The Hindu Business Line : Wednesday, April 13, 2005

Reva to develop fuel cell cars for IOC pilot project
REVA Electric Car Company Pvt Ltd (RECC) has signed an agreement with Canadian-based Hydrogenics Corporation to develop fuel cell hydrogen cars for a future pilot project by Indian Oil Corporation (IOC). RECC will use its electric vehicle ... More

ANNOUNCEMENTS

L&T bags Rs 165-cr order from Bangalore water supply board
L&T has been awarded a Rs 165-crore order by the Bangalore Water Supply and Sewerage Board (BWSSB) for providing a water supply system under the Greater Bangalore Water Supply Project (GBWSP) scheme. The BWSSB is extending the Cauvery water ... More

BEL scouting for R&D, telecom partners
BHARAT Electronics is on the look out for acquiring or partnering with suitable R&D houses and civil telecom technology companies to complement its technology base. Some serious scouting is on for possible product areas such as multiplexers ... More

Apollo Tyres hikes prices by 3-4 pc
APOLLO Tyres Ltd (ATL) has hiked product prices by 3-4 per cent with effect from April 1. The latest increase has been effected on the company's entire product range which caters to the replacement market, according to Mr Neeraj Kanwar, Chief ... More

OPEN OFFERS

ICICI Bank to sell Crisil stake to S&P
ICICI Bank Ltd has decided to sell its 10.77 per cent stake in Crisil Ltd to Standard and Poor's, which had hiked its open offer price for the Indian rating agency to Rs 775 per share on Sunday, a bank official today said. "We consider the ... More

CORPORATE DISPUTES

Lodha case: HC asks both parties to file citations
MR Justice P.N. Sinha of the Calcutta High Court today called both warring parties for filing their respective citation in support of the contentions already argued in the court, with reference to the criminal proceeding filed by Mr R.P. Pansari. ... More

MERGERS & ACQUISITIONS

Holcim fails to get controlling stake in ACC
SWISS cement maker, Holcim Ltd, failed to get the controlling stake in Associated Cement Companies (ACC). Holcim's open offer made through its Indian holding company Ambuja Cement India Ltd (ACIL), could get only an additional 20.8 per cent stake ... More

Essel Propack acquires UK's Telcon Packaging
ESSEL Propack on Tuesday announced it has acquired 100 per cent stake in Telcon Packaging of UK but did not disclose the value of the acquisition. This move helps Essel Propack to consolidate its laminated tubes manufacturing in ... More

Chrys Cap divests 7.56 pc in IVRCL
CHRYS Capital-II LLC has sold 15.25 lakh equity shares of IVRCL Infrastructure & Projects Ltd, amounting to 7.56 per cent of that company's share capital. In a communiqué to stock exchanges on Tuesday, IVRCL said that the mode of sale was ... More

Khaitans shed 9% stake in Kilburn Engg
THE BM Khaitan Group has offloaded approximately nine per cent of its stake in their group company, Kilburn Engineering Ltd, which has witnessed a turnaround during the last six months. As on December 31, 2004, the Khaitans held almost 66 per ... More

NEW PROJECTS

Vesuvius doubling Kolkata unit capacity
VESUVIUS India Ltd is working on plans to double the capacity of its continuous casting refractory plant in Kolkata at an estimated investment of Rs 40 crore (£5 million). The company, which has completed 10 years of operations, has declared a ... More

Tata Steel plans capacity expansion at units in China
TATA Steel will expand the capacity of its value-added products at three units located in China. These units (two long-product units and one wire drawing unit) have come under the fold of Tata Steel, following the acquisition of NatSteel ... More

Tata Coffee plans to set up facility in Uganda
TATA Coffee is looking at expanding its operations overseas and may set up an instant coffee manufacturing facility in Uganda. Tata Coffee's Managing Director, Mr M.H. Ashraff, recently led an official delegation to Uganda on the invitation of ... More

IPOS

PFC may go public in June
POWER Finance Corporation (PFC) plans to enter the capital market in June with its initial public offering (IPO). The institution, which lends exclusively to the power sector, is also mulling a foray into the banking and insurance sectors to tap ... More

RIGHTS ISSUE

GV Films plans 7:10 rights issue
GV Films is coming out with a rights issue, in the ratio of seven shares for every ten held. The company has informed the stock exchange that it is converting its existing Shanthi and Kamala theatres into a multiplex complex with four screens. In ... More

SICK UNITS

Survey of sick units Dakshina Kannada dt.
MANGALORE: The Centre for Entrepreneurship Development of Karnataka (CEDOK), Dharwad, will conduct a survey of sick industrial units in Dakshina Kannada district. According to an official release, the survey would help in reviving sick ... More

OUTLOOK

HLL looks to beverages for foods biz growth
HINDUSTAN Lever Ltd, which undertook major supply chain and distribution restructuring for its foods business, is finding comfort in backing its revenue and profit earning segments like beverages. In 2004, from a total company revenue of Rs ... More

PERFORMANCE

Ashok Leyland sales up 12.5 pc; at all-time high
ASHOK Leyland has reported all-time high sales of 54,740 vehicles for 2004-05, 12.5-per cent higher than the previous year's sales of 48,654 vehicles. Exports nearly doubled to 6,812 vehicles, compared with 3,782 vehicles in the previous ... More

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