The Hindu Business Line : Monday, October 03, 2005

GEM India picks up stake in Sula Vineyards
SULA Vineyards has announced that private equity fund GEM India Advisors (GIA) has invested an amount of Rs 15 crore ($3.5 million) for a minority stake in the company. This transaction is the first of its kind in India, with an international ... More

CORPORATE DISPUTES

BSNL sends disconnection notice to Tata Tele — SC hearing today on appeal against tribunal order on ADC
BHARAT Sanchar Nigam Ltd (BSNL) has directed all its circle units to issue disconnection notice to Tata Teleservices for non-payment of access deficit charges (ADC) while offering fixed wireless telephone services (Walky). In a notice sent to ... More

AWARDS & HONOURS

Dabur, Amul win awards
NEW DELHI: Dabur Foods and Amul GCMMFL did the honours at the Seventh Annual Indian Dairy and Beverage Industry Awards held this week. Dabur Foods won the Package Innovation Award and Product Innovation Award in the Beverage Category, ... More

MANPOWER

Facor cuts production, lays off 40 pc of workforce at Garividi village
FERRO Alloys Corporation (Facor) at Garividi village in Vizianagaram district has effected a production cut and laid off 40 per cent of the workforce from Saturday, citing the reasons of shortage of raw material and depressed market ... More

MERGERS & ACQUISITIONS

Escorts deal plagued by land ownership issue
IN the wake of the recent controversy generated over Escorts Ltd selling its stake in Escorts Heart Institute and Research Centre (EHIRC) to Fortis Healthcare, ownership of the land on which the hospital stands could be yet another obstacle in ... More

CORPORATE GOVERNANCE

Accountant on the fraud trail
V. Manickavasagam and Kishore Vaangal on the need for forensic audit More

NEW PROJECTS

Tata Ryerson to cash in on demand for rebars — Setting up plant in Faridabad
TATA Ryerson Ltd, a 50:50 joint venture between Tata Steel and Ryerson-Tull of the US, hopes to leverage on the growing market for rebars and grow at a pace faster than anticipated. With rebar processing facilities being set up in Faridabad ... More

Winsome group on expansion mode
THE Chandigarh-based Winsome group is expanding and modernising its spinning and knitting production lines at an outlay of Rs 250 crore. The group is increasing its spindleage from the present 1,00,000 to 1,50,000. It is also expanding its ... More

OUTLOOK

NTPC Simhadri unit to promote fly ash utilisation
The demand for fly ash from foreign companies has been increasing in recent times. More

SAIL hopeful of 8-9 pc growth this fiscal, says Chairman
THE steel major, Steel Authority of India Ltd (SAIL) is likely to record a growth of between eight-to-nine per cent during the year despite recording a growth of about 11 per cent till now, the company Chairman, Mr V.S. Jain, has said. "The ... More

`Exit from Michelin joint venture not a setback for Apollo Tyres'
APOLLO Tyres Ltd does not see its exit from the Michelin Apollo Tyres Pvt Ltd (MATPL), a 51: 49 joint venture company with the Michelin group, as a "setback" in its efforts towards getting a slice of the high-potential truck and bus radial ... More

DCM Engg to hike grey iron castings capacity
The company is also working on increasing the capacity of its textile division. The company's IT division is also diversifying and the real estate division is all set to begin its first phase of construction. More

PERFORMANCE

Tata Steel records all-time high production in Q2
TATA Steel recorded an all-time high hot metal, crude steel and saleable steel production in the second quarter of fiscal 2005-06. During July-September 2005, Tata Steel produced 1.32 million tonnes of hot metal, 1.23 million tonnes of crude ... More

Optical fibre cables: PowerGrid earns Rs 20 crore lease rental
THE public sector Power Grid Corporation of India Ltd (PGCIL) has begun generating revenues from its telecom operations in the southern region. Sources said this year PGCIL has earned about Rs 20 crore as lease rentals for its optic fibre cable ... More

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