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Friday, December 24, 2004

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ANNOUNCEMENTS
Hughes Soft to be renamed Flextronics
HUGHES Software Systems Ltd (HSS) said on Thursday its board of directors has approved the change of name of the company to `Flextronics Software Systems Ltd.' HSS informed the BSE that "the board of Directors of the Company, by way of ... More

JK Industries board recommends 20 pc
THE board of directors of J.K. Industries Ltd on Thursday recommended a dividend of 20 per cent (Rs 2 per equity share of Rs 10 each) for the financial year ended September 30. A communiqué from the company to the Bombay Stock Exchange, said ... More

Gati to hike capital
HYDERABAD: Gati Ltd informed the stock exchanges on Thursday that its board of directors has proposed to increase the authorised share capital of the company from Rs 17 crore to Rs 30 crore. To consider the proposal the company has ... More

MRF pays 140 pc final dividend
CHENNAI: MRF Ltd's board of directors has recommended a final dividend of Rs 14 a share (140 per cent) on the paid-up capital as on September 30, 2004. The company has already declared and paid two interim dividends of Rs 3 (30 per cent) ... More

Praj Ind bags contracts for setting up 2 breweries
Praj Industries, the Pune-based alcohol and brewery technology and engineering group, has bagged two more contracts to the tune of Rs 18 crore for setting up greenfield breweries. The orders involve one brewery to be set up in the Eastern region ... More

HPCL pays interim dividend to Govt
MUMBAI: Hindustan Petroleum Corporation Ltd (HPCL) on Thursday paid the Union Government a 50 per cent interim dividend of Rs 86.54 crore, a news release said. For the first half-year ended September 30, 2004, HPCL had recorded a net ... More

PREFERENTIAL ALLOTMENTS
Gemini Comm plans pref issue
CHENNAI: The Chennai-based Gemini Communication Ltd plans to issue seven lakh equity shares of Rs 10 each on preferential basis. The company's board of directors approved this proposal at a meeting held on December 18. Mr R. Vijaykumar, ... More

CORPORATE DISPUTES
RIL board kept in the dark, says Anil
THE agenda for Reliance Industries Ltd's (RIL) proposed board meeting scheduled for Monday, a day ahead of the 72nd birthday of Dhirubhai Ambani, was a matter of intense speculation with Mr Anil Ambani claiming that the RIL board was kept in ... More

CJM told not to hear Lodha case on Jan 7
IN the criminal proceeding against Mr Rajinder S. Lodha at the Calcutta High Court on Thursday, Mr Justice P.N. Sinha observed that as the matter was being heard at the High Court, the advocate for Mr R.P. Pansari, the complainant, shall not take ... More

MERGERS & ACQUISITIONS
M&A activity in India far from bullish, says KPMG study
THE M&A (mergers and acquisitions) activity in India was lower than the previous year with 258 deals in 2004 — a 25 per cent drop compared to the previous year, according to a KPMG Corporate Finance analysis. While there are indications ... More

NEW PROJECTS
Bhushan Steel commissions galvanised steel line
BHUSHAN Steel & Strips Ltd (BSSL) has commissioned the country's biggest pre-painted galvanised steel line at Khopoli in Maharashtra, a company statement said on Wednesday. According to it, the 1,20,000-tonnes per annum line was imported from ... More

`Volkswagen to set up facility at Vizag'
GERMAN automotive major Volkswagen has finally decided to set up its manufacturing unit in an extent of 400 acres located opposite the steel plant at Visakhapatnam, according to the Andhra Pradesh Minister for Major Industries, Mr Botcha ... More

ALLIANCES & JOINT VENTURES
Naushua Electronics, TCL of China to set up unit in Vizag
SRI Naushua Electronics Pvt Ltd, an electronic goods assembly and maintenance unit, and TCL India Holdings Pvt Ltd, a 100 per cent subsidiary of the $4-billion TCL Corporation of China, are setting up a Rs 100-crore manufacturing plant at ... More

RIGHTS ISSUE
Saregama announces 4:7 rights issue
SAREGAMA India Ltd, an RPG Enterprises group company, on Thursday announced a rights issue in the ratio of four equity shares for every seven shares held. There would be a premium of Rs 35 on every equity share of the face value of Rs 10 ... More

OUTLOOK
HAL hopes to see Dhruv copters on Malaysian shopping list
HINDUSTAN Aeronautics Ltd has said it would put its star product `Dhruv', the advanced light helicopter, in the running if Malaysia decides to renew its helicopter fleet. Three colourfully painted ALHs, called `Sarang', showed their flying ... More

Maruti plans price hike in Jan
MARUTI Udyog on Thursday informed its dealers in a communiqué that it is likely to raise prices next month as rising input costs were putting pressure on margins. Prices would go up by Rs 5,000 to Rs 20,000 in January as costs of steel, ... More

Jisco, JVSL debt set to come down
THE combined outstanding debt of Jindal Iron and Steel Company Ltd (Jisco) and Jindal Vijaynagar Steel Ltd (JVSL) is expected to come down to Rs 3,500 crore by the end of the current fiscal from the current level of Rs 4,100 crore. It may go ... More

PERFORMANCE
LG's refrigerator sales top 1-m mark
ON the back of higher sales of its direct cool refrigerators range, LG Electronics India claims to have sold upwards of one million refrigerators this calendar year. According to Mr Anil Arora, Head (Refrigerators), LG Electronics India, sales ... More


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