Financial Daily from THE HINDU group of publications
Friday, August 09, 2002
Markets (Aug. 8)
BL 2501045.55 (-16.73)
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Dollar (Buy/Sell)48.61/48.74
Gold Std (10 gm)5170 (+70)

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CORPORATE

MODERNISATION


HPCL to spend Rs 3,000 cr on refinery upgradation
HINDUSTAN Petroleum Corporation Ltd (HPCL) plans to invest up to Rs 3,000 crore over the next two years for the modernisation of its Trombay and Visakh refineries to ensure that the products meet Euro-III specifications. The feasibility studies ... More

RESEARCH & DEVELOPMENT


Suspended diabetes drug trials: What's in store?
AS many as 2,500 diabetic patients in over 30 countries were subjected to clinical trials of the controversial anti-diabetic drug. The trials have now been suspended. The drug, DRF 2725, had been licensed to the Danish drug major, Novo Nordisk, ... More

ANNOUNCEMENTS


Roots Ind lining up slew of launches for auto sector
ROOTS Industries Ltd (RIL) Coimbatore, a major manufacturer of automotive electric horns, is launching a slew of automotive accessories, some of which are in technical collaboration with manufacturers abroad. First off the block will be `Roots ... More

TNPL move to use captive plantation of eucalyptus
THE Tamil Nadu Newsprint and Papers Ltd (TNPL) is in discussions with Tamil Nadu Forest Corporation to raise eucalyptus plantations to meet a part of its raw material requirement, according to Mr A. Velliangiri, Director (Finance), TNPL. The ... More

First Med's nephrology unit in Chennai
CHENNAI: The First Med Hospitals in Chennai of the Apollo Hospitals group has opened a specialised centre for nephrology, according to a company release. The modern dialysis centre and nephrology unit will offer personalised care to ... More

BUYBACK


SRF Polymers board okays buyback plan
THE board of directors of the Rs 130-crore SRF Polymers Ltd has approved a proposal for the buyback of up to 25 per cent of the fully paid-up equity capital of the company. A company official said that the proposed buyback, which would be made ... More

ESOPS


Digital GlobalSoft ESOPs
BANGALORE: Digital Globalsoft Ltd has informed the Bombay Stock Exchange that the HR committee of the board of directors of the company has approved 4,19,000 stock options to be granted to its employees under the employee stock option ... More

Wipro stock options for employees
BANGALORE: Wipro Ltd has informed the Bombay Stock Exchange that the board of directors vide circular resolution effective August 01, 2002 resolved to issue and allot 337 equity shares of Rs 2 each pursuant to the exercise of stock ... More

NEW PROJECTS


Pollution clearance is Chemplast's last hurdle
CHEMPLAST Sanmar Ltd, which has finalised funding for the Rs 500-crore, 1,70,000-tonne PVC project, has just to clear one more formality, to begin work on the project — that of getting clearance from the Tamil Nadu Pollution Control ... More

ALLIANCES & JOINT VENTURES


Promotion of SEZs, industrial parks — Srei Capital in pact with Singapore consultant
The strategic alliance assumes significance, "considering Srei's exposure to core infrastructure development in India, with increasing focus on financing of infrastructure projects." More

XPS Cargo signs pact with Chinese firm
XPS Cargo Services, the express cargo division of Transport Corporation of India Ltd (TCI), has signed a memorandum of understanding with the Chinese Government-owned China National Foreign Trade Transportation Corporation (Sinotrans) for ... More

SICK UNITS


Trayons revival remains uncertain
The entire process, according to the officials, would take some more time. In fact, the Cabinet is yet to decide on the constitution of the sub-committee. More

OUTLOOK


L&T order backlog at Rs 11,878 cr
LARSEN & Toubro Ltd has commenced the current financial year with an order backlog of Rs 11,878 crore, said Mr. S S Marathe, who chaired the AGM of the company here today. The performance of the company during the current year so far has been ... More

Indigo is Tata Engg's brand for sedan slot — New car to be `competitively priced'
The Indigo will be sold through existing Indica dealerships, at present being beefed up to handle the sedan's clientele. More

Tally plans to go multilingual
TALLY, the largest selling accounting software in the country, is planning to go multilingual over the next six months. Mr S.S. Goenka, Chairman, Tally Solutions Pvt Ltd, said the company planned to come out with multi-lingual versions of ... More

Tinplate mulls 40% hike in capacity
AFTER a successful turnaround in 2001-02, Tinplate Company of India Ltd of the Tata Group is considering an increase in capacity by almost 40 per cent over the next one-and-a-half years. According to Mr Bhusan Raina, Managing Director, the ... More

PERFORMANCE


Goldiam Intl posts Rs 3.69-cr profit
MUMBAI: Goldiam International Ltd has reported a 12 per cent increase in net profit at Rs 3.69 crore for the quarter ended June 30, 2002 as compared to Rs 3.29 crore in the year-ago period. Net sales for this period stood at Rs 28.07 ... More

PEOPLE


Twists & turns in search for new SAIL chief
FOR the first time in the 31-year existence of Steel Authority of India Ltd, the Union Government's exercise to select a chairman for the company has had a fallout for which New Delhi's sudden change of stance appears to be responsible. The ... More

TRENDS


CEO salaries outstrip growth of profits
IT was always felt but could hardly be proved. Finally, a study conducted by two faculty members of XLRI (Xavier Labour Relations Institute) has concluded that CEOs of India Inc. have increased their pay packets at a faster pace than the ... More
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Top Stories
Indigo is Tata Engg's brand for sedan slot — New car to be `competitively priced'


No investment limits on new tax-free bonds

Rice export price may be increased further

Hopes of turnaround seen in readymade garment exports

CEO salaries outstrip growth of profits

FII inflow down 80 pc so far this fiscal

In Depth
Gender Justice
Simple Economics
Small Investor
Looking back
Jul. 28-Aug. 3
`BPL is going through mid-course corrections' — Mr H.N. Srinivas, Senior Vice-President, HR

DCA to closely monitor buybacks

Reliance to complete Phase I K-G basin drilling by Dec

RPL used public issue proceeds to buy group co stocks: DCA


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