The Hindu Business Line : Saturday, June 04, 2005

Fire in Sitaram Mill
A MAJOR fire broke out in a portion of Sitaram Mill in Mumbai, a National Textile Corporation (North Maharashtra) unit, on Thursday night and was put out several hours into the next morning. There were no casualties. According to a fire brigade ... More

ANNOUNCEMENTS

Ranbaxy's Goa plant gets UK regulator's nod
RANBAXY Laboratories Ltd has received approval from Medicines and Healthcare Products Regulatory Agency (MHRA), UK for its tablets manufacturing unit in Goa. The company can now seek approvals through national filings and Mutual Recognition ... More

BHEL posts all-time high order booking from services sector
BHARAT Heavy Electricals Ltd (BHEL) has recorded an all-time high order booking worth Rs 1,450 crore from the services sector during fiscal 2004-05, an improvement of about 53 per cent over the previous year. With services emerging as the ... More

S. Kumars unit shut down
MUMBAI: S. Kumars Nationwide Ltd has informed the BSE that its worsted fabrics plant at Thandavapura, near Mysore, has been temporarily closed since May 31, 2005 as the workers resorted to a strike. The management is in negotiations with ... More

Reliance slashes all product prices except LAB
RELIANCE Industries Ltd has for the second month in succession slashed product prices. The reduction in prices spanned all its product categories - polyester, polymers and fibre intermediates - but retained the same price for linear alkyl ... More

L&T bags NHAI order
MUMBAI: Larsen & Toubro has won a contract valued at Rs 278 crore from the National Highways Authority of India. This is an Asian Development Bank-funded project involving upgrading and four-laning of a 70-km section of National ... More

Vybra Auto plans to tap market
HYDERABAD: The board of directors of Vybra Automet Ltd has decided to raise Rs 21 crore through capital market for the proposed expansion. The company informed stock exchanges that the board has also decided to seek shareholders' ... More

Contest for Corolla customers
BANGALORE: Toyota Kirloskar has said that all those who buy a Corolla in the next two months will get a chance to win a holiday abroad. A press statement from the company said one among seven customers of the Corolla stands a chance to ... More

Alembic's API unit President
NEW DELHI: Mr K. Srinivas has joined Alembic Ltd as President API business and Generic Alliances. He has an experience of more than two decades in the pharmaceutical industry including a stint with Ranbaxy. In Alembic, Mr Srinivas' ... More

Jindal Poly phase-I expansion
HYDERABAD: Jindal Poly Films Ltd (JPFL), a manufacturer of flexible packaging films, expects its first phase expansion to be completed by the year-end, according to its Managing Director, Mr S.K. Mittal. He said the company (formerly ... More

OVERSEAS BORROWINGS

48 cos seek RBI nod for ECBs
UNITED Spirits, McDowell, Phipson Distillery, Mercator Lines and Bharat Forge are among the 48 companies that had sought permission from the RBI to raise money abroad in April 2005. These companies proposed to raise funds through external ... More

ENVIRONMENT

Sustainability is right in the middle of ABB's business
IN most organisations, sustainability becomes Sunday school talk that gets overshadowed by hard business reality. To avoid this commonplace pitfall, ABB is making multi-pronged efforts at being a `responsible corporate citizen.' Says Mr Bjorn ... More

RESTRUCTURING

Cummins board approves demerger of services wing
THE board of directors of Cummins India Ltd, manufacturer of diesel engines, has approved the demerger of the services business of Cummins Auto Services Ltd (CASL) with Cummins Diesel Sales & Services (India) Ltd (CDSS), a 100 per cent subsidiary More

MERGERS & ACQUISITIONS

Hikal eyes more acquisitions
HIKAL Ltd's appetite for acquisition has not been satiated and the company is scouting for more. "We are evaluating a couple of international companies," Mr Sameer Hiremath, Hikal's Executive Director, told Business Line. He said the ... More

NEW PROJECTS

Suzlon plans units in China, US
CHENNAI: Suzlon Energy Ltd, manufacturer of wind turbines, intends to set up plants for manufacturing rotary blades in China and the US, according to the company's Chairman and Managing Director, Mr Tulsi R. Tanti. The Rs 800-crore ... More

ALLIANCES & JOINT VENTURES

SCA Hygiene inks pact with JohnsonDiversey
SCA Hygiene Products, engaged in the manufacture of tissue and personal hygiene products segment, has entered into an alliance with JohnsonDiversey India, a provider of "hygienic drying" solutions in the Away-From-Home (AFH) segment. According ... More

SICK UNITS

Saurashtra Chemicals: Arcil's sale bid hits roadblock
RECOVERY of funds through sale of non-performing assets has become a problem for institutional lenders even after setting up an asset reconstruction company. Among the latest instances is the Asset Reconstruction Company (India) Ltd's (Arcil) ... More

OUTLOOK

Fiat India looks to steer back with renewed efforts
FIAT India Pvt Ltd, which has slid to low sales volumes, plans to make a renewed effort to get its due share in the country's car market. "We understand the issues Fiat has faced in the Indian market. Our focus is clear and we are here to ... More

Hind Sanitaryware to expand capacity
HINDUSTAN Sanitaryware and Industries Ltd (HSIL), which registered a turnover of Rs 333 crore for 2004-05, has chalked out plans to double its turnover in three years. Addressing a press conference here on Thursday, Mr Sandip Somany, Joint ... More

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