Financial Daily from THE HINDU group of publications
Friday, September 06, 2002
Markets (Sept. 5)
BL 2501096.66 (+1.33)
BSE Sensex3181.47 (+8.12)
S&P CNX Nifty1008.60 (+1.65)
Dollar (Buy/Sell)48.44/48.57
Gold Std (10 gm)5200 (+40)

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ANNOUNCEMENTS


BST bags domestic order
BANGALORE: BST Ltd (formerly BPL Sanyo Technologies Ltd) has bagged an order to manufacture 25,000 Digital Satellite Receivers of the Celeste-11 variety worth Rs 4 crore. These sets are being manufactured specifically for the Indian ... More

Punjab Tractors to pay 70 pc
THE board of directors of Punjab Tractors Ltd (PTL) has recommended a 70 per cent dividend on its equity shares of Rs10 each. The company has also declared its audited financial results for the financial year 2001-02. PTL's net profit has ... More

Vizag Steel prepays loan to UTI
VIZAG Steel Plant (VSP) has prepaid Rs 155 crore of loan taken from UTI and has cleared a Rs 100 crore instalment by raising loans at a softer interest rate from the Canara Bank. A release said that through good treasury management, it saved ... More

Rane Brake bags Rs 30-cr Rlys order
RANE Brake Linings Ltd (RBL), a friction material manufacturing company situated at Pregnapur in Medak district here, has bagged an order worth Rs 30 crore from the Indian Railways for the supply of rail blocks. According to its President, Mr ... More

BHEL bags Rs 80-cr order from Hindalco
BHARAT Heavy Electricals Ltd (BHEL), the premier power equipment major, has bagged a contract from Hindalco Industries Ltd for the manufacture and supply of an environment-friendly cogeneration plant. The 41-MW plant is to be set up by BHEL for ... More

AUDITING


ICAI on the `level-playing' debate
DEMAND for a ban on multinational firms poaching into auditing is what has been making news recently among the accounting profession in the city. An `action committee' has been formed and quite a few senior CAs addressed its convention last ... More

COURTS/LEGAL ISSUES


HC stays penalty on Birla Corpn
THE Calcutta High Court has stayed an order passed by the Jute Commissioner on Birla Corporation Ltd, imposing a penalty for violating the Jute Packaging Order. Birla Corporation had moved a writ petition challenging the order of the ... More

ACCOUNTANCY


Multi-disciplinary practices not to hit Indian CAs' ambitions in UK
INDIAN chartered accountants' attempts to gain practising rights in the UK will not be adversely impacted by the likely trend of allowing multi-disciplinary practices by professional firms in that country, according to Mr Peter Wyman, President, ... More

HUMAN RESOURCES


The language of business goes global
NOT long ago, it was technology with management studies that was the toast of the job markets. Now a French, Japanese or a German language tag is the next big thing that can land you MNC jobs that otherwise wouldn't be yours. Thanks to ... More

RESTRUCTURING


Eveready initiates loan revamp drive with IL&FS
EVEREADY Industries India Ltd has initiated a major loan restructuring drive involving an arrangement with Infrastructure Leasing & Financial Services (IL&FS) and three of its associate companies - Natex Investment & Marketing, Williamson ... More

MERGERS & ACQUISITIONS


Asian Paints to buy 50.1 pc stake in Berger International
ASIAN Paints India Ltd today announced its decision to acquire 50.1 per cent controlling stake in the Singapore-based Berger International Ltd for a consideration of Rs 57.6 crore. Berger International Ltd (BIL) has no operations in India and ... More

NEW PROJECTS


Hiranandani group to set up hospital in Powai
THE Mumbai-based real estate major, the Hiranandani group, is to set up a 110-bed hospital at Powai near here. A formal announcement of the same will be made in a week, according to Mr Niranjan L. Hiranandani, one of the promoters of the Rs ... More

REGULATORY BODIES & RULINGS


Technical fee for Libero, Enticer — FIPB grants permission to Yamaha to pay parent
THE Foreign Investment Promotion Board (FIPB) has recommended grant of permission to Yamaha India to use four new trademarks - owned by Yamaha Motor Company (Japan) - for its four-stroke motorcycles in the Indian market. This includes ... More

ALLIANCES & JOINT VENTURES


Qualigen pact with Pall Pharmalab
MUMBAI: Qualigen Fine Chemicals (QFC), a division of GlaxoSmithkline Pharmaceuticals Ltd, has entered into a strategic agreement with Pall Pharmalab Filtration Private Ltd, a subsidiary of Pall Corporation, US, for marketing a range of analytical ... More

SICK UNITS


Cabinet okay to shut HFC, FCI units
THE Union Cabinet today approved the recommendations of a Group of Ministers (GoM) to close down two units of Hindustan Fertiliser Corporation (HFC) and the Fertiliser Corporation of India, respectively. At its meeting here, the Cabinet agreed ... More

OUTLOOK


Bosch Power Tools eyes larger market-share
EVEN though the market is yet to mature as in the West, the power tools segment in India is growing at 15 per cent, keeping alive the hopes of players in the organised sector to enhance their market-share. The Rs 350-crore market for power ... More

Amara Raja eyes gains from partner's Varta unit buy
THE Chennai-based Amara Raja Batteries Ltd expects to benefit from its strategic alliance partner, Johnson Controls' acquisition of Varta's automotive battery division through improved market access in the Asia-Pacific region, Europe and ... More

NTPC confident of completing thermal projects in 3-4 years
EVEN as the chance of setting up of any new thermal power plant by independent power producers (IPPs) is not in sight, the state-owned National Thermal Power Corporation (NTPC) is confident that it will be able to complete all its ongoing thermal ... More

M&M to hike production of Scorpio
WITH the enthusiastic response to its latest sports utility vehicle, the Scorpio, Mahindra & Mahindra (M&M) is looking to increase its production at its manufacturing facility. According to Mr Alan Durante, Executive Director & President, ... More

TRENDS


Unknown fears
WE always move from the `known' to the `unknown', philosophers say. But there are problems when we are faced with the `unknown' too abruptly, like a pothole in a street bend. Which is why Bombay Stock Exchange's confession that there are more ... More
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