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Saturday, December 18, 2004

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CORPORATE

ANNOUNCEMENTS
Ashok Leyland sets up logistics company
ASHOK Leyland Ltd has promoted a new Company Ashley Transport Services Ltd (ATSL) to provide information exchange and integrated logistic services to handle the business of freight contractors etc. "These services are intended to enhance the ... More

BHEL declares 35% interim
BHARAT Heavy Electricals Ltd has declared an all-time high interim equity dividend of 35 per cent for fiscal 2004-05. Last year, it declared a 30 per cent interim dividend. In 2003-04, BHEL paid a total dividend of 60 per cent, including the ... More

Ranbaxy gets tentative US FDA nod for seizure drug
RANBAXY Laboratories Ltd has received tentative approval from the US Food and Drug Administration (FDA) to manufacture and market Topiramate tablets prescribed for the treatment of seizures. "This tentative approval for Topiramate tablets will ... More

PREFERENTIAL ALLOTMENTS
SEBI plans changes in calculation of preferential issue pricing
THE Securities and Exchange Board of India is considering changing the method of calculation of minimum price of preferential issues. As per public comments received on the draft circular published earlier, the market regulator is considering ... More

Devaki Hospitals ropes in two new investors
TWO unnamed investors are to pick up a little over 14 per cent each in Devaki Hospitals Ltd through a preferential offer. The promoters - Madras Medical Care and Health Care Pvt Ltd - will pick up around three per cent more, also through ... More

CORPORATE DISPUTES
Ambani battle may enter the bourses
ALMOST a month after the battle between the two Ambani brothers over the control of Reliance Industries Ltd (RIL) began through the media, it now seems that the battle is all set to turn into a full-fledged war. And this, in all probability, ... More

Zee-Turner snaps signals to Asianet
TEN days after ESPN Star blanked signals to Asianet Satellite Communications Ltd, leading channel distributor and marketer Zee-Turner has done an encore citing `large outstanding' from what is arguably Kerala's largest cable network operator. ... More

OVERSEAS BORROWINGS
Tata Chem board nod to raise $ 150 m
MUMBAI: Tata Chemicals Ltd (TCL) on Friday informed that its board has approved the raising of additional long-term resources amounting to $150 million by issue of appropriate securities here or abroad. "The proposed borrowing programme ... More

AWARDS & HONOURS
Tamil Nadu Newsprint bags ICSI award
TAMIL Nadu Newsprint and Papers Ltd has been awarded the ICSI National Award for Excellence in Corporate Governance for 2004, according to a press release from the company. The award from the Institute of Company Secretaries of India, was given ... More

TPM award for TVS Motor
CHENNAI: TVS Motor Company has been awarded the Total Productive Maintenance (TPM) Excellence Award - First Category by the Japan Institute of Plant Maintenance, a Unit of Japan Management Association (JMA). In a brief ceremony held ... More

Award for Synergies-Dooray
HYDERABAD: Synergies-Dooray Automotive Ltd, the Visakhapatnam-based alloy wheel manufacturing company has been awarded the "Best Foundry-Large Scale Sector', for 2004. Mr Abay Firodia, CEO of Bajaj Tempo, presented the award at the ... More

COURTS/LEGAL ISSUES
HC remits back Glaxo patent issue
MR Justice Pinaki Chandra Ghosh of the Calcutta High Court on Thursday remitted back the issue of patent sought by GlaxoSmithKline Plc claiming Rosiglitazone Maleate tablet as its research invention product, which the Controller of Patents & ... More

MERGERS & ACQUISITIONS
Who will say cheers to Mallya on Monday?
AS UB Chairman Vijay Mallya turns 49 on Saturday and raises the toast in a typically swashbuckling party at Niladri, his palatial home in Mumbai, he would have already sewed up the most significant deal in his 20 years at the helm of the ... More

