Financial Daily from THE HINDU group of publications
Friday, September 27, 2002
Markets (Sept. 26)
BL 2501034.93 (+0.22)
BSE Sensex3014.69 (-6.39)
S&P CNX Nifty969.90 (-0.15)
Dollar (Buy/Sell)48.35/48.48

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CORPORATE

ANNOUNCEMENTS


HPL in talks for 6-month credit for naphtha supplies
ALONGSIDE talks to restructure the company's debt profile, the top brass at Haldia Petrochemicals Ltd (HPL) is trying to negotiate a six-month credit system for its naphtha supplies. Sources said that this was being done to ease the company's ... More

MCF organises safety training
MANGALORE: The UB group's Mangalore Chemicals and Fertilisers (MCF) is organising a month-long safety training programme to cover all the workers of contractors who provide maintenance services. The training programme will cover ... More

CORPORATE DISPUTES


Kishore wants `peaceful co-existence' with Mallya
THE battle between Mr Vijay Mallya and Mr Kishore Chhabria for control over Herbertsons Ltd has taken an unexpected turn. The search for an out-of-court settlement in the 10-year-old dispute has prompted the Chhabria camp to explore "a staying ... More

RESTRUCTURING


Saregama changing track for comeback
SAREGAMA India Ltd (SIL), the erstwhile Gramophone Company of India (GCI), has decided to go for a rejig of its operations in order to get back into pink of health. Mr Abhik Mitra, Managing Director of the company, told Business Line, ... More

MERGERS & ACQUISITIONS


Ranbaxy to pick up 10% stake in Japanese co
RANBAXY Laboratories Ltd (RLL) has officially forayed into Japan, touted to be the second largest global pharma market after the US. The Indian pharma major today announced a business tie-up with Tokyo-based Nippon Chemiphar Co Ltd (NC) and its ... More

Harilela group keen to acquire hotel in India
THE Hong Kong-based Harilela group, having more than 38 years of experience in investment and development of hotels, intends to make its India foray over the next five to 10 years. ``We would be very enthusiastic about acquiring a hotel in ... More

NEW PROJECTS


RPG Life sets up nephrocare unit
RPG Life Sciences Ltd has set up a specialised division to focus on the nephrocare pharma market. The company has a presence in the Rs 90-crore nephrocare market with its product `Azoran' and will support the second product launched in this ... More

Maharashtra Seamless plans expansion
MAHARASHTRA Seamless Ltd is embarking upon a multi-phased expansion plan over the next two to three years. This includes increasing the seamless tubes production capacity from the present one lakh tonnes to two lakh tonnes and increasing the ... More

REGULATORY BODIES & RULINGS


DCA clarification on unpaid dividend
THE Department of Company Affairs (DCA) has issued a clarification on the transfer of "unpaid dividend and other unclaimed amount" to the Investor Education and Protection Fund (IE&PF) putting to rest all the confusion arising out of the ... More

INTERVIEW


APSTC on growth path
THE Andhra Pradesh State Trading Corporation (APSTC) has achieved a modest rise of Rs 10 lakh at Rs 46.1 crore in its turnover for 2001-2002 over that of the previous fiscal, according to Mr S. Balasubramanyam, Managing Director of the ... More

SICK UNITS


BIFR restrained in Jessop case
THE disinvestment aspect of the Jessop & Co Ltd (JCL) case took an interesting turn today in the Calcutta High Court. Mr Justice K.J. Sengupta, in spite of the final order of the Board for Industrial & Financial Reconstruction (BIFR) extended the ... More

OUTLOOK


Saregama says jarring notes may continue
SAREGAMA India Ltd faces another bleak year this fiscal with losses likely to be as high as in 2001-02. While painting this grim picture before the minority shareholders at the annual general meeting, SIL Vice- Chairman, Mr Sanjiv Goenka, held ... More

BPCL plans Rs 7,500-cr outlay during 10th Plan
BHARAT Petroleum Corporation Ltd has planned an outlay of Rs 7,500 crore in the Tenth Plan, Mr Sarthak Behuria, Chairman and Managing Director, told newspersons at the company's post-AGM press conference. Mr Behuria said about Rs 3,500 crore ... More

ETC entry in US, Britain to add to revenue stream
ETC Networks Ltd, a subsidiary of Zee Telefilms Ltd (ZTL), is expected to add more revenue streams in 2002-03 following ETC Punjabi's entry into the UK, the US, Canada, Australia and New Zealand. For the year ended March 2002, ETC Networks had ... More

FedEx realigns biz model; targets high-value exports
FEDERAL Express Corporation (FedEx) has realigned its business model in the Indian sub-continent, following increase in capacity and acquisition of new local associates. Mr Jacques Creeten, Managing Director, sub-continent, FedEx, said that ... More

Pall India targets Rs 100-cr sales — To focus on transfusion medicine
The company plans to introduce its latest product in the transfusion medical segment pertaining to leukocytes depletion shortly. More

Govt switch-over to Safaris will not hit us, says HM
HINDUSTAN Motors Ltd (HM) is unfazed by a reported Government move to allow its senior officials to travel in armour-plated Tata Safaris in the place of Ambassador cars. "Sales of Ambassador cars will not be impacted by any such decision of ... More

Maruti raises Alto export target to 24,000
MARUTI Udyog Ltd has increased the export target for its B-segment car, the Alto, to 24,000 units in 2002-03, following the positive response to the model in European markets. Maruti had initially planned to export 14,000 units of the Alto to ... More

VisualSoft Tech to invite partner to leverage IP — `On course' to achieve steady growth
VISUALSOFT Technologies Ltd, the software services and products company based here, is on course to achieve a steady growth following a major nine-month restructure strategy and is now working towards ways to leverage the IP, created from its ... More

PERFORMANCE


Gujarat Ambuja Lanka arm sales rise 42 pc — Looks for early mover gains
AFTER establishing itself as one of the leading cement producing majors of India, Gujarat Ambuja Cements Ltd is making inroads into the neighbouring market of Sri Lanka. The company has in fact already emerged as one of the largest cement ... More

PEOPLE


Asif Adil, Hazari may join SWC board
SHAW Wallace & Co Ltd is expanding its board with the likely induction of Mr Asif Adil, a former partner of McKinsey & Co, and Mr C.K. Hazari, a former Company Law Board nominee on the SWC board. The company is shortly expected to announce two ... More
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Top Stories
BPCL plans Rs 7,500-cr outlay during 10th Plan


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Rules notified for NPA sale — Banks now better equipped to pursue loan defaulters

NCAER scales down growth rate to 4.8%

Rise in newsprint price likely from October

President, PM set for face-off again?

In Depth
Gender Justice
Simple Economics
Small Investor
Looking back
Sep. 15-Sep. 21
`We will bid for SCI at realistic levels' — Mr Sashikant Ruia, Chairman of Essar group

India Cements in talks with lenders for debt recast

No RBI approval needed for prepaying ECBs up to $100 m

NHPC hopes to be off Govt aid by 2008-09

Electrolux Kelvinator board okays cut in offer size of rights issue

Global operations to drive Asian Paints' sales


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