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Saturday, July 10, 2004

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ANNOUNCEMENTS
M&M may hike prices of commercial vehicles
MAHINDRA & Mahindra Ltd is likely to raise the prices of its commercial vehicles to cover the two per cent cess on taxes proposed by the Government in the Union Budget. ``We are likely to raise the prices of most of our vehicles. The rise could . More

Vedior to use Ma Foi for Asian expansion
VEDIOR NV, a global leader in head hunting, aims to use its Indian subsidiary, Ma Foi Management Consultants, to develop its business in South-East Asia and West Asia. Vedior's South-East Asian thrust has begun to take shape in the form of Ma ... More

Matrix Labs gets USFDA nod for anti-depressant
MATRIX Laboratories Ltd (MLL) has announced here on Friday that Vera Laboratories Ltd, which is currently being merged with the company, has received USFDA approval for Trazodone, an anti-depressant drug. In a press release here, the company ... More

ACC's market share up
THE market share of Associated Cement Companies (ACC) in the cement industry has moved up from 12.5 per cent in 2002-2003 to 13.1 per cent during the year ended March 31, 2004, said the company's Chairman, Mr Tarun Das, at its Annual General ... More

Hinduja-led consortia bag Iran projects
TWO consortia led by the Hinduja Group have bagged two projects in Iran worth $600 million. One of the projects, to develop and construct a port at Chabahar, will cost $100 million. The members of the consortium include Ashok Leyland Project ... More

Lovato opens centre in Chennai
STATE governments must encourage use of LPG as automobile fuel to reduce pollution, according to Mr P.R. Venkateswaran, consultant, Officine Lovato S.p.A. The Union Government and the other agencies that need to give the go-head have approved ... More

MERGERS & ACQUISITIONS
Honeywell Asia to buy out Tatas in Tata Honeywell
HONEYWELL Asia Pacific Inc, the subsidiary of Honeywell International, is set to acquire the 40.62 per cent stake held by the Tata group in Tata Honeywell for about Rs 125 crore. According to an agreement reached between the companies, ... More

SHAREHOLDER ACTIVISM
Some shareholders of ACC oppose resolution on ESOP
THERE was a minor scene at the AGM of Associated Cement Companies when some shareholders opposed to the resolution for issue of 15,000 lakh ESOPs to the company's employees, pressed for a poll on the issue and eventually got their way. That ... More

OUTLOOK
ITC Foods aims Rs 500-cr sales turnover in 3 years
ITC's foray into foods is poised for expansion. From being present across four broad product categories of staples, confectionary, biscuits and ready-to-eat products, the company says it is working on a host of additions including snacks, ... More

PERFORMANCE
Tata Motors sales up 33 pc in June
TATA Motors has reported total sales of 30,183 vehicles (including export) in June, a growth of 33.3 per cent over the previous corresponding 22,644 units. According to an official statement, domestic sales rose 35 per cent to 28,522 units ... More


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