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Thursday, March 03, 2005

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Nagarjuna Construction secures new orders
NAGARJUNA Construction Company Ltd has secured new orders from various clients amounting to Rs 331 crores last month. These projects include software buildings, residential flats and irrigation works, according to a company press ... More

Tata Steel to seek shareholders' nod for raising funds
TATA Steel will convene an extraordinary general meeting (EGM) of shareholders on March 24 to seek approval for raising Rs 5,000 crore to fund the company's expansion and growth. The EGM also includes an enabling resolution to allow the ... More

OVERSEAS BORROWINGS


Bharat Forge plans to raise $300 m
BHARAT Forge Ltd (BFL) today informed the BSE that its board has approved raising resources of up to $300 million or rupee equivalent by issuing appropriate securities to meet the company's long-term financing needs. Additionally, it approved ... More

AWARDS & HONOURS


Chandra Textiles bags safety award
COIMBATORE: Coimbatore based Chandra Textiles Ltd (CTL) has won a state safety award given by the Inspectorate of Factories for the year 2001. CTL has won the first prize under the category `Group C' (factories which have worked between ... More

TAXATION


Cut in depreciation rates on certain block of assets
THE Finance Ministry on Wednesday announced reduction in depreciation rates on a host of items for income-tax purposes. The rate of depreciation on plant and machinery has been reduced from 25 per cent to 15 per cent, furniture and fittings ... More

NEW PROJECTS


Mastek picks Chennai for second centre
`With the focus on e-governance, we see the possibility of partnering with governments in some projects.' More

Tata Steel applies for coal block in Bangladesh for steel project
TATA Steel has applied for a coal-mining block in Bangladesh on long-term lease. The proposal is part of the group's initiative to build a 2.4-million tonne steel plant for manufacturing flat products in Bangladesh at an estimated investment of ... More

ALLIANCES & JOINT VENTURES


Pala co-op society in pact with UK firm
PALA Marketing Co-operative Society, one of the largest primary marketing co-operatives in South India, has formed a joint venture company with the UK-based Haydn InterCorp Ltd to produce urological catheters. The Pala Society will hold 74 per ... More

DIVERSIFICATION


CIAL firming up plans to venture into new fields
WITH the submission of the interim report by Ernst & Young next month, the Cochin International Airport Ltd (CIAL) will diversify from areas of core competence such as aviation to seemingly unrelated fields such as convention centre, golf course, More

OUTLOOK


RSP expects to clock Rs 800-cr net this year
ROURKELA Steel Plant (RSP), the weakest of SAIL's four integrated units, is all set to book a net profit after a decade or so. In 2004-05, RSP expects to record a net profit of around Rs 800 crore. The plant's turnover is expected to increase ... More

Budget focus offers new biz avenues for Jain Irrigation
So far it has bagged a number of projects in Andhra Pradesh and is due to commence work for Maharashtra. More

Eicher Motors exploring options to acquire new tech
EICHER Motors Ltd, which has a market share upwards of 30 per cent in the 7-11-tonne commercial vehicles segment and is evaluating a proposal to sell off its tractor and engine business to TAFE, is believed to be exploring several options to ... More

PERFORMANCE


Gujarat Ambuja despatches down in Feb 11 pc; ACC up
GUJARAT Ambuja has reported an 11 per cent drop in cement despatches, year-on-year, for the month of February 2004. This was due to adverse weather conditions this winter in the northern region of the country, as well as a drop in exports, said ... More

GMI posts 42% sales growth in Feb
GENERAL Motors India said on Wednesday its sales grew 42 per cent this February while the year-to-date sales were up by over 75 per cent. The company sold 1,859 cars in February as against 1,309 cars in the same month last year. It sold 1,300 ... More

PEOPLE


B.M. Bansal joins IOC board
Mr B.M. BANSAL has joined the board of Indian Oil Corporation as Director (Research & Development) in charge of its R&D Centre at Faridabad. He was Executive Director at Indian Oil's Mathura Refinery before his elevation to the board, a compa More
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