The Hindu Business Line : Saturday, September 27, 2003

Minor fire breaks out in HPCL Visakha refinery
A MINOR fire broke out in the relief valve outlet vent in FCCU-revamp unit of Visakha refinery of the HPCL on Friday due to heavy lightning, according to a press release issued by the company. The fire was brought under control by pressing ... More

ANNOUNCEMENTS

EID Parry to foray into contract farming of rice
EID Parry is looking at diversifying into contract farming and branded marketing of rice, according to sources. It has made a test marketing of white ponni raw rice under the brand name `Akshaya' and is set to diversify the supply base and ... More

BG India gets nod for Panna-Mukta enhancement projects
BG INDIA has secured the Union Government's approval for production enhancement projects for the Panna-Mukta oil and gas fields and the Tapti offshore gas field on the west coast. The total investment for the projects is estimated at $138 ... More

Lupin gets USFDA nod for cefotaxime vials
LUPIN Ltd has announced that USFDA has approved ANDA for cefotaxime sterile vials for injection. A company release said the ANDA approval is the first injectible finished product approved for Lupin in the US market. Lupin is also the first ... More

HMT to lease out part of Bangalore office
HMT Ltd plans to lease/rent three floors of its seven-storeyed corporate office here. The company, in an advertisement sought bids for lease/rent for one or all floors, each with an area of 20,000 sq.ft. Such offer followed the company's bid ... More

Bharat Bio makes vaccine for Wyeth
BHARAT Biotech International Ltd (BBIL) has emerged as the first and only Indian biotechnology company to manufacture a vaccine for Wyeth, the US-based $14.5-billion healthcare products major. For the first time, Wyeth took the initiative of ... More

Mid-Day board okays TV foray

OPEN OFFERS

Poor response to CDC open offer for Punjab Tractors
THE open offer by the UK-based private equity investor CDC Capital Partners in Punjab Tractors Ltd (PTL), for an additional 20 per cent stake in the company, has so far generated a slack response, even as the company's stock price has been ... More

MANPOWER

Maruti second VRS opens
MARUTI Udyog Ltd, the country's largest carmaker, threw open its second voluntary retirement scheme to employees this week. The scheme opened on September 22 and will be closed on October 18, a company spokesman said. The Maruti board had, ... More

NEW PROJECTS

Sundram Fasteners aims at setting up global operations
SUNDRAM Fasteners plans to set up manufacturing operations in several parts of the world. The ongoing project in China is only the first of them, the Chairman and Managing Director, Mr Suresh Krishna, told shareholders on Thursday. However, he ... More

Volkswagen team visits Vizag
A TEAM of Volkswagen representatives visited Visakhapatnam and some places in the vicinity on Friday to study the possibility of setting up a car manufacturing unit. Mr K. Vidyadhara Rao, Minister for Heavy Industries, showed the team around ... More

Color Chips plans Rs 10-cr expansion
The move to consolidate capital base was also aimed at strengthening the Syndication and Publications Division by venturing into publication of comic books and children magazines. More

ALLIANCES & JOINT VENTURES

Agro Tech, Apollo tie up for health awareness campaign
AGRO Tech Foods Ltd (AFTL), the producer of `Sundrop Heart' brand of rice bran and sunflower blended oil, in association with Apollo Hospitals on Friday announced a series of initiatives to "increase awareness of cardiovascular disease (CVD) and ... More

INTERVIEW

`We are investing in manufacturing facilities to combat competition'
RAYMOND is possibly the country's best-known textile brand. If in the past, it made news for the cash it earned by exiting its steel and cement businesses, in recent times it has been in the limelight for its acquisitions and retail interest, the ... More

DIVERSIFICATION

Visaka Ind in expansion mode — Opens new plant in Bengal
THE Hyderabad-based Visaka Industries Ltd has planned a slew of expansion projects for both its operations - cement asbestos and synthetic blended yarn - for the next two to three years. According to Mr K. Soorianarayanan, Senior ... More

SICK UNITS

BIFR orders winding up of SIV Ind
Having, explored and exhausted all possibilities of rehabilitating the company, the Board had come to the prima facie conclusion that the sick company was not likely to raise its net worth to cover accumulated losses. More

OUTLOOK

Calibre Rehabs confident of turning around Saptarishi Agro
SAPTARISHI Agro Industries Ltd, recently acquired by Calibre Rehabs, is set to commence production in six months and will turn around in a couple of years, according to Mr Malvinder Singh, promoter of Calibre Rehabs. Mr Singh told Business ... More

SAIL sees upswing in fortunes, eyes export market
THE fortunes of the Steel Authority of India Ltd (SAIL) are on a northbound track. And with the domestic and international steel markets expected to remain buoyant, there's no looking back for the public sector steel major, according to the SAIL ... More

LG targets Rs 1,000-cr biz from festive sales
BACKED by higher sales this year, consumer durables major LG Electronics India Pvt Ltd is expecting a 33 per cent increase in its net profit to Rs 180 crore in 2003 and a jump in turnover to Rs 4,500 crore from Rs 3,316 crore last year. The ... More

Zee Tele targets 30% growth this fiscal
ZEE Telefilms Ltd (ZTL) is expected to achieve a 27-30 per cent growth during the current fiscal and expand its international business by 15 per cent, Mr Subhash Chandra, Chairman and Managing Director, told shareholders at the company's annual ... More

TRENDS

In cost-cutting mode...
Post 9/11 and SARS, though corporates have invested in advanced communication technologies and prefer economical travelling options, in the coming years business travel is bound to grow and improve, with greater choices for the commuter. More

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