CORPORATE
ANNOUNCEMENTS
VSP taking steps to overcome coking coal scarcity
VISAKHAPATNAM Steel Plant is facing, like most other plants in the country, severe coking coal scarcity, but all attempts are being made to overcome it and carry on the production unhindered, Mr Y. Sivasagara Rao, Director, Commercial, has ...
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Win-Medicare to focus on gynaecare products
THE UK Modi-promoted Win-Medicare is betting on products for treating gynaecological problems and will shortly launch Divigel, a hormone replacement gel in the Indian market. The company has entered into a licensing agreement with Orion Pharma ...
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BHEL starts wellhead supply to ONGC
BHARAT Heavy Electricals Ltd (BHEL), which secured an order for oil-field equipment from ONGC for supply of wellheads and Christmas trees worth Rs 160 crore, despatched the first assignment of 25 sets each at a function held at Tiruchi, near ...
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ACCOUNTING STANDARDS
ICAI to ban part-time practice for members — Revised AS-15 to deal with VRS expenditure
THE Institute of Chartered Accountants of India (ICAI) has resolved to ban the part-time practice for its members. It has also made the Accounting Standard-26 inapplicable to VRS expenditure. The ICAI President, Mr Sunil Goyal, told ...
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AWARDS & HONOURS
Wockhardt Hospital bags 2 awards
WOCKHARDT Hospital & Heart Institute, Bangalore, has won two awards from the Association of Business Communicators of India (ABCI). ABCI conferred its 43rd annual awards for 2003 for excellence in communication, a Wockhardt release said. This ..
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MERGERS & ACQUISITIONS
Southern Online plans to acquire biotech co
SOUTHERN Online Services Ltd (SOSL), the city-based software and Internet service provider, plans to acquire the complete holding of a biotechnology company called Southern Biofe Bio Fuels (SBBF) for consideration other than cash. According to ...
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ALLIANCES & JOINT VENTURES
Sonalika inks pact with MG Rover for SUVs
AFTER giving tractor majors a run for their money, the Sonalika Group is next targeting the sports utility vehicle (SUV) segment that has already seen about half-a-dozen entries in the past year. The Rs 1,000-crore Delhi-based Group has entered ...
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Spinwell Valliappa to make, market stretch silk yarn
SPINWELL Valliappa of the Valliappa Group will manufacture and market the new stretch silk yarn and fabric, according to a licensing agreement it signed with the National Research Development Corporation. The high-quality stretchable yarn was ...
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INTERVIEW
`Oil industry will lose Rs 3,200 cr this quarter'
INDUSTRY leader in a sector that is undergoing a transition process, Indian Oil Corporation (IOC) is now gearing for the deregulated environment with optimisation packages, etc. Speaking to Business Line, IOC's Finance Director, Mr P. ...
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SICK UNITS
Kerala Govt offers to settle Keltron dues by year-end
THE State Government has offered to direct the public sector Kerala State Electronics Development Corporation (Keltron) to settle the latter's dues to the banks by year-end. At a meeting of the officials of the banks and the company held ...
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OUTLOOK
TVS Motor targets Rs 3,000-cr turnover
TVS Motor Company Ltd is hopeful of closing fiscal 2003-04 with a turnover of Rs 3,000 crore. In 2002-03, the company clocked a turnover of Rs 2,726 crore. According to a company spokesperson, TVS has a 20 per cent share of the motorcycle ...
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PERFORMANCE
`Indica' sales in UK positive
MG Rover Group Ltd today said that it has received a positive response to the sales of the India made Tata Indica cars (sold as the City Rover) in the UK since its launch four months ago. "We have so far registered 3,000 City Rovers in the UK ...
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`IOC top trading co in Asia - Pacific'
INDIAN Oil Corporation (IOC) has emerged as the No 1 company in oil trading among national oil companies in the Asia-Pacific region. According to an IOC press release issued here, a survey conducted in this regard by Applied Trading Systems of ...
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