Financial Daily from THE HINDU group of publications
Thursday, January 23, 2003
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ANNOUNCEMENTS


Parrys Confectionery on the block
THE tidings may not be sweet for Parrys Confectionery Ltd (PCL), the confectionery arm of the Rs 4,200-crore Murugappa group. Despite successful brands such as Parry's Eclairs, Lacto King and Coffee Bite — the Chennai-based group is open to ... More

COURTS/LEGAL ISSUES


LG India to move SC over HC ruling
LG Electronics India, one of the major sponsors of the World Cup, has decided to appeal to the Supreme Court against the Delhi High Court order barring outflow of foreign exchange if India was debarred from playing in the World Cup. "We are ... More

RESTRUCTURING


Dabur to take up pharma demerger next week
DABUR India Ltd is slated to take up the demerger of its pharmaceutical business at its board meet, scheduled to be held early next week. Other issues related to the restructuring of the company's business are also expected to come up at the ... More

MERGERS & ACQUISITIONS


Tata Chem set to buy Hind Lever Chemicals
HIND Lever Chemicals Ltd (HLCL), an associate company of Hindustan Lever Ltd (HLL), is proposed to be merged with Tata Chemicals Ltd (TCL). The boards of both companies are meeting on Friday to consider the proposal and decide on the share ... More

Escorts to sell 27.21% in Goetze to Joint Invest
THE board of directors of Escorts Ltd at its meeting to be held on January 27, will give its approval for the sale of the company's 27.21 per cent stake in auto components manufacturer Goetze India Ltd to Joint Investments Pvt Ltd. Joint ... More

PIB approves ONGC plan for stake in MRPL
THE Public Investment Board (PIB) on Wednesday cleared Oil and Natural Gas Corporation's proposal to acquire a controlling stake in the ailing Mangalore Refinery and Petrochemical Ltd (MRPL). The PIB nod clears the decks for a Cabinet ... More

Merger with Hind Lever Chemicals — A win-win proposition for Tata Chem
THE merger of Hind Lever Chemicals Ltd (HLCL), an associate company of Hindustan Lever Ltd (HLL), with Tata Chemicals Ltd (TCL) augurs well for the latter as it has been seeking to grow in the fertiliser business. Tata Chemicals' name was ... More

Tata Chem - Hind Lever Chemicals: A merger made in heaven
THE proposed merger of Hind Lever Chemicals with Tata Chemicals appears to be driven by two factors. One, though both companies derive the bulk of their revenues from similar businesses, their product portfolios are complementary to each other, ... More

OUTLOOK


Shasun plans foray into formulations
SHASUN Chemicals & Drugs plans to enter the manufacture of tablets (formulations) in order to supplement its existing bulk drug business. The proposed venture will be its first shot at formulations, said Mr S. Vimal Kumar, Finance ... More

Used car biz not to hit new car sales: Maruti
MARUTI Udyog Ltd does not believe that the expansion of its pre-owned cars business will cannibalise sales of its new cars, especially the entry level Maruti 800. The company says that the profiles of those going in for a used car and those ... More

Ranbaxy targets 50% sales from US
PHARMA major Ranbaxy Laboratories is expected to garner 50 per cent of its overall sales from its US operations in a couple of years, according to Dr D.S. Brar, Chief Executive Officer and Managing Director, Ranbaxy Laboratories. At an analyst ... More

ECONOMIC OFFENCES


`There is a crisis of trust in companies worldwide'
TRANSPARENCY International (TI), the Berlin-based global anti-corruption watchdog, is launching the Global Corruption Report 2003, its second annual report on the state of corruption around the world. The book, being launched simultaneously in ... More

PEOPLE


New team to head KPMG
NEW DELHI: KPMG India on Tuesday announced a three-member new leadership team to succeed Mr Gautam Dalal, current Chairman and CEO of the firm, from February 1. Mr Dalal will return to the UK office of KPMG in a significant global ... More

  • Zahed appointed HMT chief

    TRENDS


    Reliance to mark silver streak
    RELIANCE Industries, the company credited with ushering the equity cult into the country, celebrates the silver jubilee of its going public tomorrow. Marking the occasion, the group has calculated that an initial investor in RIL has earned ... More
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    In Focus
    Kelkar Report
    Telecom Competition
    Oil PSUs: Disinvestment dilemma
    NPAs in Banking
    In Depth
    Gender Justice
    Simple Economics
    India Interior
    Consumer Notes
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    Industry Analysis
    2002: A drought year
    Gold: Still the winner?
    Books and Reviews
    Looking back
    Jan. 12-Jan. 18
    IOC plans to foray into African markets

    No limit for investment in overseas cos, clarifies RBI

    Directors not liable for certain FI defaults


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