Financial Daily from THE HINDU group of publications
Wednesday, May 15, 2002
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ANNOUNCEMENTS


Eveready sells Assam tea garden to Rossell
EVEREADY Industries India Ltd, the flagship company of Mr Brij Mohan Khaitan, has sold its Assam-based Romai tea garden to Rossell Tea for Rs 13.91 crore. According to the official spokesperson of Eveready Industries, the company has till date ... More

Ranbaxy: A shot at US market
A FEATHER in the cap of Ranbaxy's research and development division. The pharma major is keen on taking the promising anti-bacterial IND molecule to the US market. Dr J.M. Khanna, Ranbaxy Laboratories' President-R&D, told Business Line ... More

Guj Gas to buy extra gas from GSPC
GUJARAT Gas Company Ltd (GGCL), the British Gas subsidiary, is bridging its short-term deficit of gas to the tune of 0.225 standard million cu.m.per day, by purchasing at a premium from the Gujarat State Petroleum Corporation (GSPC). The ... More

OPEN OFFERS


Tata's open offer for VSNL oversubscribed
THE Tata group's open offer for an additional 20 per cent stake in Videsh Sanchar Nigam Ltd (VSNL) has been oversubscribed more than 1.5 times. The group will now have a 45 per cent stake in VSNL, having earlier bought a 25 per cent stake from ... More

COMPANY LAW


DCA experts' panel reviewing accounts inspection norms
The provisions of compounding of offences and even the process involved for the same has to be examined. "There is a need for rationalising the whole process. This can be done either by amending certain provisions of the Act or by bringing out proced ural norms," sources said. More

COURTS/LEGAL ISSUES


HC sets aside WBERC order on rate revision
A DIVISION Bench of the Calcutta High Court comprising Mr Justice A.N. Ray and Mr Justice M. Sinha on Tuesday cancelled the order of the West Bengal Electricity Regulatory Commission (WBERC) passed on September 21, 2001. Responding to an appeal ... More

RESTRUCTURING


Samtel India sells unit to Color for Rs 40 crore
Samtel India will now remain in only two spheres of activities - manufacturing of colour monitors and black and white televisions. More

MERGERS & ACQUISITIONS


West Coast to take acquisition route
WEST Coast Paper Mills Ltd (WCPM) of the S.K. Bangur group plans to grow fast through the acquisition route because the company has limitations in expanding capacity at its Dandeli mill in Karnataka due to a space problem. Talking to ... More

NEW PROJECTS


Balco board clears Rs 5,000-cr expansion
THE board of Bharat Aluminium Company Ltd (BALCO), now a part of the Sterlite Group, has approved a Rs 5,000-crore expansion of aluminium and alumina capacity at its Korba facility at Chhattisgarh. The expansion project envisages increasing ... More

  • BHEL electronics unit bags order from Bengal

    INTERVIEW


    ECIL: From almost `sick' to healthy turnaround
    "The leadership of ECIL and the Department of Atomic Energy, particularly Dr R. Chidambaram, played an important role in bringing about a positive change. When proposals were placed before the then Cabinet Secretary, Mr Prabhat Kumar, he said: "ECIL is a national asset and we will not allow it to go to BIFR.'' More

    RIGHTS ISSUES


    Suzuki to take wheel at Maruti: Rights issue at Rs 3,280 a share
    IN a landmark decision, the Centre today decided to hand over management control in Maruti Udyog Ltd (MUL) to Suzuki Motor Corporation (SMC) for a consideration of Rs 1,000 crore. SMC would acquire controlling stake in the country's leading ... More

    SICK UNITS


    SBI told to submit report on Jessop revival by June 15
    STATE Bank of India (SBI), the operating agency (OA), for Jessop & Co Ltd, has been directed by the Board for Industrial and Financial Reconstruction (BIFR) to submit its report on the rehabilitation proposal by June 15. The Bench observed ... More

    OUTLOOK


    Pomsy promises new dimension to biscuits
    THE Kerala-based Pomsy Food Products Pvt Ltd, the newest entrant to the bustling biscuits and snack foods market, promises to "bake more interesting biscuits''. "Right now, biscuits are not perceived as an interesting product. The reason is ... More

    PERFORMANCE


    Leyland's sales up 23.6 pc in April
    ASHOK Leyland Ltd sold 23.6 per cent more number of vehicles in April 2002, against the same month in the previous year, according to a company press release. The truck maker sold 2,236 vehicles last month, as compared to 1,808 vehicles in ... More

    NEW PRODUCTS & SERVICES


    Ranbaxy's new molecule eyes hospital infections
    RANBAXY Laboratories Ltd (RLL) has filed an Investigational New Drug (IND) application for its molecule — Ranbezolid (RBx 7644) — with the Drug Controller-General of India (DCGI) to target hospital-acquired infections. This would ... More
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  • Top Stories
    Registry for high-value financial deals proposed


    LTTE accepting reality of united Sri Lanka — Mr Jehan Perera

    Plans to promote basmati: Exporters plan global campaign in July

    Suzuki to take wheel at Maruti: Rights issue at Rs 3,280 a share

    Tata's open offer for VSNL oversubscribed

    Rural foray deals blow to BSNL's revenue per user

    Overseas investment will boost MFs: Report

    HDFC net up 22.5 pc; to pay Rs 25 dividend

    In Depth
    Inside Kashmir
    Guide to derivatives
    US-64
    Looking back
    May. 5-May. 11
    Western Union has big plans in money transfer sector

    Board-level appointments -- DCA to tighten norms for relatives of directors

    India Inc views long term with greater optimism

    Top 15 account for Rs 53,760 cr -- Investments in 62 projects shelved

    Q4 results prove elusive for investors

    First year after sell-off to Sterlite -- Strike, power shave Balco profit

    Maruti to insure own vehicles -- Ties up with Bajaj-Allianz, NIC


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