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Thursday, February 26, 2004

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ANNOUNCEMENTS
DaimlerChrysler to foray into trucks business this year
THE country's commercial vehicles segment looks like it is going upwardly mobile with DaimlerChrysler announcing on Wednesday that it is all set to foray into the trucks business by the end of the calendar year. The company also plans to ... More

Gammon India bags orders worth Rs 200 cr
IN a significant achievement that will shore up its bottom-line, the Indian construction major, Gammon India Ltd (GIL), has bagged three orders worth Rs 200 crore. The Gujarat Water Supply and Sewerage Board has awarded a Rs 131-crore order to ... More

GAIL to expand telecom infrastructure in south
GAIL (India) Ltd will invest Rs 75 crore in the expansion of its telecommunications infrastructure in South India. The country's largest natural gas transmission company has drawn up ambitious plans for its telecommunications business, which will ... More

STC pays 20 pc interim dividend to Govt
Buoyed by salutary business performance trends during the first 10 months of the current fiscal, the State Trading Corporation (STC) today paid interim dividend of 20 per cent of its capital to the Government of India for 2003-04. The dividend ... More

PTC to talk to pvt players for trading surplus power
POWER Trading Corporation (PTC) will begin negotiations with captive power producers (CPPs) in order to trade the estimated 10,000 MW surplus power that the CPPs have. Stating this, the PTC Chairman and Managing Director, Mr Tantra Narayan ... More

  • SAR signs pact with EaglePicher

    OVERSEAS BORROWINGS
    Phoenix Lamps takes $ loan to replace Re loans
    PHOENIX Lamps Ltd has announced that it is has gone in for a low-cost foreign currency dollar loan to replace its high cost rupee term loans. The company is currently availing a rupee term loan of Rs 30.17 crore from IDBI with an interest rate ... More

    COMPANY LAW
    Disclosure of onsite staff salaries — DCA may grant exemption to IT cos
    INFORMATION technology companies may soon suffer lesser hiccups on disclosure requirements of remuneration to their employees posted overseas. The Department of Company Affairs (DCA) is likely to exempt the IT companies from furnishing such ... More

    GENDER
    Nalco CMD denies sexual misconduct
    MR C. Venkataramana, Chairman and Managing Director, Nalco, at a press briefing here, has denied all charges of sexual misconduct filed against him by a woman employee of the company's Mumbai office. "Needless controversy has been created by ... More

    MMA to organise women's convention
    Is it because women are able to prioritise better than men? Or are there genuine obstacles to women managers in achieving leadership roles? With an increase in the number of women in the work force, these questions become relevant and finding ... More

    MERGERS & ACQUISITIONS
    SembCorp to acquire 51% stake in Medicare Incin
    THE Singapore major SembCorp Industries proposes to acquire a 51 per cent stake in Medicare Incin Pvt Ltd, a wholly-owned subsidiary of the Ramky Group, Hyderabad, to enter the medical waste disposal business in India. The Singapore company, ... More

    NEW PROJECTS
    India Rayon hikes capacity in Gummidipoondi unit
    INDIAN Rayon and Industries Ltd has informed the Bombay Stock Exchange that the brownfield expansion of capacity by 40,000 tonnes at its Hi-tech Carbon Division in Gummidipoondi has been commissioned. The capacity of the plant has now ... More

    Sandvik Asia sets up EOU for cartridges
    AN export-oriented unit for the manufacture of tooling cartridges has been set up by the Pune-based Sandvik Asia Ltd. The plant is expected to become operational from the second quarter of 2004, Mr Anders Thelin, President, Sandvik Coromant ... More

    ALLIANCES & JOINT VENTURES
    NTPC in pact with ASCI for joint research
    NTPC has signed a memorandum of understanding (MoU) with Administrative Staff College of India (ASCI) for carrying out joint research and prepare "well-documented policy options" that would contribute to reform and sectoral growth in the area of ... More

    INCOME TAX
    Cos asked to file e-TDS before March-end
    COMPANIES have to file their Tax Deduction at Source for 2002-03 electronically (e-TDS) by the end of March this year, said Mr P.K. Sridharan, Chief Commissioner of Income Tax in Chennai. The Income Tax department has appointed Integrated ... More

    OUTLOOK
    Tata Motors' Korean buy to boost China plans
    TATA Motors' China plans will get a fillip with the acquisition of Daewoo Commercial Vehicle Company Ltd (DWCV). "We have been working the Chinese market for the last few months, so have they. Now, we will do it together," Mr Ravi Kant, ... More

    Ranbaxy to retain focus on domestic market
    RANBAXY Laboratories Ltd may be spreading its wings in the international markets, but the focus on the Indian markets will continue to remain with the launch of over 20 products this year. According to Mr Malvinder Mohan Singh, ... More

    `Coffee Day Xpress to make net profit in 2 years'
    COFFEE Day Xpress, the Rs 250-crore Amalgamated Bean Coffee Trading Co Ltd (ABCTCL)'s strategic business unit that deals with setting up convenience food and beverage kiosks, is on course to making operating profit in two years. At a ... More

    Somany Tiles eyes 10 pc sales growth — Plans to reach out to customers
    SPL Ltd, the makers of Somany Tiles, aims to increase its sales by 15 per cent in volume terms and 10 per cent in value terms by next year and reach out to its customers directly. "We augmented the capacity of our manufacturing units to 37,500 ... More

    PERFORMANCE
    Alfa Laval: Meeting market expectations
    ALFA Laval (India) declared impressive results for the year ended December 2003 meeting market expectations. The strong order backlog in the beginning of the year translated into a 30 per cent growth in revenues to Rs 376.46 crore for the ... More


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