Financial Daily from THE HINDU group of publications
Tuesday, December 10, 2002
Markets (Dec. 09)
BL 2501109.09 (-15.56)
BSE Sensex3269.31 (-36.98)
S&P CNX Nifty1058.65 (-11.15)
Dollar (Buy/Sell)48.16/48.29
Gold Std (10 gm)5320 (+20)

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ANNOUNCEMENTS


Satyam Infoway is now Sify; new faces on board
THE shareholders of Satyam Infoway Ltd today approved the company's change of name to Sify Ltd. Further, the board is to be reconstituted, following the entry of new investors into the company. In a statement, the company said that the board of ... More

Sahara TV going digital
SAHARA TV, the 24-hour free-to-air general entertainment Hindi channel, has announced that it has set up its own modern multiple channel digital uplink earth station at Noida with both playout and uplinking facility directly from India. With ... More

Hindalco Gurdari mines shut down temporarily
HINDALCO Industries Ltd has informed the Bombay Stock Exchange that operations at its Gurdari mines have been temporarily closed. The company said that on the night of December 3 a group of unidentified armed persons entered into the company's ... More

Scorpio set to become more affordable — New version with engine variant by March
MAHINDRA & Mahindra is all set to make its popular Scorpio model more affordable with plans being firmed up to launch a regular natural aspirated engine version of the sports utility vehicle. The M&M General Manager, Sales, Automotive Sector, ... More

BUYBACK


India Forge plans buyback of 3.75 lakh shares
INDIA Forge and Drop Stampings Ltd has filed a draft letter of offer with the Securities and Exchange Board of India (SEBI) for buyback of shares. According to a SEBI press release, the lead manager to the offer is Aryaman Financial Services ... More

Kesoram to buy back at Rs 40
KESORAM Industries Ltd informed the Bombay Stock Exchange that its board had decided to buy back ordinary shares of the company through market operations at a price not exceeding Rs 40 a share for an aggregate amount not exceeding Rs 18.5 ... More

OPEN OFFERS


Sardas lose battle for BSL
THE Sardas' attempt to acquire a 30 per cent equity stake in the textile company, BSL Ltd, through an open offer has failed Merchant banking sources said that the response to the Sardas' offer was poor. They were able to mop up less than 19 per ... More

AWARDS & HONOURS


Sami Labs bags R&D award
HE City-based Sami Labs Ltd has bagged this year's national award for in-house R&D efforts from the Department of Scientific & Industrial Research (DSIR) in the category of Chemicals and Allied Industries. The award was presented by Mr B.S. ... More

MERGERS & ACQUISITIONS


UB in talks for major stake in Roy's Triumph
THE UB Group is in talks to acquire a majority stake in Triumph Distilleries & Vintners Ltd, which recently took over Guinness UDV's Indian Made Foreign Liquor (IMFL) business. Industry veteran Mr Deepak Roy holds 15 per cent stake in Triumph. ... More

INTERVIEW


`We will put Railways on savings track' — Mr V. Gujral, Vice-Chairman & CEO, Jindal Steel
Indian Railways' additional requirement of rails for the duration of the new programme is placed at 2,00,000-2,50,000 tonnes per annum. JSPL hopes to meet this additional demand. More

DIVERSIFICATION


Emami to diversify into ayurvedic medicines, baby-care range — Beauty Secrets, Fast Relief identified as focus brands
"The portfolio will include baby oils, shampoos and talcs, besides tonics, memory boosters, and anti-cough and cold medicines." More

SICK UNITS


I am ready to quit, says Mardia Chem chief
EXPRESSING keenness for reviving the fortunes of Mardia Chemicals Ltd (MCL), its Chairman, Mr Rasiklal Mardia, today said that he is even willing to quit his post for the welfare of the company and its shareholders. "Mardia Chemicals is like a ... More

Deloitte advises Pennar to sell Isnapur unit
DELOITTE Haskins & Sells (DHS) has advised the management of Pennar Industries Ltd (PIL), the Hyderabad-based ailing cold rolled steel strips (CRSS) manufacturer, to hive off the CRSS facility of the company located at Isnapur in Medak district ... More

Respond to creditors' query, BIFR tells Mardia Chem
THE Board for Industrial and Financial Reconstruction (BIFR) has directed Mardia Chemicals Ltd (MCL) to submit its response on the request made by certain secured creditors that advertisements be issued for change in management if MCL were to be ... More

OUTLOOK


BOC chief bullish on India
"A LOT of changes have overtaken the Indian economy in the past five years. There are some exciting growth opportunities for Indian business to move forward," said Mr Tony Isaacs, CEO of BOC Group Plc, while talking to newspersons here on Monday. ... More

Haldia Petro to focus on western, northern markets
HALDIA Petrochemicals Ltd (HPL), the three-way joint venture company, is now shifting its emphasis from the southern market in favour of the west and the north. Company sources said that HPL now had a 22 per cent share of the total ... More

PEOPLE


Dr Morepen's MD Kartik Raina quits?
DR Morepen's Managing Director, Mr Kartik Raina, is said to have put in his papers. Mr Raina had joined the fledgling `fast-moving health goods' (FMHG) company, Dr Morepen, in October 2001. Having seen some high-profile acquisitions like Burnol ... More
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I am ready to quit, says Mardia Chem chief

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In Focus
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Gujarat Elections
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Bhopal tragedy: Beyond the gas


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