The Hindu Business Line : Wednesday, August 27, 2003

Distribution problems hit `Pure Life' — Nestle India to exit water business
IT has always been choppy waters for Nestle India's bottled water businesses. First it's Perrier and San Pellegrino brands of carbonated water ran into rough weather. And today, after more than two years of trying to get its act right with ... More

Gulf Oil to sell R&D unit buildings for Rs 65 cr
GULF Oil Corporation Ltd, part of the Hinduja group, has decided to dispose of its land and buildings of the erstwhile research and development (R&D) unit located at Malleswaram in Bangalore at a cost of Rs 65 crore. In a communication to the ... More

Wacker-Metroark reviewing biz plans
PLAGUED by power problems, Wacker-Metroark Chemicals Pvt Ltd, an Indo-German joint venture based here, is now taking a relook at its business plans. Sources indicated to Business Line that if things did not improve soon, matters such ... More

Control Techniques to launch special drives for energy saving
CONTROL Techniques India Pvt Ltd, part of the Emersion group of the US, will soon launch an AC variable speed drive, specifically meant for saving power consumption in `heating, ventilation and air-conditioning' equipment. A `variable speed ... More

BPCL bids for Tata Petrodyne
BHARAT Petroleum Corporation Ltd today told the stock exchanges that it has submitted a financial bid for buying the oil and gas exploration company Tata Petrodyne. Tata Petrodyne is a wholly-owned subsidiary of Tata Power. The power company ... More

GKB Opticals plans retail expansion
THE Kolkata-based, Rs 120-crore GKB Opticals group, in the business of manufacturing ophthalmic lenses and other optical products, had formulated expansion plans on the retail front. Mr Lalit Gupta, Director, GKB Rx Lens Pvt Ltd (part of the ... More

Taj Mahal Hotel bookings not hit
THE day after the bomb blast in the parking lot between the Gateway of India and the Taj Mahal hotel here, the flagship property of The Indian Hotels Company Ltd (IHCL) reported very few booking cancellations. "There have been very few ... More

OVERSEAS BORROWINGS

Balrampur raises $10 m thru ECB

COMPANY LAW

Company law must be simplified: FICCI
WITH the industry worldwide experiencing transformation, corporate leaders have been compelled to transform their organisations based on `a new business agenda'. Foremost on this agenda is the growing awareness of shareholders' expectations and ... More

HUMAN RESOURCES

Dr Reddy's convocation programme
DR Reddy's Laboratories Ltd, the Hyderabad-based pharmaceutical major, has organised a convocation programme for its employees here. About 61 of its employees were awarded degrees in MS in Pharmaceutical Operations and Management and MSc in ... More

MERGERS & ACQUISITIONS

Bajaj Hind acquires Monnet Sugar plant
IN what could herald a process of capacity consolidation in the sugar industry, Bajaj Hindustan Ltd has acquired the 5,000-tcd plant of Monnet Sugar Ltd at Unn (Muzaffarnagar district) in Uttar Pradesh. The deal, said to be for a consideration ... More

Japan major to hike stake in Indo Matsushita
MATSUSHITA Electric Industrial Company Ltd, the Japanese major, has informed stock exchanges that it proposes to acquire 12.48 lakh equity shares of the Chennai-based joint venture, Indo Matsushita Carbon Company Ltd and thereby acquire ... More

Aravali plans to buy AP stake in Sirpur Paper
CLOSE on the heels of Murugappas' controlled Coromandel Fertilisers acquiring the Andhra Pradesh Government's holding in Godavari Fertilisers recently through the divestment process, Aravali Securities and Finance is now preparing to acquire the ... More

NEW PROJECTS

GR Cables floats subsidiary in Sri Lanka
GR Cables Ltd, a Hyderabad-based manufacturer of jelly filled telecom cables and power cables, has informed the stock exchanges that it has floated a wholly-owned subsidiary in Sri Lanka. The new company, Gold Island Cables Pvt Ltd, would focus ... More

OVERSEAS INVESTMENTS

ONGC to invest Rs 6,000 cr annually in overseas acreage
OIL and Natural Gas Corporation (ONGC) plans to invest over Rs 6,000 crore towards acquiring oil properties abroad. It is currently in dialogue with several countries including Australia, Indonesia and Russia in this regard. ``We have budgeted ... More

DIVERSIFICATION

Bhagyanagar Metals to make auto parts
IN tune with the recent changes in the telecom sector which have impacted copper based cables, Bhagyanagar Metals Ltd, is set to foray into assembly of telecom equipment and has teamed up with Korean major LG and is also set to manufacture ... More

OUTLOOK

BHPV order book touches Rs 100 cr
BHARAT Heavy Plates and Vessels Ltd (BHPV) here has made considerable headway of late in its turnaround bid by bagging major work orders and the order book of the company has touched the Rs 100-crore mark this month itself, "indicating the level ... More

Emerson Electric plans to expand Pune centre
EMERSON Electric India, which set up a `Emerson Development and Engineering Centre' at Pune in June, expects to double its staff strength at the Centre, from about 50 today. Mr Pradipta Sen, President-India Region, said that in about two years' ... More

PEOPLE

Shapoor Mistry to head Forbes Gokak

NEW PRODUCTS & SERVICES

Fiat rolls out Palio NV in four variants
FIAT India Pvt Ltd on Tuesday announced the launch of the Palio NV (New Version), a new series of its flagship model, the Palio petrol 1.2. The Palio NV is available in four variants EL, EL PS, ELX and Sport. It has improved fuel efficiency, ... More

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