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Wednesday, December 22, 2004

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CORPORATE

ANNOUNCEMENTS
Ranbaxy gets FDA nod for hypertension drug
RANBAXY Laboratories Ltd has received approval from the US Food and Drug Administration (FDA) to manufacture and market Fosinopril Sodium and Hydrochlorothiazide tablets for the treatment of hypertension. Ranbaxy's formulation was found to be ... More

Coal India production target hiked to 332 mt
PRODUCTION target for Coal India Ltd (CIL) has been raised for the current year to 332 million tonnes from 315 million tonnes. Also, in order to reduce the demand supply gap for coal in the next few years, the Government has initiated a ... More

Lakshmi Overseas to pay 15 pc interim
THE board of directors of Lakshmi Overseas Industries Ltd has decided to pay an interim divided of 15 per cent for the current fiscal year 2004-05. Lakshmi Overseas is a fully automated agro-based integrated unit manufacturing rice, solvent, ... More

CORPORATE DISPUTES
Reliance Energy seeks to shift Anil's powers to RIL
RELIANCE Energy Ltd (REL) proposes to withdraw certain powers and privileges of the Chairman and Managing Director, Mr Anil Ambani, and vest them with the promoter, Reliance Industries Ltd (RIL), by altering its Articles of Association. The ... More

Birlas' plea for Administrator over M.P. Birla estate resumes in HC
THE Birlas' petition seeking appointment of an Administrator over the estate of M.P. Birla resumed here today before Mr Justice Kalyan Jyoti Sengupta of the Calcutta High Court. The Birla Group prayed for maintaining status quo with ... More

Zee Telefilms plans legal action against Padmalaya arm's chief
ZEE Telefilms Ltd (ZTL) has decided to initiate legal action against Mr G.A. Seshagiri Rao, Chairman and Managing Director of Padmalaya Enterprises Pvt Ltd (PEPL), a subsidiary of ZTL and Padmalaya Telefilms Ltd (PTL), and his brother Mr G.S.R ... More

OVERSEAS BORROWINGS
RIL borrows 116 m euros for expansion
MUMBAI: Reliance Industries Ltd on Tuesday said it has borrowed 116.2 million euros through Deutsche Bank for refinancing equipment imports for expansion at its Hazira and Patalganga petrochemical units. The loan is in two parts. One ... More

INSIGHT
`122 cos vanished after IPO in April `92-March `98'
ALMOST 122 companies `vanished' after coming out with an initial public offering (IPO) during April 1992 to March 1998, said the Minister for Company Affairs (Independent Charge), Mr Prem Chand Gupta, in the Rajya Sabha on Tuesday. "A total of ... More

RESTRUCTURING
Gulf Oil plans revamp of lubricants business
HAVING carried out a top management recast recently with the introduction of new faces, the lubricants division of Gulf Oil Corporation is now focusing on exports and overseas business activities for growth. The company is also reshaping the ... More

MERGERS & ACQUISITIONS
Natural Resources to expand capacity at 2 coke plants
NATURAL Resources Pte Ltd of Singapore, which has acquired the assets of Wellman Incandescent India Ltd through group company Energy Trading Company Pvt Ltd, has firmed up plans to expand the capacity of its two metallurgical coke manufacturing ... More

NEW PROJECTS
HEC executes NCL order for electric rope shovels
THE state-owned Heavy Engineering Corporation (HEC) has successfully executed orders for three 10 cubic-meter-capacity electric rope shovels for Northern Coalfields Ltd (NCL). The shovels are designed for the Nigahi and Jayant opencast coal ... More

SICK UNITS
BIFR gives time to promoters on Hindustan Cables' revival
THE Board for Industrial and Financial Reconstruction (BIFR) has asked the Ministry of Heavy Industry and the promoters of Hindustan Cables Ltd, to firm up their views on the techno-viability study report (TEVS) being prepared by the IIT and ... More

OUTLOOK
`Change in urea pricing policy key to Madras Fert turnaround'
THE management of Madras Fertilizers Ltd, which has become a sick company, held out promise that, Centre willing, the company could break even in the current year and turn a profit of Rs 80-100 crore in 2005-06. Addressing shareholders here ... More

Widex India draws Rs 10-cr investment plan — To increase hearing aid dispensing centres
WIDEX India, one of the key players in the digital hearing aids business, is gearing up to aggressively grow its operations and is firming up plans to increase its network of dispensing centres across the country in an effort to get closer to the ... More

PEOPLE
Top level changes in LG India
FOLLOWING the elevation of LG Electronics India's Managing Director, Mr K.R. Kim to the post of President, South West Asia, LG Electronics (LGE), there is set to be a key movement at the Korean chaebol's Indian operations. Mr Moon B. Shin, who ... More

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