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Wednesday, March 09, 2005

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Marico Ind going in for name change
IN a bid to reflect its broader business canvas better, Marico Industries Ltd is going in for a name change to Marico Ltd. The FMCG company said it had adopted Marico Industries Ltd in 1989 when the character of the company was largely ... More

PSL bags L&T order
MUMBAI: PSL Ltd has bagged an order worth Rs 343 crore from Larsen & Toubro for supply of spiral-welded steel pipes, coating and other related works pertaining to critical water projects by Gujarat Water Resources Development Corporation ... More

FDA team visits Orchid Chem unit
CHENNAI: The Food & Drug Administration of the US government on Tuesday inspected the formulations facility of Orchid Chemicals & Pharmaceuticals Ltd at Chennai. The inspection covered the full spectrum of oral and sterile formulation ... More

Madhucon bags NHAI deal
HYDERABAD: The National Highway Authority of India has awarded Madhucon Projects Ltd a Rs 250-crore project comprising laying of 57-km four-lane highway in the Bharatpur-Mahua section in Rajasthan on build, operate and transfer basis. The ... More

CORPORATE DISPUTES


Plea to appoint receiver for Priyamvada Birla's belongings
THE two sisters of M.P. Birla, Ms Radha Mohta and Ms Laxmi Bai Newar, today filed a fresh petition for appointment of a receiver for making inventory of the belongings of late Priyamvada Birla, lying at her residences at Kolkata, New Delhi, ... More

POWER


Kerala CM calls meeting on Indal smelter unit
IN a bid to reopen Indian Aluminium Industries Ltd's smelter unit, which has remained closed for the past 19 months at nearby Eloor, the Chief Minister, Mr Oommen Chandy, has convened a meeting of all the parties involved in Thiruvananthapuram on ... More

FIXED DEPOSITS


It's advantage corporates on bank deposit arbitrage
Corporates, for their part, have been quick to seize the opportunity to mint arbitrage money. More

MERGERS & ACQUISITIONS


Ashok Leyland to sell castings unit for Rs 62 cr
CHENNAI: Ashok Leyland will sell its castings unit, Ductron Castings, to Ennore Foundries for Rs 62 crore. Both companies belong to the same Hinduja group. The price was arrived at upon independent valuation by PricewaterhouseCoopers on ... More

Holcim open offer for ACC delayed
HOLCIM'S open offer for ACC shares will not start on Wednesday as scheduled, because the Swiss major is still awaiting approval from the Securities and Exchange Board of India, not to mention the green signal from the Cabinet Committee on ... More

Nod for Vani Sugars' merger plan
HYDERABAD: Shree Vaani Sugars & Industries Ltd has informed stock exchanges that its board has approved the draft scheme of amalgamation and arrangement under which the company will be merged with Karnataka Breweries and Distilleries Pvt ... More

NEW PROJECTS


Uttam Galva Steels set to double capacity
UTTAM Galva Steels Ltd has embarked upon a major expansion plan to double its cold rolling capacity to one million tonnes by March 2006 from the present 5 lakh tonnes. The company also plans to increase its galvanising capacity from 3.5 lakh ... More

IHCL to add 10 indiOne hotels over next 10 months
FOLLOWING the successful launch of its indiOne brand hotel in Bangalore, the Indian Hotels Company, which owns the Taj group of hotels, proposes to set up 10 more such properties over the next 10 months. These hotels would have a capacity of ... More

SKP group eyes SME sector in Pune
THE Mumbai-based SKP group, a consulting group focussed on providing single-window services to foreign companies keen to open shop in India, has announced the launch of its Pune operations. Talking to reporters at the launch of its operations ... More

Chennai may join race for BMW plant
DESPITE the optimism and hype generated by it, there is a growing uncertainty about the prospects of Kerala bagging the car assembly unit that the global major BMW is planning to set up in India. The State's hopes were kindled by the visit of ... More

ALLIANCES & JOINT VENTURES


Lupin terminates deal with Allergan Inc
DRUG company Lupin Ltd has discontinued its alliance with Allergan Inc for the US market. As a result, Lupin will no longer market the children's version of Zymar, an Allergan drug used to treat conjunctivitis. "The tie-up has been ... More

INTERVIEW


`Mid-Day will foray outside Mumbai in coming fiscal'
MID-DAY Multimedia Ltd was in the news recently when Indian Express acquired 10 per cent equity stake in it for Rs 25.54 crore at Rs 60 per share. The Goenka-owned newspaper group bought the stake from the promoters of Mid-Day Multimedia, ... More

OUTLOOK


Honda sets target of 1 lakh cars a year to make engines in India
JAPANESE carmaker Honda on Tuesday said it would need to sell one lakh cars in India annually before it can start making engines. "We need a minimum of one lakh cars annually to start manufacturing engines here," the Honda Siel Cars President ... More

PERFORMANCE


VSP Feb sales turnover
VISAKHAPATNAM: The Visakhapatnam steel plant (Rashtriya Ispat Nigam Ltd) achieved sales turnover of Rs 728 crore during February. The sales turnover during April-February (2004-2005) amounted to Rs 6,907 crore, according to a press ... More

ECONOMIC OFFENCES


Govt initiates disciplinary action against ITDC official
THE Union Government has initiated disciplinary action against the Vice-President, India Tourism Development Corporation's duty-free division, Mr R.C. Gupta, who has been held responsible for the acts of omission and commission in the orders ... More
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