The Hindu Business Line : Tuesday, October 01, 2002

Taj Krishna to invest Rs 20 cr in renovation
THE Taj Krishna, one of the luxury hotels in the Taj Group in city, will invest Rs 20 crore during fiscal 2003-04 in renovation and launch a discotheque next month. Since, taking up the renovation in 2000, the group has spent Rs 65 crore to give ... More

ANNOUNCEMENTS

Four Ranbaxy products go over-the-counter
Through this foray, RLL seeks to target the estimated $1 billion domestic OTC market and the estimated $50 billion global market. And Ranbaxy has company in this segment as other active players include the highly-visible Dr Morepen, from the Morepen Laboratories stable. More

TTD installs solar cooking system
FROM next month, Tirumala Tirupati Devasthanams (TTDs) will be using the world's largest solar cooking system for providing free meals to the devotees of Lord Venkateshwara under its "Nitya Annadanam" scheme. Gadhia Solar Energy Systems Pvt Ltd ... More

Andrew Yule may shed stake in Phoenix Yule
THE loss-ridden Andrew Yule & Co Ltd (AYL), a Government of India enterprise, in a bid to come out of the difficult financial situation, is planning to shed its entire 26 per cent stake in Phoenix Yule, a joint venture between the Belting ... More

Wockhardt launches new cancer drug
THE Mumbai based pharma major Wockhardt Ltd has introduced a 10,000 iu (international unit) per day version of recombinant erythropoietin, `Wepox'. According to the official press release, the company is targeting the oncology or anti-cancer ... More

ABB bags Rs 235-cr PowerGrid contract
ABB, the power and automation technology group has bagged a large contract from PowerGrid Corporation of India Ltd. (PGCIL) to design, build and install a new power transmission system at Visakhapatnam. The Vizag II high voltage direct current ... More

PREFERENTIAL ALLOTMENTS

Sathavahana pulls back pref offer on new SEBI guidelines
The preferential issue was to result in the promoters consolidating their equity holding at 41.05 per cent from the existing level of 26.33 per cent, while the other investors were to acquire a fresh holding of 9.02 per cent as against no holding at present. More

NEW PROJECTS

Haldia Petro plans 3 new projects
THE joint venture Haldia Petrochemicals Ltd (HPL) has lined up three new projects during the current fiscal to enhance production and exports. These were discussed by the directors at the company's 16th annual general meeting here on Monday. ... More

REGULATORY BODIES & RULINGS

Mismanagement of funds alleged — Govt moves CLB against Eveready
THE Central Government has asked the Company Law Board (CLB) to allow it to appoint directors on Eveready Industries board to effectively safeguard the interest of the company and stakeholders. Considering a reference filed by the Central ... More

Transfer pricing guidelines — Panel moots regulatory regime under Cos Act
THE recent corporate governance abuses both in India and abroad has prompted the Expert Group appointed by the Department of Company Affairs (DCA) to vote in favour of a regulatory regime under the Companies Act to check transfer pricing ... More

ALLIANCES & JOINT VENTURES

Pioneer Online, APTS sign pact
HYDERABAD: Pioneer Online, a Hyderabad-based IT solutions provider, has entered into a memorandum of understanding (MoU) with Andhra Pradesh Technology Services Ltd (APTS) to take up marketing for KM-ATOM a file management solution by ... More

INTERVIEW

`India need not follow western biz model' — UK guru sees Indian strengths too
HE is one of those rare management gurus, who candidly admits that there are several flaws in the western model of managing a business. For, Graeme Salaman, Director of the Business Studies Programme of the Open University Business School, ... More

DIVERSIFICATION

Goldstone Tele plans foray into power sector
GOLDSTONE Teleservices Ltd, the telecom products company, which had earlier this year announced its moves to foray into the IT-enabled services (ITES) space by establishing a call contact centre, is now planning to diversify into products for the ... More

RIGHTS ISSUES

Chettinad Cements to give 2:5 rights
THE Chennai-based Chettinad Cement Ltd is coming out with a rights issue of two new equity shares for every five shares held. The company hopes to raise an amount not exceeding Rs 40 crore through the rights issue. The proceeds of the issue, ... More

OUTLOOK

IOC awaits Govt nod for 10 pc equity issue — Plans Rs 30,000-cr investments in 10th Plan
OIL major IOC has planned Rs 30,000 crore investments during the 10th Five-Year Plan. The company was currently implementing projects worth Rs 12,000 crore, Mr M.S. Ramachandran, Chairman, told shareholders at the company's annual general meeting ... More

United Breweries hopes to be in the black by March
UNITED Breweries Ltd, the stand-alone beer business of Mr Vijay Mallya, expects to report net profit by March-end 2003, top company officials said. "We hope to see net earnings in positive," Mr Ravi Nedungadi, Chief Financial Officer of UB ... More

PEOPLE

Raunaq Singh passes away
THE industrialist and charismatic first-generation entrepreneur, Dr Raunaq Singh, passed away at his residence here early Monday morning. He was 79. Dr Singh was till recently the Chairman of the Rs 1,700-crore Apollo Tyres. Condoling his ... More

New SAIL chief to take charge
THE newly appointed Chairman of Steel Authority of India (SAIL), Mr V.S. Jain, will formally assume charge on Tuesday. The outgoing Chairman, Mr Arvind Pande, on Monday handed over charge to the new incumbent. Mr Jain had been second in command ... More

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Looking back
Sep. 22-Sep. 28
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