The Hindu Business Line : Sunday, February 06, 2005

GAIL to buy bottling units from pvt LPG cos
GAIL (India) Ltd plans to buy bottling capacities from private cooking gas marketing companies for its planned entry in cooking gas distribution by April next year. The company received the Government's official go-ahead to enter retail ... More

Natco Pharma gets European approvals
NATCO Pharma Ltd has received certification of suitability (CoS) from the European Pharmacopoeia for two of its active pharmaceutical ingredients - Ondansetron hydrochloride dihydrate and Sumatriptan succinate. In a press release here, the ... More

ITC's fruit, spice conserves
NEW DELHI: ITC Ltd's Foods Business has announced the launch of fruit and spice conserves under the "Kitchens of India" brand name in four flavours. The Divisional Chief Executive, Mr Ravi Naware, said "Kitchens of India Fruit & Spice ... More

SAIL pays Govt interim dividend of Rs 532 cr
STEEL Authority of India Ltd (SAIL) has presented a cheque of Rs 531.70 crore to the Government as interim dividend for the current financial year. The Centre holds 85.82 per cent stake in the company. The company will soon be paying a ... More

Sterlite Optical bags Rs 2.5-cr Sudan deal
STERLITE Optical Technologies has won a Rs 2.5-crore contract for supply of fibre optic cables to Sudan. The contract is part of an engineering, procurement, construction and commissioning work consisting of a multi-product pipeline project ... More

Kinetic defers launch of Italjet scooters to April
KINETIC Motor has put off the launch of scooters from the Italian two-wheeler maker, Italjet, to April, while its plans to set up a plant in Thailand have been put on the backburner. In another development, the deliveries of the 250 cc ... More

Surana Telecom, Bhagyanagar Metals okay stock split plan

PRIVATE PLACEMENT

Balrampur Chini to offer equity to Citigroup
SUGAR major Balrampur Chini Mills Ltd has decided to place over 8 per cent of equity with two institutional investors, of which one is Citigroup. The company will also reduce the face value of its equity shares from Rs 10 to Re 1. These ... More

PREFERENTIAL ALLOTMENTS

Avon EGM okays pref offer
HYDERABAD: Pharmaceutical company Avon Organics Ltd has informed the stock exchanges that its shareholders, at an extraordinary general meeting, had authorised the company's board of directors to issue 15 lakh warrants convertible into 15 ... More

OVERSEAS BORROWINGS

Strides Arcolab board nod to raise $40 m thru FCCB
THE board of directors of Strides Arcolab has approved a proposal to issue foreign currency convertible bonds or similar securities for up to $40 million (over Rs 175 crore). The amount raised through the route will finance the company's ... More

Punj Lloyd raises $50 m through pvt consortium
ENGINEERING construction company Punj Lloyd has announced that it had raised $50 million through a private consortium, led by Standard Chartered Pvt Equity. The consortium includes Temasek Holdings, Merlion India Fund, New York Life and Jacob ... More

COMPANY LAW

Review decision on appointment: Co secretaries
WITH a new dispensation at the Ministry of Company Affairs and the Institute of Company Secretaries of India (ICSI), company secretary professionals are looking forward to better days. The ICSI has requested the Ministry to reconsider its ... More

AWARDS & HONOURS

Enters Limca book of records
HYDERABAD: Nagarjuna Construction Company Ltd has entered the Limca book of records with its novel water supply scheme in Maharashtra. The project in Amaravati district has been recognised as the largest scheme for supply of drinking ... More

COURTS/LEGAL ISSUES

ITC-government excise spat — Smoke the settlement pipe
With the Union Government issuing an ordinance to nullify the apex court ruling in the ITC case, the stage appears set for a legal battle, the outcome of which will set the boundaries within which the Government can act. More

FINANCIAL PERFORMANCE

Wanbury net up
MUMBAI: Wanbury Ltd has recorded an income of Rs 18.95 crore for the three-month period ended December 31, 2004. This is marginally higher than Rs 18.27 crore clocked in the same period last year. The company registered a net ... More

IPR

Morepen files patent
NEW DELHI: Morepen Laboratories Ltd has filed a patent for a new polymorphic Form IV of cholesterol lowering drug, Atorvastatin Calcium, in about 33 countries, including the US, Canada and other European countries. According to a company ... More

MERGERS & ACQUISITIONS

P&G-Gillette deal: Getting the FMCG sector in a lather
IT IS competitors, rather than the listed Indian arms of P&G and Gillette, which may feel the first aftershocks of the $57-billion global acquisition deal inked last week between the Procter & Gamble Company and ... More

Big ticket M&A deals slated for 2005
THE $600-million (Rs 2,609 crore) Holcim acquisition of ACC was rated among the top six mergers and acquisitions (M&As) till date the world over in 2005, the largest deal last month being the $3,280-million (Rs 14,264 crore) acquisition of Korea More

SOCIETY & DEVELOPMENT

Meritor aid for tsnuami victims

PERFORMANCE

Larger firms post sizeable growth in profits — Results reflect fresh capacities going on stream
THE aggregate profits of 461 companies that are part of S&P CNX 500 index rose 21 per cent in the quarter ended December 2004. This is significantly lower than the 44-per-cent growth in the quarter ended December 2003. The lower growth rate is . More

Hyundai sales up 23 pc in Jan
NEW DELHI: Hyundai Motor India's total sales grew by 23 per cent in January 2005 to 20,911 units over the same month last year. The company's domestic sales grew 15.3 per cent from 12,608 units in January 2004 to 14,540 units in January ... More

IMFA group cos post higher output
THE IMFA Group has announced that its two group companies — Indian Metal & Ferro Alloys Ltd (IMFAL) and Indian Charge Chrome Ltd (ICCL) — have achieved several records in production volumes during January. Ferro chrome production ... More

PEOPLE

Samsung CEO for S-W Asia
NEW DELHI: Samsung India Electronics Ltd has announced the appointment of Mr S.H. Oh as the new President and CEO of Samsung (South-West Asia). He takes charge from Mr K.S. Kim. In addition to India, Mr Oh would be in charge of all ... More

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