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Wednesday, May 12, 2004

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ANNOUNCEMENTS
HPCL bidding for Kuwait Petroleum outlets in Thailand
HINDUSTAN Petroleum Corporation Ltd has said it is bidding for the retail outlets of Kuwait Petroleum in Thailand. In a notice to the stock exchanges, the company said it has submitted a non-binding bid for the downstream marketing assets of ... More

A bike for Rs 2 lakh: Await Kinetic launch
TWO-wheeler maker Kinetic plans to launch the Rs-2 lakh Comet, the sports bike from South Korean Hysong Motors, in August and plans to focus more on the scooter segment this year. "We plan to launch another Hyosung bike this year, the 250-cc ... More

British Petroleum to standardise lubricants brands across markets
BRITISH Petroleum Plc is working on standardising its lubricants brands across the world. A senior company official said it would consolidate its lubricant products under five major brands. The initiative would begin with its flagship brand ... More

AB Electrolux to source Rs 135-cr worth projects from India
SWEDISH household appliances major AB Electrolux, which had set up its sourcing division in India eight months back, has identified projects worth Rs 135 crore where it will use its sourcing expertise. The company has awarded orders of components ... More

JK Ind likely to hike tyre prices
J.K. INDUSTRIES (JKI), manufacturer of J.K. Tyres, is likely to take a call on going in for another round of price increase in its products in ``early June or sometime during that month'', according to Mr Ajay Kapila, Marketing Director, ... More

EASE Lab chief in Endocrine Tech board
ENDOCRINE Technologies (India) Pvt Ltd has inducted Dr P.K. Chun, Chairman of EASE Laboratories, San Francisco, and President of EASE Laboratories, China, into its scientific advisory board. The Hyderabad-based bio-technology and bio-diagnostic ... More

ESOPS
TV 18 board meet to take up stock option plan
THE board of directors of Television Eighteen India Ltd will meet on May 18 to consider the introduction and implementation of TV18 Employee Stock Option Plan, 2004 and TV18 Employees Stock Purchase Plan, 2004. The company is also planning to ... More

COURTS/LEGAL ISSUES
Dr Reddy's files review petition on Norfloxacin
DR Reddy's Laboratories Ltd has filed a review petition in the Andhra Pradesh High Court requesting a re-look of the court order with respect to Norfloxacin, one of its leading earners. The High Court had recently issued a common order ... More

MERGERS & ACQUISITIONS
Germany's BHW takes over Birla Home Fin
BHW Holding AG, one of the largest private sector retail home finance companies in Germany, has acquired 100 per cent stake in Birla Home Finance Ltd in a "friendly takeover". The German company has paid Rs 110 crore to increase its stake in ... More

Clarity on Aventis status unlikely to dawn at AGM
SHAREHOLDERS may flock to Aventis Pharma's shareholder meeting, scheduled for early June, to ferret out information on the course of the company's operations in India - given that it was recently acquired globally by France's ... More

Lotte acquires 20 pc of Parrys
THE public offer by Lotte Confectionery Co Ltd of Korea for the shares of Parrys Confectionery Ltd has netted 7,54,258 shares (20 per cent) at Rs 283.25 per share. According to a post-offer notice of the BSE on May 7, Lotte Confectionery holds ... More

DIVERSIFICATION
Hindustan Motors plans entry into renewable energy sector — Plans 6 MW rice husk-based plant
HINDUSTAN Motors Ltd (HM) plans to enter the renewable energy sector by setting up a 6 MW power plant based on rice husk. The plant is proposed to be set up in Hooghly district where the HM factory is located. The company revealed its plans ... More

RIGHTS ISSUE
Beeyu Overseas may defer Rs 10-cr issue
PERCEIVED political uncertainty and the fluctuating stock market may force the city-based Beeyu Overseas Ltd to postpone its proposed rights-cum-public issue. Beeyu Overseas, a leading tea and commodity exporter, was planning to come out with a ... More

OUTLOOK
Canon aims at Rs 700-cr turnover
CANON India Pvt Ltd hopes to achieve a turnover of Rs 700 crore by 2007. In 2004, the company expects to generate a turnover of Rs 270 crore. Of this, sales of consumer imaging products alone will account for Rs 100 crore, according to Mr Alok ... More

Nanda brothers headed for another clash — Escorts Heart Institute again the bone of contention
THE stormy row between the Nanda brothers over the status of Escorts Heart Institute and Research Centre (EHIRC) does not seem to have abated. It may take a fresh turn on Wednesday at the Escorts Ltd board meeting, with the younger brother, Mr ... More

PERFORMANCE
Bharat Forge benefits from robust auto sales
BHARAT Forge's earnings performance was in line with expectations. In the year 2003-04, sales growth in the domestic markets was much higher than that in the overseas markets. Revenue from the domestic market rose 37 per cent while exports rose ... More


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Top Stories
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