The Hindu Business Line : Wednesday, February 05, 2003

BSES calls EGM on diversification
BSES Ltd, the Mumbai-based power utility company, which has recently become part of the Reliance group, is seeking shareholders' approval to enable the company's future diversifications. The company has called an extraordinary general meeting ... More

Cairn Energy strikes oil, gas in Rajasthan
CAIRN Energy, the Scotland-based exploration company, has struck oil and gas for the third time in an exploration block in Rajasthan acquired from Royal Dutch Shell last year. Preliminary estimates indicate oil production of around one million ... More

SCI plans to pay interim dividend
WITH the disinvestment process slowly gathering steam, Shipping Corporation of India (SCI) is mulling over a plan to pay interim dividend to the Union Government if the company is privatised before March 31. The Shipping Ministry and the ... More

ACCOUNTING STANDARDS

`I-T to play key role in finance, accountancy'
TECHNOLOGIES in general, and information technology, in particular, would play a vital role in the emerging profile of professionals of accountancy and finance, according to the Chairman and Managing Director of InfoTech Enterprises Ltd, Mr ... More

CORPORATE DISPUTES

ICMDR in pact with CII for mediation services
THE Indian Centre for Mediation and Dispute Resolution (ICMDR) and the Confederation of Indian Industry (Southern Region) has signed a Memorandum of Understanding (MoU) to enhance awareness of alternate dispute resolution systems and to offer ... More

FINANCIAL PERFORMANCE

Canon posts 34 pc revenue growth
DIGITAL imaging products company, Canon India Ltd, has announced an increase of 33.77 per cent in revenues, which has grown from Rs 151 crore to Rs 202 crore for the year ending December 31, 2002. In a press release issued by the company on ... More

Lamina Foundries 9-month profit at Rs 1.6 crore
THE Mangalore-based Lamina Foundries has earned a profit of Rs 53.59 lakh for the quarter ended December 31, 2002, as against a loss of Rs 34.34 lakh during the corresponding quarter of the previous financial year. The company has earned a ... More

FOREIGN DIRECT INVESTMENT

S.C. Johnson seeks FIPB nod to buy 50% stake in 'Allout' maker
THE US-based S.C. Johnson & Sons' Indian subsidiary, S.C. Johnson Products Pvt Ltd, has moved the Foreign Investment Promotion Board (FIPB) seeking permission to buy out a 50 per cent stake in Karamchand Appliances Pvt Ltd (KAPL). KAPL is a ... More

RESTRUCTURING

Chennai Petro seeks to prepay OIDB loan
The company has been planning to put up some facilities at/off Ennore port to receive VLCC bringing in crude oil. However, the Chennai Port Trust, not wanting to let go of CPCL's business, has offered to lower the wharfage for its crude tankers. More

MERGERS & ACQUISITIONS

E&Y to suggest swap ratio for Lanco outfits
ERNST & Young Pvt. Ltd has been roped in by Lanco Industries (LIL), the Rs 98-crore pig iron and Portland slag cement manufacturer, to suggest the swap ratio for the proposed merger of Lanco Kalahasthi Castings Ltd (LKCL), a Rs 100-crore closely ... More

ALLIANCES & JOINT VENTURES

MOTUL to join hands with Atlantic Lubricants
THE lubricants major MOTUL of France has parted ways with Stanrose Mafatlal Group in India by mutual agreement. It has decided to join hands with Atlantic Lubricants and Specialities Pvt. Ltd for marketing the products in India. The new set-up ... More

INTERVIEW

`We are going ahead with expansion' — Mr Rakesh Govil, Head, Corporate Strategy and Treasury, Moser Baer
MOSER Baer India Ltd is one of the largest optical media manufacturers in the world - - the company claims it is number three. Even during these trying times for technology firms, Moser Baer continues to record impressive growth quarter ... More

OUTLOOK

Avalon Consulting sees scope in overseas assignments
AVALON Consulting (formerly Business Consulting Group) sees a good scope for doing research and consulting work for overseas clients. The company is on the verge of forming joint ventures in Oman and Saudi Arabia, for sourcing business. The ... More

PERFORMANCE

Hyundai Motor's January sales cross 10,000 units
KOREAN automobile manufacturer, Hyundai Motor India Ltd, has registered its highest ever January sales this year. The company sold 10,235 units in January this year, bettering its January 2002 high of 10,010 units. According to the company, ... More

Britannia's operating margins may expand
BRITANNIA Industries Ltd is likely to sustain the momentum in its operating margins expansion in the next financial year, analysts said. The hive-off of the fast growing dairy business into a joint venture with New Zealand Dairy has helped in ... More

LML motorcycles sales up 198 pc in Jan
LML has said its its motorcycle sales have jumped by 198.7 per cent to 14,477 units last month from 4,864 units during the same period last year. Sales for the first ten months of the current financial year (April 2002 to January 2003) stood ... More

Honda Siel sales rise 50 pc
HONDA Siel Cars India Ltd today said sales of its City and Accord cars in January grew by 50 per cent to 1,460 units against 974 units sold in the same month last year. During April-January period of the current fiscal, Honda Siel sold 11,018 ... More

NEW PRODUCTS & SERVICES

Ranbaxy launches generic version of anti-AIDS drug
IN the first step towards tackling the issue of multi-drug resistance, homegrown pharma company Ranbaxy Laboratories Ltd on Tuesday launched its generic version of Abacavir, a "next generation" anti-retroviral (ARV) or anti-AIDS drug. Ranbaxy's ... More

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