CORPORATE
MODERNISATION
AP Paper Mills signs loan agreement with IFC
ANDHRA Pradesh Paper Mills Ltd (APPML) has informed the bourses on Wednesday that it has signed a loan agreement on Tuesday with International Finance Corporation of USA (IFC) in connection with foreign currency loan of $ 35 million sanctioned by ...
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ANNOUNCEMENTS
Capacity constraint delays Tata Motors' Marina launch
Tata Motors' Marina, the station wagon sibling of the Indigo, which has been ready and waiting in the wings to roll, will have to wait with the company grappling with a capacity constraint that has put the brakes on any new launches till it is ...
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BHEL unit bags Rs 80-cr Omani order
BHEL Ramachandrapuram has bagged a Rs 80-crore order from the Petroleum Development Corporation (PDO), Lekhwair, Oman for supply of the latest centrifugal gas compressor. With this order, which is to be executed in 15 months, the public sector ...
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Kinetic to supply auto parts to other cos
KINETIC Engineering has kick started its plans to supply auto components to other manufacturers. The General Manager (Marketing) of Kinetic Engineering, Mr Ajinkya Firodia, told newspersons that it recently bagged an order from auto component ...
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Tatas to expand power systems division
TATA Power Company has planned a five-fold expansion of its power systems division over the next three years. The company hopes to increase the division's turnover to Rs 500 crore by 2006-07. Tata Power had acquired the power systems division, ...
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ACCOUNTING STANDARDS
ICAI clarifies on norms for consolidated financial statements
THE Institute of Chartered Accountants of India (ICAI) has clarified that unrealised profits and losses on transactions between a parent and its subsidiaries entered during accounting periods commencing on or before March 31, 2001 need not be ...
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PREFERENTIAL ALLOTMENTS
Nagarjuna Fert to consider issue of preference shares
NAGARJUNA Fertilisers & Chemicals Ltd has informed the bourses that a meeting of its board of directors would be held on July 24, to consider the issue of 37.20 lakh, 0.01% Coupon Optionally Cumulative Convertible Redeemable Preference Shares of
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COURTS/LEGAL ISSUES
A will in the present with baggage from the past
CONFUSION in Kolkata is about Priyamvada's will and Lodha's luck, even as Birlas look blank. "Where there's a will there's a way," they say, but here's a will that's beating its way to courtroom battles and newspaper ...
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MERGERS & ACQUISITIONS
TCS to sell stake in BPO venture to HDFC
TATA Consultancy Services has reached an agreement with HDFC to sell its stake in the BPO joint venture - Intelenet Global Service Ltd (IGSL) - to HDFC for a consideration of Rs 161 crore. The decision is in line with TCS's strategy to ...
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LG Electronics to buy IL&FS stake in LG Soft India
KOREAN electronics major LG Electronics is buying out a part of the stake in LG Soft India Private Ltd. Currently, a 25 per cent stake in the joint venture software development company is held by IL&FS Trust Company Ltd. Initially, LG plans ...
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NEW PROJECTS
Eagle group to invest Rs 100 cr in new diary making facility
THE Eagle group, leading players in printing and stationery products, is to invest Rs 100 crore in a new diary manufacturing facility to tap the export market, according to Mr Prathapsingh, Eagle Press's proprietor. Expected to start ...
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BOC India plans 190-tpd gas plant in Hyderabad
BOC India Ltd proposes to set up a tonnage merchant plant at Hyderabad. This will be the sixth of its kind in the BOC family and the first in South India. Talking to newspersons at the end of the annual general meeting here on Wednesday, the ...
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ALLIANCES & JOINT VENTURES
UDV all set to exit joint venture with UB
GUINNESS UDV is expected to exit from United Distillers India Pvt Ltd, its manufacturing joint venture with the UB group, and may shift its entire production to contract-bottling units (CBUs). The global drinks major and UB Holdings Ltd hold 50 ...
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PERFORMANCE
Ponni Sugars trying new sources of raw material
PONNI Sugars (Erode) Ltd is testing the waters for additional sources of raw material for its sugar mill to produce sugar and ethanol. Addressing the annual general meeting here on Wednesday, its Chairman, Mr N. Gopalaratnam, said that it would ...
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Kerosene, LPG sale burden — BPCL, IBP may slip into red in Q1
BHARAT Petroleum Corporation Ltd (BPCL) and IBP Ltd are set to slip into the red in the first quarter of the current fiscal 2004-05 owing to the burden imposed by sale of LPG and kerosene at below cost price on the tacit direction of the ...
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