Nirma to take over Core Healthcare
CORE Healthcare Ltd, the Ahmedabad-based parenterals manufacturing company that went sick, will soon be taken over by Nirma Ltd following a memorandum of understanding to transfer the management and assets to the detergent major. In a ... More

NPIL to acquire Rhodia's inhalation anaesthetics biz
PHARMA company Nicholas Piramal India Ltd (NPIL) has got the green signal from its board to acquire the global inhalation anaesthetics (IA) business of Rhodia Organique Fine Ltd (Rhodia), UK. The acquisition made for a consideration of $14 ... More

NatSteel shareholders okay sale
MUMBAI: The shareholders of NatSteel have approved the sale of its steel business to Tata Steel at an EGM in Singapore on Wednesday. "We are happy that the shareholders of NatSteel have reposed their faith in Tata Steel, its management ... More

NEW PROJECTS
Bay-Forge to inaugurate ring rolling mill
BAY-FORGE Ltd, a leading producer of open die forgings and ring rolling, will inaugurate its ring rolling mill. The mill has been set up at a cost of Rs 80 crore at Bay-Forge's plant at Palayanoor, along the National Highway-45, outside ... More

Emami Paper firms up Rs 300-cr expansion
ENCOURAGED by the high growth of demand for newsprint, Emami Paper Mills Ltd (EPML) has firmed up a Rs 300-crore investment plan to expand its newsprint manufacturing capacity from 150 tonnes per day to 400 tonnes. The consequent expansion of ... More

ONGC approaches bankers to raise $ 600 m for Sudan project
OIL and Natural Gas Corporation has approached Indian and foreign bankers to raise $600 million for financing a refinery expansion project in Sudan, which was awarded to its subsidiary, ONGC Videsh Ltd. The company has asked banks to help ... More

Bonfiglioli Transmissions plans to expand capacity
BONFIGLIOLI Transmissions Pvt Ltd, the 100 per cent subsidiary of the Bonfiglioli Group of Italy, plans to expand its existing capacity with an investment of Rs 20 crore. The expansion process started three months ago and will be completed by ... More

Santi Arts plans Rs 5-cr unit to hike production
SANTI Arts Hi-tech Medias Ltd, a Guntur-based screen printing company, will soon set up a Rs 5-crore unit to scale up production of painting replicas and publicity material. The Rs 10-crore group, which found an interesting business proposition ... More

Mayar to open facility in Himachal
NEW DELHI: Herbal remedies company Mayar India Ltd is investing Rs 150 crore in setting up a manufacturing facility in Baddi, Himachal Pradesh. This is part of the company's strategy to promote and optimise the output of its Shivananda ... More

ALLIANCES & JOINT VENTURES
Finolex pact over electricians
KOCHI: Finolex Cables Ltd has signed an agreement with Bajaj Alliance General Insurance Company for insuring electricians from all over the country. The group insurance scheme, which is the largest, such deal in the State covering over ... More

Grandix ties up with UK, US firms
Chennai: Grandix Pharmaceuticals of Chennai has announced tie-ups with Kareeb Chempharm of UK and Neurosci Inc of the US "to tap the export potential" in the two countries. The company has said in a release that it manufactures a range ... More

SOCIETY & DEVELOPMENT
BPCL conducts medical camps for auto drivers
THIRUVANANTHAPURAM: Bharat Petroleum Corporation Ltd (BPCL) is conducting a series of free medical camps for auto-rickshaw drivers in Thiruvananthapuram and Kollam. ... More

PEOPLE
New President - Finance for Lupin
MUMBAI: Lupin Ltd on Thursday announced that Mr Indrajit Banerjee has joined the company as the President - Finance and Planning. Mr Banerjee is a chartered accountant with over two decades of experience in companies such as Indal ... More

Tata Motors ED wins CFO award
MR Praveen P. Kadle, Executive Director (Finance and Corporate Affairs), Tata Motors, won the CFO Award for 2004, instituted by the International Market Assessment (IMA) India Pvt Ltd. Executives also received honours in the category of ... More


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