Financial Daily from THE HINDU group of publications
Saturday, September 14, 2002
Markets (Sept. 13)
BL 2501060.91 (-7.70)
BSE Sensex3098.94 (-32.40)
S&P CNX Nifty992.00 (-9.65)
Dollar (Buy/Sell)48.38/48.51
Gold Std (10 gm)5235 (+5)

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ANNOUNCEMENTS


ONGC seeks to market branded LPG
THE Oil and Natural Gas Corporation (ONGC) has sought rights to market liquefied petroleum gas under its own brand name. Currently, the company sells close to 1.2 million tonnes LPG through oil marketing companies - IOC, BPCL and HPCL. The ... More

IBP looking to sell abroad
IBP Co Ltd, a subsidiary of Indian Oil Corporation (IOC), is looking into opportunities for marketing its petroleum products outside the country. Mr A.K. Sinha, acting Managing Director as well as the Finance Director of IBP, while talking to ... More

MK Electric products to promote green building
MK Electric (India) Ltd is launching its integrated intelligent building solutions to help integrate the concepts of green building into construction activities. Mr R. Parasuraman, Managing Director, MK Electric (India) Ltd, told newspersons ... More

PREFERENTIAL ALLOTMENTS


Pref allotment to come under takeover code
The SEBI has removed the clause in the takeover code that hitherto exempted preferential issues made under Section 81(1A) of the Companies Act from the regulations relating to mandatory public announcement and consolidation of holdings under the code . More

OPEN OFFERS


Technip told to make open offer in Seamec
THE Securities and Exchange Board of India (SEBI) has directed Technip Coflexip (formerly Technip SA, France) to make an open offer to the shareholders of South East Asia Marine Engineering and Construction (Seamec) for 20 per cent shares of the ... More

AWARDS & HONOURS


  • Fellowship for J.J Irani

    MERGERS & ACQUISITIONS


    Vorin Labs, Medicorp set to merge with Matrix — Boards to meet on Sept 19
    IN a major development, three listed pharmaceutical companies based in Hyderabad, one of them controlled by Ranbaxy Labs and the other having significant holding by the Chennai-based Shriram group, are moving towards merging into a single entity ... More

    Shriram group to sell Hi-Tech Arai stake — In talks with foreign allies
    THE Chennai-based Shriram group is in talks with Mitsubishi Corporation and Arai Seisakusho for selling its 45 per cent equity stake in Hi-Tech Arai Ltd. Both the Japanese companies are equity partners in the Rs 75-crore Hi-Tech Arai, with ... More

    Greenfield shadow over SCI sell-off
    THE controversial Greenfield Shipping deal in which Shipping Corporation of India (SCI) holds a 20 per cent stake worth $11 million has come to haunt the privatisation of the state-owned shipping line. The SCI board, at its meeting slated for ... More

    Gujarat HC approves RIL-RPL merger
    THE Gujarat High Court today approved the merger of Reliance Petroleum Ltd with Reliance Industries Ltd. With this approval, Reliance Industries Ltd (RIL) will become India's first private sector Fortune 500 company, a news release said. The ... More

    Citicorp to limit stake in Shriram group to 14.9%
    CITICORP Finance (India) Ltd will take only a 14.9 per cent equity stake, each in Shriram Investments Ltd and Shriram Transport Finance Company Ltd, as against 19.9 per cent as proposed earlier. This is because of the "imminence" of the new ... More

    SICK UNITS


    AAIFR to begin hearing on Dunlop revival
    EVEN as the management of Dunlop India Ltd (DIL) has pleaded its inability to finalise the accounts for the financial year ended March 2002, the Appellate Authority for Industrial and Financial Reconstruction (AAIFR) is ready to begin its ... More

    OUTLOOK


    ITC e-choupals soon to sell life insurance
    ITC'S Secunderabad-based agri business division has decided to distribute life insurance products and some food items through its e-choupal network. It has also planned to offer rural market research data and analysis as a new service. Mr S. ... More

    Vikrant Tyres hopes to bounce back into black
    VIKRANT Tyres Ltd, a subsidiary of J.K. Tyres Ltd, expects to be back in black and report net profit by the end of the 2002-03 fiscal. "Our continuous endeavour is to be a profitable company," the company's President and Director, Mr A.K. ... More

    Gujarat Ambuja rules out capacity expansion now
    GUJARAT Ambuja Cements Ltd has ruled out any fresh expansion in capacity but aims to maintain its existing growth rate, which is twice the present average Indian cement industry's growth. This was stated by Mr Narotam Sekhsaria, Managing ... More

    `HR practices help Leyland turn around'
    A HOLISTIC approach to human resource management, processes and optimal utilisation of resources have contributed to the turnaround at Ashok Leyland's Hosur-I plant and ensured sustained increase in profits during the current year, according to ... More

  • Hindalco output seen hit by rains

    PERFORMANCE


    Sterling timeshare owners' concern over losses
    THE Sterling Resorts Timeshare Owners' Association (SRTOA), at its annual general meeting, has noted with concern that the company continues to suffer loss and has extended its financial period to 18 months that ended on June 30, 2002. The ... More

    ECONOMIC OFFENCES


    Checking the explosion of corporate fraud
    Financial scams have exploded in India and abroad. While the Indian corporate world has been afflicted by such scams continuously from the days of Harshad Mehta to Tata-A. F. Ferguson now, the American scene appears to be much worse. T. C. A. Rama nujam examines the recent Indian and international trends in dealing with financial frauds and suggests how the proposed Serious Frauds Office should work for effective results. More

    NEW PRODUCTS & SERVICES


    Hero Honda launches `Ambition' in South
    THE "powerfuel" 133 cc motorbike, that promises to give 79 km per litre, `Ambition' was launched in the south from Bangalore, by Hero Honda here on Friday. Ambition's engine uses an advanced microprocessor ignition system that helps in ... More

  • Consul launches energy saver
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  • Top Stories
    Gujarat HC approves RIL-RPL merger


    Telecom operators' capex put at Rs 1,30,000 cr

    Much at stake for Govt in IFCI bail-out

    Fertiliser trade counts on rabi revival to offset setback

    Insulin prices hiked; TB drugs to cost less

    Textile, plantation sectors drag export growth — Modest growth in gem, jewellery, petro goods

    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


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