The Hindu Business Line : Tuesday, October 28, 2003

BHEL commissions gas turbine in Iraq
BHARAT Heavy Electricals Ltd (BHEL) has achieved a major milestone in overseas operations with the synchronisation of a 159-MW highest-rating gas turbine in Iraq. According to a BHEL statement here, this is of significance as it is the largest ... More

CORPORATE DISPUTES

ONGC, Tata Power gas talks hang fire over price
NEGOTIATIONS between ONGC and Tata Power Company on buying gas are in limbo over the price. Analysts said that the deadlock was an "ideal example" of the ongoing tussle between suppliers and buyers on what the feasible price of gas should ... More

COMPANY LAW

Directors of Govt cos to be exempted from disqualification norms
DIRECTORS of Government companies need not worry over the recent disqualification norm announced by the Department of Company Affairs (DCA). The department has now decided to grant immunity to directors of public sector companies from ... More

COURTS/LEGAL ISSUES

CESC plans to wind up Mulajore unit in Nov
The closure decision is in line with an apex court order which made observations about the environmental hazards posed to the city by the power plant. More

MERGERS & ACQUISITIONS

Arch Commerz to reverse merge with Merven Drug
IN a major relief to the shareholders of Merven Drug Products Ltd (MDPL), the Board for Industrial and Financial Reconstruction (BIFR) has sanctioned a rehabilitation package wherein Arch Commerz Pvt Ltd (ACPL), the Mumbai-based profit making ... More

NEW PROJECTS

ITC travel arm scours China for new business
INTERNATIONAL Travel House Ltd, the travel arm of ITC Ltd, will be launching operations to and from China within the next few months. The company's top officials, in a bid to reach out to the vast customer base in China, are already scouting ... More

ALLIANCES & JOINT VENTURES

Ranbaxy inks pact with US foundation for anti-AIDS drugs
IN an effort to bring down the price of anti-AIDS drugs by more than half, the William Jefferson Clinton Foundation has signed an agreement with three Indian companies, one of them being the Capital-based Ranbaxy Laboratories Ltd. Announcing ... More

Color Chips signs up for French animation film
COLOR Chips India Ltd, a Hyderabad-based animation company, has announced it has signed up a co-production deal for a thirteen-episode series with Benj Productions of France. This co-production agreement is in the form of a cash-cum-revenue ... More

IPOS

Indraprastha Gas gets SEBI nod for IPO
INDRAPRASTHA Gas Ltd (IGL), a leading producer and marketer of compressed natural gas (CNG) for the automotive sector as also marketer and distributor of piped natural gas for domestic and commercial use, has obtained the approval of the ... More

BONUS ANNOUNCEMENTS

Bilcare proposes 1:2 bonus issue
PROMPTED by a 55 per cent increase in its net profit in the second quarter of the current fiscal, Bilcare Ltd has proposed to issue bonus shares in the ratio of two equity shares for every one share held, subject to the required approvals. The ... More

SICK UNITS

HPF survival rests `on Centre's bailout plan'
THE existence of the beleaguered photo film-manufacturing company Hindustan Photo Films (HPF) in Udhagamandalam would depend solely on the Centre's bailout plan of a one-time settlement, highly placed official sources told Business ... More

OUTLOOK

STC turnover likely to double
AGAINST the turnover target of Rs 2,500 crore, State Trading Corporation of India (STC) is all set to more than double this with a Rs 3,000-crore turnover during the first half of this fiscal. Talking to Business Line after the board ... More

PERFORMANCE

Corsa Sail, Optra rev up GM
CORSA Sail and Chevrolet Optra have turned the fortunes of General Motors in India with a 55 per cent jump in total sales of all models during the first nine months of 2003 compared with a year ago figures. A General Motors official told ... More

PEOPLE

Vinay Piparsania to head Ford marketing section
MR Vinay Piparsania, Vice-President of External Affairs and Director of Sales Operations, Ford India Ltd, has been appointed as its Vice-President, Marketing, Sales and Service. He takes over from Mr Randy Shockley, who is becoming Senior Advisor ... More

BOOKS

Crisil brings out book on accounts for budding professionals
GLOBAL Data Services of India Ltd, the financial data analysis wing of Crisil, has come out with a comprehensive book that re-classifies and sanitises the analysis of annual accounts of over 600 Indian manufacturing companies. The three-volume ... More

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