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Friday, July 23, 2004

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ANNOUNCEMENTS
Hyundai set to launch Getz in August
THE much-awaited B+ segment model by Hyundai Motor India Ltd (HMIL) the `Getz' is slated to hit the market ahead of the festive season in the next few weeks. Initially, two variants of the vehicle are being launched, the `lean' entry level ... More

BHEL to set up solar power plants in Sunderbans
THE Electronics Division of Bharat Heavy Electricals Ltd (BHEL) has won a contract to set up five stand-alone solar power plants in the Islands of Sunderbans, West Bengal. The Rs 15-crore contract is a repeat order from the West Bengal ... More

Natco Pharma launches anti-cancer drug
NATCO Pharma Ltd has announced the launch of Chlorambucil in 2 mg and 5 mg tablets form. The drug, launched under the brand name Clokeran, is useful in the treatment of chronic lymphatic (lymphocytic) leukaemia as well as in malignant ... More

SRF chalks out plans for pharma chemicals biz — To set up R&D centre in Chennai
SRF Ltd, the Rs 843-crore industrial synthetics, fabrics and chemicals major, has chalked out major plans for its foray into the pharmaceutical chemicals business. Having already invested over Rs 23 crore in two manufacturing facilities at its ... More

Gujarat NRE signs pact with Chinese co for tech transfer
THE Gujarat NRE Coke Ltd (GNCL) has signed a technology transfer deal with SSIT, China, to equip its new plant at Dharwad in north Karnataka with stamp charged coke making machinery for additional 400,000 tpa capacity. The joint venture ... More

CORPORATE DISPUTES
`Birlas willing to consider out-of-court settlement'
THE Birlas have finally broken their silence and appear to have extended the olive branch by announcing that they are willing to go ahead with an out-of-court settlement with Mr R.S. Lodha. A formal announcement to this effect was made by Mr ... More

AUDITING
ICAI refers auditor rotation issue to internal panel
AUDIT firms and their partners can now breathe easy on the controversial issue of auditor rotation. The Institute of Chartered Accountants of India (ICAI) is taking a re-think on the issue. Superseding the institute's stance taken on this ... More

HUMAN RESOURCES
Former Glaxo official launches HR consultancy firm
FORMER Director of GlaxoSmithKline has started a consultancy in human resource management with an emphasis on training in `managing transition from traditional management by controls to management by values'. Mr N. Ahemdali, who after a long ... More

MERGERS & ACQUISITIONS
Tata Steel scouting for acquisitions in Russia, E. Europe
TATA Steel is looking to acquire steel plants in Russia and East Europe ``as and when they become available,'' Mr Ratan Tata, Chairman, said at the company's AGM here on Thursday. It is also studying similar forays on the mining front. While ... More

NEW PROJECTS
Hind Paper plans to double HNL capacity
THE State-owned Hindustan Paper Corporation (HPC) has finalised an ambitious plan for its wholly owned subsidiary, Hindustan Newsprint Ltd (HNL), to double its newsprint manufacturing capacity to 200,000 tonnes per annum. The capacity will be ... More

REGULATORY BODIES & RULINGS
Top Line Shoes: Ministry seeks details from RoC
THE little master Sunil Gavaskar could be pushed on the back-foot this time. The Ministry of Company Affairs is closely monitoring the case of the vanishing footwear company Top Line Shoes Ltd, where Gavaskar's name figures in a police complaint ... More

ALLIANCES & JOINT VENTURES
Tata Steel ties up with SAP India
TATA Steel has announced a partnership with SAP India whereby the steel major will offer business software solutions for the metal industry in the country. Under the partnership, Tata Steel will offer small and medium sized businesses in ... More

KRBL ties up with agro firms for inputs to farmers
KRBL Ltd, a rice exporting firm, has set up an `Agri Services Division' under Farm Management Services (FMS) comprising agriculture experts such as entomologists, pathologists, soil scientists and agri-extension workers to strengthen its ... More

Tata Steel to pick 50% stake in Dhamra port
TATA Steel is close to picking up a 50 per cent stake and team up with Larsen & Toubro for building and operating the Rs 1,500-crore Dhamra Port in Orissa. The minor port will now be developed as a 50-50 joint venture between Tata Steel and ... More

OUTLOOK
Godrej Consumer studying opportunities in SAARC region
GODREJ Consumer Products Ltd (GCPL) has said it is studying opportunities offered by the various bilateral treaties proposed to be entered into by the Government. The company does perceive a good opportunity in the SAARC region, GCPL's ... More

TAFE aims for export push
TRACTORS and Farm Equipment Ltd (TAFE), a part of the Amalgamations Group, is aiming for a substantial jump in its exports. Last year, it exported 1,600 tractors to various countries, including the US, Europe and parts of Africa. According to ... More

PERFORMANCE
MANAGING INPUT COSTS
Marico Industries: Betting on brand equity
MATERIAL costs are likely to have posed a big challenge for Marico Industries in 2003-04. During the year, prices of key inputs for hair oils- ruled 30 per cent higher compared to the previous year. Sunflower and safflower oil, which go into ... More

Dabur India: Using technology to good effect
When input costs rise, you usually expect this to show up in the profit margin. But companies now have many sophisticated tools in their armoury to manage their material costs. Here are two of them. More

PEOPLE
Coke official visits India
COCA-COLA said today that its President - Bottling Investments, Mr Iral Finan, visited India recently. "He was here to give strategic inputs on how to drive the affordability strategy in the most efficient and cost effective manner and to ... More

TRENDS
Corporates get out of g-secs; move into bank deposits
ANTICIPATING a hardening of interest rates, corporates have begun unwinding their Government securities holdings in a bid to avert losses. Sources said most of these corporates had bought into these securities last year as part of their ... More


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Top Stories
Tax modifications spell positive for MFs


New VRS for insurance staff likely

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Looking back
Jul. 11-Jul. 17
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