ANNOUNCEMENTS
Gillette takes a swipe at fakes
GILLETTE India Ltd (GIL), along with the Weights and Measures Department, Noida Legal Metrology, raided marketers of grey Gillette products that were being sold without proper requisite packaging declarations. The raids were conducted by Mr ... More

Bajaj Hindusthan begins production at UP plant
BAJAJ Hindusthan Ltd (BHL) on Friday commenced commercial production at the Greenfield sugar plant at Kinauni near Meerut in Uttar Pradesh. With a production capacity of 7,000 tonnes sugarcane crushed per day, it is the largest refined sugar ... More

Corus plans investment in flat products in India
THE $12-billion European steel giant Corus will formalise a short and medium term strategy for investment in flat products in India. The 19 million-tonne steelmaker has just come out of the red and is now considering investments for future ... More

INVESTMENTS
When companies can sweat it out...
... do we need to reduce corporate tax, asks K. Parthasarathi More

COURTS/LEGAL ISSUES
Morarjee Goculdas obtains HC nod to distribute MBL shares
MORARJEE Goculdas Spinning & Weaving Company Ltd has informed the BSE that the Scheme of Arrangement between the company and its equity shareholders for distribution free of cost by the company to its equity shareholders, the equity shares of ... More

ACCOUNTANCY
`CAs ready to tackle global competition'
THE Institute of Chartered Accountants of India (ICAI) on Friday conveyed to the Government that its members are ready for competition, setting to rest all doubts about opening up the domestic market for foreign practitioners under the General ... More

NON-PERFORMING ASSETS
XLRI proposes EPFO revamp
XLRI Jamshedpur, mandated by the Employees' Provident Fund Organisation (EPFO) to suggest reform measures, has proposed sweeping changes in the organisation's structure. The B-School, which has already sent in its report to the PF authority, ... More

MERGERS & ACQUISITIONS
HC clears Matrix Labs merger proposal
MATRIX Laboratories Ltd (MLL), the city-based pharmaceutical major, has informed the stock exchanges on Friday that the Andhra Pradesh High Court has sanctioned the scheme of arrangement for amalgamation amongst Vera Laboratories Ltd, Fine Drugs ... More

United Phosphorus' US arm acquires AG Value for $36 m
UNITED Phosphorus Ltd has informed BSE that United Phosphorus Inc, a subsidiary of the company in US, has acquired 100 per cent shares of AG Value Inc, at a consideration of $35.75 million (around Rs 161 crore). This company is a supplier and ... More

Henkel Spic board to consider merger
CHENNAI: Henkel Spic India Ltd has informed the Bombay Stock Exchange that a proposal to of merge itself with Henkel India, formerly known as Calcutta Chemical Company Ltd, will be considered at a meeting of the board of directors on ... More

NEW PROJECTS
Plus Paper to set up facility in HP
PAPER cups major Plus Paper Foodpac Ltd (PPFL) has plans to set up its second manufacturing facility at Baddi in Himachal Pradesh. The company's existing plant at Navi Mumbai in Maharashtra has an annual installed capacity of 378 million cups ... More

REGULATORY BODIES & RULINGS
Ministry chalks out measures to safeguard investors
PRIORITISING investor protection in the backdrop of corporate frauds and failures worldwide, the Ministry of Company Affairs has chalked out safeguard measures to screen companies from cheating investors. Tightening the legal noose around such ... More

INTERVIEW
RCF hopes to do better in second-half
THE Rs 2,300-crore Rashtriya Chemicals and Fertilizers Ltd is considered one of the largest fertiliser and chemical companies in Asia with 20 operating plants producing 11 lakh tonnes of product at its Trombay unit and 5 large plants at Thal near ... More

SICK UNITS
Panel seeks time to submit report on IDPL revival
IT has been more than 12 years since Indian Drugs and Pharmaceuticals Ltd (IDPL) was declared sick. But the company will have to wait a little longer before an evaluation of its prospects for revival is completed. An expert committee going into ... More

BIFR orders winding up of Autokast
`Despite having allowed enough time and opportunity, it had not been possible to formulate any acceptable revival scheme.' More

OUTLOOK
Biocon to focus on insulin-based molecules — To launch own brand in 2 weeks
BIOCON India Ltd is planning to focus a major part of its research on insulin-based molecules and will be launching its own branded recombinant human insulin formulation Insugen within two weeks. "We will launch our insulin in the next two ... More

PERFORMANCE
HMT back in black on higher sales, revamp
HMT Ltd showed signs of recovery due to an overall improvement in its sales performance and the financial restructuring in the last one year. The company with a buoyant tractor demand in the country reported profit before tax of Rs 11 lakh ... More

Tata Motors' Oct sales up 31.3 pc
TATA Motors on Friday reported a 31.3 per cent rise in total vehicles sold in October, to 35,283 units as against the previous corresponding 26,862 units. The company sold 16,667 commercial vehicles during the period, an increase of 29.6 per ... More

Amway posts Rs 636-cr sales
NEW DELHI: Direct selling company Amway India has declared a Rs 636-crore sales turnover for 12 months ended September 2003-August 2004, a 10 per cent growth over the previous fiscal. The Managing Director and CEO, Mr William S. ... More