Financial Daily from THE HINDU group of publications
Thursday, February 19, 2004

News
Features
Stocks
Cross Currency
Shipping
Archives
Google

Subscription

Group Sites

CORPORATE

ANNOUNCEMENTS
Grasim units in Karnataka shut due to water scarcity
GRASIM Industries Ltd has informed the Bombay Stock Exchange that due to water scarcity in central Karnataka, it was forced to stop operations at the pulp and viscose staple fibre (VSF) plants at Harihar. Due to poor monsoons, the Bhadra dam ... More

Orchid drug facility gets European clearance
CHENNAI: Orchid Chemicals and Pharmaceuticals has announced that the European regulator, EDQM, had approved the manufacturing facilities for the company's bulk drug, Cefotaxime Sodium. The approval opens the door for Orchid to export to ... More

IVRCL bags orders worth Rs 71 cr for Rajkot water project
IVRCL Infrastructures & Projects Ltd (IVRCL) has received orders worth Rs 71 crore for the execution of the Narmada Canal Distribution Network (NCD-1) project for Rajkot district water supply scheme from the Gujarat Water Supply and Sewerage ... More

Owens Corning plans glass fibre knitting at Taloja
THE Taloja plant of Owens Corning India Ltd (OCIL), a joint venture between the US-based Owens Corning and Mahindra & Mahindra, will soon have glass fibre knitting capability. Announcing this on Wednesday, Owens Corning said that the investment . More

ACCOUNTING STANDARDS
A sudden spurt of action
Mohan R. Lavi on what the changes to the Accounting Standards Preface imply More

PREFERENTIAL ALLOTMENTS
Aurobindo allots Rs 89-cr worth shares to Merlion
THE board of Aurobindo Pharma Ltd (APL) has allotted 23,70,000 equity shares of Rs 5 at a price of Rs 375 per share, aggregating Rs 88.9 crore, to Merlion India Fund Ltd. The APL shareholders had earlier at the extraordinary general meeting ... More

OUTSOURCING
Companies comfortable driving this outsourcing business
THERE is an outsourcing business that is growing without anybody getting hot under the collar. As companies include cars in executives' compensation packages, attendant issues such as locking money to buy cars and handling maintenance have ... More

AWARDS & HONOURS
Encyclopaedia Britannica wins awards
ENCYCLOPAEDIA Britannica has bagged two awards for "excellence" in book production at the ongoing World Book Fair here. The Federation of Indian Publishers presented the company with the top award in reference category for the Encyclopaedia of ... More

Kribhco bags 3 productivity awards
KRISHAK Bharti Co-operative Ltd (Kribhco) has won three national productivity awards for the year 1999-2000, 2000-01 and 2001-02. While in the year 1999-2000 the cooperative won the second prize, it won the first prize for the next two ... More

RESTRUCTURING
CESC takes initiatives towards pledging equity
THE RPG-group flagship, CESC Ltd, has now begun to make arrangements for pledging 40 per cent of the promoter's equity holding in the company, in favour of lenders. Sources said that this was being done as part of the promoter's obligation in ... More

MERGERS & ACQUISITIONS
Tata Motors acquires Daewoo Commercial for Rs 465 crore
TATA Motors Ltd on Wednesday announced the signing of the investment agreement to acquire Daewoo Commercial Vehicle Co Ltd (DWCV) for a total price of KRW 120 billion, approximately $102 million or Rs 465 crore. "This is a major step for Tata ... More

CORPORATE GOVERNANCE
Independent directors: Chamber opposes panel recommendations
THE PHD Chamber of Commerce and Industry (PHDCCI) has suggested that the minimum number of independent directors required to be appointed by companies should be one-third of the total strength. It said that the significance of the role of ... More

NEW PROJECTS
Reliance chooses NTPC site for power project
RELIANCE has decided to set up a 3,500 MW gas-based power project at Dadri, in Uttar Pradesh. Dadri also happens to house National Thermal Power Corporation's (NTPC) 817 MW gas-fired generation plant. Dadri has the two key ingredients that ... More

The Park proposes two more hotels
THE Park Hotels, a member of the Apeejay Surendra group, plans to open two more units, one each in Mumbai and Hyderabad. It plans to develop a 200-room hotel in Mumbai at an estimated cost of Rs 100 crore. It is yet to freeze on a location. ... More

REGULATORY BODIES & RULINGS

  • Auditors-General meeting today

    OUTLOOK
    Punjab Tractors sees 8-9 pc volume growth
    DESPITE seeing depressed sales for the past couple of years, Punjab Tractors is targeting to end the current fiscal year with a growth of about 8-9 per cent. "We are looking to end with volume sales of over 26,000 units this year from the ... More

    Tata Coffee to focus more on value-added segment
    TATA Coffee sees value-added products accounting for nearly 80 per cent of its sales in the next three to four years. At present, a little over 40 per cent of the 10,000 tonnes coffee that the company grows in its 24,000 acres estates is sold ... More

    Pfizer evaluating products for launch in India
    THERE may not be a flood of new drugs into the Indian market, once the product-patent regime comes into force on January 1, 2005 — but the date is not going unnoticed either. Pharma major Pfizer, for instance, is evaluating products that ... More

    ECONOMIC OFFENCES
    Should gatekeepers be shown the door?
    BIRD flu is not the only infectious disease around. Scandals are infectious too — such as deceit and risk that corrupted the financial markets. And in Infectious Greed, Frank Partnoy discusses how big ... More


    Scoreboard
    SE Diary



    Comments & Letters to the Editor to: bleditor@thehindu.co.in
    Subscribe to: Business Line

  • Pick a Winner Stock Market Contest

    Top Stories
    Tata Coffee to focus more on value-added segment


    PC sales to rise 50 pc this year, says Skoch

    Restriction on outsourcing a retrograde step: Sinha

    MTNL saddled with unutilised network capacity

    Dumping duty on shrimp imports unfair, says industry

    Free trade pact with Singapore likely after polls

    `World steel output may cross 1-b tonne'

    Looking back
    Feb. 8-Feb. 14
    Corporates running a different race!


    The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
    Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

    Copyright 2004, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line