The Hindu Business Line : Thursday, February 10, 2005

Vascular Concepts' stent undergoing clinical trials
AWAY from the global attention on Indian drug companies, fledgling Bangalore-based medical devices company Vascular Concepts is undertaking the clinical trial of its innovative stent, coated with a combination of two drugs. The Rs 35-crore ... More

Nicholas to invest $270 m in R&D
NICHOLAS Piramal India Ltd (NPIL) is planning to invest $270 million in research and development in the next seven years. Speaking to reporters on the sidelines of a biotech conference, Dr Swati Piramal, Director (Strategic Alliances and ... More

ANNOUNCEMENTS

Vishal Exports Overseas' shares split to Re 1
VISHAL Exports Overseas Ltd has split its equity shares from face value of Rs 5 per share to Re 1 per share. The decision to split the shares was approved at EGM held on Tuesday. The company reported a 16 per cent rise in total revenues at Rs ... More

IVRCL plans Rs 145-cr public issue
THE Hyderabad-based IVRCL Infrastructures and Projects Ltd plans to come out with a public issue to raise nearly Rs 145 crore through the book-building route. The company has filed a draft red herring prospectus with the Securities and ... More

Gokuldas Exports plans public issue to fund expansion
GOKULDAS Exports Ltd has announced that it will enter the capital market with a public issue of 31.25 lakh shares of Rs 10 each at a price to be determined through the 100 per cent book-building route. This is to finance the setting up of new ... More

Praj gets Bajaj Hindustan order
PRAJ Industries Ltd has been awarded a contract to install a Rs 25-crore distillery attached to a sugar mill in North India by Bajaj Hindustan Ltd. The distillery, with a capacity to produce 160 kilo litres per day total spirit with provision ... More

OVERSEAS BORROWINGS

Tata Power to raise $200 m through FCCBs
TATA Power Company today said it is raising $200 million through a five-year foreign currency convertible bond issue at a coupon of one per cent. The bonds are convertible at 50 per cent premium over the closing share price of February 8, which ... More

COURTS/LEGAL ISSUES

Court grants stay on Easun Reyrolle EGM
THE City Civil Court in Chennai has granted a stay on an extraordinary general meeting of Easun Reyrolle Ltd shareholders that was to be held on Thursday. The stay has been granted against a petition filed by Niskalp Investments and Trading ... More

HUMAN RESOURCES

Snecma to double manpower in India
FRENCH aircraft engine major Snecma Aerospace announced on Wednesday that it is enhancing its Indian operations, first by doubling its $10-million Indian entity's manpower to 300 by this year-end. Snecma has a two-year-old 50:50 joint venture ... More

MERGERS & ACQUISITIONS

Sun board clears merger of Phlox Pharma
SUN Pharmaceutical Industries Ltd said on Tuesday that its board of directors had approved the proposal for merger of Phlox Pharmaceuticals Ltd, a Board for Industrial and Financial Reconstruction (BIFR) notified company. This was, however, ... More

Komal Chhabria `interested' in SWC's liquor biz
THE Jumbo Group has confirmed the interest of Ms Komal Chhabria Wazir, the second daughter of the Manu Chhabria estate, in acquiring Shaw Wallace & Co Ltd's (SWC) liquor business, and further stated that the bids received for the liquor company's More

NEW PROJECTS

Career Launcher to expand base
CAREER Launcher, a Delhi-based company with interest in the education business, is expanding its presence in the country and West Asia. It plans to cover 10 more cities to the 51 it is already present in, and raise the number of locations to ... More

VINS Bio embarks on expansion drive
HAVING consolidated its market leadership in making anti-snake venom serum in the domestic and overseas markets, VINS Bioproducts Ltd , the Hyderabad-based biotechnology products company, has now decided to embark upon an ... More

REGULATORY BODIES & RULINGS

Central Coalfields no more sick, says AAIFR
THE Appellate Authority of Industrial and Financial Reconstruction (AAIFR) has given its opinion suggesting that Central Coalfields Ltd (CCL), a Ranchi based subsidiary of Coal India Ltd (CIL), should not be treated as a sick company under the ... More

ALLIANCES & JOINT VENTURES

Tata AutoComp, UK's Stadco to set up joint venture
TATA AutoComp Systems Ltd (Taco) and Stadco Ltd of the UK on Wednesday signed a 50:50 joint venture agreement to set up Taco Stadco Automotive. The venture has been set up to offer a low-cost offshore body systems design and development ... More

Lockheed Martin, HAL sign technical aid pact
US-based aerospace giant Lockheed Martin and Hindustan Aeronautics Ltd (HAL) have signed a technical assistance agreement relating to the P-3 Orion maritime surveillance aircraft programme. The agreement will allow the companies to share ... More

Aprilia-Hero Motors jt venture called off
HERO Motors tie-up with Italian two-wheeler giant, Aprilia, for making scooters in India has been called off. Aprilia, which was recently taken over by Piaggio, will now set up its own venture in India along with the parent company, Mr Pankaj ... More

Grandix Pharma tie-ups

INTERVIEW

`Outlook for the next quarter is encouraging'
THE steel industry is booming and the profits are finally there for all to see. Essar Steel Ltd, having posted a net profit of Rs 197 crore for the third quarter of the fiscal, is riding the crest. But there has been no qualitative reduction in ... More

SOCIETY & DEVELOPMENT

RMP Info aid for tsunami relief

SICK UNITS

BIFR okays revival scheme for S.S. Organics
THE Board for Industrial and Financial Reconstruction (BIFR) has sanctioned a Rs 3.58-crore revival scheme for the ailing Andhra Pradesh-based bulk drugs manufacturer S.S. Organics Ltd. The cut-off date for the scheme is March 31, 2003. The ... More

ECONOMIC OFFENCES

Inter-ministerial group to examine prosecutions against Daewoo
THE Government has set up an inter-ministerial group (IMG) to examine the proposals for initiating prosecution against Daewoo Motors India Ltd (DMIL). The IMG comprises nominees of the Ministry of Company Affairs, Central Board of Direct Taxes, ... More

Scoreboard
SE Diary

Comments & Letters to the Editor to: bleditor@thehindu.co.in
Subscribe to: Business Line

Pick a Winner Stock Market Contest

Policy on FDI in retail, realty soon: Kamal Nath

Banks lining up Tier II bond issues

IVRCL plans Rs 145-cr public issue

Southern mills way ahead in raw sugar imports

Govt hopeful of meeting export targets

Adanis plan to enter ship building biz

Threat of sanctions hangs over India's US defence buys: Pranab

In Focus

BHEL Disinvestment