The Hindu Business Line : Wednesday, June 12, 2002

Agra footwear sector under fire
The culprit, it is pointed out, is the virtual moratorium on inspection of factories as part of the agenda of globalisation, liberalisation and flexibilisation of the labour market. The foreign as well as Indian companies allegedly indulge in bad cor porate practices and are well aware of the conditions in the factories from where they import. More

ANNOUNCEMENTS

Shantha Bio Hepatitis B vaccine gets WHO stamp -- Bags $5-m Unicef order
SHANTHA Biotechnics has announced that it been awarded the World Health Organisation (WHO) certification for its Hepatitis B vaccine, Shanvac B, the country's first indigenous recombinant DNA vaccine. Addressing presspersons here on Tuesday, ... More

Shareholders okay MICO dividend

PRIVATE PLACEMENT

CIAL board to discuss pvt placement, rights
THE board of directors of Cochin International Airport Ltd (CIAL) is scheduled to meet in Thiruvananthapuram on June 13 to discuss pressing issues such as subscription of the long-pending rights issue and private placement to expand the company's ... More

AWARDS & HONOURS

Medal for Raichur power station

COURTS/LEGAL ISSUES

Writ against Phillips Carbon disposed

RESTRUCTURING

IISCO recast okayed
THE Cabinet Committee on Economic Affairs (CCEA) today approved a financial restructuring plan for Indian Iron & Steel Company (IISCO), a subsidiary of Steel Authority of India Ltd (SAIL). According to the plan, the Government will stand ... More

UT to exit non-core businesses
HYDRAULICS major UT Ltd has firmed up plans to hive off non-core businesses and focus on consolidation in areas of its core competency. Proceeds from the sale of its Tamil Nadu-based granite business, foundry division at Chandigarh and forging ... More

ALLIANCES & JOINT VENTURES

US co may join hands with Bengal Chem
AN American chemical major has expressed interest on forming a joint venture company with the century-old Central public sector unit, Bengal Chemicals & Pharmaceuticals Ltd. The company, which was set up by Acharya Prafulla Chandra Ray, has ... More

INTERVIEW

`Widia India will bounce back into black soon'
THE ownership of Widia India Ltd, the cutting-tool leader in the domestic market, recently changed hands with the majority stake in its foreign promoter being bought by US tools major, Kennametal. The Indian promoters SAK Industries Ltd also ... More

PERFORMANCE

Cummins India: Exports play spoil-sport
CUMMINS India's performance for the year ended March 2002 has been on expected lines. The company reported a 20.77 per cent dip in net profit at Rs 86.3 crore and a 13.87 per cent drop in sales to Rs 740.91 crore compared to the previous year. ... More

Tata Engg May CV sales rise 82 pc
TATA Engineering has reported total sales of 12,453 vehicles in the domestic market in May 2002, an increase of 12 per cent over the same month the previous year. Sales of commercial vehicles, which began showing an upward trend at the start of ... More

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Looking back
Jun. 2-Jun. 8
Contract farming -- Rallis ties up with SBI; replaces ICICI Bank

Cos will be able to pay dividend to pref shares from capital -- Act change in wake of telecom row

`LML will ride again into glory days with mobikes'

Rs 1,000 - cr private placement -- CVC to look at UTI's Reliance exposure

`Funds no constraint for Grasim's expansion plans'