The Hindu Business Line : Thursday, September 04, 2003

Viceroy Hotels may set up new restaurant in US
THE board of directors of Viceroy Hotels Ltd (VHL), the Hyderabad-based hospitality company, is scheduled to meet on September 6 to consider a proposal to start a second restaurant in Texas, US. In a communiqué to stock exchanges on Wednesday, ... More

Ranbaxy gets US nod for generic antibiotic drug
RANBAXY Laboratories Ltd (RLL) on Wednesday said that it had received approval from the US-based regulatory authorities for its generic version of antibiotic Ofloxacin. The original patent holder for the drug is Ortho McNeil Pharmaceutical Inc ... More

Elf to launch oil for CNG vehicles
ELF Lubricants India plans to introduce engine oils for CNG and LPG vehicles within the next two weeks. The new product "Lubrigas" will be positioned as a premium gas oil for makers of CNG vehicles such as Swaraj Mazda and also at specialised ... More

IBP bids for third player slot in Lanka
IBP Co. Ltd, an Indian Oil group company, has submitted an "Expression of Interest" to bid for the slot of a third player in the petroleum sector in Sri Lanka. Stating this during an interface with newspersons here on Wednesday, Mr M.S. ... More

OVERSEAS BORROWINGS

Biocon India to raise $30-m debt
BIOCON India is finalising a $30-million debt to part-finance its expansion plans. The debt is to be raised from domestic and international lenders, Ms Kiran Mazumdar-Shaw, CMD of the Bangalore-bsed biotech company, said here today. The loan ... More

GENDER

Change the rules of game, women told
IT'S a male-dominated society. They keep women out of informal networks. They have misconceptions about women. There are cultural barriers that prevent women from actively seeking their careers. What's new about it? Then, there is a small but ... More

HUMAN RESOURCES

Award for BEL employee

CORPORATE BONDS

Moody's changes outlook on RIL debt securities to stable
GLOBAL rating agency, Moody's Investors Services, has changed the outlook on the ratings of debt securities of Reliance Industries Ltd (RIL) from "negative' to "stable". The current Ba2 ratings for debt securities issued by Reliance as well as ... More

RESTRUCTURING

Bajaj Auto may be split — Investment portfolio under separate co
BAJAJ Auto Ltd, the country's second largest two-wheeler manufacturer, is likely to be bifurcated into two separate units, one for manufacturing and the other for investments. In an informal chat with newspersons on the sidelines of the SIAM ... More

`Just a proposal'
ACCORDING to those in the know, Bajaj Auto Ltd's (BAL) plan to demerge is yet to graduate from loud thinking into a concrete proposal. But it was seeking ways of addressing the problem posed by surplus cash, institutions saying they would ... More

Breaking up the `war chest'
THE war chest is being broken up. In what appears to be a capitulation to market sentiment, Mr Rahul Bajaj has acknowledged that Bajaj Auto's considerable investment portfolio is affecting its valuation and decided to break it up and transfer a ... More

MERGERS & ACQUISITIONS

Saptarishi board approves unit sale to Calibre Rehabs
THE board of Saptarishi Agro of the BM Thapar group's Global Green Company Ltd has approved the acquisition of its mushroom unit by Calibre Rehabs Ltd, according to Global Green officials. The mushroom unit located near Chengelpet about 45 km ... More

LIC pips UTI for AP stake in Tata Motors
LIFE Insurance Corporation has pipped UTI Mutual Funds Ltd for the 0.51 per cent Andhra Pradesh Government stake in Tata Motors in the revised bid process tabled on Wednesday with an offer that is Re1 higher per share at Rs 253. The main ... More

TRADE & LABOUR UNIONS

Stalemate continues at Chittivalasa jute mill
CHITTIVALASA jute mill at Tagarapuvalasa in Visakhapatnam district, has not been in production for more than three months now over an industrial dispute and even though the management has lifted the lockout, workers have not joined duty. The ... More

ALLIANCES & JOINT VENTURES

Bisleri to enter Europe via French firm
MR Ramesh Chauhan's Parle Bisleri has tied up with French company Aurele, to begin selling its Bisleri brand of packaged water in Europe. A press release issued by the company stated that Bisleri for Europe would be bottled in three sizes - ... More

INTERVIEW

Economic value added is `back to basics, seriously'
ECONOMIC Value Added (EVA) may be an old concept but its relevance is gaining ground as companies increasingly look to maximise the intrinsic value of their business, says Mr Tejpavan Gandhok, Country Manager, Stern Stewart Management ... More

EVENTS

Corporate bigwigs have divergent views on CFOs
IN the past, both L&T and ITC have resisted attempts to wrest management control. But their flavour is as different as chalk and cheese, a taste of it was had at today's CII organised-meet of chief financial officers. Mr Y.M. Deosthalee, CFO, ... More

SICK UNITS

Decision on TRL likely by Sept 17
A FINAL decision on the revival of the sick Travancore Rayons Ltd (TRL) at nearby Perumbavoor is likely to materialise, if the promoters were ready to further dilute their demands, at a meeting of the Cabinet sub-committee with the entrepreneurs ... More

PERFORMANCE

Honda Siel sales up 31 pc in Aug

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