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Thursday, May 06, 2004

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ANNOUNCEMENTS
Prathista Ind set to market bio-fertilisers, bio-pesticides soon
PRATHISTA Industries Ltd (PIL), the Hyderabad-based company in technology partnership with the Regional Research Laboratories (RRL), Jammu proposes to launch bio-fertilisers and bio-pesticides on May 11, the national Technology Day. Addressing ... More

Balrampur Chini puts the cork on IMFL business
SUGAR major Balrampur Chini Mills Ltd has pulled out of the IMFL (Indian Made Foreign Liquor) business. The company, which entered the IMFL sector as a forward integration in the last quarter of 2002, recently came out of it, as the management ... More

Skoda puts off Superb, Fabia launch — Hands full with a slew of new models
CZECH auto maker Skoda Auto has put off the launches of its high-end car, Superb and mid-size car, Fabia because of a busy year ahead and production constraints. Skoda Auto India's head for sales and marketing, Mr Bipin Datar, told Business ... More

ONGC to set up five retail outlets in current fiscal
OIL and Natural Gas Corporation (ONGC) plans to set up around five retail outlets in 2004-05. The company is also planning to set up a LNG terminal at Mangalore besides a power plant. ``We will set up five or less retail outlets in the current ... More

Gail-Reliance in tussle over gas pipeline
RELIANCE Industries Ltd (RIL) and Gail (India) Ltd are embroiled in a tussle over the ownership of gas transportation lines to evacuate RIL's gas find in the Krishna-Godavari basin to the consumption centres in north and west India. There is ... More

HPCL keen on stake in Shell's Hazira terminal
HINDUSTAN Petroleum Corporation Ltd is to begin talks with Shell India soon for buying a stake in its 2.5 million-tonne LNG terminal at Hazira, Gujarat. HPCL is interested in marketing LNG, to be imported by Shell later this year, to its ... More

Pioneer Embroideries meet on May 10
PIONEER Embroideries Ltd has informed the BSE that a meeting of the company's board will be held on May 10 to consider and evaluate appropriate funding options for the company's plan to expand its retail network under the Hakoba Brand, and also ... More

Magna Electro Castings devises `metal price index'
MAGNA Electro Castings Ltd (MECL), which manufactures iron castings and steel components, has developed a `metal price index' that reflects the price of key raw materials and serves as a benchmark to fix the price of finished goods. The company ... More

RESTRUCTURING
Ayurvedagram hived off as separate entity
AYURVEDAGRAM Heritage Wellness Centre Pvt Ltd (AHWC), till now run as a subsidiary of the Rs 13.09-crore Kerala Ayurveda Pharmacy Ltd (KAPL), has been hived off as a separate business entity with its own capitalisation of about Rs 3 crore. The ... More

Haldia Petro-Gail equity pact: Sticky issues remain
THE nitty-gritty of the shareholders' agreement between Haldia Petrochemicals Ltd (HPL) and Gail India Ltd is now being worked out. State Government officials said that while there was "no dispute on the financial side", some operational and ... More

MERGERS & ACQUISITIONS
Gail in talks for 22 pc stake in Egypt's NatGas
GAIL (India) Ltd is in negotiations to acquire a 22 per cent stake in Egypt's largest city gas distribution firm, NatGas. It is also eying the prospect of acquiring British Gas' entire holding (45 per cent) in Nile Valley Corporation. EK ... More

Air France's KLM buy may not affect India
THE announcement of Air France buying KLM Royal Dutch Airlines NV and creating the world's largest airline group in revenue terms is being viewed as a beginning of a major consolidation in the global aviation industry. "Whether you call it an ... More

NEW PROJECTS
Lifan firms up plans for engine, bike unit
THE Rs 22,000-crore China-based Lifan Group has firmed up its plans for the Indian market. The company is in the process of setting up a motorcycle manufacturing unit in Manesar and an engine plant in Pune. ``We are investing about Rs 250 ... More

ALLIANCES & JOINT VENTURES
Asian Paints arm, Berger Paints Pakistan in pact
ASIAN Paints India Ltd has informed the BSE that Berger International Ltd (BIL), its Singapore-based subsidiary, has entered into a technical consultancy and advice arrangement with Berger Paints Pakistan. This arrangement puts at Berger Paints ... More

INTERVIEW
`Reduction in interest outflow will boost bottom line'
JINDAL Steel and Power Ltd (JSPL) runs India's largest coal-based sponge iron manufacturing plant. It has, in a short period, expanded its activities into the related fields of steel manufacture and power generation. Spotting a strong growth ... More

RIGHTS ISSUE
Electrolux Kelvinator reduces losses in Q1 — Rights issue fully subscribed
AFTER going through a period of restructuring and rightsizing, Electrolux Kelvinator Ltd (EKL), the Indian subsidiary of AB Electrolux Group, has achieved a 42 per cent sales growth in volume terms and 49 per cent growth in value terms in the ... More

STANDARDS & BENCHMARKS
`Quality control vital to validate diagnostic results'
BIO-RAD Laboratories, a company that markets quality control material for diagnostic machines, on Wednesday held a workshop here to increase awareness of the importance of its products in gauging the accuracy of the results of diagnostic ... More

OUTLOOK
Baxter pegs 30 pc growth this fiscal
BAXTER India is hoping to register growth of 25-30 per cent during the current year. According to Mr Sanjiv Verma, Managing Director, Baxter India, the company registered a turnover of Rs 200 crore during 2003 and hopes to grow in the area of ... More

Marico to focus on branded coconut oil
MARICO Industries Ltd will focus on increasing the market size for branded coconut oil in a bid to grow its Parachute brand, Mr Harsh Mariwala, Chairman & Managing Director of the company, has said. "We are looking at increasing the market size . More

Coke may restart Palakkad unit after State Govt nod
COCA-COLA India (CCI) plans to reopen its Palakkad unit from June 15 if the Kerala Government allows it to restart operations, the Vice-President (Public Affairs), Mr Sunil Gupta, said while denying reports that the company would close down the ... More

Indal gets nod for Rs 2,000-cr phase-II expansion plan
INDIAN Aluminium Company Ltd's (Indal) second phase expansion programme, entailing an investment of about Rs 2,000 crore, has been approved by the company's board. The proposed expansion programme is to be completed by 2007. Under the expansion ... More

K Sera Sera hopes to triple turnover to Rs 75 crore
K SERA Sera Productions Ltd is expecting to triple its turnover to Rs 75 crore during the current fiscal from Rs 24 crore the previous year, mainly by scaling up its productions. The company plans to release six to eight films this fiscal and ... More

PERFORMANCE
Jay Shree Tea turns around Singbuli estate
After running the garden for a little over six months, Jay Shree Tea was able to reduce the losses of Singuli estate to around Rs 36 lakh. More

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