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Thursday, April 07, 2005

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RESEARCH & DEVELOPMENT


Meet to discuss pharma R&D fund utilisation
HOW to make best use of the Rs 150-crore fund for undertaking research and development (R&D) in the drugs and pharmaceutical sector, which the Union Finance Minister, Mr P. Chidambaram, promised to further hike in phases in the Union Budget for . More

ANNOUNCEMENTS


L&T bags Rs 930-cr ONGC order
ENGINEERING and construction company Larsen and Toubro said on Wednesday that it had received an order valued Rs 930 crore from Oil and Natural Gas Corporation. The order is part of the Rs 1,864-crore offshore renovation contract that was won ... More

Vascon Engg makes a foray into North
THE Rs 300-crore Pune-based Vascon Engineering on Wednesday announced its foray into the North Indian markets where it has bagged orders worth over Rs 25 crore from pharma majors Cipla, Dr. Reddy's Laboratories and Charak Pharma at Baddi in ... More

RITES wins $40-million Angola contract
THE consultancy arm of Indian Railways, RITES Ltd, has won five contracts amounting to $40 million from Transport Ministry of Angola for implementing railway rehabilitation projects for CFM (Caminho de Ferro de Mocamedes) Railways, Angola, said ... More

PREFERENTIAL ALLOTMENTS


Rain Commodities plans preferential issue
THE board of directors of Rain Commodities Ltd at its meeting held on Monday has recommended a preferential issue of 50-lakh equity warrants to Citicorp Finance (India) Ltd, 15.99-lakh equity warrants to Sujala investments Pvt Ltd and 34-lakh ... More

OVERSEAS BORROWINGS


CCL to expand capacity, consider FCCB
CCL Products (India) Ltd, formerly Continental Coffee Ltd, is on an expansion drive that would see the company scaling up its manufacturing capacity and setting up a freeze dry facility with an investment outlay of about Rs 65 crore. The ... More

EXCISE AND CUSTOMS


Mahindras to appeal against Rs 304-cr excise duty claim
MAHINDRA & Mahindra Ltd (M&M) will appeal against excise duty claims totalling Rs 304.11 crore. The company informed the BSE today that the office of The Commissioner of Central Excise (Adjudication), Mumbai, had sought payment of Rs 216.03 . More

CORPORATE BONDS


Fitch upgrades BILT NCD rating
CREDIT rating agency Fitch has upgraded the rating of the Rs 50-crore non-convertible debenture programme of Ballarpur Industries Ltd (BILT) to `AA-(ind)' from `A+(ind)' and has assigned a rating of `AA-(ind)' to the new Rs 100-crore NCD ... More

RESTRUCTURING


Hyderabad Ind to transfer engg biz to Titagarh Wagons
THE board of directors of Hyderabad Industries Ltd at a meeting on Monday approved a proposal to transfer the company's Heavy Engineering Division located at Uttarpara in West Bengal to Titagarh Wagons Ltd. Titagarh Wagons has agreed to assume ... More

NEW PROJECTS


Maruti to invest Rs 3,271 cr in 2 new plants
MARUTI Udyog Ltd said on Wednesday that its board had approved an investment of Rs 3,271.90 crore in setting up two ventures — a car-making plant and an engine plant. The car-making plant will be under a new joint venture, called Maruti ... More

Essar Global to set up steel plant in Qatar
ESSAR Global Ltd (EGL) has signed an MoU with Qatar Steel Company for setting up a 4-million-tonne steel plant in Qatar at an estimated cost of $1.25 billion. EGL is an overseas investment arm of the Essar Group. According to a company release, ... More

Tata Ficosa opens 2nd plant in Pune
TATA Ficosa Automotive Systems Ltd (TFAS), the 50:50 joint venture between Tata AutoComp Systems Ltd (TACO) and Ficosa International, Spain, on Wednesday inaugurated its additional manufacturing facility in Hinjewadi, near Pune. Talking to ... More

TRADE & LABOUR UNIONS


Long-term wage pact signed at ITC's Kidderpore unit
THE ITC Kidderpore cigarette factory management has signed a back-to-back long-term wage agreement with the CITU-affiliated ITC Ltd Workers Union. The agreement will come into force retrospectively from March 1, 2005following the expiry of the ... More

INTERVIEW


`Big scope for processed food industry'
THE Pune-based Chordia Food Products plans to provide an incubation system "from conceptualisation to marketing" for the food processing industry. Mr Pradeep Chordia, Managing Director, talks to Business Line about the idea behind the ... More

DIVERSIFICATION


Kannan Devan plans Munnar tourism foray
TOURISM in the tea town of Munnar is in for a major changeover. With a view to showcasing the legacy, traditions, sights and flavours of South Indian plantations, the Kannan Devan Hills Plantations Company plans to enter the tourism map of ... More

OUTLOOK


Durgapur Steel Plant set to report highest-ever profit
DURGAPUR Steel Plant (DSP), one of the four integrated units of Steel Authority of India Ltd, is set to register its highest-ever annual turnover and net profit. According to sources in SAIL, the plant is likely to record a net profit of Rs 700 ... More

Shah Rukh Khan may star in next Hyundai `safety' campaign
HYUNDAI Motor India seems all set to take its now-controversial "safety" campaign a step further with its brand ambassador, bollywood star Shah Rukh Khan, likely to endorse it in an electronic campaign. "We have only discussed it with Shah ... More

PERFORMANCE


NPIL sales hit by VAT, retailers' strike
NICHOLAS Piramal India Ltd (NPIL) has said that its sale of medicines in the country for the three-month period ended March 2005 has been affected because of market conditions. Down stocking by wholesalers and retailers because of value-added ... More

Hindustan Motors Amby sales up 4 pc
KOLKATA: Hindustan Motors' sales of Ambassador cars in 2004-05 registered a 4-per cent growth over the previous year. In 2004-05, it sold 12,522 cars compared with 12,046 units in 2003-04. According to a release, the growth in sales was ... More

Over 4,000 Innova units sold in March
TOYOTA - Kirloskar Motor Company on Tuesday said it has sold 4,011 units of its newly launched vehicle Innova in March. It has posted a growth of 1.24 per cent, selling a total of 43,077 units of all its vehicles in 2004-05. "We are encouraged ... More


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Looking back
Mar. 27-Apr. 2
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