CORPORATE
ANNOUNCEMENTS
K Sera Sera plans to raise Rs 100 cr — International film project on cards
K SERA Sera Productions Ltd, a listed entity, plans to raise roughly Rs 100 crore to scale up its film, television and content business over the next five years. It has appointed consultant Ernst & Young to look into the exercise of raising ...
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GE sells 60% stake in BPO arm for $500 m
IN a bid to focus on its core businesses, General Electric on Monday announced its decision to offload 60 per cent stake in its BPO operation — GE Capital International Services (GECIS) — to leading private investment firms General ...
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Petronet India to be sold by March
PETRONET India Ltd (PIL), the consortium of oil companies and financial institutions set up for laying product pipelines, will be sold by March 2005. The company's board of directors will meet later this month to discuss the sale process with ...
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Festival freebies from car cos
NEW DELHI: The festive season has prompted carmakers to offer discounts, freebies and limited edition offers. Market leader Maruti Udyog Ltd plans to give out freebies of up to Rs 28,900 on two of its car models this week. Customers would ...
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NCCL bags Rs 302-cr orders
HYDERABAD: Nagarjuna Construction Company Ltd (NCCL) has secured new orders worth Rs 302 crore. These orders include contracts received from Hindustan Aeronautics Ltd for construction of utility buildings at Koraput in Orissa and for construction ...
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JB Chem launches new product
MUMBAI: J.B. Chemicals & Pharmaceuticals Limited (JBCPL) has launched Magnilek, a diagnostic product used as a contrast media for MRI in the diagnosis of neurological diseases and cancer. The product has been developed by J.B. Chemical's ...
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COMPANY LAW
Conversion of MNC arm into public co — `Concept paper proposal needs to be modified'
THE proposals in the concept paper on company law that requires foreign body corporates operating through a private subsidiary company in India to convert into a `public company' and undergo a change in board composition has irked India Inc. ...
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HUMAN RESOURCES
How Deloitte tackled attrition among women
WHILE coping with mergers and a not-so-encouraging economy 16 years ago, Deloitte was faced with a problem: huge attrition rates among women, which threatened to pose a serious challenge. In a presentation on Deloitte's `Initiative for the ...
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RESTRUCTURING
Titan revamps Europe operations — To focus only on 4 markets, to exit from 8
TITAN Industries Ltd, the country's largest watchmaker, has completed restructuring its troubled European operations by exiting eight out of the 12 markets it entered in the early 90s. It will now focus on four key markets for the brand - ...
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MERGERS & ACQUISITIONS
Essilor to acquire Vijay Vision
ESSILOR, a global manufacturer of ophthalmic optical products, on Monday announced that it has acquired Vijay Vision, a processing lab based in Mumbai along with its distribution arm, Beauty Glass. The acquisition will provide Essilor access ...
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NEW PROJECTS
Excise sops lure pharma, FMCG firms to the hills
THE hills seem to be alive with business booming. Companies spanning pharmaceuticals, fast moving consumer goods (FMCG) and some other sectors have been lured by the hills and have begun to establish manufacturing facilities in far-flung Jammu ...
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Birla group plans to set up 30 ready-mix concrete plants
THE Aditya Birla group is planning to set up 30 ready-mix-concrete (RMC) cement plants in several locations across the country in the next two years and one of it would be in Kolkata. However, the group has not yet decided on which of its two ...
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REGULATORY BODIES & RULINGS
Call for clarity in definition of promoter
THE PHDCCI has called for harmony in the definition of `promoter' as defined in the concept paper for new company law and that under the SEBI Takeover Code. In a representation to the Ministry of Company Affairs, the PHDCCI has said promoter ...
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INTERVIEW
`We hope to achieve Rs 1,200 cr turnover this year'
IVRCL Infrastructures & Projects expanded its equity base six months ago and proposes to come out with a public issue early next year to infuse fresh capital. The company has orders on hand worth Rs 2,500 crore and has targeted to achieve a ...
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DIVERSIFICATION
Jessop to diversify into shipbuilding
POST disinvestments, Jessop & Co Ltd is planning it big. The erstwhile engineering giant, reduced to an ailing dwarf under the nationalised management, is now planning to unleash its core strength in fabrication to diversify into ship building ..
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SICK UNITS
Dabhol revival package likely by next month
A PACKAGE to revive the 2,184-MW Dabhol power project is likely by the end of this calendar year, according to Mr M. Damodaran, Chairman, IDBI Ltd, the lead lender to the project. Mr Damodaran told newspersons here that all the stakeholders ...
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OUTLOOK
Orchid Chem eyes $1-b turnover
HAVING successfully completed the major expansions taken up at an outlay of around Rs 450 crore recently, which ensured UDFDA-compliant facilities in place, the Chennai-based Orchid Chemicals & Pharmaceuticals Ltd has chalked out a detailed ...
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`Delayed resolution of Dabhol no impact on GE's plans for India'
GENERAL Electric today said that delayed resolution of Dabhol had not affected the company's investment plans in India and mooted that National Thermal Power Corporation (NTPC) could be given responsibility to operate the plant on an interim ...
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PEOPLE
Alan Sheppard to head Dr Reddy's Europe generics business
DR Reddy's Laboratories Ltd has announced that Mr Alan Sheppard has joined the company as Executive Vice-President and Head of Europe Generics, and Managing Director and Head of Dr Reddy's UK Ltd. In a press release here on Monday, Dr Reddy's ...
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