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Thursday, April 21, 2005

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ANNOUNCEMENTS


KEC bags Rs 231-cr Ethiopian order
POWER transmission and EPC (engineering, procurement and construction) company KEC International Ltd has won four contracts worth $52.9 million (Rs 231 crore) from Ethiopian Electric Power Corporation. Three of the four contracts are for ... More

CORPORATE DISPUTES


Centre passes IOC complaint against RIL to Maharashtra
THE Centre has passed on to the Maharashtra Government the Indian Oil Corporation complaint against Reliance Industries on marketing of diesel through retail outlets in and around Nagpur. Giving out this information in the Rajya Sabha today, ... More

AUDITING


CAG plans review of audit reports of top firms in select sectors
AUDIT reports of top companies in select sectors such as automobiles, cement, textiles, pharmaceuticals and food processing may come under the scanner of the Comptroller and Auditor General of India (CAG) in the coming years. The office of CAG ... More

RESTRUCTURING


Glenmark to revamp domestic formulations
GLENMARK Pharmaceuticals Ltd (GPL) has embarked on a business-restructuring programme in its domestic formulations strategic business unit (SBU). With three divisions in the domestic formulations SBU, the company proposes to create three more ... More

MERGERS & ACQUISITIONS


Gulf Oil set to acquire 51 pc in Chinese venture
GULF Oil Corporation Ltd (GOCL) is set to acquire 51 per cent holding in the China-based Gulf Oil Yantai (Co) Ltd. A decision to this effect was taken at the GOCL board meeting on Wednesday. Announcing this, the company said this was its third ... More

NEW PROJECTS


Unichem begins production at new Baddi plant
Unichem Laboratories Ltd has commenced production at its second formulations unit at Baddi, Himachal Pradesh. This non-antibiotic unit was set up with an investment of Rs 35 crore and it took almost 12 months to complete the project, a company ... More

Naphtha cracker project revival hinges on revised schedule
THE Tamil Nadu Government's move to revive the naphtha cracker project hinges on the revised schedule drawn up for the Nagarjuna Oil Corporation refinery project. According to reliable sources, it makes sense to locate the project in the ... More

Tatas launch three projects in Orissa
IT was a hectic day for the Orissa Chief Minister, Mr Naveen Patnaik, on Wednesday when he attended three functions organised by the Tata Group to mark the launch of their new projects in the State. They were the inauguration of the JN Tata ... More

OVERSEAS INVESTMENTS


Tatas submit status report
MUMBAI: Three Tata Group companies on Wednesday said they have submitted a status update on their investments in Bangladesh to the Board of Investment of that country. The three companies are Tata Chemicals, Tata Steel and Tata Power. ... More

BONUS ANNOUNCEMENTS


Gujarat Ambuja Q3 net down marginally — Goes for stock split, 1:2 bonus
GUJARAT Ambuja Cements Ltd, which reported a marginal drop in third quarter results on Wednesday, said its board has recommended issue of bonus shares in the ratio of one equity share for every two held. The board of directors also approved a ... More

STANDARDS & BENCHMARKS


NFCL gets re-certified for ISO 9001:2000
HYDERABAD: Nagarjuna Fertilizers and Chemicals Ltd (NFCL) has been re-certified for ISO 9001:2000 by BVQI (Bureau Veritas Quality International) for its quality management systems. The company got the ISO tag in 1995. The ... More

OUTLOOK


Sonalika group co begins trials for three-wheeler
THE current fiscal will see the entry of a new player in the Indian three-wheeler market. International Cars & Motors Ltd, a Sonalika group company, has begun trials of its three-wheelers (goods carriers and passenger carriers) and looks to ... More

Insulin pens on cards
WHAT would be Biocon's next step after entering the human insulin world ruled by MNCs? It would now follow it up with devices to deliver insulin, naturally, starting with the injectable pen. The Rs 728-crore domestic biotechnology leader will ... More

Nagarjuna Oil hopes for financial closure by Sept
NAGARJUNA Oil Corporation Ltd, whose 6-million-tonnes-a-year refinery project at Cuddalore in Tamil Nadu is seeing some progress after a long time, hopes to finalise its equity holding structure by June end and achieve financial closure by ... More

Duncans plans to reopen fertiliser unit by July
DUNCANS Industries Ltd, the flagship company of the G.P. Goenka group, hopes to reopen its fertiliser unit at Panki near Kanpur in July. Once the reopening process starts, the company will initiate the exercise of finalising its accounts too. ... More

PERFORMANCE


Western Coalfields turnover up at Rs 4,477 cr
WESTERN Coalfields Ltd reported a provisional turnover of Rs 4,477 crore during fiscal 2004-05, an increase of Rs 595 crore over the previous year's Rs 3,882 crore. In production, the Nagpur-based public sector unit surpassed previous figures ... More
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Sonalika group co begins trials for three-wheeler

Nokia arm picks up stake in Sasken

PSB mergers: Facilitating amendments to Acts likely

Gem and jewellery exports up 29 pc at $15.7 b — GJEPC prefers exemption system over refunds for VAT

ONGC net rises 47% in 2004-05

In Focus

BHEL Disinvestment
China's revaluation
Dabhol power regenerated
Tracking the rains
Sethusamudram Canal Project
India Inc's overseas acquisition
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In Depth

Gender Justice
Simple Economics
Tax Talk
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Looking back
Apr. 10-Apr. 16
Ahill to widen garment range, enter Lanka

Coal India sets production target of 343 mt for '05-06

`CIAL is now a cash-rich company'

Simbhaoli plans new model to double capacity

Srei inks deal with Tatas for 10,000 vehicles

Tata Steel plans capacity expansion at units in China

Apollo Tyres hikes prices by 3-4 pc

Sundram Fasteners' China unit takes off — Zhejiang plant starts third shift

Bharat Forge approves $100-m GDR issue


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