The Hindu Business Line : Thursday, October 17, 2002

L&T bags power line contract in Abu Dhabi
THE Union Water and Electricity Company (UWEC) on Tuesday awarded a Dh 114.5 million ($31.2 million) contract to Larsen and Toubro (L&T) for the supply and installation of a 400-KV overhead power transmission line. The transmission line will ... More

Work resumes at SPIC plants
SOUTHERN Petrochemical Industries Corporation Ltd has informed stock exchanges that the ammonia and urea plants at Tuticorin that were shut on September 27 have resumed operations. The units were shut down because of a fire in the Hydrofining ... More

EIL declares 27.5% dividend
NEW DELHI: Engineers India Ltd (EIL) has declared a dividend of 27.5 per cent for fiscal 2001. A dividend cheque of Rs 13.96 crore was today handed over by Mr M.K. Dalal, Chairman and Managing Director, EIL, to the Petroleum Minister, Mr ... More

ACCOUNTING STANDARDS

ICAI, DCA consult over schemes of reconstruction
COMPANIES may soon find it difficult to adjust past losses against the securities premium account in their schemes of reconstruction filed with the Courts. The Institute of Chartered Accountants of India (ICAI) is in consultations with the ... More

COURTS/LEGAL ISSUES

Dr Reddy's to challenge US court's verdict
DR Reddy's Laboratories Ltd, the Hyderabad-based pharma major that suffered a setback on Friday with the US federal court's judgment against its battle on Astra Zeneca's patents on Prilosec (Omeprazole), has announced its decision to contest the ... More

CORPORATE BONDS

HPCL sells oil bonds at over 50 paise premium
HINDUSTAN Petroleum Corporation Ltd today sold oil bonds worth Rs 150 crore at more than 50 paise premium for a bond of face value Rs 100. The company is the third oil PSU after Indian Oil Corporation and Bharat Petroleum Corporation Ltd to sell ... More

TRADE & LABOUR UNIONS

FACT employees allege corruption
THE FACT Employees Federation, affiliated to Bharatiya Kamghar Sena, has alleged that corruption by the management has led to the financial crisis of the public sector Fertilisers and Chemicals Travancore Ltd (FACT). Speaking to newspersons on ... More

ALLIANCES & JOINT VENTURES

Ranbaxy arm in marketing venture with Adcock Ingram — To sell anti-AIDS drugs in South Africa
RANBAXY SA, a wholly-owned subsidiary of Ranbaxy Laboratories Ltd, has formed a 50:50 joint venture with Adcock Ingram to exclusively sell and distribute Ranbaxy's range of anti-retroviral (ARV) products or anti-AIDS drugs in South Africa. ... More

OUTLOOK

MMTC turnover set to touch Rs 10,000 cr
CASHING in on the current buoyant trend in the country's exports and on the back of its vast experience in bulk handling of materials, MMTC Ltd is "hopeful" of touching a turnover of Rs 10,000 crore by next year in its export and import business ... More

Kinetic group sees growth in economy segment
TWO-WHEELER manufacturer Kinetic is set to tap the economy segment in a major way. It has already made a fresh beginning in this direction through the launch of Boss, its new brand of motorcycles. The Rs 1,200-crore turnover group, which has ... More

Alembic sets sights on regulated markets
ALEMBIC Ltd, the Baroda-based pharma company has set its eyes on the international markets, particularly the regulated ones such as the US Europe. The company currently has a small presence in these lucrative markets. Says Mr Atul Barman, ... More

Tata Engg mulls entry into small CV segment
TATA Engineering is considering the possibility of entering the market with small commercial vehicles in keeping with the trend in the marketplace where customers are demanding solutions in the smaller payload segment, Tata Engineering's ... More

PEOPLE

P.S. Pai to lead Murugappa group
MR P.S. Pai has been appointed Executive Chairman of the Murugappa group, "as part of the ongoing effort to professionalise the group." Mr Pai joins the group after serving Wipro Ltd for 23 years, where his last position was Vice-Chairman. Mr ... More

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