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Wednesday, August 11, 2004

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CORPORATE

ANNOUNCEMENTS
Ford retires high-cost debt; Fusion launch likely in Nov
Mr Friedman said the company was cash flow positive and immediate growth would be funded through internal accruals. More

GAIL (India) keen to pick up equity stake in HPL
Clearing all doubts, GAIL (India) Ltd has announced that it is still eager to take up an equity stake in Haldia Petrochemicals Ltd (HPL) for which it is willing to invest whatever funds are required. At a press conference on Monday, Mr ... More

Appu Hotels plans budget chain
APPU Hotels Ltd, the company that owns Le Royal Meridien here, plans to enter the budget segment and set up three-star hotels in Tamil Nadu and Karnataka, according to Dr Palani G. Periasamy, Chairman, Le Meridien, Chennai. He told Business ... More

Blue Star (Hyderabad) bags Microsoft order
AIR-CONDITIONING major Blue Star Ltd has bagged a Rs 12-crore order from the Research and Development (R&D) facility of Microsoft in Hyderabad against stiff competition from national and international bidders. Blue Star will do the central ... More

Myanmar allows GAIL-OVL team to take part in exploration
THE Myanmar Government and Daewoo have agreed to allow participation of an Indian consortium in the exploration of the A3 exploration block, according to an official release. The consortium consists of GAIL (India) Ltd and ONGC Videsh Ltd ... More

Meghmani Organics listed on Singapore bourse
PLACING India on the trading map of the Singapore Exchange (SGX), Meghmani Organics Ltd on Tuesday began its business foray here as the first Indian company to do so. Although the firm has, in the words of an SGX official, made its bow here on ... More

OUTSOURCING
India Tyres to explore possibility under Dunlop brand
The management of India Tyres is waiting for a response from the dealers so that the company can open negotiation with the Chinese tyre makers. More

HUMAN RESOURCES
Ucal Fuel to treble engineering headcount; expand product range
UCAL Fuel's recent R&D venture has taken off well; the company intends to hire some 50 engineers, to add to the existing 27. About a dozen products are under various stages of evaluation. Some of them would find a place in the company's range .. More

NEW PROJECTS
GAIL plans Rs 800-crore coal gassification plant at Ranigunj — Shell to provide technology
GAIL (India) Ltd has firmed up plans to set up a Rs 800-crore coal gassification plant at Ranigunj-Dhanbad coal belt in a joint venture with Royal Dutch Shell. The project is the first of its kind in the country. Talking to Business ... More

ALLIANCES & JOINT VENTURES
Whisky major Inver House in deal with Vangal's firm
Thailand's Pacific Spirit controlled Inver House, the world's largest supplier of bulk scotch and among the top 10 distilleries, has entered into a definite agreement with Mason & Summers Alcobev Ltd, formerly Katra Liquor, a Bangalore-based ... More

Nandan Agro in pact with D1 Oils to enter bio-diesel industry
THE Hyderabad-based Nandan Agro Farms Pvt. Ltd. has entered into a strategic alliance with UK-based D1 Oils for entering the bio-diesel industry. The joint effort of D1 Oils and Nandan Agro is to develop large scale nurseries, producing high ... More

NPIL ties up with NII for research on inflammation drugs
NICHOLAS Piramal India Ltd (NPIL) said on Tuesday that it has entered into a research collaboration with the National Institute of Immunology (NII) in New Delhi. The collaboration is an integral part of NPIL's R&D programme to discover and ... More

DIVERSIFICATION
IOC set to commission alkyl benzene facility
THE stage may all be set for what could become another price war in the detergents segment as the Indian Oil Corporation (IOC) is ready to commission its 1,20,000 tpa linear alkyl benzene (LAB) plant by August 15. The LAB prices which had firmed ... More

BONUS ANNOUNCEMENTS
Kolar Bio to issue 2:1 bonus
MUMBAI: KOLAR Biotech Ltd, engaged in IT and bioinformatics-related services, has reported a net profit of Rs 6.27 crore for the first quarter of the current fiscal against Rs 1.88 crore in the corresponding previous period. During the ... More

SICK UNITS
TCC plea to convert loan into equity
THE State-owned Travancore Cochin Chemicals (TCC) Ltd at nearby Eloor, which has been struggling to get out of the red for the past several years, has requested the State Government to convert its loan liability into equity. Attributing the ... More

PERFORMANCE
Soaring crude prices — ONGC nets big gains
ONE man's meat is another man's poison. And this adage can well apply to the domestic oil industry. The recent spike in global oil prices has helped Oil and Natural Gas Corporation (ONGC) flourish and the public sector oil marketing companies ... More

Toyota sells 982 Corollas in July
BANGALORE: Toyota sold a total of 982 units of Corolla in July, around the same as last year while Qualis' sales dipped marginally because of a strike at Chennai port last month. A press statement from Toyota said the multi - purpose ... More

Durgapur Steel Plant Q1 profit at all-time high — SAIL to make Rs 271-cr fresh investments
DURGAPUR Steel Plant (DSP), one of the four integrated steel plants of Steel Authority of India Ltd (SAIL), has, in the first quarter of this fiscal, posted its highest net profit ever for any accounting period in its 44 year history. The unit ... More


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Top Stories
GAIL (India) keen to pick up equity stake in HPL


TRAI calls for telecom ombudsman

GTB scrip manipulation — SEBI probe to focus on old suspects

Plastic money boosts retail spend

GSPC strikes oil at Ahmedabad block — Value put at over Rs 1,000 cr

FM radio cos may be allowed to re-apply under new norms

Govt to set up single window body for GM crops

Looking back
Aug. 1-Aug. 7
Xerox Corp wants to make Indian venture 100 pc arm — Modis raise objections

Alto drives Maruti sales

Balrampur Chini open to buying sugar mills in UP

HPCL unveils VRS package; looks to shed 400 staff

Corporates sustain Q1 growth momentum

Asahi India plans expansion, to invest Rs 600 cr

Oil Ministry lukewarm to PSUs diversification — ONGC plans may be hit


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