The Hindu Business Line : Saturday, June 14, 2003

Eternit Everest to modernise 3 units
HAVING registered a turnaround, Eternit Everest Ltd (EEL), the Thane-based Rs 211-crore asbestos cement sheet company that was acquired by the Associated Cement Companies Ltd (ACC) during last year, now plans to take up projects for ... More

ANNOUNCEMENTS

Britannia board decision on Alagh `unanimous'
BRITANNIA Industries Ltd on Friday said there were no differences between the members of the board over the decision to terminate the employment of Mr S.K. Alagh as Managing Director of the company. "The decision with regard to the termination ... More

ABG Industries plans foray into foreign ports
ABG Heavy Industries Ltd, a major player in port and infrastructure development, which has implemented a financial restructuring programme, is planning foray in overseas port infrastructure development projects. The company, which has been ... More

Dr Reddy's to present research findings at US meet
DR Reddy's Laboratories Ltd, the Hyderabad-based drug major listed on the New York Stock Exchange (NYSE), has announced that it would be presenting six abstracts, representing its discovery research findings, at the 63rd Scientific Sessions of ... More

PSL bags IOC order
PSL Ltd has bagged an order to the tune of Rs 122.85 crore from public sector Indian Oil Corporation Ltd. "This order for supply of pipes conforming to API specifications 5LX 65 grade is the largest single order in terms of length, entrusted to ... More

CORPORATE DISPUTES

Dettol, Ayush row whips up `antiseptic' lather
IT is now the turn of soaps Dettol, from the Reckitt Benckiser stable and Ayush from Hindustan Lever Ltd (HLL) to lather up a debate on the fine line between `an antiseptic soap', `an anti-bacterial soap' and `an ayurvedic medicinal preparation ... More

FashionTV, Modi Group spat continues
THE spat between Fashion TV (FTV) Paris and its distribution partner - Modi Entertainment Television - took another turn with FTV preparing a civil-criminal charge against Mr Lalit Modi and the Modi Group in France and in India. FTV in a ... More

ENVIRONMENT

Thermometer plant issue — HLL acted responsibly, says Banga
THE controversy surrounding Hindustan Lever Ltd's (HLL) thermometer plant in Kodaikanal took centrestage for a while at the company's AGM here on Friday, until the Chairman, Mr M.S. Banga, strongly refuted the charges raised by the environmental ... More

RESTRUCTURING

To transfer 54 pc stake in Gujarat Glass — Nicholas Piramal forms new holding co
PHARMACEUTICAL major Nicholas Piramal India Ltd (NPIL) is creating a new holding company, Nicholas Holding Company (NHC), to transfer its 54 per cent stake in Gujarat Glass Pvt Ltd (GGPL), a move NPIL says, will halve its debt burden and improve ... More

MERGERS & ACQUISITIONS

Rama Newsprint up for sale — ICICI scouting for buyers
RAMA Newsprint Ltd (RNL), the largest newsprint manufacturing company in the country with an annual installed capacity of 1,50,000 tonnes, located near Surat in Gujarat, is up for sale. The lead bank for the company — ICICI Ltd — has ... More

NEW PROJECTS

Samsung likely to set up $10 m watch facility
SAMSUNG Watch Corporation is planning to invest around $10 million for setting up a manufacturing facility for its watches in India. According to Mr D.H. Chung, Executive Director - Export Division, Samsung Watch Corporation, the facility ... More

$15-m IFC loan for Balrampur Chini expansion plans
The International Finance Corporation (IFC), the private sector arm of the World Bank, has signed an agreement with Balrampur Chini Mills Ltd to provide a rupee loan equivalent to $15 million to the sugar company to help in its capacity expansion ... More

REGULATORY BODIES & RULINGS

DCA panel against curbs on pricing of pref allotments
Unlike in the case of listed companies, where the pricing has to be necessarily linked to the market price, the DCA committee has taken a position that unlisted public companies need not adhere to market price or fair price while making such allotmen ts. More

Investigators seek more time for Flex probe
THE independent investigator appointed by the Department of Company Affairs (DCA) to probe into charges against Flex Industries has sought extension of time from the department to submit its investigation report. Confirming this official ... More

ALLIANCES & JOINT VENTURES

Venkateshwara Hatcheries to manufacture FMD vaccines
THE Rs 1,300-crore Venkateshwara Hatcheries group is all set to get into the business of manufacturing vaccines for the dreaded foot and mouth disease (FMD) which played havoc with economies around the world a couple of years ago. The company ... More

Rane Brake, LuK tie up for clutch discs
LUK India Ltd and Rane Brake Linings will introduce asbestos-free clutch discs for the after market, according to a press release. The tie-up provides for Rane Brake Linings to supply LuK India their AF4059 grade of asbestos-free clutch facings ... More

STANDARDS & BENCHMARKS

Lee Pharma gets Brazilian accreditation
LEE Pharma (P) Ltd, a Hyderabad-based pharmaceutical company, has announced that it has obtained accreditation for its product - Omeprazole - as a reference standard by Brazilian Pharmaceutical Committee for its official monogram to be ... More

SICK UNITS

Travancore Rayons revival — Final decision next week?
The High Court, which had granted one-month extension last time, has now allowed only 15 days more. Therefore, it is high time that the Cabinet came out with a final and positive decision, it is felt. More

Pennar Profiles unsure of revival
PENNAR Profiles Ltd (PPL), the ailing aluminium profiles manufacturer belonging to the Hyderabad-based Pennar group currently under the purview of the Board for Industrial and Financial Reconstruction (BIFR), is highly unsure of its viability in ... More

OUTLOOK

Tanishq sets Rs 400-cr turnover target
TANISHQ, the jewellery brand from the Titan Industries stable, has set a turnover target of Rs 400 crore for the current fiscal as against Rs 331 crore last year. "The Rs 1,000-crore branded jewellery segment in the country has been recording a ... More

Blackberrys turnover target at Rs 100 crore
THE Gurgaon-based Mohan Clothing Co Pvt Ltd, manufacturer of the Blackberrys brand of readymade menswear and ladieswear, has targeted a turnover of Rs 100 crore during the year ending March 31, 2004. In 2002-03, the company clocked a turnover of ... More

HPL draws up road map for value-added exports
HALDIA Petrochemicals Ltd (HPL), as per a new road map drawn up for value-added exports, has set a production target of 2,500 MTM (metric tonne per month) for HD carry bags and 1500 MTM for PP woven bags. Making a presentation on "Value added ... More

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