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Tuesday, April 06, 2004

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ANNOUNCEMENTS
Coke offers to supply water at Plachimada
COCA-COLA, caught in a controversy over its use of groundwater at Plachimda in Palakkad district, has offered to supply drinking water to people around the plant if it is allowed to function. In its submission to the State Government, Coke has ... More

TNPL stops production due to water shortage
TAMIL Nadu Newsprint and Papers Ltd has stopped production at its facility due to shortage of water, according to information provided by it to the stock exchange. Production is expected to restart depending on water availability, it has said. ... More

Mercedes hits the road on biodiesel
TOUR of India, the first phase of DaimlerChrysler India Ltd's cross-country drive with the Mercedes Benz C Class running on biodiesel generated from Jatropha plants, was flagged off here on Monday. The 5,000-km drive will cover hard terrain, ... More

Deccan Gold Mines finds deposits at Dharwad-Shimoga basin
DECCAN Gold Mines Ltd has said that it has found "feasible" gold-bearing ore deposits at the Dharwad-Shimoga basin where it started drilling about two weeks back. The "intersections" were found at depths of 42-45 m and were estimated to produce ... More

PREFERENTIAL ALLOTMENTS
Shriram Transport to consider pref issue on Friday
SHRIRAM Transport Finance on Monday announced that its governing board would meet on April 9 to consider a preferential allotment of equity to UTI Bank and Shriram Chits & Investment in order to raise Rs 13.71 crore. In a notice to BSE, the ... More

OVERSEAS BORROWINGS
IIEL gets Rs 55-cr credit line from German bank
INDIAN Infrastructure Equipment Ltd (IIEL), a member of the Srei International Finance group, has been sanctioned a 10-million euro (Rs 55 crore) line of credit by Hypo-und Vereins Bank AG, Germany (HVB), one of the largest banks in Europe. ... More

COURTS/LEGAL ISSUES
Madras HC orders payment for small depositors of MCC Finance
AS a final settlement of the dues of small depositors of the Chennai-based MCC Finance Ltd, which has since been wound up, the Madras High Court has directed the Administrator of the company to disburse to the 9,989 depositors (whose total ... More

Some smokestack wisdom for infotech age
BURIED in tomes of tax cases are tales that never die. One such is Textile Machinery Corporation Ltd, Kolkata vs. The Commissioner of Income Tax, West Bengal case, decided by the Supreme Court more than a quarter century ago. It is suddenly in ... More

ENVIRONMENT
Eco concern over Chemplast's Krishnapatnam plant
THE proposal by Chennai-based Chemplast to establish a PVC plant at Krishnapatnam in Nellore district continues to be a matter of concern due to pollution-related issues, according to Capt. J. Rama Rao, Convenor of Movement for Sustainable ... More

CORPORATE GOVERNANCE
`More corporate governance practices must be adopted'
THE enormous challenge of corporate governance in a highly disparate business environment, where corporate frauds thrive, can be best met through a "triple bottom line approach", according to Dr Madhav Mehra, President of the London-based World ... More

NEW PROJECTS
Pfizer finds new facility in Maharashtra to manufacture Gelusil
THE recall of Gelusil liquid, the antacid from Pfizer India has eaten into the drug firm's revenues in the last quarter. But having snapped ties with the company that manufactured Gelusil for Pfizer in the past, the multinational company (MNC) ... More

ALLIANCES & JOINT VENTURES
Tata Power in pact with Gail, BP on Dabhol project
TATA Power Company Ltd on Monday signed an agreement with Gail (India) Ltd and BP to evaluate the takeover of the neglected Dabhol power project and LNG import terminal. The three companies will speak to stakeholders in the controversy-ridden ... More

OUTLOOK
Toyota may launch Daihatsu for Indian roads
THE much-awaited small car from Toyota for the Indian market could be under the Daihatsu marquee. Industry sources said that Toyota Kirloskar Motor (TKM), the Indian subsidiary of the Japanese automobile major may consider launching the Daihatsu ... More

No takers yet for BHEL supercritical boilers
Bharat Heavy Electricals Ltd fears it may not be able to participate in the growing market for supercritical boilers, despite having the technology. Supercritical boilers are a special type of boilers that are more efficient. Because higher ... More

Finolex set to double PVC resin capacity
FINOLEX Industries Ltd is set to double its poly vinyl chloride (PVC) resin manufacturing capacity from the current 1,30,000 tonnes to 2,60,000 tonnes. Talking to a group of visiting journalists at the company's plant, Mr Saurabh Dhanorkar, ... More

TeamLease consolidating recruitment services
WHILE most companies in the people sourcing business have followed the predictable route of search, recruitment and leasing, TeamLease kicked off with leasing and is now consolidating its search and recruitment services. Explaining that this ... More

PERFORMANCE
Steel prices, VRS impact BHEL Tiruchi unit
A RS 60-crore additional burden due to steel price hikes and a Rs 40-crore spend on VRS have eaten into the profits of BHEL's Tiruchi unit. In 2003-04, BHEL Tiruchi, which makes boilers for power plants, achieved a turnover of Rs 2,077 crore. ... More

DaimlerChrysler to drive in jeeps, Mercedes CVs
JEEPS and then perhaps commercial vehicles from the Mercedes stable seem to be what DaimlerChrysler is lining up for the current calendar year. Talking to presspersons, Mr Hans Michael Huber, Chief Executive Officer, DaimlerChrysler India Ltd ... More

NTPC net up 36 pc; records 100 pc billing collection
NATIONAL Thermal Power Corporation Ltd (NTPC) has recorded a net profit of Rs 4,905 crore on a gross revenue of Rs 25,184 crore during fiscal 2003-04, registering a 36 per cent rise over the previous year's figures. Announcing the results ... More

Essar Steel posts 11% volume growth
ESSAR Steel Ltd has posted an 11 per cent growth in sales volume to 1.91 million tonnes for the year ended March 31, as against the previous corresponding 1.72 million tonnes. According to an official statement here on Monday, HR coil ... More

ECONOMIC OFFENCES
Nuke row: UAE freezes accounts of SMB Computers
THE United Arab Emirates has frozen the accounts of Dubai-based computer company SMB Computers as part of an investigation into the role of company owner, Mr Syed Tahir Al Bukhari, in a global network dealing with nuclear information, according ... More

PEOPLE
GFCL appoints company secy
GODAVARI Fertilizers and Chemicals Ltd (GFCL) has informed the bourses that the company has appointed Mr P. Varadarajan as Company Secretary. The company also stated that it has co-opted Mr. N Santosh Reddy as Additional Director on the ... More


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