The Hindu Business Line : Wednesday, May 28, 2003

Hyundai cries foul against two private insurers
IN an unprecedented development, Hyundai Motor has accused two major private insurance companies of unfair practice and plans to take them to court and file a complaint against them with the Insurance Regulatory and Development Authority ... More

Reva in talks with IFC to raise funds
INTERNATIONAL Finance Corporation (IFC), the World Bank's private sector lending arm, expected to pick up a stake in India's first electric car company, Reva, at a substantial premium. "We are negotiating the details as the valuation is under ... More

Lyka Labs close to sign $10-m deal with European co
THE Rs 250-crore Lyka Labs Ltd is close to inking a $10-million contract-manufacturing deal with a European company for a drug in the cardio-vascular segment. The contract estimated at around Rs 50 crore ($10 million) would be spread over 18 ... More

CESC Mulajore unit to be shut down by Dec
THE Mulajore Power Station of CESC Ltd, the flagship company of the RPG Goenka Group, is going to be shut down by December 2003, sources said. The process would begin after the Pujas in October. This would make redundant nearly 500 ... More

COMPANY LAW

Banking cos exempt from curbs on loans to directors
DIRECTORS of banking companies and private companies which are not a subsidiary of a public company have something to cheer about. They can look forward to a regime in which they would not be required to conform to restrictions such as a special ... More

`Cos Bill is built on theme of confidence'
ANY liberalised regulatory framework does not come for free. If corporate India wants a liberal regulatory set-up, it must gear to shoulder more responsibility by ensuring greater transparency in its functioning. This is the thinking behind the ... More

MERGERS & ACQUISITIONS

BILT to buy 38% stake in APR Packaging
BALLARPUR Industries Ltd (BILT) on Tuesday announced that its board of directors has approved the acquisition of approximately 38 per cent equity capital of APR Packaging Ltd from BILT Paper Holdings Ltd (BPHL). APR Packaging is engaged in the ... More

SICK UNITS

`NTC land sale likely to elicit good response'
THE National Textile Corporation (NTC)'s holding company may have some cause to rejoice as its Tamil Nadu subsidiary could elicit quite a few good responses for the latter's surplus land sale proposal. The Tamil Nadu subsidiary of NTC, in its ... More

OUTLOOK

Super Spinning plans to increase yarn outsourcing
SUPER Spinning Mills Ltd, the flagship textile company of Sara Elgi group, which has given a push to value-added textile production through forward and backward linkages to its core business of yarn manufacturing, has planned to enlarge capacity ... More

Wipro Tech bullish on infrastructure services
WIPRO Technologies, the IT services arm of Wipro, is bullish about its Technology Infrastructure Services business to boost revenues. The business grew 10 times in the last three years for Wipro and now contributes $44 million, or 8 per cent of ... More

Bajaj Electricals sees Rs 450-cr revenue
BAJAJ Eletcricals Ltd is expected to report revenue close to Rs 450 crore for financial year 2002-03, up from Rs 417 crore a year ago. The appliances division is expected to contribute close to Rs 100 crore in last fiscal's top line, Mr P.S. ... More

PERFORMANCE

Tata Engineering: Powering ahead
IT is an emphatic return to the dividend list for Tata Engineering after a gap of two years. The company's 2002-03 numbers underline the dramatic turnaround in its performance in the last two years. Much of the good performance can be ... More

Scoreboard
SE Diary

Comments & Letters to the Editor to: bleditor@thehindu.co.in
Subscribe to: Business Line