The Hindu Business Line : Thursday, October 24, 2002

Fire at Chennai building
CHENNAI: The Chennai office of Nissho Iwai Corporation, a Japanese company that is involved in trading activities here, was gutted in a fire that broke out in a multi-storeyed office building in the city, police and fire department ... More

ANNOUNCEMENTS

Hyundai launches new version of `Sonata'
HYUNDAI Motors India Ltd on Wednesday launched a new version of its luxury sedan `Sonata' priced at Rs 15.90 lakh (ex-showroom Delhi). The ex-showroom Delhi prices of the existing versions of the Sonata range between Rs 11.90 lakh and Rs 13.5 ... More

Schwing Stetter to convert loans in Indian arm into equity
SCHWING Stetter (India) Pvt Ltd, a wholly-owned subsidiary of the German company Schwing Stetter, has sought the RBI's permission to convert the loans given by the parent company, into equity. The loans amount to euro 2 million, approximately ... More

Rallis transfers urea marketing to Tata Chem
THE boards of Rallis India Ltd and Tata Chemicals Ltd have decided to transfer the urea marketing arrangement from Rallis to Tata Chemicals with effect from April 1, 2002. Currently, Tata Chemicals is the only urea manufacturer which does not ... More

KAPL launches cardiovascular drug
BANGALORE: Karnataka Antibiotics & Pharmaceuticals Ltd (KAPL) has launched Taspin, its new fixed dose cardiovascular drug with anti-platelet combination. The drug offers certain therapeutic advantages over traditional anti-platelets, ... More

CORPORATE DISPUTES

Revenue-share row keeps VSNL at a long distance
VIDESH Sanchar Nigam Ltd's plans for national long-distance telephony operations are currently stunted by its deadlock with BSNL and MTNL over interconnect and revenue-sharing for its international long distance operations. Although VSNL is ... More

COURTS/LEGAL ISSUES

Kudremukh case adjourned
THE Supreme Court on Wednesday adjourned hearing of the public interest litigation against Kudremukh Iron Ore Company Ltd (KIOCL) initiated by the non-Governmental organisations (NGOs) and environment protection groups. Today was the second ... More

HUMAN RESOURCES

Shaw Wallace luring old-timer from UB
IT is crossover time again in the liquor industry. This time, the Chhabrias are luring an old-timer from the rival Vijay Mallya camp. Shaw Wallace & Co is likely to rope in the Chief Operating Officer of the UB group's spirits division, Mr ... More

MERGERS & ACQUISITIONS

Clariant told to make open offer for Colour-Chem stake
THE Securities and Exchange Board of India (SEBI) has directed Swiss multinational Clariant International (acquirer) to make an open offer for 20 per cent stake to the shareholders of Colour-Chem. THE SEBI Chairman, Mr G.N. Bajpai, in an order ... More

Glaxo shortlists 2 Indian buyers for Ankleshwar unit
THE GlaxoSmithkline Pharmaceuticals board has shortlisted two Indian companies as buyers for its bulk drug plant at Ankleshwar, Gujarat. The board is expected to take up this at its meeting on October 31. Mr Pradip Nayak, Director, GSK, told ... More

NEW PROJECTS

Sarovar Park to launch property in Gangtok
HOSPITALITY chain Sarovar Park Plaza is set up to become the first branded hotel chain to have a property in Gangtok with the launch of a boutique hotel there scheduled for summer 2003. Mr Noshir Marfatiya, Director (Sales & Marketing), Sarovar ... More

REGULATORY BODIES & RULINGS

13 companies in dock over stock scam
THE Government has cracked the whip on 13 companies, including those controlled by Mr Shankar Sharma, stock broker, Mr Nirmal Bang and the former President of the BSE, Mr Anand Rathi, all facing charges of stock market manipulation dating to ... More

ALLIANCES & JOINT VENTURES

Infosys in alliance with Nigerian co
SOFTWARE major Infosys Technologies today announced that it has entered into an alliance with Kakawa Discount House, Nigeria, a discount house formed by a consortium of key banks in Nigeria. Kakawa Discount House will deploy Infosys' Finacle ... More

vMoksha, S1 Corp join hands
THE Bangalore-based vMoksha Technologies and the US-based S1 Corporation have joined hands to set up a software development centre in Pune. This centre would support the two companies' multi-year contract to develop the next generation S1 ... More

OUTLOOK

Linc Pen launches new product, expects 10% growth this year
THE Rs 58-crore Linc Pen & Plastics Ltd, with a market share of around eight per cent in the organised segment of writing instruments, expects to maintain a 10 per cent growth in turnover this fiscal. Talking to Business Line here on the ... More

Chamundi Silks aims at Rs 75-cr turnover by '04
THE Rs 22-crore Bangalore-based Chamundi Silks, which recently forayed into the soft silk saris segment, hopes to achieve a turnover of Rs 75 crore by 2004. Mr Vairavan, Marketing Manager, Chamundi Silks, said the company was earlier well ... More

PERFORMANCE

Bajaj Auto: Riding on Boxer, Pulsar success
TWO-wheeler major Bajaj Auto has come up with an improved financial performance for the first half of the current financial year. For the six-month period ended September 30, 2002, income from operations improved 21 per cent to Rs 2,385.88 crore ... More

Satyam Computer beats revenue targets
THE earnings performance of Satyam Computer Services (Satyam) for the second quarter ended September 30, 2002 has turned out to be a mixed one. In a challenging business environment, Satyam has exceeded the software revenues and operating profit ... More

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