector units, namely Kudremukh Iron Ore Company Ltd (KIOCL), Metallurgical and Engineering Consultants (India) Ltd (Mecon) and the Metal Scrap ... More

GSPL pipeline commissioned
GUJARAT State Petronet Ltd (GSPL) has commissioned the Rs 30-crore, 25-km Mora-Utran pipeline which will soon be used to carry gas to the Gujarat Electricity Board's (GEB) Utran power station. The present contractual obligation between GSPL and ... More

  • Kirloskar Brothers to pay 45 pc

    BUYBACK


    `Violation of listing agreement' — SEBI tells Parry Agro not to proceed with buyback
    Parry Agro is also said to have disclosed in the public announcement and the draft offer document that the company intended to delist the equity shares from all the stock exchanges on completion of the buyback. More

    HC admits DCA plea against Sterlite buyback
    THE Bombay High Court on Monday admitted the appeal as well as the stay application filed by the Department of Company Affairs (DCA) on the proposed buy-back scheme of Sterlite Industries (India) Ltd. The matter would be taken up for hearing on ... More

    RESTRUCTURING


    Mysore Cements shelves plans to sell off 3 plants — To issue pref shares to IDBI
    THE S.K. Birla group company, Mysore Cements Ltd, has shelved its plan to sell off its plants at Jhansi, Damoh and Narsingarh for the time being in the absence of any serious bidders, according to market sources. Meanwhile, the company plans ... More

    Friday Corpn capital rejig plans hit snag
    WEB content provider Friday Corporation's plans to restructure its capital has hit a roadblock following an apparent lapse in the scrutiny of the declarations made by it to the Reserve Bank of India (RBI). The company had sought approval for ... More

    MERGERS & ACQUISITIONS


    Shaw Wallace, UB join in UDV race
    AT least four players are in the race to buy the Indian whiskies of United Distillers & Vintners (UDV), part of Diageo Plc, which are on sale. The deadline for the bids ended today. The domestic liquor majors, UB Group & and Shaw Wallace & Co, ... More

    SICK UNITS


    BIFR talks tough in Telengana Paper case
    The Bench took strong objection to the fact that the company had neither submitted its audited balance sheet as on March 31, 1998, 1999 and 2000 nor the provisional/ audited balance sheet for 2000-01. More

    OUTLOOK


    Ikon vrooms into the land of samba
    However, unlike in the case of Mexico and South Africa, where the Ikon is sent as completely knocked down (CKD) kits and assembled at Ford's plants in those two countries, the Ikon being sold in Brazil is assembled in Mexico and then sent in a ... More

    IFC to invest $24.6 m in Usha Beltron
    INTERNATIONAL Finance Corporation (IFC), Washington, has decided to invest $24.6 million in Usha Beltron Ltd (UBL). Of this, $3.6 million would be invested as equity while the balance of $21 million would be invested as a 11-year term loan at an ... More


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  • Top Stories
    No plans for fresh VRS offer in banks


    `Retail sector poised to be major employer'

    Ikon vrooms into the land of samba

    Depositor preferences remain in 1-3 yr bucket

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    Farmers don't fancy credit card facility

    Ramco Systems slips into red

    In Depth
    Gender Justice
    Simple Economics
    Guide to derivatives
    Looking back
    Jun. 16-Jun. 22
    Dr Reddy's tops in getting US patents

    Vanishing cos get show-cause notices

    `Bajaj group not breaking up'


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