Financial Daily from THE HINDU group of publications
Wednesday, September 17, 2003
Markets (Sept. 16)
BL 2501544.06 (+32.27)
BSE Sensex4274.75 (+80.92)
S&P CNX Nifty1357.95 (+28.70)
US Dollar (Buy/Sell)45.84/45.97
Gold Std (10 gm)5670 (-5)

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ANNOUNCEMENTS


Kishore Chhabria in talks with Interbrew for beer biz foray
THE liquor baron, Mr Kishore Chhabria, who is engrossed in a battle with the UB Chairman, Mr Vijay Mallya, for control over Herbertsons, is set to enter the beer business. He plans to bring in a foreign partner and is reportedly in talks with ... More

Sterlite drops copper business demerger
STERLITE Industries (India) Ltd has decided to withdraw the scheme of arrangement for demerger of the copper business. The company had earlier announced plans to hive off its copper business and its investments to a new company.The company said ... More

Ranbaxy gets USFDA nod to market `Panixine'
RANBAXY Laboratories Ltd has announced that it has received approval from the US Food and Drug Administration (USFDA) to market its branded `Panixine DisperDose' tablets (Cephalexin tablets for oral suspension, 125 mg and 250 mg). According to ... More

Voith Siemens hands over Baspa unit to JP group
VOITH Siemens Hydro Power Generation on Tuesday announced the formal handing over of the three-unit hydel power generation plant at the 360 MW Baspa-II station in Himachal Pradesh to Jaiprakash Hydro Power Ltd (JHPL). Baspa-II, according to a ... More

AUDITING


Auditors qualify Hyderbad Ind accounts
AUDITORS of Hyderabad Industries Ltd (HIL), part of the C.K. Birla-group, have qualified the accounts of the company for the first quarter of current fiscal ended June 30, 2003. The company has informed the stock exchanges that the auditors ... More

ENVIRONMENT


Dr Reddy's releases annual report on corporate safety
MR Satish Reddy, Chief Operating Officer, of DR Reddy's Laboratories, the Hyderabad-based pharmaceutical major, released its first Corporate Safety, Health & Environment (SHE) Annual Report for the year 2002-2003 here on Tuesday. Speaking at ... More

MERGERS & ACQUISITIONS


Heritage promoters consolidate holding
TWO of the promoters of Heritage Foods (India) Ltd (HFIL), the Hyderabad-based milk and milk products company, have further consolidated their holdings in the company by way of market purchases. In a communication to stock exchanges, the ... More

INTERVIEW


Indian Rayon eyeing overseas markets
INDIAN Rayon Industries Ltd, having established itself as a leader in the viscose filament yarn (VFY) business, is focusing on overseas markets. There is a huge market outside of India waiting to be tapped, said Mr K.K. Maheshwari, Group ... More

RIGHTS ISSUES


Electrolux case: CLB to issue notice to SEBI
LEGAL hurdles seem to be far from over for the white goods player Electrolux Kelvinator Ltd (EKL) and its parent, AB Electrolux, on its proposed rights issue, with the market regulator, Securities & Exchange Board of India (SEBI), likely to be ... More

SICK UNITS


BIFR seeks fresh plan from Ferro Alloys Corpn
THE Board for Industrial and Financial Reconstruction (BIFR) has directed the management of Ferro Alloys Corporation Ltd (FACOR), the ailing producer of ferro alloys, charge chrome and stainless steel, to prepare a fresh and detailed statement of ... More

IDBI suggests debt revamp for Gayatri Sugars
INDUSTRIAL Development Bank of India (IDBI), the lead financial institution of Gayatri Sugars Ltd (GSL), the Rs 89-crore ailing sugar producer, has recommended the company for a corporate debt restructuring (CDR). GSL, which incurred losses due ... More

OUTLOOK


Samsung targets Rs 5,000-cr turnover
SAMSUNG India Electronics Ltd has targeted a turnover of Rs 5,000 crore in 2003. In 2002, the company had recorded a turnover of Rs 2,950 crore. Of this, consumer electronics and home appliances accounted for Rs 1,710 crore, the balance being ... More

Orchid bullish on `path-breaking' drug discovery
ORCHID Chemicals and Pharmaceuticals Ltd is bullish on a set of path-breaking drugs as a part of its drug discovery programme and expects to out-license couple of molecules in the near future. The company has already filed as many as 163 patents ... More

Orchid eyes Rs 1,000-cr turnover by 2005 — Chinese venture operations begin
HAVING put in place the required processes, patents and plants across the globe with strategic investments of around Rs 450-crore, Orchid Chemicals and Pharmaceuticals Ltd (OCPL), the Chennai-based Rs 542-crore cephalosporins major, expects the ... More

Same Deutz-Fahr tractors to make India an export hub
SAME Deutz-Fahr, the world's third largest tractor firm, has charted out an aggressive strategy for its Indian operations and intends to develop India as an export hub for other international markets including North America. The company is ... More

Shaw Wallace hires McKinsey to draw roadmap for expansion
SHAW Wallace & Co (SWC) has mandated consultancy major McKinsey for plotting a roadmap to expand its liquor business over the next three years. The idea is to promote the company's top brands, strengthen the ones in the mid- and low-priced ... More


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