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Tuesday, June 29, 2004

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ANNOUNCEMENTS
ONGC to intensify drilling in AP
OIL and Natural Gas Corporation (ONGC) has drawn up plans to intensify its exploration work in Andhra Pradesh by planning to move a third major rig here and is set to locate the first intelligent drilling facility and another integrated ... More

Voltas cooling range launched in UAE
THE Voltas cooling solutions range has been introduced in the UAE in a bid to tap a niche market for such products in the wake of a big boom in construction activity in the country. The UAE-based Al Ghandi ... More

ACCOUNTING STANDARDS
ICAI guidance soon on employee share-based payments
CORPORATE India may soon have some guidance on accounting for employee share-based payments that are administered through trusts. The Institute of Chartered Accountants of India (ICAI) is set to release a guidance note on `Accounting for ... More

COMPANY LAW
Govt to create awareness about competition panel
KEEN to resolve all the issues concerning the Competition Act, 2002, for smooth implementation of the Competition Law, the Government proposes to take up the task of `competition advocacy.' This is aimed at generating increased awareness of ... More

RESTRUCTURING
Eveready to demerge tea, battery businesses — Separate unit planned for bulk tea
EVEREADY Industries India Ltd has agreed to demerge its bulk tea and battery businesses and recreate a separate outfit — McLeod Russel India Ltd — for tea operations only. This was decided by the board at its meeting here on ... More

MERGERS & ACQUISITIONS
M&A activity has slackened: KPMG
WHILE the M&A (merger and acquisitions) activity during the first half of 2004 showed growth in the Asia- Pacific region, the Indian market witnessed reduced activity. Significantly, a large number of transactions in India have shadowed global . More

ALLIANCES & JOINT VENTURES
HAL, Navy sign pact for Sea King overhaul service
HINDUSTAN Aeronautics Ltd (HAL) and the Indian Navy on Monday signed an MoU that will enable HAL to shortly get into the business of overhaul and repair of Sea King naval helicopter transmission system components. The Navy is also financing a ... More

INTERVIEW
Tonnage tax delay may see GE Shipping flag out vessels
THE board of Great Eastern Shipping Ltd, the country's largest fleet owner in the private sector, on Friday took an in-principle decision to flag out some of its vessels if the long-proposed tonnage tax does not come through. The decision follows ... More

DIVERSIFICATION
Whirlpool India shifts focus to AC, microwave segments
HAVING suffered a severe pressure on margins due to multiple factors in the last accounting year that lead to a net loss of around Rs 34 crore, Whirlpool of India Ltd, the Rs 1,558-crore home appliances major and market leader in the domestic ... More

STANDARDS & BENCHMARKS

  • Tata Steel mine gets US certification

    SICK UNITS
    BIFR hearing on Autocast today
    THE State-owned Autocast Ltd (AKL) in Alapuzha district is likely to be closed if the State Government, the promoter of the company, fails to present a viable rehabilitation proposal to the Board for Industrial and Financial Reconstruction (BIFR) ... More

    OUTLOOK
    Alstom eyes India as hub for global operations
    ALSTOM, the energy and transport infrastructure major, is strategising to make India an important hub not only to address the country's market but also for its own global operations. In keeping with this, a 10-member Alstom delegation ... More

    Kanoria Chemicals focuses on exports
    KANORIA Chemicals & Industries Ltd (KCIL) is planning to expand its export base by exploring new markets and getting into long-term confidence building measures with the clients. For this, the company is focussing on Europe and ... More

    TRENDS
    Corporates prefer plain cover for terror risks
    HERE is a reason for equity investors to be concerned. Corporate India is not fully covered against terrorism related risks. In fact, most corporates obsessed with bottomlines preferred plain vanilla covers. Only public sector companies have ... More


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