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Thursday, April 22, 2004

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ANNOUNCEMENTS
TVS Motor declares second interim 70 pc
THE board of directors of TVS Motor Company on Wednesday declared a second interim dividend for the year 2003-04, of 70 paise for each Re 1 share (70 per cent). This takes the total dividend for the year, declared so far, to Rs 1.3 per share, ... More

Coke commissions rainwater harvesting project phase III in AP
COCA-COLA India has commissioned its third and final phase of rainwater harvesting project at the company's bottling plant in Ameenpur, near here, on Wednesday. The first phase of the project was launched in June 2000. According to a company ... More

GM plans to launch six Tavera variants
GENERAL Motors India (GMI) will be launching six variants of the Chevrolet Tavera, its new multi-utility passenger vehicle. The entry level variant of the Tavera, which is scheduled to be rolled out by mid-May, will be priced as low as Rs 6 lakh ... More

Chemfab Alkalies mulling equity issue
CHEMFAB Alkalies Ltd has informed the stock exchange that it is considering issue of either equity or preference shares. Chemfab's Chairman and Managing Director had earlier told this newspaper that the company wanted to raise Rs 7 crore from the ... More

Tata Motors to export trucks to Russia
TATA Motors has received a $3.5-million order to export light commercial vehicles to Russia. This order is for 400 trucks, the company's spokesperson said. The company will be exporting truck kits which will be assembled in Russia. The exports ... More

OVERSEAS BORROWINGS
Zee Telefilms to issue $100-m FCCBs
ZEE Telefilms Ltd has informed the BSE that the company has decided to issue Foreign Currency Convertible Bonds aggregating $100 million in the international market. The issue also includes a greenshoe option of $15 million. The bonds will be ... More

CREDIT RATING
ICRA downgrades Falcon Tyres, HMT
ICRA has downgraded Falcon Tyres Ltd's Rs 5-crore commercial paper programme to A2+ indicating high safety in short term from A1, an ICRA news release said. The rating revision takes into account the current supply overhang in the domestic ... More

MERGERS & ACQUISITIONS
CESC shareholders force poll on proposed merger of Balagarh Power, CESCON
THE shareholders of CESC Ltd at an extraordinary general meeting convened here on Wednesday for approving the proposed Scheme of Arrangement for amalgamation of Balagarh Power Company Ltd (BPCL) and CESCON Ltd with CESC (transferee company), and ... More

ALLIANCES & JOINT VENTURES
Strides forms JV with Akorn to tap hospital segment in US
STRIDES Arcolab Ltd on Wednesday announced that it was starting a joint venture in Chicago with US pharma company Akorn Inc to enter its products in the vast US hospital market. The products are expected to hit that market by the first quarter of ... More

INTERVIEW
`Orissa project crucial for cutting down raw material imports'
JINDAL Stainless has ended the 2003-04 fiscal on a robust note. The company expects to sustain its topline growth primarily on continuing strong demand for stainless steel, Mr Arvind Parakh, Director (Finance), told Business Line. ... More

OUTLOOK
`Tired' Coke mulls pulling out of Kerala
COCA Cola India (CCI) has indicated that it may consider closing down or relocating its troubled plant at Plachimada near Palakkad in Kerala. The operations of the plant, at the centre of a controversy for alleged misuse of groundwater, have ... More

Everest Ind sees Rs 200-cr turnover — Plans capacity expansion
EVEREST Industries Ltd (EIL), an ACC subsidiary, is in growth mode. Aided by an increase in sales volume of its roofing products, the company is likely to record a turnover of about Rs 200 crore for the year ended March 31, 2004. Roofing ... More

TNPL scouts for partner to set up stationery products unit
TAMIL Nadu Newsprint and Papers Ltd (TNPL) is looking for a partner to set up a high quality stationery products manufacturing facility to cater mainly to export markets. The project is expected to cost about Rs 75 crore with equal portions of ... More

PERFORMANCE
Economy pricing does the trick for Coca-Cola — Unit case volumes up 22 pc in India
DESPITE being dogged by one controversy after another, Coca-Cola India seems to have hit the right note with its single serve, economy pricing strategy. The company's first quarter results announced on Wednesday state that in India "the ... More

Marico industries: Holding up, against odds
MARICO Industries has delivered reasonable sales and profit growth in a challenging year for FMCG companies, thanks to good showing from new product launches and a conscious strategy of passing on input cost spikes to consumers through higher ... More


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Economy pricing does the trick for Coca-Cola — Unit case volumes up 22 pc in India


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