Financial Daily from THE HINDU group of publications
Tuesday, June 07, 2005
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ANNOUNCEMENTS


Maruti to hike Swift prices
BARELY a fortnight after launching its hatchback model `Swift', Maruti Udyog Ltd today said it would hike prices by Rs 8,000 to Rs 10,000 from Thursday. The price increase comes at the end of an introductory offer announced by Maruti during ... More

Balaji Tele plans three more films this fiscal
The decision follows the success of its first film Kyaa Kool Hai Hum. More

Amara Raja to be exclusive supplier for Maruti Swift
AMARA Raja Batteries Ltd has said that it will be an exclusive supplier of batteries to the recently-launched Maruti Swift. The company will supply the premium range of Amaron Zero Maintenance long-lasting batteries, according to a company ... More

BHEL to integrate CAM techniques
BHEL has drawn up plans to integrate computer-aided manufacturing (CAM) techniques with critical functions of product design and quality control in a move towards enhancing production capability. The company has further decided to augment its ... More

Jindal Poly Films open to acquisitions overseas
Kolkata: Jindal Poly Films Ltd is open to overseas acquisitions to expand its value added product basket, according to Mr Punit Gupta, Executive Director (Films) of the company. He was in the city along with Mr S.K Mittal, Managing ... More

L&T bags Oman Cement order
MUMBAI: LARSEN & Toubro Ltd on Monday announced that it had received an order valued at $19 million from Oman Cement Company for a cement grinding plant at Rusayl, Oman. The one-million-tonne a year capacity plant will be executed by ... More

Berger to pay 35 pc final
KOLKATA: The board of directors of Berger Paints India Ltd, at a meeting on Saturday, recommended a final dividend of 35 per cent on equity share capital of the company for the year ended March 31, 2005. Together with an interim of 35 ... More

GAIL for market determined rates in gas transmission
GAIL India has sought a market determined tariff fixation system for natural gas transmission through the grid pipelines. In a statement the authority has said that in the recently announced gas pricing order, the Government has approved a ... More

PRIVATE PLACEMENT


97 pc workers subscribe for shares in Kanan Devan
SETTING the tone for what is likely to be the formation of the biggest participatory management company in the world, 97.16 per cent of the total workforce of Kanan Devan Hill Produce Company Ltd have subscribed to the company's maiden share ... More

CORPORATE DISPUTES


`Infocomm may match Reliance in turnover, profits in 4 years'
AS the broad contours of the Ambani settlement story emerge, the information from the top rungs of the Reliance group suggests that Reliance Infocomm, the telecom arm that has been critical to the family split, is poised to match the flagship ... More

OVERSEAS BORROWINGS


Visaka announces $15-m issue
HYDERABAD: The board of directors of Visaka Industries Ltd, at its meeting held recently, has approved issue of foreign currency convertible bonds / global depository receipts / preferential allotment of shares to the tune of $15 million ... More

COMPANY LAW


Call for discussion on Irani panel report
THE Indo-American Chamber of Commerce (IACC) has called for a thorough discussion on the J.J. Irani Committee Report on company law at various forums of industry and academia. It has said that such discussions were necessary before the ... More

MERGERS & ACQUISITIONS


Khaitans acquire Magors' tea gardens for Rs 170 cr
THE Khaitans today announced that they had bought the 17 Assam tea gardens of the London-based Magors, their earlier partners, for approximately Rs 170 crore. With this development, the Khaitans are slated to become the world's largest bulk tea ... More

Rane Brake Linings to buy Hyd-based component maker
RANE Brake Linings Ltd plans to acquire Soubhagya Diecast Ltd, a Hyderabad-based manufacturer of aluminium pressure die-cast components mainly for the automotive industry, for Rs 5.85 crore. According to a communication from Rane Brake Linings ... More

NEW PROJECTS


Foundation laid for new Maruti plant
THE foundation stone for Maruti Udyog Ltd's Rs 1,524-crore new car plant was laid at Manesar, Haryana, today by the State Chief Minister, Mr Bhupinder Singh Hooda. The plant, which will initially have a capacity of 1,00,000 cars per annum, ... More

TRADE & LABOUR UNIONS


Taking back suspended staff — Toyota, union to meet tomorrow
TOYOTA Kirloskar and its employees' union will meet on June 8 to thrash out the issue over taking back some suspended employees. Sources in Toyota said that the talks between the management and the employees are expected to be held in the ... More

ALLIANCES & JOINT VENTURES


Metropolis to partner with Lankan hospital
METROPOLIS Health Services (India) Ltd, which owns a chain of diagnostics centres, will partner with Nawaloka Hospital, Sri Lanka, to set up diagnostic laboratories in that country. Announcing the proposed venture, Dr G.S.K. Velu, Managing ... More

INTERVIEW


`We have no plans to exit edible oil biz despite low margins'
GODREJ Industries Ltd is on a trajectory of growth but foods business, particularly edible oil segment, is dragging the profitability of the company down. But the company has no plan to exit this business yet. "It would have been much better ... More

STANDARDS & BENCHMARKS


Orchid Chem receives GLP certification
ORCHID Chemicals & Pharmaceuticals Ltd has said that its research and development centre in Chennai has received Good Laboratory Practices (GLP) certification. This certification covers areas such as physical-chemical testing, safety ... More

PERFORMANCE


Ashok Leyland vehicle sales up 19% in May
ASHOK Leyland Ltd sold 4,655 vehicles in May 2005, a 19 per cent growth over the 3,905 vehicles it sold in May 2004. Domestic sales accounted for 4,332 units (3,597) and exports 323 units (308). According to a company press release, total ... More
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