CORPORATE
ANNOUNCEMENTS
Valecha Engg bags Rs 90-cr NHAI order
VALECHA Engineering Ltd, which is engaged in construction of high-end infrastructure and engineering projects, has bagged a major Rs 90-crore contract as part of the Golden Quadrilateral project from the National Highway Authority of India ...
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IOC draws up aggressive sales strategy
INDIAN Oil Corporation (IOC)) has drawn up an aggressive marketing plan to face the challenge posed by private sectors in the petro-retailing sector. IOC will be shortly launching branded petrol stations and changing the visual identity of the ...
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Jay Shree Tea declares lockout at two estates
THE management of Jay Shree Tea & Industries Ltd, a B.K. Birla group company, has declared a lockout at its Singbuli and Tingling tea estates in Darjeeling. According to Mr R.K. Ganeriwala, President of Jay Shree Tea, the company was forced to ..
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Shasun to stick to urgent export orders due to port strike
SHASUN Chemicals & Drugs has been restricted to meeting just urgent orders on account of the ongoing workers strike at Chennai Container Terminal in the Chennai port. The Rs 277-crore Shasun brings its export products (bulk drugs) from its ...
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Jain Irrigation eyes Africa for projects
JAIN Irrigation Systems Ltd (JISL) has discovered a huge potential in setting up irrigation projects abroad and is looking at opportunities in the African continent. JISL is currently in talks with an African country to make a bid for an ...
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CORPORATE DISPUTES
MERC ruling — Tata Power asked to refund Rs 322 cr to Reliance Energy
THE Maharashtra Electricity Regulatory Commission on Tuesday ruled that Reliance Energy Ltd need not bear in equal proportion with Tata Power, standby charges of Rs 33 crore payable to the MSEB every month. The MERC has ruled that for the ...
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OVERSEAS BORROWINGS
Cos raise $1,756 m in April via ECB route
"The borrowings during the month were high since interest rates were attractively low and there were signs of interest rates rising in the US. "
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AWARDS & HONOURS
Kerala PCB award for Hind Lever
THIRUVANANTHAPURAM: Hindustan Lever, Ernakulam, has won the State Pollution Control Award, 2004, while Kochi Refineries won the special award for consistent effort and performance in the upkeep of environment. Apollo Tyres, Perambra, ...
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IPR
SRF gets US patent for difluoromethane
THE industrial synthetics and refrigerant gases major SRF Ltd has been granted a process patent by the US Patent and Trademark Office for production of difluoromethane. Difluoromethane is an ozone-friendly refrigerant to be used as a component ...
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MERGERS & ACQUISITIONS
Hind Lever Chem, Tata Chem merge
THE merger of Hind Lever Chemicals Ltd with Tata Chemicals Ltd came into effect on Tuesday. "Consequent to the orders of the High Court of Judicature, Mumbai, and the High Court of Punjab & Haryana, sanctioning the Scheme of Amalgamation of ...
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Jubilant Organosys acquires two European drug cos
JUBILANT Organosys Ltd (JOL) has acquired an 80 per cent stake in two Belgium-based pharmaceutical companies - Pharmaceutical Services Incorporated NV and PSI Supply NV - for euro 13.5 million (approximately Rs 75 crore). The acquisition ...
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NEW PROJECTS
Arvind plans Rs 150-cr push to garment export
THE Sanjay Lalbhai-controlled Arvind Mills is pumping in Rs 150 crore to boost its garment manufacturing business as the quota system unravels from January next year. The company has commissioned a new shirt manufacturing plant and is in the ...
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Satnam Overseas plans rice mill, processing unit in UK
SATNAM Overseas Ltd (SOL), a leading basmati rice exporter, plans to invest about $10 million during current fiscal, which includes setting up of a rice mill and processing unit in the UK and the entry into the ready-to-eat food (RTF) products. ...
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ALLIANCES & JOINT VENTURES
IICT set to attract research projects from MNCs
THE Indian Institute of Chemical Technology (IICT) here is all set to stage a comeback into the big league of attracting collaborative contract research projects from major drug and agrochemical multinational corporations. Its list of firm and ...
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FLAG signs dual landing deal with Omantel
RELIANCE Infocomm-owned FLAG Telecom, international wholesale network and communications services provider, has signed a dual landing station agreement with Omantel (the national telecom operator of Oman) for its upcoming FALCON cable system.The ...
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For supply and marketing in Canada — Orchid extends deal with Apotex
ORCHID Chemicals & Pharmaceuticals Ltd announced on Tuesday that it has extended the agreement with Apotex Inc for an exclusive supply and marketing arrangement in the Canadian market. Orchid had tied up with Apotex for the distribution of its ..
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OUTLOOK
KEC International sees Rs 800-cr turnover
KEC International Ltd (KIL), a RPG Group company involved in manufacturing and erection of transmission lines and towers, is likely to return to the black in 2003-04, after having made losses during the last four years. Sources told Business ...
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Super Spinning cottons on to farmers directly
THE city-based Super Spinning Mills Ltd is all out to woo farmers to take to cotton cultivation. The consuming unit's seriousness in encouraging farming groups to grow cotton is aimed at sourcing `clean' cotton from the domestic market, ...
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Himalaya expects 30% growth post-expansion
"We expect a growth of 25-30 per cent per annum on the enlarged business volumes following the expansion project."
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PERFORMANCE
Bajaj Auto sales down 7.8 pc
BAJAJ Auto Ltd (BAL) on Tuesday reported a 7.8 per cent decline in total sales of two and three-wheelers for May 2004 to 1,17,200 units as against the previous corresponding 1,27,156 units. Two-wheeler sales fell by 8.8 per cent to 1,01,022 ...
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TVS Motor sales down in May
TVS Motor's two-wheeler sales in May were 80,895 units against 96,203 units achieved during the same period last year, down by 15.91 per cent because of a lacklustre performance in the motorcycle market. Last month, the company sold 43,180 ...
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Maruti sales up 13 pc in May
MARUTI Udyog Ltd saw its sales rise by 13 per cent in May to 44,212 units (including 6,171 units of exports), up from 39,186 units in the same month last year. Sales of the company's bread-and-butter model, Maruti 800 however fell by awhopping ...
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Hero Honda sales rise 30% in May
TWO wheeler manufacturer, Hero Honda recorded its highest ever sales in a month selling 2,12,177 units in May 2004, thus registering a growth of 30 per cent over May 2003 (1,63,582 units). During the last eight months the company has sold in ...
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PEOPLE
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