CORPORATE
RESEARCH & DEVELOPMENT
Glaxo seeks parent help for more research work
IT may require more "success stories" from India to convince the parent company to portion out work to its India arm. Nevertheless, GlaxoSmithKline Pharmaceuticals Ltd (GSKPL) is seeking parent company, GSK Plc's assistance to get more ...
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ANNOUNCEMENTS
Maruti cuts Esteem Diesel price by Rs 38,000
MARUTI Udyog Ltd has cut price of its Esteem Diesel model by Rs 38,000, in a bid to shore up sales of the midsize car. The base model of Esteem Diesel (without power steering) will now be priced at Rs 4.83 lakh (ex-showroom Delhi) as against ...
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Century Text gets shareholders' nod for sale of ships
CENTURY Textiles & Industries Ltd has informed the Bombay Stock Exchange that shareholders' approval was obtained through postal ballot regarding the board of directors' decision on the proposed sale of the company's remaining two ships —
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ACCOUNTING STANDARDS
ICAI to write to FIPB on `surrogate auditing' issue
THE Institute of Chartered Accountants (ICAI) plans to write to the Foreign Investment Promotion Board (FIPB) seeking the latter's intervention on what is now popularly known as "surrogate auditing" being allegedly practiced by certain ...
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AWARDS & HONOURS
Award for Tata Steel
KOLKATA: Tata Steel got an award for exemplary work in energy conservation by the Petroleum Conservation Research Association. Mr C. Mishra, chief of mechanical technology group, Tata Steel, received the award. ...
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CORPORATE BONDS
Crisil provisionally upgrades L&T
LARSEN & Toubro's non-convertible debenture rating has been provisionally upgraded to triple-AAA/stable (from AA+) by Crisil, with the improvement of L&T's financial profile upon transfer of a large portion of its debt to the demerged cement
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ALLIANCES & JOINT VENTURES
TPL ties up with Al Zamil for Saudi LAB project
TAMILNADU Petroproducts Ltd, which intends to put up a linear alkyl benzene project in Saudi Arabia, has tied up with the Al Zamil group of companies for that purpose. The project is to be put up with funding from DevCorp, the Saudi development ...
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BONUS ANNOUNCEMENTS
Berger Paints okays 1:2 bonus issue
THE board of directors of Berger Paints India Ltd on Friday approved the issue of bonus shares in the ratio of one bonus share for every two ordinary equity shares held in view of the sustained growth in the performance of the company. Sales ...
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Unichem moots 1:1 bonus; plans US subsidiary
UNICHEM Laboratories Ltd has recommended a 1:1 bonus — one bonus equity share for every one held — for its shareholders. At its board meeting here on Friday, the company also decided to set up a wholly owned subsidiary in the US. ...
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PERFORMANCE
Balrampur Chini announces 12:100 rights at a premium
RIDING on a 50 per cent growth in turnover and a 255 per cent growth in net profit, sugar major Balrampur Chini announced a rights issue in the ratio of 12 shares for every 100 held. The company has decided to charge a premium of Rs 250 for ...
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