The Hindu Business Line : Saturday, June 28, 2003

BILT hosts reverse auction for inputs
IN a bid to have a secure base of suppliers, Ballarpur Industries Ltd (BILT) has started hosting reverse auctions for procurement of inputs like pulp, paper, chemicals and logistics on its own engine instead of depending on service providers like ... More

DRL set for US launch of hypertension drug
DRUG major Dr Reddy's Laboratories will be in a position to launch the modified generic version of Pfizer's $2.5-billion blockbuster anti-hypertension drug `Norvasc' in the US in the next two months. The company is also preparing to file for ... More

Glaxo sells Bangalore property

Mirza's 20 pc final

OPEN OFFERS

Golden Carpets promoters told to make open offer
IN a significant development, the Securities and Exchange Board of India (SEBI) has directed the Golden Carpets Ltd (GCL) promoter to make an open offer to GCL shareholders. It observed that the promoter of the Hyderabad-based Golden Carpets Ltd ... More

MANPOWER

Bata India proposes to rationalise workforce
CONSIDERING that the huge fixed costs, mainly contributed by wages, account for as much as 26 per cent of the total turnover of the company, the Rs 694-odd crore Bata India Ltd has decided to take up a major exercise to rationalise its workforce, ... More

RESTRUCTURING

HLL's notice to shareholders on oils biz transfer
HINDUSTAN Lever Ltd (HLL) has issued notice to its shareholders to consider and to pass, an ordinary resolution to transfer of Edible Oils and Fats business to Bunge Agribusiness India Pvt Ltd. The last date to submit postal ballot forms is ... More

MERGERS & ACQUISITIONS

Coromandel Fert emerges highest bidder for GFCL stake
COROMANDEL Fertilisers Ltd (CFL) has emerged as the highest bidder for the Andhra Pradesh Government's 25.88 per cent stake in Godavari Fertilisers and Chemicals Ltd (GFCL) when the Implementation Secretariat (IS) of the State Government opened ... More

HBL Nife promoters propose to buy out Swedish partner
THE Indian promoters of HBL Nife Power Systems Ltd, the Hyderabad-based Rs 176-crore battery manufacturer, propose to acquire the equity holding of its foreign promoter, the Sweden-based Sab Nife AB. On the existing paid-up equity capital of Rs ... More

Citigroup arm may pick up stake in Jindal Iron
"We feel the steel industry worldwide will witness another good year with China as the main driver." More

Stamp duty problems stall Jay Shree Tea merger plan
PROBLEMS related to stamp duty have stalled the proposed merger of the two subsidiaries of Jay Shree Tea and Industries Ltd into the company, according to the Managing Director, Mr D.M. Jain. He was addressing the 57th annual general meeting of ... More

CORPORATE GOVERNANCE

Key parameters to judge corporate governance
THE seven key parameters to judge the corporate governance of an organisation are governance strategy, risk management policy, ownership structure, composition of board and its accountability, compensation policy, investor rights and transparency ... More

SICK UNITS

Siris unable to take cover under SICA
THE Andhra Pradesh-based pharma company, Siris Ltd., has been unable to find cover under the Sick Industrial Companies (Special Provisions) Act (SICA). Rejecting the reference filed by the company as `non-maintainable,' the Board for ... More

DCB withdraws BIFR case against Pitti Laminations
TO pave the way for a smooth clearance of rehabilitation package, Development Credit Bank (DCB) has decided to withdraw the petitions filed before the Board for Industrial and Financial Reconstruction (BIFR) against Pitti Laminations Ltd (PLL), ... More

OUTLOOK

Cummins seeks parents' range
THE country's largest diesel engine manufacturer Cummins India ltd on Friday said it is in discussion with the parent company for the exclusive supply of at least a couple of range of engines and a variety of components to the group's worldwide ... More

Eureka Forbes to tap new export markets
AQUAMALL Water Solutions Ltd., the manufacturing arm of Eureka Forbes that markets the popular Aquaguard brand of water purifiers, is targeting new export markets this year. "The additional markets that we are focusing on this year are Malaysia, ... More

Haier sounds domestic majors for tie-ups
CHINA'S Haier Group, a $8-billion consumer durables major, will set up a 100 per cent subsidiary in India after the Foreign Investment Promotion Board (FIPB) and the Ministry of Finance cleared its proposal on Thursday. It becomes the first ... More

Reinventing paying off, says NIIT
NIIT Technologies, the software division of NIIT Ltd, has identified insurance, airlines and retail industries as its key focus areas in a major strategic shift, a top company official has said. The decision to `re-invent' the business and ... More

PEOPLE

Addl director on Aurobindo board

Scoreboard
SE Diary

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