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Friday, March 19, 2004

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ANNOUNCEMENTS
Tata Steel raises beneficiation capacity
TATA Steel has raised its beneficiation capacity from its 1990 nameplate capacity of 1.08 lakh tonnes per annum to 4 lakh tonnes as a measure of mineral conservation. It plans to further increase this capacity to 7 lakh tonnes at an additional ... More

Apollo Health launches specialised maternity centres
APOLLO Health and Lifestyle Ltd (AHLL), the wholly-owned subsidiary of Apollo Hospitals, has launched boutique maternity centres. To be called `The Cradle,' these state-of-the-art specialised maternity care centres will cater to the needs of ... More

Maruti launches LPG Omni
MARUTI Udyog has launched an LPG-equipped variant of the Omni Cargo at Rs 1.78 lakh. According to the company, the Omni Cargo LPG will appeal to a diverse range of businesses, but notably retail and distribution businesses. The engine of the ... More

GAIL restores gas supply to Samtel Color
GAIL (India) Ltd has restored gas supply to Samtel Color Ltd (SCL), a maker of integrated picture tubes and part of the Rs 1,250-crore Samtel group. According to a company communiqué, it had shifted to other fuels when GAIL had discontinued the ... More

COMPANY LAW
Unsecured director loans to companies not `deposits'
This would help closely held public companies to tide over temporary financial difficulties by raising resources from directors. More

COURTS/LEGAL ISSUES
Mumbai HC adjourns L&T plea for unit de-merger
THE Mumbai High Court hearing on Larsen & Toubro's petition for sanction of de-merger of its cement division turned out to be more than just a formality, ending up in its postponement for next week. The Mumbai HC was to hear the petition on ... More

TAXATION
MAT strengthens India Inc.
Minimum Alternative Tax possesses important properties that have strengthened India Inc. It infuses realism and sanity into corporate earnings. It provides strong economic disincentives to companies that may want to overstate incomes. MAT makes it di fficult for companies to get away with inflated earnings. The case for retaining and reinforcing MAT has become stronger now, say G. Ramachandran and C. Ramesh. More

RESTRUCTURING
Birla Corp to relocate jute biz operations
THE Rs 1,00-crore Birla Corporation Ltd, part of the city-based MP Birla Group, is restructuring its jute business. The company has decided to close down its Soorah Jute Mill. The activities of this unit, located in the heart of the city, will ... More

NEW PROJECTS
Aditya Birla Group firms up plans for aluminium smelter in Orissa
ADITYA Birla Group, jointly with one of its group companies — Indian Aluminium Company Ltd (Indal) has firmed up a Rs 8,500-crore investment plan for a greenfield aluminium smelter in Orissa. The smelter with an annual capacity of 2.6 ... More

SCCWL emerges lowest bidder for APGenco washery
ST-CLI Coal Washeries Ltd (SCCWL), promoted by Spectrum Technologies of the US, has emerged as the lowest bidder for the 11 million tonne coal washery planned by Andhra Pradesh Generation Corporation (APGenco) at Talcher in Orissa. The coal ... More

Cybage Software plans unit near Microsoft HQ
THE Pune-based Cybage Software Pvt Ltd has chalked out plans for setting up a subsidiary in Redmond, US, this year. Talking to presspersons, Mr Arun Nathani, Chief Executive Officer, Cybage, said the primary objective of the Redmond subsidiary ... More

ALLIANCES & JOINT VENTURES
Sanmar group exits joint venture with Dragoco
THE Chennai-based Sanmar group has sold its 49 per cent holding in the joint venture company, Dragoco India Ltd. The Rs 100-crore Dragoco India produces flavours and fragrances, from its plant in Perungudi near here. Fifty-one per cent of the ... More

SICK UNITS
Eastern Coalfield revival scheme gets shareholders' nod
ALL stakeholders in the ailing Eastern Coalfields Ltd (ECL), which include Coal India Ltd (CIL), governments of West Bengal, Jharkhand and operating trade unions, have approved a revised draft rehabilitation scheme for consideration of the Board ... More

OUTLOOK
Tata Motors eyes bigger slice of LCV market
LAUNCHING its latest version of the LCV 407, Tata Motors plans to increase its share in the LCV market from the current 72 per cent to about 85 per cent in the 400 tonne segment. Addressing a press conference today, the Head of Sales and ... More

A.T. Kearney plans portfolio rejig to prop up revenues
"The strategy is to change the price mix and move to higher price points by increasing our share of work for the private sector and global MNCs." More

PERFORMANCE
Aventis Pharma: Cost-cutting pays dividends
IN what could be perceived as an affirmation of its re-rating on the markets, Aventis Pharma has turned in a robust performance for the year-ended 2003. Though topline has grown in lockstep with the overall industry growth rate of 5.3 per cent ... More

TRENDS
Coca-Cola's Kinley plant in Kerala hit by agitation
AFTER being forced to halt operations of its soft drinks plant at Plachimada near Palakkad, following allegations regarding misuse of groundwater, Coca Cola's bottled water business in Kerala is hit by an agitation on the same issue. NeST ... More

Bengal panel flays `undue financial assistance to cos'
EIGHT big private sector industrial houses received financial assistance worth Rs 39.17 crore from the cash-strapped State Government under the State's industry promotion scheme. The companies include big names such as Kusum Products Ltd., ... More


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