The Hindu Business Line : Thursday, August 04, 2005

Safety programme comes to ONGC's aid in managing crisis
THREE years ago ONGC had launched a certification programme on quality health, safety and environment (popularly known as QHSE) at all of its 300 offshore and onshore installations. The driving force for the programme was the Goa-based ... More

High-level panel to go into causes of Bombay High fire
THE Petroleum Minister, Mr Mani Shankar Aiyar, on Wednesday, while appreciating Oil and Natural Gas Corporation's rapid and effective search and rescue operations, said that the devastating fire at an oil facility off Mumbai coast last week was a ... More

ANNOUNCEMENTS

Orchid's Ceftriaxone gets US FDA approval
THE Chennai-based Orchid Chemicals & Pharmaceuticals Ltd today announced that it has received the formal approval from the US FDA for its generic Ceftriaxone ANDA (Abbreviated New Drug Application). The approval has been received for ... More

Fiat reports damage at Kurla plant due to rains
THE factory of Fiat India Pvt Ltd, located at Kurla in the city, has suffered damage during the recent heavy rains and flooding. Damage assessment is currently on and only when it is complete would the company be in a position to say when the ... More

Tentative nod for Ranbaxy drug
NEW DELHI: Ranbaxy Laboratories Ltd has received tentative approval from the US Food and Drug Administration to manufacture and market the sumatriptan succinate 25 mg, 50 mg and 100 mg tablets used for treatment of migraine. The total ... More

Vascular Concepts plans Europe foray
NEW DELHI:Stent manufacturer Vascular Concepts is planning to enter the European market with its `Pronova' brand of drug-coated stents. Mr Swaminathan Jayaraman, Managing Director, said, "The company is in the final stages of setting up ... More

Bal Pharma to sell Pune unit
BANGALORE: The board of Bangalore-based Bal Pharma has recommended sale of its parenterals and IV fluids unit at Pune for Rs 5 crore to Mumbai-based Sunways India Pvt Ltd, subject to shareholders' approval. The sale would be on a `going ... More

Global Vectra to add 11 copters to its fleet
GLOBAL Vectra Helicorp Pvt Ltd (GVHPL), which is 60-per cent owned by the UK-based NRI firm Vectra Group, is planning to invest Rs 350 crore to add 11 new helicopters to its fleet. The company plans to purchase four HAL manufactured Dhruv and ... More

GR Cables bags BSNL order
HYDERABAD: GR Cables Ltd has bagged an order worth Rs 20 crore from Bharat Sanchar Nigam Ltd for supplying PIJF (polythene insulated jelly filled) cables, a press release said. For the year ended June 2005, the company registered sales ... More

Praxair wins order from Hospet Steels
PRAXAIR India, a leading industrial gases company, today announced that it has won a contract from Hospet Steels for the supply of oxygen. Under the 15-year agreement, Praxair will build, own and operate a cryogenic air separation plant with a ... More

RR Financial sets up art fund
INVESTMENT in art is drawing the attention of financial advisory companies in a big way. The Delhi-based RR Financial has formed a separate company, RR Fine Arts Pvt Ltd, to manage an art fund and counsel clients. The fee-based service would ... More

CORPORATE DISPUTES

Haldia Petro told to give details on share allocation to IOC
THE Company Law Board on Wednesday directed Haldia Petrochemicals Ltd to provide details on whether shares of the company have been allocated to Indian Oil Corporation. It also enquired whether HPL had encashed the cheque given by IOC for the ... More

COURTS/LEGAL ISSUES

Remedies in circles
Mohan R. Lavi on a case of cross-litigation More

INFORMATION TECHNOLOGY

SAP upgrade at NFCL
HYDERBAD: Intelligroup Asia has announced it has completed the technical upgrade for Nagarjuna Fertlisers and Chemicals Ltd (NFCL), from SAP version 4.0B to SAP Enterprise version 4.7. It simultaneously implemented SAP Enterprise ... More

HUMAN RESOURCES

Attracting, retaining skilled staff is top priority: Study
ATTRACTING and retaining skilled staff is high priority for top executives across the globe. A study conducted by Accenture, involving 425 senior executives, found that workforce improvement dominated top priorities. For instance, the maximum ... More

RESTRUCTURING

RIL to demerge power, finance, telecom — Investors to get shares of separated units
RELIANCE Industries Ltd (RIL) has decided to demerge its holdings in Reliance Capital, Reliance Energy and Reliance Infocomm into separate entities for facilitating their transfer into the Anil Ambani-led ADA Enterprises fold. This was ... More

The equity structure — post-demerger
After the demerger of Reliance Industries Ltd, the equity structure of the ADA companies will be as follows: Reliance Capital Services Reliance Capital Ventures Ltd, which will result from the reorganisation of RIL's shareholding, ... More

