The Hindu Business Line : Friday, November 01, 2002

Suprajit to spend Rs 2-4 cr on Shah Concabs upgrade
SUPRAJIT Engineering Ltd (SEL), a Bangalore-based automotive cable company, plans to invest about Rs 2 to Rs 4 crore on upgrading Shah Concabs Pvt Ltd, a recently acquired company engaged in heavy duty automotive cables. SEL, which claims ... More

RESEARCH & DEVELOPMENT

UK Govt offers R&D facility to Indian cos
THE UK Government has urged Indian infotech companies to explore research and development (R&D) activities in the UK. It has offered help to set up such facilities. "R&D is very strong in the UK. Major companies such as HP and Microsoft have ... More

ANNOUNCEMENTS

`100% success rate in Godavari gas wells'
RELIANCE Industries Ltd (RIL) today officially announced that it has discovered in excess of seven trillion cubic feet of natural gas in the deep-water block D6 in the Krishna Godavari basin off Andhra Pradesh coast. Making the announcement at ... More

It's `Dadaji' again at AGM
BEREFT of the presence of its founder chairman, Dhirubhai Ambani, the 28th annual general meeting of Reliance Industries (RIL) today wore the sombre garb of a condolence meeting. Over 35 shareholders of the company took to the podium to offer ... More

Bajaj readies new 100-cc bike
FOR the young at heart and age, Bajaj Auto Ltd (BAL), manufacturers of two and three-wheelers, is launching its new 100cc bike in November this year. The vehicle would be priced at Rs 30,000 (inclusive of tax, registration and insurance) on ... More

BBUNL bags African order
BHARAT Bhari Udyog Nigam Ltd (BBUNL) has bagged a $5.5-million order from Societe DEMBA et Fils of Bamako, Mali, for supply of 350 four-wheeler units of container flat and tank wagons. The Exim Bank has extended a $4.5 million line of credit ... More

Buy a Bolero Sportz at under Rs 5 lakh
WITH the introduction of the Bolero Sportz priced at an attractive Rs 4.93 lakh, Mahindra & Mahindra has now broken the Rs 5 lakh price barrier in the multi-utility vehicles segment. An extension of the highly successful Bolero brand - the ... More

BEL hands over invar filters to ISRO
BHARAT Electronics Ltd (BEL) has handed over the first batch of indigenously produced invar filters to Indian Space Research Organisation. The filters are sophisticated precision components to be used in the communication transponders of the ... More

Reliance Infocomm to go on stream on Dec 28
RELIANCE Infocomm Ltd, the Reliance Group company focused on telecom and communications, is expected to launch its phone services on December 28 in villages of Gujarat, according to Mr Mukesh Ambani, Chairman and Managing Director, Reliance ... More

OPEN OFFERS

Reckitt Benckiser to make final offer
RECKITT Benckiser plc along with its subsidiary Lancaster Square Holdings SL is making a final cash offer to purchase the outstanding public shareholding of Reckitt Benckiser (India) Ltd comprising 25,44,522 shares, representing 7.73 per cent of ... More

HUMAN RESOURCES

B-school placements probe new avenues
Which company would you fancy an IIM grad from a top-of-the-league school like Ahmedabad to sign on after passing out? An FMCG company of global repute, a top-ranking investment bank or finance company or a bank would perhaps be the obvious ... More

CORPORATE BONDS

Nicholas Piramal raises Rs 100 cr thru NCDs
NICHOLAS Piramal India Ltd (NPIL) has raised Rs 100 crore by issue of secured non-convertible debentures split into two and three year tranches. The two-year tranche will pay a coupon rate of 6.90 per cent while the three-year will yield a ... More

MERGERS & ACQUISITIONS

Jumbo moves FIPB again to buy out Shaw Wallace
JUMBO World Holdings Ltd has moved the Foreign Investment Promotion Board (FIPB) for the second time seeking permission to acquire the entire 60.93 per cent equity in Shaw Wallace & Company (SWC) currently held by Indian shareholders. The ... More

SSI in talk-mode for acquisition
SSI Ltd is looking at yet another acquisition. The company is talking to about seven companies, mostly overseas, and the size of the acquisition could range between $6 million and $60 million. "There is no time-frame for the acquisition. It ... More

DS Foods teams up with Uttaranchal to market tea
THE Uttaranchal Government and DS Foods — the foods division of the Rs 700-crore DS Group Ltd — are set to ink a joint venture arrangement to market tea. While the project will help in expanding tea plantations in Uttaranchal and ... More

ONGC Videsh to acquire 25 pc stake in Sudan field
ONGC Videsh Ltd (OVL) has agreed to acquire 25 per cent stake in Greater Nile Oil Project, a producing oil field in Sudan, from Talisman Energy Inc of Canada, at a cost of Rs 3,600 crore ($720 million), Mr Ram Naik, Union Minister for Petroleum ... More

Goodlass Nerolac board approves merger scheme
GOODLASS Nerolac Paints Ltd has informed the Bombay Stock Exchange that the Company's board of directors, at its meeting held on October 29, had approved the scheme of amalgamation of GNP (Madras) Ltd, Perungudi, Tamil Nadu and Saurashtra Paints ... More

NEW PROJECTS

Le Meridien plans mega convention centre
KERALA is poised to have the largest convention centre in the country and possibly the biggest one in South-East Asia. ``We will be doubling the capacity of our convention centre from 60,000 sq. feet of air-conditioned space to 120,000 sq. ... More

Godrej Agrovet shrimp feed unit in Chennai
GODREJ Agrovet Ltd has set up a shrimp feed manufacturing facility at Chennai in technical collaboration with Tai Aqua of Taiwan, according to a press release from the company. The collaboration, apart from manufacturing technology, is in areas ... More

REGULATORY BODIES & RULINGS

ACC gets clean chit from MRTPC
ACC has been given a clean chit by the Monopolies & Restrictive Trade Practices Commission (MRTPC) on a contempt petition for alleged breach of the Commission's earlier order, where the company had given an undertaking that it had stopped ... More

ALLIANCES & JOINT VENTURES

TCS, Access2future join hands
HYDERABAD: Tata Consultancy Services (TCS) has tied up with Access2future (A2f) to market its personal finance management software, E.X. Personal Investment Manager, in Andhra Pradesh. A2f is an IT retail company based in Hyderabad. ... More

OUTLOOK

Toshiba India gets new MD; to focus more on power
TOSHIBA India Pvt Ltd, the wholly-owned subsidiary of the Japanese electronic giant, Toshiba Corporation, has announced the appointment of its new Managing Director, Mr Kazuhiko Inamoto. Mr Inamoto, who has been with Toshiba since 1976, sees ... More

Emirates Airline plans fresh investments of $15 billion
EMIRATES Airline, the international airline of the United Arab Emirates (UAE), is currently chalking out new growth strategies to cash in on the major initiatives of Dubai, the second largest of the seven emirates. While the Dubai government ... More

Moser Baer net profit drops; cuts forecast
Net profit of the company for the quarter ended September 2002, stood at Rs 53.14 crore as compared to Rs 54.13 crore in the corresponding quarter last year. More

PEOPLE

Mahindra appoints new director

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Kelkar panel moots excise on processed foods sector — Trade takes up cudgels against recommendations

Pressure on margins of tech biggies seen

B-school placements probe new avenues

ICICI Bank posts Rs 285-cr consolidated net profit

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