The Hindu Business Line : Friday, September 13, 2002

BSNL's broadband offering only in Nov
BHARAT Sanchar Nigam Ltd (BSNL) has put off its broadband offering for its wireline customers across the country by a month. According to official sources, the proposed services which are to include TV broadcast of 40 to 50 simultaneous ... More

Marcus Childs made MD, Xerox Modicorp
NEW DELHI: Xerox Corporation on Thursday announced the appointment of Mr Marcus Childs as Managing Director of Xerox Modicorp Ltd. Earlier, Mr Childs was the Executive Director and General Manager of Xerox's graphic arts business in the ... More

Apar Tech to focus on offshore capabilities — To invest Rs 15 cr on expansion
APAR Technologies Ltd opened its second offshore development centre here and plans to invest a further Rs 15 crore on expansion in India, in keeping with the company's strategy to move operations offshore. Till about a year and a half ago, the ... More

L&T bags Rs 581-cr IOC order
LARSEN & Toubro Ltd has bagged a Rs 580.96-crore lump sum turnkey order (LSTK) from Indian Oil Corporation (IOC) for its refinery expansion project at Panipat. L&T said the order has been awarded to it against international competition. IOC ... More

Hudco to enter realty in small cities
HUDCO has announced its plans to foray into the real estate business in smaller cities. Addressing a press conference, Mr Pankaj Jain, Chairman and Managing Director, said the Habitat Centres were going to be promoted in various State ... More

McDowell to hike borrowing limit to Rs 1,000 cr
MCDOWELL & Co Ltd, flagship entity of the UB group spirits division, plans to increase the borrowing limit up to Rs 1,000 crore, up from Rs 500 crore at present. Highly placed company sources told Business Line that an enabling ... More

Bowrings opens shop in Bangalore

PREFERENTIAL ALLOTMENTS

Fortune Info preferential issue

OPEN OFFERS

Widia India open offer likely soon
WIDIA India Ltd is planning to come out with an open offer to mop up shares held by the Indian public. Though the exact date is yet to be finalised, sources familiar with the developments said that it could be sometime during the third quarter ... More

OVERSEAS BORROWINGS

Cos look homeward to swap liabilities
WITH domestic interest rates continuing to soften and the rupee staying firm, top corporates have been prompted to convert their external liabilities into domestic liabilities. Banking sources said that several corporates had already swapped ... More

RESTRUCTURING

Eveready appoints I-Sec, Rabo Bank to study recast
EVEREADY Industries India Ltd, the flagship company of B.M. Khaitan group, has appointed ICICI Securities and Rabo Bank to find ways of reducing the interest cost, increasing profit and, if necessary, demerging the company into its two ... More

MERGERS & ACQUISITIONS

SEBI to turn the heat on takeover code violators
COMPANIES or individuals who have acquired shares of other firms by violating the provisions of the takeover code may soon find the Securities and Exchange Board of India (SEBI) divesting such shares either through a public auction or market ... More

Indian Hotels acquires Regent Hotel — Makes North Mumbai entry with Rs 452-cr deal
INDIAN Hotels Company Ltd (IHCL) along with ICICI Trustee Services Ltd (I-Ventures) has acquired Lokhandwala Hotels Pvt Ltd's (LHL) Regent Hotel for a total consideration of Rs 452 crore. This marks IHCL's much-awaited entry into the ... More

Tatas buy out Jardine stake in Concorde
THE Tata group has bought Jardine Motors' 50 per cent stake in its joint venture dealership company, Concorde Motors Ltd, set up to market Indica. Concorde Motors Ltd was set up as a 50:50 joint venture between the Tata group and Jardine Motors ... More

REGULATORY BODIES & RULINGS

SEBI fiat to two Orissa-based cos

ALLIANCES & JOINT VENTURES

Barista set to enter Sri Lanka; plans ventures in West Asia
BARISTA Coffee Co Ltd is in advanced stages of discussion for two joint ventures in West Asia, Mr Ravi Deol, Managing Director of the company said. The company is slated to make its first overseas foray through a joint venture arrangement with ... More

UB, S&N venture `to shake up' beer sector
THE newly formed joint venture company of UB group and Scottish & Newcastle will be known as Millennium AlcoBev Ltd (MABL). The company will be headed by Mr Ravi Jain. According to the agreement signed in May, Scottish & Newcastle will invest ... More

DIVERSIFICATION

Pritish Nandy forays into lifestyle market
PRITISH Nandy Communications Ltd (PNC), in a bid to expand its entertainment business, is entering the lifestyle market with the launch of a cafe and bistro. The cafe cum bistro named `Sin' being launched at Moksh, the wellness club of PNC, is ... More

OUTLOOK

Polaris hopes to turn around loss-making arms in 3 years
POLARIS Software Labs expects its loss-making subsidiaries to turn around in 18-36 months. As per the company's annual report for 2001-02, five out of the eight subsidiaries, including Polaris Retail Infotech Ltd, reported losses for the last ... More

Branded product sales — Tata Steel aims at Rs 600-cr turnover
TATA Steel is planning to double its turnover from sale of branded products in this fiscal, according to top company sources. Sources said that a turnover of at least Rs 600 crore was being targeted from the sale of branded products and new ... More

Williamson Magor hopes to cut debt burden
WILLIAMSON Magor & Co Ltd, the holding company of the B.M. Khaitan group, which has accumulated a huge debt of Rs 90 crore, will, in the current financial year, try to reduce the burden by Rs 25 crore. Williamson Magor is now a non-banking ... More

PERFORMANCE

Ashok Leyland August sales up
ASHOK Leyland Ltd sold 2,618 vehicles in August, as against 2,480 in the same month of last year - a growth of 5.5 per cent. In the first five months of the current year, the company's sales rose 13.88 per cent. It sold 12,538 vehicles in ... More

PEOPLE

Unipro chief dead

NEW PRODUCTS & SERVICES

BEML launches equipment for disaster handling
BHARAT Earth Movers Ltd has launched two disaster-management equipment - - the radio control dozer and BE 300 hydraulic excavator - - with attachments like a combi-cutter, grappler and rock breaker. Dr R. Chidambaram, Principal ... More

Scoreboard
SE Diary

Comments & Letters to the Editor to: bleditor@thehindu.co.in
Subscribe to: Business Line

Indian Hotels acquires Regent Hotel — Makes North Mumbai entry with Rs 452-cr deal

RBI directs Global Trust to change auditors

Cotton shippers blacklist `defaulter' textile mills — Stop exports to TN spinners seeking dues

Calling New York cheaper than dialling Delhi?

Industrial growth 6.4 pc in July — CSO data point to revival trend

Productivity-linked reward scheme — Port, dock workers to press for flat 20 pc payment

In Depth
Gender Justice

Simple Economics

Small Investor

Looking back
Sep. 1-Sep. 7
BSNL, MTNL merger plan takes industry by surprise

Bharat Forge to cut interest cost by retiring part of debt

NTPC to float arm for power trading — Maiden deal with Kayamkulam

Cabinet okay to shut HFC, FCI units

Yamaha to outsource bikes from Indian arm