Financial Daily from THE HINDU group of publications
Saturday, December 20, 2003
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BL 2501995.29 (+30.93)
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ACCIDENTS


Govt seeks extradition of former Union Carbide chairman
ALMOST 19 years after the tragic Bhopal gas incident occurred, the Government has forwarded to the US Government a request for extradition of Mr Warren Anderson, who was the Chairman of Union Carbide Corporation when the infamous Bhopal gas leak ... More

ANNOUNCEMENTS


IOC plans domestic, GDR route for cross-holding sales
INDIAN Oil Corporation plans to sell its cross holdings in ONGC and Gail in the Indian stock markets as well as through GDRs. The company will sell its stake only after consulting ONGC, Gail and the Petroleum Ministry, depending on IOC's need for ... More

Wimco to adjust loss from share premium
MUMBAI: Wimco Ltd has informed the Bombay Stock Exchange that the Bombay High Court has approved the petition filed by the company for utilising a sum of Rs 22.66 crore in the share premium accounts for adjusting against the accumulated ... More

PREFERENTIAL ALLOTMENTS


Mohota Mills to issue preference shares
RAI Saheb Rekhchand Mohota Spinning & Weaving Mills Ltd has informed the Bombay Stock Exchange that in the company's Annual General Meeting, held on September 27, 2003, the shareholders approved the issue of 64,000, 8 per cent non-cumulative ... More

Fortune nod for pref allotment
MUMBAI: Fortune Informatics Ltd has informed the Bombay Stock Exchange that its board, at a meeting held on Friday, has considered and passed the resolutions relating to the following issues to be placed before shareholders: Issuing ... More

HUMAN RESOURCES


Zee Tele scripts new HR initiative — Subash Chandra has one-to-one meetings with staff
"WHAT were you doing at my age?" "What is your vision for the company?" Just a few googlies that Zee Telefilms Chairman, Mr Subhash Chandra, is fielding to his employees. As part of its latest human resource (HR) initiative that the company ... More

MERGERS & ACQUISITIONS


Sterling Infotech buys RPG Cellular
THE Sterling Infotech group of Mr C. Sivasankaran today announced that it had bought out the RPG group's 79.24 per cent stake in RPG Cellular Services Ltd. The deal is expected to be worth about Rs 210 crore, although both the groups declined to ... More

NEW PROJECTS


Balrampur Chini sugar complex gets under way
SUGAR major Balrampur Chini Mills Ltd has consolidated its numero uno position in the industry by commissioning its first greenfield project - an integrated sugar complex - at Haidergarh in Uttar Pradesh on schedule. According to a ... More

Bharat Forge plans to raise Rs 350 cr for expansion
BHARAT Forge Ltd (BFL) is targeting a presence in the global market for forged steel components for passenger cars that could exceed the business share it has carved out in the commercial vehicles space. Its acquisition of Ennepetal-based Carl ... More

INTERVIEW


`Tourism, Kerala heading on a path back to the future'
THE Casino Group of Hotels has a new identity, cgh earth experience hotels, and a new motive and mission on India's tourism landscape. Mr Jose Dominic, Managing Director of cgh earth, believes that the future of Kerala does not lie in the ... More

OUTLOOK


Goodyear looks to increase share in replacement segment
ENCOURAGED by the monsoon-led recovery in the agriculture sector, tyre manufacturer Goodyear India is hoping to increase its market share in the replacement market for farm tyres in the coming year. The company claims to have a leadership ... More

IOC plans to start hedging purchases next month
INDIAN Oil Corporation plans to begin hedging oil purchases through futures trading next month. The company is preparing for trading in futures through its first commodity derivative transaction. "We may do a transaction next month. We are ... More

Asia, Europe likely to be target markets for Oman Methanol
An agreement to commence a 5,000 tonnes a day project was inked earlier this week by international partners including Oman Methanol Holding Co, owned by Dr Omar Zawawi (30 per cent), Methanol Holding (Trinidad) Ltd (50 per cent) and Ferrostaal AG ... More

Titan Energy to expand in South
TITAN Energy Systems Ltd, manufacturer of solar powered products, is expanding its markets in the South. The company's Managing Director, Mr C.S.Y.S. Rao, said that Titan's solar photovoltaic modules are made from components imported from ... More

PERFORMANCE


Excise refund buoys MRF net
THANKS to an excise refund of Rs 73.74 crore, MRF was able to post a higher net profit for the year 2002-03 (ended September), compared to the previous year. The company's net profit for the year was Rs 117.48 crore, against Rs 78.46 crore for ... More

PEOPLE


Organisational changes in Bayer India
BAYER (India) Ltd has announced some organisational changes in the senior management following the merger of Bayer CropScience India Ltd with the company. Mr PierreLouis Dupont has been appointed as Managing Director, Bayer India Ltd. Mr ... More
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Mid-Term Monetary and Credit Policy for the year 2003-2004

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Top Stories
Asset management cos rake in profits in H1


ONGC market cap crosses Rs 1 lakh cr

Zee Tele scripts new HR initiative — Subash Chandra has one-to-one meetings with staff

Balrampur Chini sugar complex gets under way

SCI: A case of missed business opportunity

Oil cos: Cabinet nod for sale of cross-holding

In Focus
Stocks: Dizzying Heights
Steel Industry in 2003
Outsourcing backlash
Stamp paper scam
Housing finance scenario
Insurance Round-up — 2003
Organic farming
The Cable tangle
Telecom Competition
Oil PSUs: Disinvestment dilemma
Rising intolerance
(The Hindu)
Vaishnavaite Temples in Tamil Nadu
(The Hindu)
Saivite Temples in Tamil Nadu
(The Hindu)

In Depth
Insurance Corner
Swati CA
Simple Economics
Slowburn
Tax Talk
NRIs & Investment Avenues
Iraq Diary

Looking back
Dec. 7-Dec. 13
Funds infusion into NTC units likely soon

`Attrition spreading to traditional sectors as well'

Nicholas Piramal looking for buyers for tail-brands: Ajay

Dysfunctional financial activism

Decks cleared for BIFR closure


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