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Tuesday, July 13, 2004

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ANNOUNCEMENTS
VSP to invest Rs 1,000 cr in iron ore, coal mining
VISAKHAPATNAM Steel Plant (VSP), belonging to Rashtriya Ispat Nigam Ltd (RINL), has earmarked Rs 1,000 crore of investments for iron ore and coal mining. The company, which has become a zero-debt organisation since last year, is also talking ... More

Allied Domecq drops IMFL plans; to focus on international portfolio
THE world's second largest spirits company, Allied Domecq, has taken its focus off the Indian Made Foreign Liquor (IMFL) sector to work on building its international brands in the country. Allied Domecq is the third global spirits major to ... More

Honda cars to cost more
NEW DELHI: Honda Siel Cars India Ltd has revised prices for its new City and Accord models, following the levy of 2 per cent education cess on excise and Customs duties as per the Union Budget. While the prices of all models of the City ... More

Hindustan Bio gets nod for importing anaemia drug
HINDUSTAN Bio Sciences Ltd (HBSL) has announced that it has obtained approvals from the Genetic Engineering Approval Committee (GEAC) of the Government of India for importing and marketing recombinant human erythropoietin - bioengineered ... More

Karvy to be HLL's registrar, transfer agent
HINDUSTAN Lever Ltd (HLL) said on Monday that Karvy Computershare Pvt Ltd will take over as the company's registrar and transfer agent from July 16. Till January 2005, HLL's Investor Services Department will handle work related to the bonus ... More

NEW PROJECTS
MECON made consultant for Rashtriya Ispat project
RASHTRIYA Ispat Nigam Ltd (RINL) has appointed the Ranchi-based MECON Ltd as consultant for the installation of Rs 300-crore coke oven battery at its Visakhapatnam Steel Plant. This is considered a major investment in the area of coke making ... More

SPS Sponge plans Rs 380-cr plant in Orissa
SPS Sponge Iron Ltd, a SPS group company, will soon be renamed SPS Steel & Power Ltd. An application in this regard has already been made to the Registrar of Companies. The company is also setting up a sponge iron and steel making facility at ... More

INTERVIEW
`Export and retail plans in the pipeline'
WITH the implementation of some major modernisation and capacity expansion programmes, at a cost of around Rs 3,000 crore, Kochi Refineries Ltd plans to make inroads into the retail and export markets as well. Mr Cherian N. Punnoose, ... More

SICK UNITS
Keltec turns around
THE State-owned Kerala Hitech Industries Ltd (Keltec), engaged in the manufacture of sophisticated hardware requirements of aerospace and defence sectors, has turned around after being sick since inception. During 2003-04, the company made a ... More

OUTLOOK
Tata Tea to boost global presence — Focus to remain on branded business
TATA Tea said on Monday it plans to increase its global presence through acquisitions in "right geographies" and also by further developing its product portfolio. The company's focus would clearly be on its branded business, that accounted for ... More

PERFORMANCE
Maruti's used car, insurance businesses see robust growth
IT is not only sales of passenger vehicles that are rolling in the moolah for automobile major Maruti Udyog Ltd. The company's other businesses such as the True Value pre-owned cars business and even car insurance have been seeing a triple digit ... More

PEOPLE
V.K. Magapu joins L&T board as whole-time director
Mr Vijay Kumar Magapu, Chief Executive Officer of Larsen & Toubro Infotech Ltd, the information technology business of L&T, has been appointed whole-time director on the board of L&T. In addition to leading L&T Infotech, Mr Magapu is More


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