The Hindu Business Line : Tuesday, December 23, 2003

HPCL announces 60 per cent interim dividend
THE Union Government will get about Rs 103 crore from Hindustan Petroleum Corporation Ltd as interim dividend. The company is the first oil PSU to announce the amount of interim dividend. HPCL on Monday informed BSE that the board of directors ... More

Berger Paints to pay 35% interim
THE board of directors of Berger Paints Ltd, at its meeting held on December 20, 2003, has announced payment of interim dividend at the rate of 35 per cent for the current financial year. The previous year's final dividend was 60 per cent. ... More

Unichem conducts trials for hypertensive drug
CHANCES of a heart attack amongst the growing population of diabetes and hypertensive patients can be reduced significantly by controlling their blood pressure effectively. Further, the kidneys of such patients can be saved from being damaged. ... More

CORPORATE DISPUTES

Hindustan Oil row with Equity Energy resolved
HINDUSTAN Oil Exploration Company Ltd on Monday informed the BSE that the long-standing arbitration in London against its partner Equity Energy India Petroleum Pvt. Ltd has been resolved. The company may have to pay $1.4 million towards ... More

COURTS/LEGAL ISSUES

Madras HC directs co to pay wages to workers facing domestic probe
THE Madras High Court has directed the management of a Bangalore-based company to pay an ad hoc amount equivalent to one month's wages last drawn to each of its workmen before they could be asked to participate in a domestic inquiry ordered by ... More

MANPOWER

Maruti reduces workforce by 27% through VRS
MARUTI Udyog Ltd today said it cut its workforce by 27 per cent through a voluntary retirement scheme as part of efforts to control costs and improve profitability. In a statement here, it said that 1,251 employees opted for the VRS, the second ... More

MERGERS & ACQUISITIONS

Amul buys Kapila Dairy in Rs 1.25-cr deal
"Plans are to initially transport milk from Gujarat, process it at Kapila and then distribute in Pune city. The feasibility of procuring milk from co-operatives in the region if they meet our quality standards is also being discussed." More

Sundram Fasteners completes UK plant acquisition
CUSTOMER acquisition is the main reason for Sundram Fasteners' purchase of the precision forging plant in the UK, according to the company's Chairman and Managing Director, Mr Suresh Krishna. Sundram Fasteners has just concluded the purchase of ... More

ACC acquires 87 pc stake in IDCOL Cement
ASSOCIATED Cement Companies Ltd (ACC) has announced that it has acquired 86.79 per cent equity stake in IDCOL Cement Ltd (ICL) from Industrial Development Corporation of Orissa Ltd (IDCOL) for Rs 176.41 crore. ACC on Monday signed a share ... More

NEW PROJECTS

Henkel SPIC plans capacity expansion at Calchem plant
AS part of its business strategy to enter the South-East Asian market, Henkel SPIC India Ltd (HSIL), Indian subsidiary of Henkel KgaA of Germany, has decided to create additional manufacturing capacity for soap and toothpaste at The Calcutta ... More

Shiva Cement mulls debt-equity mix to fund expansion
THE Rourkela-based Shiva Cement is looking at a mixed route of debt and equity for raising capital to finance its much needed expansion programme, which is held up for more than two years. The company is severely hit by the recent decision of ... More

INTERVIEW

`We want to be world No 1 in this business'
OVER the last few years, the Rs 686-crore Bharat Forge Ltd has grown to be not just an important Indian company but a model encapsulating the ascent of domestic manufacturing expertise abroad. It will be a journey worth following for growth ... More

`Remodel car interiors to suit your long-term needs'
If you had a vehicle that could reconfigure its inside to reflect your needs, would you have to buy a car every three years? Perhaps you could own one for six years, save money and still have the advantages of a three-year cycle of ownership. More

OUTLOOK

General Motors to launch MUV by mid-2004
GENERAL Motors India (GMI) is planning to launch a multi-utility vehicle, its next product for the Indian market, by mid-2004. The seven-seater multi-utility vehicle (MUV) is likely to be available in more than two trim levels. Also as part of ... More

PEOPLE

Tempest to head Ranbaxy as Brar bids to step down
HOMEGROWN pharmaceutical major Ranbaxy Laboratories Ltd has crossed a milestone, albeit of a different sort, as the company announced a change of guard at the top. On Monday, it announced the appointment of Dr Brian W. Tempest as Joint Managing ... More

TRENDS

Rise in registered cos in October
OCTOBER witnessed an increase in the number of companies registered under the Companies Act, 1956. The month recorded 2,409 companies against 1,812 registered during the corresponding period of the previous year. Of the 2,409 companies ... More

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