The Hindu Business Line : Thursday, November 21, 2002

Promoter sells shares of Godrej Consumer to FII
GODREJ & Boyce Manufacturing Co Ltd has sold 3.15 per cent stake in Godrej Consumer Products Ltd (GCPL) in the open market, the company said in a statement today. The company, which is the promoter of GCPL, sold 18,23,703 shares but did not ... More

Arvind Mills recasts board
THE Arvind Mills Ltd has inducted Mr Deepak Satwalekar, Mr Jaithirth (Jerry) Rao and Ms Rama Bijapurkar on its board as independent directors. Mr Jayesh Shah, Chief Financial Officer, has also been inducted as a whole time director. Mr Deepak ... More

CORPORATE DISPUTES

Now, Coca-Cola files complaint over bottles
THE ongoing `battle of the bottles' between the cola giants — Coca-Cola and Pepsi has moved one step away from a `truce'. It was Coca-Cola's turn on Wednesday to file a complaint with the police. Hindustan Coca-Cola Beverages (HCCB) filed ... More

RESTRUCTURING

Shareholders of Indo Rama to meet on recast
A MEETING of the Rs 1,900-crore Indo Rama Synthetics (I) Ltd's shareholders has been convened on December 13, to consider for approval the proposed restructuring scheme involving the segregation of the spun yarn business of the company into Indo ... More

MERGERS & ACQUISITIONS

UK parent to buy out Escorts in joint venture
ESCORTS Ltd has announced that it has signed an agreement to sell its 40 per cent equity stake in Escorts JCB (EJCB) to the UK-based J C Bamford Excavators Ltd. The divestment would be done partially by buyback of shares and partially by ... More

NEW PROJECTS

Sigma in Indian foray with McIntosh Timber
THE $8-million Dubai-based office and interior fit-out company, Sigma Enterprises, has announced its entry into the Indian market by representing McIntosh Timber Laminates, which is a New Zealand-based company that deals with design, fabrication ... More

Red E to open more food courts
THE Chennai-based Food Alliance plans to take its food court format restaurant — Red E — to Hyderabad, Bangalore and Kochi, according Mr V. Manu Reddy, Executive Director, Food Alliance. The expansion would be through the franchisee ... More

ALLIANCES & JOINT VENTURES

Zydus Cadila ties up with Swiss major to expand range
ZYDUS Cadila Healthcare Ltd (ZCHL), the Ahmedabad-based Rs 589-crore healthcare major, has chalked out a plan to expand its product portfolio of vaccines through overseas arrangements. Towards this, the company proposes to take the technology ... More

SICK UNITS

BIFR confirms closure of Cepham Organics
AFTER exhausting all options to rehabilitate Cepham Organics Ltd, the Board for Industrial and Financial Reconstruction (BIFR) has reiterated its earlier opinion of winding up the chemical company, which was declared sick in 1999. The recent ... More

Pennar Steels to be referred to BIFR

OUTLOOK

TVS Motor hopes to be in top-5 league by 2007-08
TVS Motor Company Ltd hopes to be among the top five 2-wheeler manufacturers in the world with operations in at least five countries by 2007-08, Mr Venu Srinivasan, Managing Director of the company, said here today. "We will make only ... More

Despite adverse product-mix, DSP hopes to post profit
HANDICAPPED as it is by a rather adverse product-mix, Durgapur Steel Plant (DSP) is hoping to make a net profit in the second half of the current fiscal. DSP sources said that if long prices remain firm, the plant would make a net profit in ... More

Zydus upbeat on anti-rabies marketshare
HYDERABAD: IN the Rs 160-crore anti-rabies vaccine market, Zydus Cadila hopes to take a share of 10 per cent in the first year, Mr Nagaraj said. The traditional but unsafe nerve tissue vaccines (NTVs) that are manufactured in the public sector ... More

PEOPLE

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