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Wednesday, December 08, 2004

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CORPORATE

ACCIDENTS
The corporate road to an industrial disaster
WORDS cannot capture the magnitude of the disaster that struck Bhopal on that fateful night of December 2, 1984. One author describes it as `the Hiroshima of chemical industry.' A report of an International Medical ... More

ANNOUNCEMENTS
PSL bags Kazakh contract
NEW DELHI: PSL Ltd has bagged the order to design and set up a steel pipe mill in Kazakhstan, according to a company release. The order, valued at $9 million, is for designing, engineering, supplying, erecting and commissioning of a ... More

CORPORATE DISPUTES
`Mukesh was briefed on Reliance Energy plans in October'
RELIANCE Energy Ltd (REL) on Tuesday said it had made detailed presentations on its growth strategy and plans to the board of Reliance Industries, including the Chairman and Managing Director, Mr Mukesh Ambani, on October 20. The day-long ... More

BSNL moves ASCI against Airtel advertisement
AFTER taking on Reliance over the access deficit charge (ADC), State-owned telecom major Bharat Sanchar Nigam Ltd (BSNL) has now trained its gun on Airtel over the private operator's claim that it is the only mobile telecom service provider in ... More

RESTRUCTURING
Essar Oil board to discuss debt restructuring
ESSAR Oil Ltd on Tuesday informed the stock exchanges that its board of directors will meet on December 13, to consider a revised debt-restructuring package approved by lenders. The corporate debt restructuring team, led by ICICI Bank, which ... More

MERGERS & ACQUISITIONS
Ranbaxy in talks for German buy
AFTER acquiring the French company RPG (Aventis), Ranbaxy Laboratories is in talks to buy out a company in Germany. Dr Brian Tempest, CEO and Managing Director, Ranbaxy, was however not willing to give a time frame by when the acquisition ... More

Hindustan Diamond to pick up 26% stake in De Beers India
HINDUSTAN Diamond Company (HDC) has entered into a memorandum of understanding with De Beers India to pick up a 26 per cent stake in the latter by investing $3.75 million. HDC is a 50:50 joint venture between the Government of India and De ... More

InBev, S&N vie for UB stake — `Sale process not connected to bid for Shaw Wallace'
THE Belgium-based InBev (formerly Interbrew), the world's largest brewer by volume, and the UK's Scottish & Newcastle (S&N) are the two global brewing giants vying for a stake in United Breweries (UB) Ltd, the country's leading brewer. S& More

CORPORATE GOVERNANCE
`Being a globalised corporate more important than being MNC'
BEING a globalised corporate is more important than being a multinational. This view was aired by Mr N.R. Narayana Murthy, Chairman of the Board and Chief Mentor, Infosys Technologies while speaking at the India Economic Summit organised by the ... More

NEW PROJECTS
Turel opens competence centre in Bangalore
THE Turel group has opened a competence centre for trouser manufacturing in Bangalore. The Rs 87-crore garment machinery and total solutions major said the centre was the first in India and would support domestic manufacturers with information ... More

BSP to invest Rs 5,000 cr for expansion, modernisation
AS a part of the total corporate investment planof Steel Authority of India Ltd (SAIL), Bhilai Steel Plant (BSP) will be investing Rs 5,000 crore during 2005-06. According to Mr R.P. Singh, Managing Director of BSP, with this investment, the ... More

ALLIANCES & JOINT VENTURES
SBI to finance Tata vehicles
TATA Motors on Tuesday signed an MoU with State Bank of India (SBI) making the latter its `preferred financier' for financing commercial vehicle sales. "As a preferred financier, SBI will work together with Tata Motors to promote and make ... More

Lotte, DS Group venture to launch gum next year
THE joint venture between Lotte Company Ltd of Japan and the Delhi-based DS Group is expected to begin with the launch of gum in the Indian market under the Lotte brand by December 2005. The joint venture, in which Lotte will retain 70 per ... More

RIGHTS ISSUE
Shiva Cement gets go-ahead for financial recast package — Rights issue before April
THE Rourkela-based Shiva Cement has finally succeeded in getting its proposed financial restructuring package okayed by its consortium of bankers. It is now gearing up for its rights issue, which is likely to hit the market by the end of the ... More

OUTLOOK
Ricoh India hopes to reach top slot
AFTER the courts approve the merger of Gestetner with itself, Ricoh India hopes to be able to beat Xerox. Currently, the Japanese office automation major is second only to Xerox in the Indian market, with a 20 per cent share of the market, ... More

Tata group eyes overseas sales of $5 b in 2004-05
THE Tata group is targeting an overseas sales of $5 billion this fiscal through a strategy that will encompass a mix of acquisitions, joint ventures and exports. The group had recorded sales of $3 billion last year. "We are looking at ... More

PERFORMANCE
Maruti finds new customer base in SBI tie-up
MARUTI Udyog Ltd's (MUL) tie-up with State Bank of India for car financing has been paying rich dividends, according to the company's Managing Director, Mr Jagdish Khattar. The bank's huge network of branches and customer portfolio spanning ... More

TRENDS
Corporates open to sponsoring other Olympic sports, but seek tax sops
MARKSMAN Rajyavardhan Singh Rathore, winner of the silver medal at the Athens Olympic Games, has not yet seen sponsors queuing up. But, Indian cricketers continue to be the favourite among corporate sponsors irrespective of the team ... More


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Top Stories
15.5 pc productivity-linked reward for port workers


Software sector set to net $16 b in exports: Nasscom

BSNL moves ASCI against Airtel advertisement

NBFC stocks in limelight

Tea exports begin to show downward trend

Corporates open to sponsoring other Olympic sports, but seek tax sops

Looking back
Nov. 28-Dec. 4
GAIL in talks for stake in China Gas — Plans Rs 2,000 cr investments in Russia

UB offers Rs 131 cr for Chhabria's stake in Herbertsons — Files application before SC

Reliance Info to challenge penalty

Maruti sales rise 7.8 pc in November

Reliance row: Will shareholder interests be the first casualty?

India Inc makes inroads into Africa — Auto majors, pharma cos join the fray


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