The Hindu Business Line : Wednesday, November 19, 2003

TIDCO may not pump in fresh equity into Titan
THE Tamil Nadu Industrial Development Corporation (TIDCO)has indicated that it is unlikely to pump in more equity into Titan Industries Ltd. TIDCO is the single largest shareholder with 27.88 per cent stake in the watchmaker. Titan plans to ... More

Skoda to hike Octavia price
MUMBAI: Skoda Auto India has announced plans to increase the price of its premium luxury car Octavia shortly. "This would be the first-ever price increase by the company since it started operations in India," the company said in a ... More

PREFERENTIAL ALLOTMENTS

Cos ride market boom with preferential issues
WITH the stock market booming, several companies have lined up preferential issues of shares, mostly at a price below that of the market. In November alone, 11 companies have either announced plans to issue shares on preferential basis or have ... More

OUTSOURCING

AB Electrolux plans to source components from India
AB Electrolux, a household and outdoor appliances major, has identified India as a sourcing base for auto components. The company plans to source components from India for its outdoor division, which makes garden and forestry equipment such as ... More

AWARDS & HONOURS

Rane Brake gets Deming Prize
RANE Brake Linings Ltd has received the Deming Prize, an award recognising excellence in the practice of `total quality management' (TQM). The prize is given by the Japanese Union of Scientists and Engineers. Total quality management is a ... More

Rating for DivyaSree Developers

AUDITING

CAG re-elected to Asian organisation

COURTS/LEGAL ISSUES

ESPN takes InCable row to court
ESPN Software India Pvt Ltd has filed a winding up petition in the Bombay High Court against the Hinduja-promoted Indus Ind Media and Communications Ltd, InCable Network, to recover the outstanding cable subscription amount of over Rs 4 crore. ... More

HUMAN RESOURCES

IIMB's summer placement
THIS year, summer placements at the Indian Institute of Bangalore were completed in a record two days' time. According to Mr Ganesh Prabhu, Chairperson, Placements, IIMB, the entire batch has been placed in the first weekend of the placement ... More

MERGERS & ACQUISITIONS

At IDBI Bank, they're now less averse to merger
THE resistance to a merger with IDBI may be slowly fading within the rank and file of IDBI Bank. In fact, it could be an altogether different ending this time should a fresh proposal for merger be mooted by IDBI in the days to come. With its ... More

Murugappa may divest further in Godavari Fert
THE Murugappa group is likely to further divest its stake in Godavari Fertilisers, a company in which it acquired a 56 per cent stake in August. The group may sell 5 per cent of Godavari's equity to a Tunisian company, Groupe Chimique Tunisien ... More

MRF welcomes Michelin re-entry
MRF has welcomed former collaborator Michelin's entry into India. The French tyre giant has picked up a 14.9 per cent stake in Apollo Tyres, one of MRF's competitors. "We know them very well. They are our old friends," a spokesman of MRF told ... More

ALLIANCES & JOINT VENTURES

Nandan Agro, Swiss co to float joint venture
NANDAN Agro Farms Pvt Ltd, a herbal products company, has forged a strategic alliance with Spearhead Sarl of Switzerland, engaged in trading, manufacturing and marketing of natural food products and cosmetics. As per the alliance, the two ... More

INTERVIEW

`The near future for power looks bright'
MR B.R. Jaju, Chief Financial Officer, Crompton Greaves Ltd, recently won the CFO Award for 2003 for facilitating closure and exiting certain under-performing businesses and for employing innovative fiscal measures to reduce borrowings and ... More

SICK UNITS

Insist on guarantees to reopen Metal Box unit: Union
METAL Box Workers' Union has urged the West Bengal Government to insist on guarantees in any form from the Metal Box management as a prerequisite for reopening of the local Number One factory of the company. The union's view was recently ... More

Talks on FACT soon
THIRUVANANTHAPURAM: A high-level meeting involving the Finance Minister, Mr K. Sankaranarayanan, and the Industries Minister, Mr P. K. Kunhalikkutty, has decided to urgently take up with the Centre the issue of retaining the Fertilisers ... More

OUTLOOK

Indal's future uncertain as PTC power hangs fire
All the extra-high tension consumer units in the State would face a similar fate in the future and the Indal issue is a test case. More

Sona Koyo hopes to hit Rs 100-cr exports by '07
SONA Koyo Steering Systems Ltd, a leading automobile ancillary maker, expects its revenues from exports to swell to 20 per cent of turnover by 2007 compared with just 2 per cent today, as the company is giving a new thrust to catering to global ... More

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