CORPORATE
ANNOUNCEMENTS
BPCL studying scope of leasing satellite for DTH
BHARAT Petroleum Corporation Ltd is studying the feasibility of leasing out satellite time to television companies for relaying television signals through DTH (direct-to-home) broadcasting services in India. "Someone had sent us a proposal ...
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ONGC to hire 12 more survey vessels
ONGC has lined up the `biggest-ever,' seismic survey exercise for the exploration of oil and hydrocarbons in the country in this fiscal. A prerequisite for carrying out the drilling operations, the survey in all probability will cross the ...
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Robert Bosch to make India hub for diesel distribution pumps
Bosch would consider making anti-lock braking systems in India if there was a demand for more than 5,00,000 units locally.
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Parry Agro drops rights issue
CHENNAI: Parry Agro has informed the Bombay Stock Exchange that it has decided not to proceed with the rights issue. In February, the company had informed the exchange that its board approved a rights issue of one share for every six ...
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Toll-free number for hotel info
THIRUVANANTHAPURAM: Sarovar Park Plaza Hotels and Resorts has introduced a national toll-free number, according to a company press release. The new facility will provide customers information on all hotels operated by the company and also ...
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NCCL bags Rs 138-cr orders
HYDERABAD: Nagarjuna Construction Company Ltd (NCCL) has bagged three orders worth Rs 138 crore, including an order from Singareni Collieries Company Ltd for the construction of 1,050 residential units valued at Rs 45.52 crore. The other ...
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OVERSEAS BORROWINGS
Wockhardt plans to raise $100 million through FCCB issue
WOCKHARDT Ltd will be going in for a $100 m foreign currency convertible bond (FCCB) issue with a greenshoe option of $10 million. However, this is subject to the final approval of the shareholders, said a company press release. Wockhardt ...
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COURTS/LEGAL ISSUES
BCCI to cancel tender process for telecast rights — ESPN-Star withdraws case, Zee may approach SC
THE Board of Control for Cricket in India (BCCI) today told the Bombay High Court that it is cancelling the tender process for the telecast of cricket matches to be played in India between October 2004 and September 2008. Following this ...
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ACCOUNTANCY
Govt plans to simplify cost accounting record rules
The consolidation of rules may not really cut down on the multiplicity of work as material records need to be maintained for each item.
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CAs' meet in Thiruvananthapuram
THIRUVANANTHAPURAM: The Institute of Chartered Accountants of India (ICAI) and the Institute of Chartered Accountants of Sri Lanka (ICASL) are jointly organising an Intentional Continuing Professional Education Conference (CPEC) at Kovalam ...
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MERGERS & ACQUISITIONS
Associated Breweries: UB to shell out Rs 15 cr more for acquisition
THE UB group may cough up nearly Rs 15 crore more for completing the acquisition of the Mumbai-based Associated Breweries & Distilleries Ltd following deferred payment for the second tranche of share purchase. UB Holdings Ltd, which acquired ...
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NEW PROJECTS
Ashok Leyland plans capacity expansion
MR Gopichand Hinduja and Mr Ashok Hinduja of the Hinduja group called on the Tamil Nadu Chief Minister, Ms J. Jayalalithaa, at her residence here on Tuesday. They are believed to have briefed her about the group's plans in the State. The ...
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KSE to set up more ice-cream production units
THE Irinjalakuda-based KSE Ltd, which introduced Vesta brand ice-cream, is planning to set up more ice-cream production units in the State in the coming years. The company has proposed to set up an ice-cream production unit in Kottayam by next ...
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RIGHTS ISSUE
Balrampur Chini rights issue
KOLKATA: The rights issue of Balrampur Chini Mills Ltd, which closed on September 18, has been oversubscribed, according to a company official. The rights issue, which opened on August 18, offered 22.75 lakh shares of Rs 10 face value ...
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SICK UNITS
Kesoram Textile Mills referred to BIFR
According to Mr N.G. Khaitan as the labour problem could not be resolved, the plant and machinery of the mill were rendered almost junk.
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OUTLOOK
Valvoline Cummins targets at Rs 250-cr revenue
Volvo and Ashok Leyland have accorded original equipment approvals.
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Finolex Ind bullish on AP market prospects
FINOLEX Industries Ltd (FIL), the Rs 1,011-crore branded PVC pipes manufacturer of the Finolex group, has chalked out plans for the fast growing Andhra Pradesh market, its President, Mr Vivek Khandekar, told newspersons here. Taking a cue from ...
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PEOPLE
A.K. Puri selected CMD of BHEL
MR A.K. Puri, currently on the board of Bharat Heavy Electricals Ltd (BHEL) as Director (Power), has been selected to take over as Chairman and Managing Director of the public sector power equipment major. BHEL, virtually the only bright star ...
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