The Hindu Business Line : Saturday, March 05, 2005

GSPC finds oil in well discarded by ONGC
GUJARAT State Petroleum Corporation Ltd (GSPC) has discovered a significant quantity of oil in the Tarapur block, which had been bagged by the Gujarat Government company in 2000. "I am happy to announce that GSPC has discovered oil in the ... More

NPIL to consider raising funds
MUMBAI: The board of Nicholas Piramal India Ltd (NPIL) will meet on March 12 to consider options to raise funds either from the domestic or the overseas market. According to an announcement on the BSE, NPIL will seek to raise funds from ... More

Porsche to launch sports car
MUMBAI: Porsche Middle East & Africa has officially announced that this year, the company would introduce a new car based on the Boxster series and positioned between the 911 Carrera and the Boxster S. "Like the power of the engine, ... More

AWARDS & HONOURS

HAL, BEML get awards for engineering exports
HINDUSTAN Aeronautics Ltd (HAL) has received the top exporter trophy and award from the Engineering Export Promotion Council's Southern Region for 2001-02 and 2002-03. HAL has been receiving the top honour in the category of exporter of ... More

SCOPE award for NTPC chief
NEW DELHI: The Chairman and Managing Director of National Thermal Power Corporation Ltd, Mr C.P. Jain, has won the SCOPE Award for excellence and outstanding contribution to the public sector management in the individual category for the ... More

COURTS/LEGAL ISSUES

Calcutta HC order will not affect open offer: UB Group
THE UB Group has said that Calcutta High Court's order to maintain status quo with regard to the trademark and brands belonging to Shaw Wallace and Company, will not in any way, affect the open offer made by it. Mr Ravi Nedungadi, President and ... More

TAXATION

Good without the amendment load
T. C. A. Ramanujam on how the Budget makes the corporate tax structure holistic More

RESTRUCTURING

Blue Dart board to discuss divestment in aviation arm
THE recent acquisition of Blue Dart Express Ltd by DHL Express (Singapore) Pte Ltd has prompted a restructuring in the equity holding of Blue Dart Aviation Ltd, a subsidiary of Blue Dart Express. As foreign airline companies are not allowed to ... More

MERGERS & ACQUISITIONS

Divi's Labs CMD to consolidate holding
THE Chairman and Managing Director of Divi's Laboratories Ltd (DLL) plans to further consolidate his personal equity holding in the company by acquiring holding from others in the promoters group. Mr Murali K. Divi has informed the stock ... More

Morarjee Realties clears mergers
MUMBAI: Morarjee Realties Ltd has informed the BSE that its board, at a meeting today, has considered and approved a Composite Scheme of Arrangement and Amalgamation between Piramal Holdings Ltd (PHL) and Piramyd Retail and Merchandising ... More

NEW PROJECTS

Jindal Saw plans to set up branch in US
JINDAL Saw Ltd (formerly SAW Pipes Ltd) is planning to set up a branch in the US to increase its marketing activities. The Managing Director of the Company, Ms Sminu Jindal, told Business Line that the company is expecting to notch a ... More

Lister Metropolis to set up PET scan facility
THE process of detecting diseases will go hi-tech in Chennai city after Lister Metropolis Laboratory & Research Centre Pvt Ltd completes its Rs 30-crore expansion project. A key part of the expansion is the PET scan facility, the cutting edge ... More

OUTLOOK

Toyota aims to wipe out losses early — Targets 15 pc rise in turnover
TOYOTA'S operations in India are turning out to be highly successful for the parent with the subsidiary expected to wipe out its accumulated losses nearly six months before it is due while the company is expected to post a 15 per cent increase ... More

PERFORMANCE

Eicher CV sales up 40% in Feb
EICHER Motors Ltd commercial vehicles sales have registered a 40 per cent growth in February at 2,106 vehicles, against 1,508 units in the same month last year. According to Mr Rakesh Kalra, Chief Executive, Eicher Motors, "The most ... More

PEOPLE

Rahul Bajaj to quit as Bajaj Auto MD — Sons Rajiv, Sanjiv to take control
THE mantle of Bajaj Auto Ltd is to now fall on the shoulders of the fourth generation. The Chairman and Managing Director, Mr Rahul Bajaj, 66, on Friday said that he would like to step down as managing director of the company and make way for ... More

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