Hero group spins off BPO division into separate company
THE Hero Group, on Wednesday, announced the hiving-off of its IT-enabled services unit, HeroITES, into an independent company, to pave way for the latter's proposed initial public offering by end-2006. The company said that Mr Sunil Kant Munjal ... More

NTC commences work on restructuring of mills
NATIONAL Textile Corporation, New Delhi, has commenced work on restructuring 22 mills countrywide. NTC has recently garnered Rs 2,000 crore from the sale of mill land in Mumbai. A few days ago, National Textile Corporation, New Delhi, ... More

ALLIANCES & JOINT VENTURES

Andhra Bank to fund purchase of New Holland tractors
ANDHRA Bank has tied up with New Holland Tractors (India) Pvt Ltd for tractor financing. The Andhra Bank Executive Director, Mr R. Balakrishnan, exchanged an MoU with the New Holland Marketing Director, Mr D.K. Dhamija, to this effect here on ... More

Supreme Alloys ties up with US co for TMT rebars
SUPREME Alloys, a Ghaziabad-based company, has tied up with US-based SAL Tempcore Inc for manufacture of rib enforcement thermal mechanical treatment (TMT) rebars for the construction industry. A plant has been set up in Ghaziabad in technical ... More

EVENTS

Emotions run high at Reliance AGM
THE 31st AGM of Reliance Industries Ltd was not without its share of melodrama, with Mr Anil Ambani, providing much of the substance. The younger Ambani played on the emotions of the shareholders saying he counted himself fortunate that he was ... More

SOCIETY & DEVELOPMENT

Mumbai sees corporates' human face
WHILE the rains in Mumbai have created havoc with the Government estimating losses at nearly Rs 15,000 crore, corporate houses in Mumbai are reluctant to reveal their losses. Instead they believe in focussing on their CSR (corporate social ... More

DIVERSIFICATION

Assam Co plans pharma foray
ASSAM Company Ltd, which is demerging its tea and oil and natural gas business, is planning to enter the pharmaceuticals and biotech space. The company is planning to enter into bulk drug supply agreements with pharmaceutical ... More

RIGHTS ISSUE

Priyadarshini Spg rights offer
HYDERABAD: The board of directors of Priyadarshini Spinning Mills Ltd has approved the draft letter of offer for rights issue. The company proposes to offer 37.8-lakh equity shares of Rs 10 each for cash at a premium of Rs 15 per equity ... More

SICK UNITS

Keltron revival plan awaits Govt nod
THE long-pending proposal for the rehabilitation of the public sector Kerala State Electronics Development Corporation (Keltron) now hinges on the Government's clearance of the package submitted by the company and the suggestions put forth by ... More

OUTLOOK

Life Sciences is RIL's next big idea
RELIANCE Industries Ltd (RIL) will be investing Rs 42,600 crore over the next four years in its petroleum refining and E&P (exploration & production) activities. Just as the company has set 2009-10 as a threshold year to emerge into a global More

Tata Motors bets on Dicor to drive Safari sales
TATA Motors today launched a variant of its sports utility vehicle Safari, fitted with a common rail direct injection (CRDi) engine, and said that it had plans to offer the CRDi engines on its other models as well. "The Safari was the first ... More

Continental brand in SAARC: Metro hopeful of pact soon
THE Rs 300-crore Metro group may soon acquire rights from German tyre company, Continental AG, to sell automotive tubes for the SAARC region under the `Continental' brand name. The automotive tubes, including four-wheeler tubes, would be ... More

RIL may look at M&A for growth
EVEN as Reliance Industries Ltd is eyeing a threshold year of 2009-10 for its Rs 42,600-crore investment to show results, in the interim period, the company may be looking at the M&A (mergers and acquisitions) route for major growth. According .. More

Reliance to invest Rs 3,900 cr in Hazira
RELIANCE Industries Ltd (RIL) will be pumping Rs 3,900 crore into its Hazira petrochemicals plant in the next one year. This is over and above the Rs 42,600-crore capital expenditure in the petroleum refining and E&P sectors announced by Mr ... More

Easun Reyrolle's switchgear acquisition fetching big orders
MR Hari Easwaran, Chairman, Easun Reyrolle, told a press conference here today that the company's acquisition of the switchgear business of Easwaran and Sons Engineers Ltd in January, for a consideration of Rs 5 crore, has brought in rich orders. ... More

PEOPLE

Provogue promoter remanded to police custody till Aug 17
MR Salil Chaturvedi, one of the promoters of Provogue (India) Ltd, who was arrested by Mumbai police on Tuesday on drug-related charges, has been remanded to police custody till August 17, according to his family members. Ms Shital Chaturvedi, ... More

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