CORPORATE
ANNOUNCEMENTS
BHEL bags Rs 647-cr order from MSEB
NEW DELHI: Bharat Heavy Electricals Ltd (BHEL) has secured a contract worth Rs 647 crore from Maharashtra State Electricity Board (MSEB) to set up a 250 MW power unit. The order has been placed by MSEB to set up one unit of 250 MW at ...
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Matrix Labs to prepay long-term loans
MATRIX Laboratories Ltd has announced its decision to prepay all its long-term loans estimated at about Rs 68 crore from the proceeds of the preferential offer. In a statement, the Matrix management said that the company has completed allotment ...
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FINANCIAL PERFORMANCE
Dr Reddy's: Overcoming odds
DR Reddy's will probably regard 2003-04 as one of the more challenging years in recent times. The possibility of the company launching a version of Pfizer's blockbuster anti-hypertensive Norvasc in the US market occupied centrestage for the best ...
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CORPORATE BONDS
SSNNL bondholders' meet in Sept likely for buy-back
THE Sardar Sarovar Narmada Nigam Ltd (SSNNL), forced to postpone a meeting of its 4.5-lakh deep discount bond holders on Friday following a SEBI directive on Friday last, may now be eyeing a September meeting to insert a call option to buy back ...
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NEW PROJECTS
Sundram Fasteners' China plant starts commercial sales
THE newly inaugurated plant of Sundram Fasteners Ltd (SFL) in China has begun contributing to the revenues of the company though profits from the unit are not expected until after 2005-06. The plant began commercial sales last week with its ...
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No.1 Sundram Road
THE Chinese officials apparently went all the way to make SFL feel welcome in China. Giving an example, Mr Suresh Krishna said that officials of Haiyan County, where the plant is located, agreed to put up an effluent treatment plant at the ...
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Mirza Tanners plans to set up new unit in UP
THE Rs 200-crore Mirza Tanners Ltd is looking to set up a new tannery in Unnao, Uttar Pradesh, at an investment of Rs 30 crore-40 crore by mid-2005. With this unit in place, the company plans to vertically integrate into the manufacturing of ...
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REGULATORY BODIES & RULINGS
`DCA to adopt online registration by June 2005'
THE Department of Company Affairs (DCA), as per the DCA-21 guideline (pertaining to online service to clients), intends to switch over fully to online registration by June 2005. Speaking at the inaugural session of the sixth national ...
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ALLIANCES & JOINT VENTURES
AmEx corp card, Taj group tie up
AMERICAN Express, the travel-related services company, has tied up with Taj Hotels Resorts and Palaces for a money-saver programme for holders of the AmEx corporate card. Under the `Taj Corporate Plus Programme,' every Rs 85,000 spent ...
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DIVERSIFICATION
Liberty group sets its sights on ceramics, leather accessories
THE Rs 350-crore Liberty group plans to invest around Rs 20 crore on retail chain expansion of the group company, Liberty Retail Revolutions Ltd (LRRL), and diversify into ceramics and leather accessories with an investment of another Rs 15 ...
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SICK UNITS
Inalsa told to explain reference under SICA
THE Board for Industrial and Financial Reconstruction (BIFR) has sought an explanation from Inalsa Appliances Ltd as to why its reference should not be rejected. Musing over the matter, the BIFR Bench noted that the company had filed a reference ...
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OUTLOOK
We will grow faster than any other steel co: SAIL chief
WITH all accumulated losses getting wiped out, Steel Authority of India Limited (SAIL) now plans to step up investments to become a 20 million tonne steel producer in the next seven years. "We will grow faster than any other steel producer in ...
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Voltas' cooling unit may contribute more
AFTER re-introducing its products in the domestic consumer durables market, Voltas Ltd's Cooling Appliances Division (CAD) is expected to contribute 35 per cent to the company's total turnover during the current fiscal. The CAD closed the last ...
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Dishman Pharma looking to shake off Solvay-centric image
DISHMAN Pharmaceuticals and Chemicals Ltd, the Ahmedabad-based bulk-drugs company, is looking to emerge from the perception of being too "Solvay-centric" or dependant on its long-term contract with Solvay Pharmaceuticals b.v. of Netherlands. ...
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PEOPLE
New VPs for Arvind Brands
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