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Saturday, May 22, 2004

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ANNOUNCEMENTS
Baxter's new blood collection system
BAXTER Healthcare has brought its blood collection, processing and storage systems - ALYX Component Collection System - to India. This system extracts the red cells and returns all other components to the donor. According to Mr Sanjiv ... More

IOC finalises deal with RIL for petro goods offtake
INDIAN Oil Corporation Ltd (IOC) has finalised a deal with Reliance Industries Ltd for offtake of diesel, motor spirits, kerosene and liquefied petroleum gas (LPG) from the latter. This was disclosed by Dr N.G. Kannan, Director (Marketing), of ... More

Wander to tap capital market
THE Mumbai-based pharmaceutical company, Wander Pvt Ltd, part of erstwhile Sandoz India, is planning to hit the capital markets after completing its merger with bulk drug manufacturer, Pearl Organics Ltd. Pearl Organics Ltd on Thursday informed ... More

Trading licence of Tata Power cleared
THE Union Government on Friday cleared Tata Power Company's trading licence, senior officials have said. As the country's largest private sector power company, TPC has no objection to supplying free power to farmers provided the state ... More

Voltas to exit venture with France's Sermo Montaigu
VOLTAS Ltd proposes to exit from its joint venture with the French company Sermo Montaigu. The company has decided to sell its equity stake in Sermo PM India Ltd (SPMIL), formerly known as Prefect Moulds Ltd (PML), to the French joint venture ... More

CORPORATE DISPUTES
Devaki Hospital sees management change
DEVAKI Hospital's management was changed at an acrimonious annual general meeting held today for the financial year 2002-03. Consequently, the hospital's promoter, Dr K. Chockalingam and his family members failed to find a place on its governing ... More

FINANCIAL PERFORMANCE
Tata Power: Prepayment of foreign currency loans hits profits
TATA Power's results for the quarter ending March 2004, was a disappointing not only due to the sharp drop in net profits but also due to drop in operating profits. But the drop was due to a one time hit to the tune of Rs 72 .11 crore on ... More

MERGERS & ACQUISITIONS
The dilemma of the L&T shareholder
TO sell or not to sell, to hold or not to hold; ordinary shareholders of Larsen & Toubro have been in a dilemma about their holdings during the last three days, May 18 and May 21 (Friday ) being the last trading days for the stock on the BSE and More

HC okays Tata Chem, Hind Lever Chem merger
THE merger of Hindustan Lever Chemicals Ltd (HLCL) with Tata Chemicals Ltd (TCL) is likely to take place within the next few weeks, thereby creating a more than Rs 3,000 crore chemical and fertiliser company. The High Court of Punjab and ... More

SRF board nod on Kashipur plant buy
SRF Ltd has informed the Bombay Stock Exchange that the company's board on Friday approved a proposal to make an offer to SRF Polymers Ltd to purchase its plant located at Kashipur, Uttaranchal, for the manufacture of polyester film for Rs 50 ... More

NEW PROJECTS
Sundram Fasteners inaugurates China plant
SUNDRAM Fasteners Ltd today inaugurated its China plant to manufacture value added and special fasteners as well as standard fasteners. The plant has been set up in Haiyan county in China. Among those present at the inauguration were Mr Suresh ... More

Banswara Syntex sets up trouser factory in Daman
BANSWARA Syntex Ltd has set up a trouser factory in Daman following a number of requests from its customers to provide them a `package' of value-added products. According to Mr R.L. Toshniwal, Chairman and Managing Director, Banswara Syntex ... More

ALLIANCES & JOINT VENTURES
Pfizer arm in pact with Siro Clinpharm
PFIZER Global Research and Development, through its affiliate in India, has entered into a partnership with Siro Clinpharm, a clinical research organisation. The agreement covers the provision of clinical data management and biometrics ... More

OUTLOOK
Punjab Tractors bullish on exports; eyes US market
PUNJAB Tractors Ltd (PTL), in which the Punjab Government had divested its 23.5 per cent stake in favour of CDC Capital Partners last year, is at present drawing upon an aggressive export strategy for the current fiscal. The company is believed ... More

Kinetic pins hopes on `honest pricing'
KINETIC Engineering Ltd believes its pricing strategy is a key element in growing sales of its two-wheelers. It would rather go in for "honest pricing" and build volumes than keep prices high and "milk the market" only to drop prices ... More

Cetex Petro to focus on fine chemicals biz
CETEX Petrochemicals Ltd, till recently a part of the RPG group, which was acquired by a group of entrepreneurs in April, expects to grow by expanding fine chemicals business and focussing on niche markets. Cetex Petrochemicals was acquired by ... More

Kinetic targets 20 pc growth in topline
TWO-WHEELER manufacturer, Kinetic, on Friday said that it is targeting a topline growth of over 20 per cent to Rs 1,300 crore-1,400 crore this year from Rs 1,100 crore last year due to growing sales of its 125 cc Velocity motorcycle and proposed ... More


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