Financial Daily from THE HINDU group of publications
Tuesday, November 18, 2003
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Kerala Minerals bags order from Chinese firm
KERALA Minerals and Metals Ltd (KMML) has signed an MoU with Shanghai Ying International Trading Ltd Company for exporting 2,500 tonnes of TiO2 (rutile) to China "This is the biggest single export order received by KMML," Mr K.P. Rajendran, ... More

Exide completes expansion job at its Pune factory
AUTOMOTIVE battery major Exide Industries Ltd has recently completed the expansion programme of its Pune factory, according to Mr. S.B. Ganguly, chairman of the company. He was talking to reporters after addressing the industry meet conducted ... More

J. B. Chemicals launches 2 new products
J. B. Chemicals & Pharmaceuticals Ltd (JBCPL) has launched two new therapeutic products, in the antibacterial and nutraceutical segments respectively. Cefjoy (Cefpodoxime Proxetil) is useful in the treatment of a wide range of infections among ... More

ONGC waiting for Centre's nod for retail venture plan
OIL and Natural Gas Corporation Ltd is awaiting the Centre's nod to rope in non-public sector financial institutions for its proposed joint venture for getting into retail marketing. "We have talked to some financial institutions who have shown ... More

COMPANY LAW


Compliance with Co. Auditor's Report order — DCA to be a bit lenient
THE Department of Company Affairs (DCA) has decided to go soft on companies that are unable to comply with the Companies (Auditor's Report) Order, 2003 (CARO), which came into effect from July 1, 2003. This dispensation would be available only ... More

MERGERS & ACQUISITIONS


Michelin picks up 14.9% stake in Apollo Tyres — Ties up to set up joint venture
GLOBAL tyre major Michelin and Apollo Tyres Ltd (ATL) on Monday inked an agreement to set up a joint venture company - Michelin Apollo Tyre Ltd - for the manufacture and sale of truck and bus radial tyres in the country. The joint venture ... More

REGULATORY BODIES & RULINGS


`Non-compliance of directives' — DCA show-cause notice to ICWAI
THE Department of Company Affairs (DCA) has sent a show-cause notice to the Institute of Cost and Works Accountants of India (ICWAI), asking it to state why it should not be dissolved for certain "acts of non-compliance of the directions of the ... More

TRADE & LABOUR UNIONS


Chittivalasa mill re-opens
THE management of the Chittivalasa jute mill at Tagarapuvalasa in Visakhapatnam district has lifted the lockout. The mill, witnessing labour unrest for several months over the decision to effect a wage cut, was earlier re-opened in the last week ... More

ALLIANCES & JOINT VENTURES


Apollo Tyres parts ways with Continental AG
APOLLO Tyres has bid adieu to its long-standing technology collaborator, Continental AG. Industry observers see this development as fallout of Apollo Tyres' decision to forge a tie-up with Michelin and offer the latter a 14.9 per cent equity ... More

OUTLOOK


Cognizant Tech outlines expansion plans
The plans include doubling of staff in Hyderabad, commissioning its China facility, either through own centre or a strategic acquisition, and commencing its business process outsourcing operations. Addressing a press conference here on Monday, ... More

S&P affirms `BB' rating for Tata Power
STANDARD & Poor's Ratings Services today affirmed its `BB' long-term foreign currency ratings on Tata Power Co Ltd, as the company's credit quality has remained within the current rating parameters. The outlook is negative. "One of the main ... More

Exide pinning hopes on non-conventional arm
EXIDE Industries Ltd is betting on its non-conventional business division to drive growth. The division focuses on alternative sources of power such as solar energy, wind generators, electricity-run batteries, among others. "The division is ... More

Assam Co expects 25 pc of its revenue from tea bars
CITY-based Assam Company Ltd, a member of the Duncan Macneill Group, hopes to generate 20-25 per cent of its total revenues from its recently introduced tea bars by the name of Camellia Tea Bar. This was stated by Mr Arun Grover, Deputy Chief ... More

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