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Thursday, July 01, 2004

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CORPORATE

ANNOUNCEMENTS
Indian Hotels' serviced apartments to open soon
INDIAN Hotels Company Ltd is to open its first serviced luxury apartments in Mumbai this September, the company's Managing Director, Mr Raymond Bickson, said on Wednesday. The 80 luxury apartments, called `Taj Wellington Mews,' is to open at ... More

KEC Intl bags Rs 365-cr order in Abu Dhabi
KEC International Ltd (KEC) has been awarded a new order worth Rs 365 crore in Abu Dhabi, by the Abu Dhabi Water and Electricity Authority (ADWEA). This is one of the largest orders awarded by ADWEA. The order includes supply and installation ... More

Granules India extends fiscal by 3 months
GRANULES India Ltd (GIL), a city-based pharmaceutical company specialising in pharmaceutical formulation intermediates in granulated form, has decided to extend its financial year 2003-04 by three more months till June 30. The company took a ... More

MECON completes multipurpose berth project at Goa port
MECON has successfully completed, on a turnkey basis, the detail design, engineering, construction, supervision and project management for two multipurpose berths - 5A and 6A - at the Mormugao port (Goa) for South West Port Ltd (formerly ... More

CORPORATE DISPUTES
Mallya, Chhabria close to ending legal battle
THE UB group Chairman, Mr Vijay Mallya, and the Jumbo group Chairperson, Ms Vidya Manohar Chhabria, are engaged in direct talks to settle the longest-running corporate rivalry in the Indian liquor industry that pertains to the acquisition of Shaw ... More

MERGERS & ACQUISITIONS
IndusInd Telecom to get 5.11 pc stake in Hutch-Essar entity
INDUSIND Telecom Network (ITNL), a subsidiary of Hinduja TMT Ltd, will be allotted 5.11 per cent stake in the consolidated Hutchison Essar entity, said a notice to the stock exchanges sent by HTMT on Tuesday. The Hinduja group is a joint ... More

CORPORATE GOVERNANCE
`Family-run businesses must document transactions for transparency'
FAMILY-RUN business houses should document all internal agreements to bring about transparency in operations. This would also help the companies in resolving intra-family feuds, said Mr V. Subbiah, past Chairman, CII National Council on Family ... More

NEW PROJECTS
Bell Ceramics to expand capacity at Baroda plant
BELL Ceramics Ltd plans to expand production capacity of its Dora plant near Baroda by another 7,000 sq. metres a day. At present, the plant produces 10,000 sq. metres of floor and wall tiles a day. It is likely to achieve 17,000-sq.-metre ... More

Indal hydel plant proposal gets clearances
INDIAN Aluminium Company Ltd (Indal) is reported to have completed all formalities to set up mini hydel power plants in Maharashtra. The proposed plants, with a combined generation capacity of about 4 MW, are meant for captive consumption at the ... More

ALLIANCES & JOINT VENTURES
MDFL pulls out of JV with Milma
MOTHER Dairy Foods Ltd (MDFL), a subsidiary of National Dairy Development Board (NDDB), on Wednesday called off its joint venture with the Kerala Cooperative Milk Marketing Federation (Milma), citing `continuing discordance amongst the milk ... More

RIGHTS ISSUE
Century Ply gets ready for BSE, NSE listing
THE city-based Century Plyboards (India) Ltd, a major player in the plywood sector, has applied for BSE and NSE listing after expanding its capital base through rights and bonus issues. The promoters of the company have reduced their holding ... More

SICK UNITS
Hind Latex to take over KSDP
THE Kerala Cabinet will consider a proposal by the Central public sector unit, Hindustan Latex Ltd to take over the ailing Kerala State Drugs and Pharmaceuticals Ltd (KSDP). The Industries Minister, Mr P.K. Kunhalikutty, said in the State ... More

OUTLOOK
Ladakh Foods plans jam, fruit sauce from Leh berry
WHAT can a little-known berry found in the icy heights of the Himalayas do for the fruit juice market in India? Plenty, if the plans of Ladakh Foods Ltd are anything to go by. With sales of the company's Leh Berry brand of fruit nectar growing ... More

Sundram Fasteners likely to ink pact with Deutz
SUNDRAM Fasteners is on the verge of signing up for a major order with Deutz of Germany. The company is likely to start supplying fasteners to the German engine manufacturer from August. The value of a full 12-month year of supplies is ... More

PERFORMANCE
New pricing plan revs up Maruti's Versa sales
A MASSIVE price reduction has rescued a slow-moving model from the largest car maker in India, Maruti Udyog from being an also-ran. Maruti Versa, the multi-utility vehicle, has seen its volumes grow nearly 41 per cent after the company launched ... More

SECL records 71-mt output
SOUTH Eastern Coalfields Ltd (SECL), a subsidiary of Coal India Ltd (CIL) has achieved the highest coal production of 71.01 million tonnes (mt) during the financial year 2003-04, up from 66.6 mt last year. The company's profits have also been ... More


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Top Stories
Strong euro impacts cost competitiveness — Cognizant to close Ireland facility


New pricing plan revs up Maruti's Versa sales

Indian sugar output may weigh on global market

Increased capital investment flows boost forex kitty

Current account surplus doubled last fiscal

Nation-wide network to link sales tax commissionerates

Looking back
Jun. 20-Jun. 26
Cipla stands by quality of AIDS drugs; to repeat test for WHO listing

Rs 400-cr computerisation plan on BOOT basis — DCA shortlists TCS, ICICI Info

HM offers 3-year warranty on Lancers

Parthiv Patel to don gloves for Reliance

Radico to buy entire Bacardi stake in Whytehall


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