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Thursday, January 22, 2004

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ANNOUNCEMENTS
Ranbaxy forays into herbal medicine
IN an attempt to tap the domestic $1 billion herbal medicines market, Ranbaxy Laboratories Ltd on Wednesday unveiled three new brands under the `New Age Herbals' brand. As part of its expansion in the over-the-counter (OTC) segment, the ... More

Pricol set to launch 2-wheeler security systems for OE sector
AUTOMOBILE components manufacturer and electronic instrument clusters maker, Pricol, is set to launch two-wheeler security systems for the original equipment (OE) sector. Company sources said that it had already tied up with Bajaj Auto for OE ... More

BHEL bags power plant order
MADURAI: Bharat Heavy Electricals Ltd (BHEL) at Tiruchi, near here, has bagged a contract for setting up a 250-MW power plant at New Parli thermal power station extension project in Beed district in Maharashtra amidst international ... More

MERGERS & ACQUISITIONS
OVL to pick up 11 pc stake in Sudan oil field
ONGC Videsh Ltd (OVL), the overseas arm of Oil and Natural Gas Corporation (ONGC), is set to acquire 11 per cent equity in two oil exploration blocks in Sudan for a consideration of $125.4 million. "The Cabinet Committee on Economic Affairs ... More

iGATE net loss at Rs 2.65 cr; to acquire Symphoni Interactive
iGATE Global Solutions (IGS) on Monday reported a net loss of Rs 2.65 crore for the third quarter ended December 2003 as against a net profit of Rs 3.56 crore in the corresponding period last year. Revenues increased by 46.2 per cent at Rs ... More

Natco Pharma scouting for foreign equity partner
"The company is exploring the option of raising equity funds through certain select investors, for which purpose it has mandated Cipher Securities.'' More

CORPORATE GOVERNANCE
`Company secretaries must create value in organisation, society'
A COMPANY Secretary today plays a pro-active role and not a reactive role in the corporate sector, said Mr Pavan Kumar Vijay, past-President, Institute of Company Secretaries of India (ICSI). Speaking to Business Line soon after laying ... More

NEW PROJECTS
Hahnemann Herbal plans Rs 30-cr project in Bengal
HAHNEMANN Herbal Ltd, an ayurvedic medicine manufacturer, is planning to take up Rs 30-crore project for herbal cosmetics and toiletries in West Bengal. Mr Goutam Banerjee, Chairman & Managing Director, told presspersons here on Wednesday that .. More

ALLIANCES & JOINT VENTURES
Nadi Airtechnics in pact with US co
THE Chennai-based Nadi Airtechnics Pvt. Ltd has tied up with a US firm, Twin City Fan Company, to manufacture "high efficiency" industrial fans at a new facility on the city's outskirts. Twin City is also taking a 50 per cent equity stake in Nadi ... More

SICK UNITS
Trayons revival likely by March-end
ALL the bottlenecks for rehabilitating the Tranvancore Rayons Limited (TRL) at nearby Perumbavoor have been cleared and the company is likely to be revived by the end of the current fiscal, it is learnt. The final rounds of meeting with the ... More

Wheeling charges on the 'higher side' — Indal to decide soon on drawing power from PTC
THOUGH the Kerala State Electricity Regulatory Commission (KSERC) has granted permission to the Aditya Birla Group's Indian Aluminium Industries (Indal) at nearby Eloor to draw power from the Power Trading Corporation (PTC), the company feels ... More

BIFR bid to get AB Corp revived
THE Board for Industrial and Financial Reconstruction (BIFR) on Tuesday directed the Director of Income Tax and Prasar Bharati to resolve outstanding issues with the Big B's entertainment company, AB Corp Ltd, within a stipulated timeframe. ... More

OUTLOOK
Malco feels the heat as coal prices move up
INDUSTRIES which largely depend on imported coal are facing a crisis situation in view of the sharp increase in landed cost of imported coal. This is because during the last couple of months the price of coal has shot up in the international ... More

Philips automotive lighting division eyes 30 pc growth
THE automotive lighting division of Philips India is eyeing 30 per cent increase in sales in the current calendar year. "Our target is to close this year with sales of Rs 65 crore, up from Rs 50 crore last year," said Mr B. Sivakumar, Country ... More

PERFORMANCE
NMDC nets big in diamond sale
IN diamond mining, the public sector National Mineral Development Corporation (NMDC) has hit a new high. First, it mined the biggest and heaviest diamond, weighing 30.3 carats, and then topped it with a record earning of Rs 91.99 lakh in open ... More

ECONOMIC OFFENCES
Padmini Polymers: CBI digs out shady deals
SHARES of Padmini Polymers (later renamed as Padmini Technologies) bought by SBI Mutual Fund in February 2000 were never paid for at the time of original allotment, claim Central Bureau of Investigation officials. According to them, the deal ... More

PEOPLE
Nilekani, Ambani in top biz leaders' list
THE Infosys Technologies Chief Executive Officer, Mr Nandan Mohan Nilekani, and the Chairman and Managing Director of Reliance Industries, Mr Mukesh Ambani, are the two Indian names featuring in the list of 63 world's most respected business ... More


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