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Tuesday, May 04, 2004

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ANNOUNCEMENTS
Terex Vectra Equip. invests $12 m in Indian facility
CONSTRUCTION equipment maker Terex Vectra Equipment today announced the launch of its Indian operations and said that it has made an initial investment of $12 million (around Rs 53.4 crore) for this. Terex Vectra Equipment, a 50:50 joint ... More

ABB unveils new wiring accessories
ABB Ltd has launched a new range of wiring accessories including switches, regulators and sockets for the Indian market. The company has invested Rs 15 crore towards manufacturing this new line of products till date, the Managing Director, Mr ... More

Aarti Drugs plans unit in China
AARTI Drugs Ltd (ADL), which develops processes for active pharma ingredients (APIs) and intermediates, is planning to have an API manufacturing facility in China to route its exports to regulated markets as well as the Chinese ... More

Tata Power board to meet for raising funds
Tata Power Company on Monday told the Bombay Stock Exchange that its board of directors will, on May 12, discuss plans to raise funds for the company's present and future needs. The company, however, did not specify how much money it would ... More

Volvo shifts to new platform as truck sales take a dip
TRUCK maker Volvo India has shifted to a completely new platform for trucks even as its sales for 2003-04 dropped in several segments. The Volvo India Managing Director, Mr Ulf Nordqvist, told Business Line that the company has shifted ... More

Indo Rama Synthetics hikes yarn prices
INDO Rama Synthetics (I) Ltd (IRSL) has increased the basic price of 130/34 partially-oriented yarn (POY) by Re 1 per kg effective from May 1. The basic price of 130/34 POY has been pegged at Rs 68.25 per kg. A statement issued by the ... More

Reliance raises product prices
RELIANCE Industries Ltd on Monday raised prices of four of its petrochemical products. Prices of polyester intermediary products mono-ethylene glycol was raised to Rs 47.75 per kg from Rs 45.95 per kg last month, purified terephthalic acid ... More

Dr Reddy's moves US hqrs to New Jersey
DR REDDY'S Laboratories Ltd has announced that it has shifted its North American headquarters from its old home office in Upper Saddle River in New Jersey to more modern facilities in the Somerset Corporate Centre at Bridgewater in central New ... More

  • IVRCL bags housing project

    ACCOUNTING STANDARDS
    Will `dual practice' become a thorny issue? — Institutes' coordination committee to meet this week
    WILL allowing `dual practice' become a thorny issue for the three professional institutes — company secretaries, chartered accountants and cost & works accountants — that are making efforts to create a synergy between their ... More

    OVERSEAS BORROWINGS
    PFC gets ECB clearance to raise $100 million
    POWER Finance Corporation (PFC) has obtained permission from the Government to go ahead with an external commercial borrowing of $100 million. PFC will be raising the funds from the overseas markets by the end of the month, senior PFC officials ... More

    FINANCIAL PERFORMANCE
    HEG to pay 30 pc
    NEW DELHI: GRAPHITE Electrode manufacturer HEG Ltd, a LNJ Bhilwara Group company, has reported a net profit of Rs 51.02 crore on a gross income of Rs 480.60 crore for the year ended March 31, 2004. The board of directors of the company ... More

    HUMAN RESOURCES
    Hewitt launches `Best employers in India 2004'
    HEWITT Associates, a global human resources outsourcing and management consulting firm, on Monday announced the launch of the `Best Employers in India 2004' research study in association with CNBC India. The `Best Employers' research, ... More

    CORPORATE BONDS
    Riding on convertibles in global markets
    EVEN those who dreamed up the best-selling Indica at Tata Motors or the stylish Scorpio at M&M would have hardly imagined that foreign investors would fiercely undercut one another to own their "convertibles". These companies recently sold some . More

    RESTRUCTURING

  • Amit recast plan okayed

    NEW PROJECTS
    SBI Caps made lead arranger for MCF coke unit financing
    MANGALORE Chemicals & Fertilizers Ltd (MCF) has appointed SBI Capital Markets as its lead arranger to structure the financing of its proposed Rs 360-crore metallurgical coke manufacturing facility. "We are looking into the various aspects of ... More

    REGULATORY BODIES & RULINGS
    Panel told to fine-tune proposal to grade Companies Act violations
    THE Department of Company Affairs (DCA) has asked the committee examining existing penalty and compounding provisions under the Companies Act to fine-tune its proposal to grade violations under the Act. The Department, according to informed ... More

    ALLIANCES & JOINT VENTURES
    Ashok Leyland broadens scope of pact with ZF
    ASHOK Leyland Ltd has signed a collaboration agreement with ZF of Germany, world leader in transmission, for local manufacture of ZF's 9-speed synchromesh gearbox. "Leading commercial vehicle manufacturers in Europe, Japan and Asia, currently ... More

    Manipal ties up with Quintiles for clinical trials
    THE Manipal Group has tied up with Quintiles Research (India) Pvt Ltd to be its preferred national partner in clinical trials in India, Nepal and South East Asia. According to the agreement they have signed, Quintiles will have access to ... More

    SAR Silicon to join EaglePicher to enter auto battery sector
    SAR Silicon Systems, a manufacturer of UPS systems and inverter batteries familiar with the Luminous brand, has sewn up plans to foray into automotive batteries in partnership with the US-based $685-million EaglePicher Inc, to be produced in the ... More

    Abu Dhabi signs MoU with Volkswagen
    THE Abu Dhabi Government has signed a memorandum of understanding with Germany's premier carmaker Volkswagen for industrial cooperation, according to the official Emirates News Agency, WAM. The MoU was signed in ... More

    INTERVIEW
    `Film industry has the potential to grow 70 pc'
    THE Indian film and entertainment industry has a tremendous export potential, not merely in the Indian Diaspora market but across a larger universe of movie lovers around the globe, says Mr Amit Khanna, President, Film Producers' Guild of ... More

    PERFORMANCE
    Tatas' common branding paying
    THE Tata group, which started a common branding strategy for all companies in its fold in the 1990s, has seen the share of brand-driven segment increase in both sales turnover and profit after tax. From 22 per cent of sales turnover in 1992-93, ... More

    TVS Motor sales slip in April
    TVS Motor Company's total two-wheeler sales in April 2004 stood at 81,032 units compared to 84,747 units, during the same period last year. The April sales of motorcycles dropped by one-fifth compared to the same month last year. TVS Motor ... More


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  • Top Stories
    Managing the capital flow bonanza


    SC judgment on Securitisation Act — Recovery follow-up to be tough for lenders

    Leather exporters score gains in German, Italian markets

    Second-rung corporates, SMEs rush for T-bills

    Cement despatches higher in April

    Boom time for IT, ITES realty offtake

    Coffee exports come to a standstill

    Looking back
    Apr. 25-May. 1
    Nicholas Piramal to invest Rs 200 cr in R&D, expansion

    It may be curtains for NTC showrooms too

    Reliance lays out Rs 35,000-cr capex plans


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