The Hindu Business Line : Wednesday, December 10, 2003

BPCL policy for crude risk management soon
BHARAT Petroleum Corporation Ltd is all set to put in place its risk management policy for crude oil imports. Company officials are working on forming the policy for hedging commodity risks that will soon be presented to the board of directors ... More

COURTS/LEGAL ISSUES

HC okays NPIL move to delink from Guj Glass
PHARMA major Nicholas Piramal India Ltd (NPIL) has moved a step closer towards de-linking itself from glass-container manufacturer Gujarat Glass Pvt Ltd (GGPL). The move is expected to improve consolidated financials of NPIL, through debt ... More

HUMAN RESOURCES

`Attrition spreading to traditional sectors as well'
ATTRITION is not just rampant in the BPO sector, but it is fast catching up in other traditional sectors such as manufacturing and engineering, public sector undertakings and services. According to an Employee Vulnerable Study by NFO India, ... More

RESTRUCTURING

Eicher auto biz to be demerged
THE Rs 1,300-crore Eicher Group has decided to demerge the automotive business of Eicher Ltd into Eicher Motors Ltd (EML). This implies that the tractors, two-wheelers, gears and engines business of Eicher Ltd would be demerged into Eicher ... More

MERGERS & ACQUISITIONS

Sanmar Speciality acquires Bangalore Genei
THE Sanmar group has entered bio-tech business through an acquisition — Sanmar Speciality Chemicals Ltd today announced the acquisition of Bangalore Genei Pvt Ltd. Bangalore Genei, founded in 1989, produces enzymes and related reagents ... More

GG Automotive in talks to buy US co
GG AUTOMOTIVE Gears Ltd (GGAG) today informed the BSE that it is in negotiation through its US office, to acquire a US-based company manufacturing high precision custom gears and planetary gear systems at its Indiana plant. While the name of ... More

CORPORATE GOVERNANCE

Cos cool to improving corporate governance: SEBI chief
THE Securities Exchange Board of India Chairman, Mr G.N. Bajpai, today asked the corporate sector to be more responsive towards the market regulators' effort in improving corporate governance practices. He was speaking at an interactive session ... More

ICSI to bring out secretarial standards
THE Institute of Company Secretaries of India (ICSI) has proposed to bring out a number of secretarial standards in the coming days as part of a plan to introduce a set of uniform practices to its members. Some of these standards would relate ... More

NEW PROJECTS

Reva in talks with IFC to fund expansion
The company has received a major boost with the European Economic Community awarding it a certificate for going ahead with homologation of its electric car. More

Exide revives smelter plant proposal
EXIDE Industries Ltd has revived the proposal to set up a smelter plant through a joint venture with Malaysian Reclamation Industry (MRI). The project, which was shelved last year, is being once again looked into as the London Metal Exchange ... More

European Gemological starts Indian operations
EUROPEAN Gemological Laboratory (EGL) on Tuesday launched its Indian operations, by taking over the Indian operations of the International Gemological Laboratories (IGL). EGL, the world's largest independent network of gemological laboratories, ... More

ALLIANCES & JOINT VENTURES

Nicholas pact with US ophthalmic products co
NICHOLAS Piramal India Ltd (NPIL) is looking at increased global penetration through a "differentiated export strategy." This strategy envisages collaboration with large companies in those stages of the drug development process where other ... More

DIVERSIFICATION

After cheese, Dabon now dips into ghee
EVEN as its Le Bon cheese brand remains in slow growth mode and other dairy ventures failed to take off, Dabon International Pvt Ltd, a 50:50 joint venture company between Dabur India and French dairy major Bongrain SA, has made a quiet entry in ... More

SICK UNITS

BIFR orders sale of viable units of Alind
THE Board for Industrial and Financial Reconstruction (BIFR) has ordered the sale of the ailing Aluminium Industries Ltd's (Alind) Machinery Division, Hyderabad, and the Relays Division, Thiruvananthapuram. Earlier, the operating agency, State ... More

OUTLOOK

Swarovski upbeat on Bangalore
"BANGALORE has a good mix of traditional and contemporary shoppers and has been a good market for us," says Mr V. Shiv Kumar, Country Manager, Consumer Goods Business, Swarovski India Pvt Ltd. He was here to launch Crystal Belly Jewel, the belly ... More

Indal set to dump Eloor smelter unit
INDIAN Aluminium Company Ltd (Indal) of the Aditya Birla Group is preparing to close down its Eloor-based smelter unit permanently as it has failed to get permission to draw power from the Power Trading Corporation (PTC). The Kerala State ... More

ECONOMIC OFFENCES

Independent investigator submits report on Flex Ind
THE independent investigator appointed by the Department of Company Affairs for probing the charges against Flex Industries for violations under Companies Act has submitted its report to the Government today. This is one of the two cases for ... More

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