MANPOWER
FACT plans second round of VRS
FERTILISERS and Chemicals Travancore Ltd (FACT) has said it is planning to introduce another round of voluntary retirement scheme (VRS) to reduce its workforce by a 1,000 as the ailing public sector company hopes for a turnaround next ... More

SOCIAL WELFARE
`FedEx committed to corporate social responsibility'
TODAY, more than ever, corporates have become acutely aware of the need to be seen as socially responsible citizens, so much so that corporate social responsibility flows from a company's business mission. FedEx, which has set itself the ... More

RESTRUCTURING
BIFR directs trifurcation of Ferro Alloys Corpn — Results for fourth quarter postponed
THE Board for Industrial and Financial Reconstruction (BIFR) has approved a rehabilitation scheme for the ailing Ferro Alloys Corporation Ltd (FACOR), which could help its early revival. According to FACOR sources, BIFR at its hearing held on ... More

SHORT TERM INSTRUMENTS
Bombay Dyeing retains rating
ICRA has retained the A1+ rating assigned to the Rs 100 crore short-term debt programme of Bombay Dyeing & Manufacturing Company Ltd. The rating indicates higher safety in the short term. The rating also takes into consideration the strong ... More

MERGERS & ACQUISITIONS
Pfizer to appoint valuers for Pharmacia merger
PFIZER Ltd told its shareholders here on Thursday that it would appoint valuers for the merger of the two listed companies, Pharmacia Healthcare Ltd and Pfizer. Mr R.A. Shah, Chairman of Pfizer, said, at the company's annual general meeting, ... More

NEW PROJECTS
Jindal Steel to complete expansion ahead of schedule
JINDAL Steel & Power Ltd (JSPL) is all set to complete its expansion in the steel and power sectors ahead of schedule. The company has informed the stock exchanges that various projects, with an estimated investment of Rs 550 crore, which were . More

OUTLOOK
HLL chalks out 10-point plan to rebuild margins
THE decline in margins across all categories is clearly a major issue for Hindustan Lever Ltd (HLL) prompting it to put forward a 10-point programme to address it. Mr M.S. Banga, Chairman, HLL, also acknowledged competitive pressures and ... More

Reliance lays out Rs 35,000-cr capex plans
RELIANCE Industries today said it would spend Rs 35,000 crore over the next five years; nearly three-fourths of it on exploration, production and marketing of oil and gas. Mr Anil Ambani, Vice-Chairman and Managing Director, Reliance ... More

Nestle India to tap new markets to boost exports
NESTLE India is looking to improve export performance through new markets and product opportunities, as it feels that there is a need to reduce dependence on select products and markets. The company is in the process of developing export products ... More

PERFORMANCE
Reliance: Both petrochemicals, oil refining drive growth
FOR the first time since the merger of Reliance Petroleum with itself, Reliance Industries has struck a purple patch with both its divisions — petrochemicals and oil refining — encountering favourable trends at the same time. The ... More

Hindustan Lever — Under pressure on several fronts
FEW will be surprised that Hindustan Lever's net profits have declined for the quarter ended March 2004. Profitability was widely expected to be squeezed, after the high-profile price wars unleashed this quarter saw the company slashing the price ... More

In-house R&D products fetch BHEL Rs 575 cr
BHARAT Heavy Electricals Ltd (BHEL) has achieved a turnover of Rs 575 crore — nearly seven per cent of the company's total turnover in 2003-04 — from commercialisation of products and systems developed through in-house research and ... More