The Hindu Business Line : Friday, November 28, 2003

Maruti rolls out new Zen at same price
MARUTI Udyog Ltd, on Thursdayrolled out a new-look Zen without changing the prices, giving the car a make-over ten years after it was launched. The new Zen has the same engine that powered the previous versions, but sports a new grille, ... More

Nandan Agro to unveil 7 safed musli formulations
NANDAN Agro Farms is working on preparing seven formulations from an indigenous medicinal plant - safed musli. Mr C.S. Jadhav, Marketing Director of the Hyderabad-based company, said here on Thursday that one formulation had been prepared ... More

PSL bags pipes order for Gujarat rehab project
PSL Ltd has bagged an order valued at Rs 143 crore from the Gujarat Water Supply and Sewerage Board to supply spiral-weld pipes for the Gujarat Earthquake Reconstruction and Rehabilitation project to be undertaken in the Kutch area. This ... More

Greaves Ltd reverts to Greaves Cotton
"In order to realise the benefits of a strong brand equity that Greaves Cotton enjoys in the market place it was decided to change the name of the company to Greaves Cotton Ltd," the company said in a news release. Two Englishmen, James Greaves ... More

Sundram Fasteners declares 60% interim
CHENNAI: Sundram Fasteners has declared an interim equity dividend of 60 per cent on shares with a face value of Rs 10 for the current financial year.

RESTRUCTURING

CG Igarashi plans to hive off non-motor biz
CG Igarashi Motors is considering a proposal to hive off its fledgling non-motor business into a separate company. "The Board has constituted a sub-committee of 3 independent directors to examine the proposal in detail and make their ... More

Morarjee Goculdas board clears tools unit demerger
MORARJEE Goculdas Spinning & Weaving Company Ltd has informed the Bombay Stock Exchange that the company's board, at its meeting on Wednesday, had decided to demerge the company's tools division, subject to approvals from shareholders and the ... More

MERGERS & ACQUISITIONS

Jindal Polyester acquires French co
JINDAL Polyester Ltd has informed the Bombay Stock Exchange that it has concluded the acquisition of Rexor, S.A., France, through a subsidiary company, Jindal France SAS on Tuesday. The company was acquired for a cash consideration of 8.5 ... More

AGCO says approvals pending for acquisition of Valtra
IT'S nothing more than regular corporate disclosure - - global farm equipments major AGCO Corporation has reminded investors of approvals pending for its 600 million euro-September acquisition of Finnish tractor company, Valtra. Mahindra & ... More

NEW PROJECTS

Generation, distribution infrastructure — BSES to invest Rs 421 cr
BSES Ltd plans to invest around Rs 421 crore on adding distribution and generation infrastructure during the current year. In a presentation made to the Maharashtra Electricity Regulatory Commission (MERC), BSES today said it plans to use ... More

REGULATORY BODIES & RULINGS

Shanta Biotech's cardiac drug comes under scrutiny
SHANTA Biotechnics' biotech cardiac drug recombinant streptokinase has come under a cloud with the Genetic Engineering Approval Committee (GEAC) seeking a probe from the Drug Controller General of India (DCGI) into reports on deaths resulting ... More

DIVERSIFICATION

Ramco group invests Rs 65 cr in wind power
THE Ramco group with interests in cement and textiles, has invested Rs 65 crore this year on wind power. It has put up wind turbines totalling 16.225 MW this year, taking its total installed wind power capacity to 54.96 MW. Two group companies ... More

RIGHTS ISSUES

Maharashtra Scooters ownership — `Mis-statement' in Bajaj Elec offer letter
WHO owns controlling stake in Maharashtra Scooters Ltd (MSL)? Going by a recent offer letter of Bajaj Electricals, one gets the impression that Bajaj holds 51 per cent or the controlling stake in MSL. Bajaj Electricals, in its recent rights ... More

SICK UNITS

Conversion of ECB to equity — Vista Pharma comes under ED scanner
THE ailing pharmaceuticals manufacturer Vista Pharmaceuticals Ltd has come under the scanner of the Enforcement Directorate for its conversion of unsecured external commercial borrowings into equity shares. The Foreign Investment Promotion Board ... More

Ponni Sugars Orissa plans EGM on Dec. 23
PONNI Sugars Orissa Ltd will seek approval of its shareholders at an extraordinary general meeting on December 23 to wind up the company. This is a procedural formality as the company's assets have been taken over and sold to a co-operative ... More

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