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Friday, June 18, 2004

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ANNOUNCEMENTS
Welspun Gujarat bags Rs 407-cr Libyan order
SUBMERGED arc-welded (SAW) pipes manufacturer, Welspun Gujarat Stahl Rohren, on Thursday said it has bagged an export order worth Rs 407 crore for supplying pipes to the El Sharara-Mellitah onshore pipeline in Libya. Export orders would be ... More

BILT plans to increase farm forestry coverage programme
BALLARPUR Industries Ltd (BILT) plans to increase its farm forestry programme coverage and provide technical know-how to the local farmers to improve productivity to meet its high raw material requirement. Raw material is the largest cost ... More

Bata assures shareholders on revamp plan — Batanagar model township work to begin by November
BATA India Ltd on Thursday gave an assurance to shareholders at the company's 71st annual general meeting that the proposed major business re-engineering-cum-financial restructuring plan involving a financial package would also benefit ... More

Paranjape Constructions to spread wings abroad
Athashree Hadapsar is a peaceful location away from Pune's crowded city environment, yet is at a fairly close proximity to the prominent locations such as the railway station, airport or major hospitals and nursing homes. More

BHEL bags RUVNL Dholpur power project
BHARAT Heavy Electricals Ltd (BHEL) has secured an order valued at Rs 501 crore from Rajasthan Utpadan Vidyut Nigam Ltd (RUVNL) to set up a 330 MW Combined Cycle Power (CCP) project at Dholpur. The order is for design, manufacture and supply of ... More

EIL plans to bid for Delhi, Mumbai airports
ENGINEERS India Ltd (EIL) is planning to enter the Bharti Enterprises-Changi Airport consortium for bidding to develop Delhi and Mumbai airports. "While Bharti and Changi will be equity investors in the project, two other partners will be ... More

Coal India to discontinue selling directly to non-core sectors
IN a bid to plug loopholes of the existing marketing policy for non-core sector consumers, Coal India Ltd (CIL) has decided to discontinue selling coal in future directly to non-core sector consumers even though they have linkages with mines ... More

AWARDS & HONOURS
NBFAL bags `Clean' award
HYDERABAD: Nava Bharat Ferro Alloys Ltd (NBFAL) has bagged the `Cleaner Production Award for Good Practices' award for the year 2003-04 from the Andhra Pradesh Pollution Control Board. In a press release , NBFAL said the award was given ... More

RESTRUCTURING
CESC plans to retire part of debt to bring down interest costs
CESC is planning to go in for some refinancing, retiring a part of its debts and thus bringing down interest costs, company sources said. They said that about Rs 300 crore of debt, out of a total borrowing of about Rs 2,800 crore was proposed ... More

MERGERS & ACQUISITIONS
Sterlite keen on acquiring residual Govt stake in Balco
STERLITE Industries (India) Ltd, which owns 51 per cent of Bharat Aluminium Company Ltd, is keen on buying the Centre's 49 per cent residual stake in the company. Sterlite has expressed its interest to the Government and expects a decision by ... More

Hewitt Associates merges with Exult
IN a bid to enhance its presence in the global HR outsourcing and consulting business, Hewitt Associates Inc has merged with Exult Inc, a global HR BPO (human resource business process outsourcing) company. Under the terms of the agreement, ... More

NEW PROJECTS
Kakinada to get bio-diesel plant
THE Hyderabad-based Naturol Bioenergy Ltd (NBL) proposes to set up a bio-diesel plant at Kakinada in a joint venture with Energea GmbH of Austria and Fe Clean Energy of USA. The proposed plant with an installed capacity of 300 tonnes per day ... More

IMG Academies unveils master plan for sports complex
IMG Academies Bharata (IMGB), a wholly owned subsidiary of IMG Academies East (IMGE), has come out with a master plan to develop a world-class athletic training, education, leisure and resort complex here at a cost of Rs 700 crore. IMGB has ... More

Ramco Industries to set up Rs 17-cr fibre cement sheet unit in Kutch — Net profit up 30 pc; to pay 75 pc final
RAMCO Industries Ltd plans to set up a fibre cement sheet plant in Kutch district, Gujarat at an investment of Rs 17 crore. This plant, with a capacity of 72,000 tonnes a year, will be commissioned before the end of this financial year, according ... More

ALLIANCES & JOINT VENTURES
Sneha Media ties up with TV9 for news content
SNEHA Media and Entertainment, the US-based company that runs Sneha TV, has tied up with TV9, a Telugu news channel, to use latter's news content for the benefit of huge expatriate Telugus in the US. Announcing this at a press conference here, ... More

BONUS ANNOUNCEMENTS
Jagsonpal Pharma announces 3:1 bonus
At the annual general meeting, the shareholders have approved the sub-division of the fully-paid equity share, with a face value of Rs 10 each, into two equity shares of Rs 5 each. As a result, three equity shares of Rs 5 each will be given as ... More

PERFORMANCE
Coking coal crunch shrinks SAIL sales
DESPITE the bullish trend, Steel Authority of India Ltd (SAIL) has suffered a sales drop of 10-15 per cent during the first quarter of 2004-05, due to coking coal shortage. SAIL has also reduced its annual sales target from 12 million tonnes to ... More


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