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Saturday, February 07, 2004

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ANNOUNCEMENTS
FACT to hold EGM on Feb 27
AN EGM of the shareholders of Fertilisers and Chemicals Travancore Ltd (FACT) has been convened on February 27 to consider the report of the company's board of directors on the erosion of more than 50 per cent of the net worth of the ... More

TAFE to unveil 25 hp tractors soon; targets North
THE Chennai-based Tractors and Farm Equipment Ltd (TAFE), the flagship company of the Amalgamation group, is gearing up for a foray into the less than 30 hp tractor segment in the next 3-4 months with a 25 hp tractor. The company said the ... More

Radaan Media plans to forfeit partly-paid shares
THE Chennai-based television content company, Radaan Mediaworks India Ltd, promoted by the actress, Ms Radikaa, at its board meeting held on January 30, has informed the Stock Exchange that the company will be approaching the Madras Stock ... More

MMTC declares 25 pc interim
MMTC Ltd today declared 25 per cent interim dividend for the current fiscal and said that it is confident of exceeding the annual turnover target of Rs 7,500 crore for 2003-04. According to a company release, the Chairman and Managing Director, ... More

PREFERENTIAL ALLOTMENTS
Filatex shareholders okay preference share issue
FILATEX India Ltd has informed Bombay Stock Exchange that during the EGM held on Thursday, its shareholders have approved alteration of the authorised share capital and the issue of 15 lakh 7.5 per cent cumulative convertible preference shares ... More

COMPANY LAW
India Inc not for restriction on pyramidal structure
INDIA Inc continues to be perturbed over the possibility of a restriction on a pyramidal structure creeping into the corporate statutes of the country. Corporate sector has been pitching against the possibility of the enactment of such provisions ... More

AWARDS & HONOURS
L&T CMD Naik bags corporate leadership award
MR A.M. Naik, Chairman and Managing Director, Larsen & Toubro, has been conferred the `JRD Tata Corporate Leadership Award' by the All India Management Association (AIMA). According to an official communiqué, Mr Brij Mohan Lall Munjal, ... More

HMT wins award
BANGALORE: HMT has won the CMTI-PMT Trust Award at IMTEX 2004 Machine Tool Exhibition held in Mumbai. The award was given for excellence in design for CNC die and mould machining centre. The five-axes CNC die & moulding machining ... More

COURTS/LEGAL ISSUES
HC stays warrant against Chennai co
THE Madras High Court has granted an interim injunction restraining a Kolkata-based company from executing a non-bailable warrant issued by the District and Sessions Judge, Ghaziabad, in connection with a criminal complaint filed against a ... More

HUMAN RESOURCES
Top-level attrition in Arvind Mills
THE Sanjay Lalbhai-controlled Arvind Mills has witnessed a series of exits from its top management, even as the company has said that it was attracting fresh talent through the return of expat professionals. Arvind has seen the biggest ... More

RESTRUCTURING
Zee Telefilms plans to revamp debt portfolio
ZEE Telefilms Ltd (ZTL) has announced that it plans to carry out a debt restructuring programme to reduce its overall debt burden. Currently, ZTL has an outstanding debt position of Rs 500 crore, a company official said. The company said it ... More

NEW PROJECTS
Ranbaxy to set up subsidiary in Spain
AFTER successfully completing the acquisition of the French company, RPG (Aventis), Ranbaxy Laboratories Ltd is planning to expand its presence in the European market by setting up a wholly-owned subsidiary in Spain. The board of directors of ... More

Cosmetics major L'Oréal opens Rs 50-cr manufacturing plant
COSMETICS company, L'Oréal India, has announced the opening of a Rs 50-crore new manufacturing plant with a capacity expandable up to 100 million units per annum. The group has commissioned the new plant near Pune, providing proximity to the ... More

Minda Huf to set up new plant in Pune
IN line with its expansion plans, automotive components manufacturing firm, Minda Huf Ltd, is setting up a new manufacturing plant in Pune. According to a company official, the plant is being set up with an investment of Rs 25 crore, which ... More

REGULATORY BODIES & RULINGS
SEBI may amend norms for disclosing shareholding
THE Securities and Exchanges Board of India (SEBI) is proposing to amend the provisions of the disclosure requirements relating to the shareholding pattern of companies. According to the proposed provision, companies will have to file with ... More

ALLIANCES & JOINT VENTURES
Pfizer Sanofi pact to promote anti-depressant drug
PHARMA major Pfizer Ltd has entered into an agreement with Sanofi Synthelabo (India) Ltd for the co-promotion of Pfizer's anti-depressant product, Daxid. The agreement is valid for a period of three years, the company told BSE. Daxid was ... More

INTERVIEW
`Our entry into regulated markets will show results next year'
ORCHID Chemicals & Pharmaceuticals is halfway through transforming itself from a bulk drug company operating largely in the unregulated markets of East Asia to a complete pharmaceutical company selling in Europe and the US. Mr K. Raghavendra ... More

RIGHTS ISSUE
Shiva Cement may raise Rs 9.5 cr through rights-cum-public issue
THE Rourkela-based Shiva Cement is hoping to raise a little over Rs 9.5 crore through a rights-cum-public issue some time in the middle of May, to fund its working capital needs and de-bottleneck its production unit. This is the first move by ... More

OUTLOOK
Thermax to focus on 50-100 MW range power plants
ENERGY and environment management solutions provider Thermax Ltd has said it will focus on pursuing EPC (engineering-procurement-construction) contracts in captive power generation to fuel growth in its cogen division. Thermax will also ... More

Mahindra Defence eyes Rs 100-crore turnover
WITH newer products on the anvil and several foreign collaborations, Mahindra Defence Systems (MDS) is targeting a turnover of Rs 100 crore by next year. MDS, the defence division of Mahindra & Mahindra, is also open to hiving off the division .. More

PERFORMANCE
Ashok Leyland sales up 30 pc in Jan
ASHOK Leyland sold 4,652 vehicles in January, 30.4 per cent more than the 3,567 vehicles it sold in January 2003. In the 10-month period between April 2003 and January 2004, the truck maker sold 37,490 vehicles, against 27,164 vehicles in the ... More


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