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Saturday, October 02, 2004

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CORPORATE

PREFERENTIAL ALLOTMENTS
Coromandel Cements' board meet on Oct 5
HYDERABAD: Coromandel Cements Ltd has informed stock exchanges that it proposes to hold the meeting of its board of directors on October 5 to allot 6,36,500 equity shares to the promoters on preferential basis. Earlier, the shareholders ... More

CORPORATE DISPUTES
Merck sues Dr Reddy's for patent violation
THE global pharmaceutical major Merck has sued Dr Reddy's Laboratories Ltd alleging patent infringement by the latter. In a press release here on Friday, Dr Reddy's said it had filed an Abbreviated New Drug Application (ANDA) with the US Food ... More

SC to hear Zee's plea on Tuesday
THE Supreme Court will hear on October 5 another application filed by Zee Telefilms challenging the move by the Board of Control for Cricket in India (BCCI) to award telecasting rights to Ten Sports and Sony network to telecast the first Test ... More

Cricket telecast: Prasar Bharati to move SC as `aggrieved party'
THE legal battle surrounding the awarding of telecast rights to Sony Entertainment Television for the forthcoming Australia tour of India is getting complicated with the Prasar Bharati CEO, Mr K.S. Sarma, saying that the national broadcaster ... More

OVERSEAS BORROWINGS
Corporates allowed to convert ECBs into equity
CORPORATES, whose activities are covered under the automatic route for FDI, would now be allowed to convert their external commercial borrowings (ECBs) into equity. Further, the foreign equity after the conversion of debt into equity should be ... More

ESOPS
SEBI to oversee issue of ESOP by listed cos
THE Securities and Exchange Board of India (SEBI) will now govern the issue of Employees Stock Option Scheme (ESOP) by a listed company in the knowledge-based sectors, the RBI said today. This issue of ESOP will be according to the SEBI ... More

AWARDS & HONOURS

  • ITC paper unit gets eco prize

    HUMAN RESOURCES
    Roots Ind thinks out of the `suggestion' box
    At a time when sophisticated technologies have replaced the human element in manufacturing activities, how many organisations would care to take a peek into that suggestion box of ideas put forth by their employees? Though a survey has not been ... More

    RESTRUCTURING
    Suryalakshmi Cotton to demerge yarn division
    THE board of directors of Suryalakshmi Cotton Mills Ltd (SCML) at its meeting held on Friday approved the proposal of de-merger of its yarn division after considering various restructuring options. The company informed the stock exchanges that ... More

    OUTLOOK
    Bajaj Electricals pins hopes on power transmission biz
    BAJAJ Electricals, one of India's major electrical appliances company, is betting big on power transmission. The company hopes it will see its earnings from its recently set up transmission business double to Rs 300 crore, from the present Rs ... More

    DVC mulls setting up gas-based power stations
    WITH emerging prospects of the availability of natural gas and coal bed methane (CBM) by 2006-7, Damodar Valley Corporation is considering setting up gas-based power stations during the Eleventh-Plan period. Talking to Business Line, ... More

    Polymer, naphtha duty cut unlikely to hit Reliance
    THE duty cut in polymers and naphtha is not likely to have any impact on the price line of Reliance Industries Ltd, the largest producer of polymers in the country. The reason being cited for this insulation from the duty cut is that it had ... More

    Polymer duty cut not to hit Haldia Petro IPO plans
    THE Union Government's decision to reduce import duties on polymer products will affect the profitability of Haldia Petrochemicals, despite a corresponding reduction in the import duty of naphtha. However, Haldia Petrochemicals is firm on its ... More

    PERFORMANCE
    Maruti Sept sales rise 27 pc
    NEW DELHI: Maruti Udyog, India's biggest carmaker, on Friday said its total sales rose by 27 per cent in September 2004. A total of 43,949 units were sold during the review month over 34,543 units sold in September 2003, a company ... More

    Hero Honda sales up 38 pc
    NEW DELHI: Two-wheeler major Hero Honda has recorded a 38 per cent growth in sales in September 2004 to 2,17,507 units over 1,57,583 units sold in the same month last year. This is the seventh time in the last 12 months that Hero Honda has ... More

    Bajaj Auto sales 15 pc higher
    MUMBAI: Bajaj Auto Ltd (BAL) on Friday reported a 15 per cent growth in total two-wheeler and three-wheeler sales for September, from the previous 1,42,023 units to 1,63,942 units. Motorcycle sales for the period rose by 32 per cent from ... More

    TVS Motor sales down in Sept
    CHENNAI: TVS Motor Company's total two-wheeler sales in September stood at 1,04,837 units compared to 105,989 units, during the same month last year. However, the total two-wheeler sales in September 2004 recorded a growth of 17 per ... More

    PEOPLE
    More Britannia executives quit
    DAIRY and bakery major Britannia Industries is witnessing an exodus from its senior management cadre even as Bangalore's corporate circles are abuzz with talk of a major restructuring exercise within the organisation in the near term. Informed ... More


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