The Hindu Business Line : Thursday, June 16, 2005

HM in talks with Volkswagen, Peugeot for component supplies
HINDUSTAN Motors said on Wednesday it was in talks with players such as Volkswagen and Peugeot to supply components from its Uttarpara plant. "We are in initial talks to supply (body) panels to Volkswagen and forgings/casting components to ... More

Skoda to roll out 4 new models; plans exports
AFTER achieving sales of 20,000 units in three-and-a-half years, Skoda Auto India has drawn up aggressive plans for the Indian market, which include not only rolling out over four new products in the next 12 months, but also establishing India as ... More

No plans to sell stake, says Gillette India promoter
PROCLAIMING that he has no plans to exit Gillette India Ltd (GIL) pursuant to the global acquisition by Procter & Gamble (P&G), the Chairman of the company, Mr Saroj K. Poddar, said today that he was not a "keen seller". Earlier this year, P& More

IOC to introduce branded diesel for fishing sector
THE Kochi Division of Indian Oil Corporation is all set to launch their premium grade diesel across almost all their outlets in the fishing sector soon. The Senior Divisional Retail Sales Manager, IOC, Kochi, Mr Soman Mathews, launched the ... More

Callidai Motor launches 4 new products
CALLIDAI Motor Works, the manufacturers of powered and custom-made wheelchairs and mobility equipment for the physically challenged, has launched four more products including an imported stair lift. The new products are: a battery powered, ... More

RPG Life Sciences closes Pune unit
The steep decline in the international price of Spironolactone, a blood pressure medicine, and Vitamin B12, besides the high cost of manufacture of Androstene Dione (an intermediate used in the manufacture of the blood pressure medicine) have ... More

HML board clears Erumely rubber estate sale
THE Kochi-based Harrisons Malayalam Ltd (HML) of the RPG group plans to sell its rubber estate at Erumely in Pathanamthitta district to liquidate its accumulated losses. The board of directors, which met in Kolkata on Wednesday, has approved ... More

Adani bags contract to build silos for FCI
AHMEDABAD-based Adani Group has bagged the mandate to construct bulk silos for storing and handling grain for the Food Corporation of India (FCI). The project involves creation of 18 lakh tonnes of grain storage and handling capacity by the ... More

OVERSEAS BORROWINGS

Orchid Chemicals plans $100 m GDR issue
ORCHID Chemicals & Pharmaceuticals proposes to raise $100 million through an issue of Global Depository Receipts. The company had earlier planned a `foreign currency convertible bond' issue for $75 million, but has now decided in favour of a ... More

COMPANY LAW

India Inc wants Clause 49 deadline extended
SEVENTY per cent of the country's top Chief Executive Officers and Managing Directors want the Securities and Exchange Board of India to extend the Clause 49 deadline by at least six months as it is difficult to put in place independent directors ... More

HUMAN RESOURCES

Emerson stepping up recruitment in Pune
THE $15.6-billion manufacturing giant Emerson on Tuesday said it was stepping up recruitment for its engineering design centre in Pune, which is the group's third largest design centre globally. "We hope to reach 400-500 engineers in the next ... More

MERGERS & ACQUISITIONS

J.J. Exporters to merge 2 subsidiaries with it
THE board of J.J. Exporters at its meeting here on Tuesday has approved the merger of its two subsidiaries — J.J. Spectrum Silk Ltd and Pooja Creations Ltd - with itself. The merger decision was taken to give better synergy with the ... More

Philips India set to complete merger by July-end — New company to be named Philips Electronics India
THE Rs 3,000-crore Philips India Ltdwill complete the legal merger of all its business divisions in the country by the end of July and emerge with a new name - Philips Electronics India. The high courts in Kolkata, Mumbai and Karnataka have ... More

NEW PROJECTS

Posco may ink Orissa deal on June 22
KOREAN steel major Pohang Steel Company (Posco) is likely to sign the memorandum of understanding with the Orissa Government for setting up the 12-million-tonne-a-year capacity integrated steel project at Paradip next week. Although no date ... More

DCM Shriram to expand sugar, chlor alkali capacities
THE Rs 2,000-crore DCM Shriram Consolidated Ltd (DSCL) has approved a proposal to expand its sugar capacity from 14,000 TCD to 28,000 TCD in Uttar Pradesh and chlor-alkali capacity from 250 TPD to 310 TPD at Kota. The company has also decided ... More

MSP Steel plans to raise Rs 16 cr thru public issue
MSP Steel and Power Ltd is entering the capital market to raise Rs 16 crore through a public issue of 1.6 crore equity shares of Rs 10 each at par. The proceeds of the issue would be used to fund its integrated steel plant in Chhattisgarh. The ... More

REGULATORY BODIES & RULINGS

Time frame set for grant of disclosure approvals
The Minister held that cases of approvals or exemptions under Sections 211 and 212 should not take more than 30 days. More

BRANDS

Why logo?
Many corporates are donning new logos and seeking new identities. Is this just skin-deep or does it signal a fundamental change? Catalyst finds out. More

BONUS ANNOUNCEMENTS

Tata Investment bonus issue
MUMBAI: Tata Investment Corporation Ltd has informed the BSE that its board of directors has approved an issue of bonus shares in the ratio of one share for every two held. The board has also recommended a dividend of Rs 12 per share. ... More

OUTLOOK

Bosch may bring CRDi systems to India — Sees big demand from car segment
IT looks like Robert Bosch GmbH, a manufacturer of common rail direct injection (CRDi) systems, might bring its technology for Indian commercial vehicles from its plant in China. In return, the company might supply CRDi systems for cars ... More

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