The Hindu Business Line : Tuesday, November 04, 2003

GAIL's separate gas trading co by 2008
GAIL (India) Ltd has begun its journey towards separating gas trading business from its core business, gas transmission. The process is expected to be completed, and a separate company for gas trading created, by 2008, when the Rs 20,000-crore ... More

Dr Reddy's gets FDA nod for new drug application
DR Reddy's Laboratories Ltd, the Hyderabad-based pharmaceutical major listed on the New York Stock Exchange (NYSE), has received the final approval of the United States Food and Drug Administration (USFDA) for AmVaz (Amlodipine Maleate). With ... More

Reliance raises polymer prices
Polyethylene prices have gone up by 6.6 per cent to Rs 44 per kg (Rs 41.50) while polypropylene and polyvinyl chloride prices are up 4.5 per cent and 4.9 per cent each to Rs 46.85 per kg (Rs 44.85) and Rs 42.50 per kg (Rs 40.50) respectively. ... More

OVERSEAS BORROWINGS

Hedging made compulsory for foreign currency loans over $10 m
In its mid-term review of the Credit Policy, the RBI has made hedging mandatory for all foreign currency loans. According to the RBI, unhedged corporate borrowings have been a cause for concern over the past couple of years. Aside from the ... More

FINANCIAL PERFORMANCE

Galaxy net at Rs 87.4 lakh
GALAXY Entertainment Corporation Ltd has reported a net profit of Rs 87.41 lakh during the second quarter of this fiscal against a loss of Rs 4.34 lakh in the year-ago period. Income from operations moved up to Rs 9.63 crore from Rs 1.92 crore ... More

MANPOWER

CESC hopes to drive down tariff through VRS
CESC Ltd is hoping to bring down its tariff to around Rs 4 per unit on the completion of its VRS scheme, which was launched on October 31. The VRS, which is being billed as the largest ever(seeking to reduce the company's workforce by 4,372) in ... More

RESTRUCTURING

Indraprastha Gas in talks with OIDB for debt swap
INDRAPRASTHA Gas Ltd (IGL) is in talks with its lender, Oil Industry Development Board (OIDB), for prepaying its high-cost loans with cheaper funds borrowed either from the market or from the board itself. Currently, it is paying nine per cent ... More

MERGERS & ACQUISITIONS

Otto India unions outline new takeover options
EMPLOYEES of Otto India Ltd, who have opposed the takeover of the company by the Poddars of the HMP Group, have decided to place three alternate proposals at a tripartite meeting that has been scheduled for tomorrow under the aegis of the State ... More

RIGHTS ISSUES

Deccan Gold Mines announces Rs 5-cr rights issue
DECCAN Gold Mines Ltd, the only listed gold exploration company in the country, on Monday announced a rights issue to aggregate nearly Rs 5 crore to expand exploration activity. "We would offer 4.9 crore equity shares of Re 1 each for cash at ... More

OUTLOOK

Tata Steel plans big in mineral business
TATA Steel has said the company will focus on the minerals business in a major way and is prospecting for titanium dioxide, a key ingredient for paints and high-grade paper, along the Tamil Nadu coast. "The sand along the eastern coast in the ... More

Saregama to restrict film budget
SAREGAMA, the entertainment company in the RPG group, has decided to restrict its budget in film production to about Rs 5 crore, making a re-entry into the segment with Hindi and Bengali films. The Group Vice-Chairman, Mr Sanjiv Goenka, told ... More

PERFORMANCE

M&M sees light at end of tractor pipeline
``AFTER three years of degrowth, the tractor industry is looking up. Q2 was similar to that of last year,'' according to Mr K.J. Davasia, Executive Director, Mahindra & Mahindra Ltd (M&M), the domestic market leader in tractors. Rainfall has ... More

Hyundai October sales up 27.4 pc
HYUNDAI Motor India has registered 27.4 per cent growth in October 2003 sales, which touched 13,297 units. Domestic sales grew by 22.5 per cent over October 2002 sales of 9,250 units to touch 11,334 units in the month, while exports grew by 65.4 ... More

Maruti Oct sales zoom 35.2 pc
MARUTI Udyog Ltd (MUL) on Monday said its passenger car sales in October this year grew by 35.2 per cent at 38,715 vehicles, including exports of 5,260 units, against 28,630 units in October 2002, powered by a robust performance of its compact ... More

Grasim, Guj Ambuja cement output, despatches up
GRASIM Industries Ltd and Gujarat Ambuja Cements Ltd have reported higher production and despatches of cement during October 2003. Grasim reported a 12.59 per cent increase in cement production at 10.53 lakh tonnes (l.t.) during October 2003 ... More

Yamaha sales up 23 pc in October

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