The Hindu Business Line : Tuesday, January 21, 2003

Delhi Centaur to renovate 125 rooms
THE Air India subsidiary, Hotel Corporation of India (HCI), which runs the Delhi Centaur, is planning to take up renovation of another 125 rooms to make them world-class products. Sources told Business Line that HCI plans to approach the ... More

ANNOUNCEMENTS

NPIL to replace nimesulide with `Vah'
EVEN as the debate goes back and forth on the use of nimesulide, a popular fever drug, Nicholas Piramal India Ltd has decided to phase out its version of the drug, Orthobid and replace it with Vah (Valdecoxib), touted to be a "better drug with ... More

BUYBACK

SRF drops buy-back proposal
THE board of directors of nylon tyre cord manufacturer SRF Ltd on Saturday decided against proceeding with the earlier announced buy-back programme of 9.7 million equity shares of the company at Rs 24 per share through tender offer route. This ... More

MANPOWER

BHPV charge against Govt
VISAKHAPATNAM: The Bharat Heavy Plate and Vessels (BHPV) National Employees' Union here has charged the Government with deliberately denying work orders to the public sector unit to force the staff to opt for the golden handshake ... More

MERGERS & ACQUISITIONS

Granules MD offloads 12.66 pc equity holding
MR C. Krishna Prasad, the chief promoter and Managing Director of Granules India Ltd (GIL), the Hyderabad-based Rs 62-crore pharmaceutical company specialising in granulated paracetamol, has decided to divest significant holding in the company ... More

Ind-Swift kicks off merger plan
THE Chandigarh-based Ind-Swift today announced its decision to merge its two group companies, Mukur Pharma and Swift Formulations, with Ind-Swift Ltd. The move would bring a basket of brands, estimated to be about Rs 10 crore, under the fold of ... More

RIGHTS ISSUES

Shriram group boards okay rights issues at 2:1
"The growth in (disbursements to) truck segment is very vibrant and we have a good infrastructure across the country to disburse loans," Ms Akhila Srinivasan, Managing Director, said. More

SICK UNITS

AB Corp: I-T Dept asked to take speedy decision on reliefs
THE Board for Industrial and Financial Reconstruction (BIFR) has asked the Income-Tax Department to take a quick decision on the reliefs to be granted to the Big B's entertainment company, Amitabh Bachchan Corporation Ltd (ABCL) now known as AB ... More

OUTLOOK

Apollo Tyres looking for acquisitions in China
APOLLO Tyres Ltd, in its bid to become a transnational company, is on the look-out for acquisitions in China, Indonesia, and Africa. "Right now the discussions with a Chinese company are in the advanced stage" and a final decision is expected ... More

Honda pins hopes on Accord — New model launch next fiscal
HONDA Siel Cars India is all set to rejuvenate its business in the premium D segment of the domestic car market where its Accord model is positioned. The company is gearing up to launch the latest generation Honda Accord in India in the first ... More

Exide plans to boost exports to Rs 100 cr
BATTERY maker Exide Industries has said that it plans to offset poor Government spending with higher exports, which is expected to reach Rs 100 crore in two years. The Exide Chairman and Chief Executive Officer, Mr S.B. Ganguly, told ... More

Thermax eyeing acquisitions
THERMAX Ltd is eying acquisitions for inorganic growth through with an increased focus on the company's international operations. Though the corporates it would like to consider are yet to be finalised, the company's balance sheet provides the ... More

Lucas-TVS arm to focus on preventive solutions
LUCAS Indian Service, the Rs 120-crore subsidiary of Lucas-TVS (which is owned by the TVS group) is looking to strengthen its position as an auto electrical solution provider by focusing on providing preventive maintenance solutions. According ... More

PERFORMANCE

SAIL improves realisation of net sales, but volumes down
EVEN as Steel Authority of India Ltd (SAIL) improved its net sales realisation (NSR) over the last three quarters of the current fiscal, its sales volumes are somewhat behind target, according to available information. Sources told Business ... More

Self-reliance, volumes drive TVS Motor's success
TVS Motor Company, which energised the domestic motorcycle market with the indigenously developed `Victor' and dispelled in the process the myth of foreign collaboration as a must for success, is one manufacturer that seems happy to enter market ... More

BOC net up 11 pc on higher sales
BOC India has recorded an 11 per cent growth in sales at Rs 82.96 crore for the third quarter ended December 31, 2002 over the corresponding period in the previous year. The company's PBT for the quarter has increased to Rs 2.01 crore (up from ... More

M&M auto sales up 29 pc in Apr-Dec 2002
MAHINDRA & Mahindra Ltd (M&M) informed on Monday that its auto sector had registered a 29 per cent sales growth over April-December 2002, notching up total vehicle sales of 58,679 units as against the 45,487 units of the previous corresponding ... More

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