CORPORATE
ANNOUNCEMENTS
ONGC says miscreant activities at Narsapur plant may force supply cut
THE management of Oil and Natural Gas Corporation (ONGC) has formally intimated GAIL India Ltd that the gas supplies from its oil & gas wells face a threat of being shut down shortly, in the face of lawlessness at Narsapur and adjoining areas in
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Mercedes Benz cuts prices
DAIMLERCHRYSLER India has reduced the prices of the Mercedes-Benz S-Class, E-Class and C-Class range of cars by up to 3 per cent. The measure follows the Government's announcement last month to cut peak Customs duty to 20 per cent from 25 per ...
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Cummins India to make engines for group cos
CUMMINS India said here today the company has been made the exclusive manufacturer of its 50-litre power generation for the group's global requirements. Exports of the product will commence from the next quarter, Mr Vinod Dasari, Joint Managing ...
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Skoda plans pre-owned car initiative — To expand dealer network
CZECH auto maker, Skoda, is firming up a major marketing initiative including a pre-owned car programme and increasing its dealership network to support its launch of new cars this year. The current year will be a busy year for Skoda with ...
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Novopan to seek shareholders' nod thru postal ballot
NOVOPAN Industries Ltd which had earlier planned to convene an extraordinary general meeting to obtain the consent of shareholders for the investments, loans and guarantees proposed, has now decided not to go in for EGM. Instead, the company ...
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Gannon scouting for contract facility in India
GANNON Vietnam Ltd (GVL), a 100-per cent foreign invested service company providing warehousing, labelling, packaging and logistical support to large multinational organisations, is exploring the possibility of setting up a contract manufacturing ...
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ACCOUNTING STANDARDS
ICWAI pitches for name change to include management accounting
Even the members of Institute of Management Accountant of Pakistan and Institute of Management Accountant of Bangladesh may have better prospects and footholds in the negotiation process.
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PREFERENTIAL ALLOTMENTS
Max India offers 10.71 pc stake to ChrysCapital
MAX India today decided to offer 10.71 per cent stake in the company to ChrysCapital on a preferential basis amounting to Rs 49.82 crore. The Board of Directors decided to issue 27.67 lakh equity shares of Rs 10 each at a premium of Rs 170 per ...
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OVERSEAS BORROWINGS
ACC to seek shareholders' nod to raise $100 m
THE Associated Cement Companies is planning to raise funds not exceeding $100 million (about Rs 455 crore) and will seek shareholders approval for this at its EGM scheduled for March 1. According to the resolution in the company's notice to its ...
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OUTSOURCING
Giordano looks to outsource from India
OUTSOURCING is clearly catching up within the retail industry. After Wal-Mart and JC Penney, now the Saudi Arabia-based apparel retailing major Giordano Fashions LLC too is scouting opportunities to outsource from India. Mr Ishwar Chugani, ...
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AWARDS & HONOURS
Nestle, Dabur among Tetra Pak award winners
HYDERABAD: Nestle, Parle Agro, Dabur Foods and the Gujarat Co-operative Milk Manufacturing Federation Ltd have bagged Tetra Pak's annual dairy and beverage industry awards for 2003. The awards were presented at the three-day national ...
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ACCOUNTANCY
ICAI to clear DCA's doubts over institute's functioning
THE Institute of Chartered Accountants of India (ICAI) will soon approach the Department of Company Affairs (DCA) to allay the apprehensions of the latter on the functioning of the institute. Early this year, the DCA had shot off a letter to ...
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CORPORATE BONDS
Godavari project bonds to be floated next week
THE Visakhapatnam municipal corporation is floating bonds to raise Rs 70 crore for the Godavari water diversion project. The bonds will hit the market next week, according to Mr Navin Mittal, the Municipal Commissioner. Mr Mittal said at a ...
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NEW PROJECTS
ST Micro to open third design centre
ST Microelectronics, a $7.2-billion semiconductor corporation, is set to commission its third India design centre in Noida. The company President and Chief Executive Officer, Mr Pasquale Pistorio, will be here to inaugurate the design centre ...
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SOCIETY & DEVELOPMENT
Corporates running a different race!
THIS time around, Reliance Vice-Chairman & Managing Director, Mr Anil Ambani, will not be running because an investor had expressed concern over his health. The junior Ambani is expected to join a host of corporate honchos, including Essar's ...
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OUTLOOK
Tatas Coffee eyeing China `instant' coffee market
HERE is more from the Tatas stable for China; Tata Coffee Ltd looks set to enter the Chinese market by 2005. The company sees a major potential for instant coffees as the tea-drinking nation was rapidly switching over to coffee consumption in a ...
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Tata Tea mulling options to enter Chinese market
TATA Tea Ltd along with Tetley has decided to enter the Chinese tea market and is currently studying all the available options. According to industry sources, the company officials have been visiting China for quite some time now. After ...
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Radico Khaitan plans to double sales in 3 years
RADICO Khaitan Ltd may almost double its sales volume in the next three years. This could make it one among the top three spirits entities in the country by 2007. Speaking to Business Line, Mr Abhishek Khaitan, Joint Managing Director of ...
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Bharti Healthcare to focus on US market
BHARTI Healthcare, part of Bharti Enterprises, which manufactures empty hard gelatin capsules, is planning to focus on the US market this calendar year and will make a foray into the European markets in 2005. Currently, the company exports to ...
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PEOPLE
No decision yet on new MD for Tata Tea
Tata Tea is yet to decide on who will be its Managing Director from next Thursday. The current Managing Director, Mr H.R. Khusrokhan, was appointed on February 19, 2001, for a period of three years. So, his term will end on February 18, but ...
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