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Thursday, March 11, 2004

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CORPORATE

ACCIDENTS
Fire accident at Suryalata unit in AP
SURYALATA Spinning Mills Ltd has informed the stock exchanges that a fire accident occurred due to short circuit of electricity on Tuesday at one of its factories situated at Kalwakurthy in Andhra Pradesh. The company said the machines and ... More

ANNOUNCEMENTS
LG to exit manufacturing in J&K, Assam
LG Electronics has folded up its manufacturing facilities in Jammu & Kashmir and Assam. The company had set up facilities taking advantage of the tax benefits being offered in these States. However, due to inadequate support from the local ... More

Hind Copper to alter wire bar price declaration system
HINDUSTAN Copper Ltd (HCL) has decided to change the present system of benchmark price declaration for copper wire bar (CWB) beginning from this month, in order to streamline the price of wire bar with other copper products, trade sources ... More

Galileo India offers e-tickets across 12 international airlines
GALILEO India, a global distribution service provider for the travel industry, on Wednesday announced the successful deployment of e-ticketing services on its `computerised reservation system' across 12 international airlines, including American ... More

BSP facing coal shortage; may halt production soon
"With financial year-end round the corner, this coal shortage will deal a huge blow to the fortunes of BSP." More

Training solutions consultancy
KOCHI: Stimulus Consulting Pvt Ltd, a Bangalore-based Corporate Training and Consultancy firm, has entered the Kerala market to provide customised training solutions in the State. The company has opened an office in Kochi and the ... More

Cummins signs agreement with Westport for tech
POWER solutions provider Cummins India Ltd (CIL) has signed a memorandum of understanding (MoU) with Cummins Westport Inc (CWI) as a prelude to the signing of a comprehensive licence and supply agreement which will enable the former to ... More

NCCL bags mega orders
HYDERABAD: Nagarjuna Construction Company Ltd (NCCL) has secured new orders worth Rs 71.54 crore from different clients. These include Rs 20 crore from the Andhra Pradesh Central Power Distribution Corporation Ltd for erection and ... More

  • Wyeth seeks nod to put Forhan's on the block

    PREFERENTIAL ALLOTMENTS
    Pref allotment completed — 2 Michelin nominees inducted onto Apollo Tyres' Board
    TWO Michelin nominees have been inducted into the board of Rs 2,027 crore Apollo Tyres Ltd (ATL). The two directorial berths have been created consequent to the allotment of 57.13 lakh equity shares of ATL (14.9 per cent stake) on a ... More

    Avon Organics allots warrants at Rs 43
    THE allotment committee of the board of directors of Avon Organics Ltd (AOL), a city-based pharmaceutical company, at its meeting on Wednesday has allotted 4.8 lakh convertible warrants to its promoters and a Director. The company informed the ... More

    AWARDS & HONOURS
    3 companies win CII awards
    CHENNAI: ASHOK Leyland's Hosur unit, Brakes India's foundry at Sholingur, near Chennai, and TVS Srichakra were presented CII's awards in safety, health and environment here. A CII press release said Dr M.S. Swaminathan, Chairman of Dr ... More

    ENVIRONMENT
    Rainwater harvesting projects from Coke
    Coca-Cola has commissioned six rainwater-harvesting projects in Palakkad district. A company spokesman quoted Mr Justice B. N. Kirpal, former Chief Justice of India, and Chairman, Coca-Cola India Environmental Council, as saying in Palakkad on ... More

    FINANCIAL PERFORMANCE
    FCI OEN Connectors net up 15 pc at Rs 11.7 cr
    KOCHI: FCI OEN Connectors net profit has grown by 15 per cent to touch Rs 11.7 crore during 2003, as against Rs 10.2 crore recorded for the previous year. Gross profit grew by six per cent to Rs 15.9 crore (Rs 15.1 crore). . Net ... More

    MERGERS & ACQUISITIONS
    IOC wants stake in ONGC Videsh
    INDIAN Oil Corporation (IOC) has asked the Union Government to give the company a "good stake" in ONGC Videsh Ltd, the subsidiary of ONGC that invests in oil ventures abroad. IOC's Chairman and Managing Director, Mr M.S. Ramachandran, told ... More

    Glaxo, Burroughs Wellcome boards to meet on merger
    THE long-pending merger of GlaxoSmithKline Pharmaceuticals Ltd (GSKPL) and Burroughs Wellcome (India) Ltd (BWIL) looks finally set to formalise in India, almost nine years after the two British companies merged globally in 1995. With niggling ... More

  • Lakshmi Electrical buys textile spinning unit

    ALLIANCES & JOINT VENTURES
    Aarti Drugs scouting for partners in China
    NOT everybody fears the Chinese dragon and Aarti Drugs Ltd (ADL) is one such company. The mid-segment pharma company is looking to ink an alliance in China, a deal that is likely to be done in about six months, according to Mr Satish Nachane, ... More

    NTPC-BHEL may drop out of Oman project
    NATIONAL Thermal Power Corporation (NTPC) and Bharat Heavy Electricals Ltd (BHEL) are likely to drop out of the race to bid for Oman Government's $1-billion Sohar Water and Gas project. The last date for submission of bids for the project is ... More

    E-COMMERCE & E-BUSINESS
    FreeMarkets deployed to rein in Dabur costs
    CONSUMER products company Dabur India Ltd on Wednesday announced that it has deployed a `Spend visibility solution' software provided by FreeMarkets Inc to control costs and strengthen the company's procurement process. "The software package, ... More

    OUTLOOK
    Volvo draws up global export hub plans for India
    VOLVO has selected India as its fourth global export hub and plans to outsource more development work to the country. The country has also worked out a new marketing strategy for India to increase its market share in the country. "We should ... More

    Honda hopes to wipe out losses this fiscal
    HONDA Siel Cars India today said that it would wipe out its accumulated losses by the end of the current fiscal year, with sales of the Honda City surging ahead. Company officials said that at the beginning of 2003-04, Honda Siel had ... More

    PEOPLE
    ONGC has new ED
    MR C. Lal, Asset Manager , ONGC, Rajahmundry has been promoted by the Oil & Natural Gas Corporation (ONGC) to the post of Executive Director. In a press release from Rajahmundry, the Corporation said he shall continue to look after ONGC's ... More

    Former HSBC chief joins Wockhardt
    THE former chief executive of the Hongkong and Shanghai Banking Corporation (HSBC), Mr Aman Mehta, has joined pharma company Wockhardt Ltd as a director on its board. The 57-year-old Mr Mehta returned to India only recently after his ... More

  • Hyderabad Ind gets new MD
    Scoreboard
    SE Diary



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