Financial Daily from THE HINDU group of publications
Saturday, August 03, 2002
Markets (Aug. 2)
BL 2501047.30 (+3.11)
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Dollar (Buy/Sell)48.61/48.74
Gold Std (10 gm)5070 (+60)

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ANNOUNCEMENTS


Reliance to complete Phase I K-G basin drilling by Dec
BY December-end this year, Reliance Industries Ltd (RIL) would have completed the first phase of drilling operations in the deep and choppy waters of the Krishna-Godavari (K-G) basin. "Reliance will announce the outcome of its drilling ... More

GM India plans new model every year
CAR manufacturer General Motors India Ltd on Friday said its much-awaited D segment CBU offering, the Vectra, is undergoing validation exercise and would be launched in the market shortly. It was also planning to roll out several new products, ... More

Guj Ambuja not to make fresh investment in hotels
CEMENT major Gujarat Ambuja has made fresh investments and refurbished its hotel, Radisson Fort, located in Raichak near Kolkata, in an effort to make it a profitable venture. However, the company has also decided that it will not venture into ... More

HMT, BHEL units bag major orders
HMT Machine Tools Ltd, a subsidiary of HMT Ltd, has bagged an order worth Rs 12 crore for the supply of high-speed machining centres and special purpose machines to Toyota Kirloskar Auto Parts, an export-oriented auto parts manufacturing company ... More

BUYBACK


DCA to closely monitor buybacks
THE Department of Company Affairs (DCA) has decided to closely monitor the buyback transactions of corporates in the country. It would soon make it mandatory for its field officers to furnish details of all such companies which have availed of ... More

ACCOUNTING STANDARDS


Deferred has arrived
R. Anand on the implementation issues of AS 22 More

OPEN OFFERS


Final open offer for Axles India
SPICER Heavy Axle Holdings Inc, Wheels India Ltd and Sundaram Finance Ltd have made a "second and final offer to all the balance public equity shareholders" of Axles India, for the purchase of 7.34 lakh equity shares, representing 8.05 per cent ... More

MERGERS & ACQUISITIONS


DSCL net up; takes 51% stake in Moravie
DCM Shriram Consolidated Ltd has reported a pre-tax profit of Rs 14.96 crore in the first quarter of this fiscal compared to Rs 13.58 crore in the same period last year, a growth of 10 per cent. The operating profit stood at Rs 35.98 crore (Rs ... More

REGULATORY BODIES & RULINGS


RPL used public issue proceeds to buy group co stocks: DCA
THE Department of Company Affairs (DCA) has reported diversion of funds aggregating Rs 565 crore from the public issue proceeds of Reliance Petroleum Ltd (RPL) during 1994-95 for buying the stocks of two group companies, including Reliance ... More

Default notices to 69 foreign cos
THE Central Government had received applications from more than 100 foreign companies seeking condonation of delays in filing of statutory papers during the financial year 2001-02. Default notices have been issued to 69 foreign companies by ... More

ALLIANCES & JOINT VENTURES


XPS Cargo signs MoU with Japanese cos
XPS Cargo Services, the express cargo division of Transport Corporation of India, has signed a memorandum of understanding with Yanmar Co. Ltd and Mitsui & Company Ltd of Japan to offer specialised cool container services - "Cold Chain''. ... More

Choice Hotels, Jet Air tie-up for corporates
AFTER the apex fare scheme for the general traveller, it's now the turn of the corporates to receive some freebies. Choice Hotels India (CHI), a name known for its `Quality Inn' and `Comfort Inn' brands, has tied up recently with Jet Airways for ... More

INTERVIEW


`Kinetic group focus on broad portfolio paying off'
"It is true that our turnover was down a bit last year, but our scooter product launches have only happened now or towards the end of last year." More

OUTLOOK


We shall reward investors in next 10-15 years: Mukesh
FOR Mr Mukesh Ambani, return on net worth will be the lone criterion for being in any business and by this measure textiles, which today brings in business of around Rs 400 crore, may not be a thrust area in the future. To a query on whether ... More

Novo Nordisk unfazed by `ragaglitazar' setback
THE setback suffered by the Danish pharma company in the clinical trial of ragaglitazar molecule for diabetes treatment will not affect the company's sales in India, according to Dr Anil Kapur, Managing Director of Novo Nordisk India Pvt ... More

PEOPLE


New Executive Director for BHEL
NEW DELHI: Mr A.K. Puri has been appointed Executive Director (Commercial) of Bharat Heavy Electricals Ltd (BHEL), according to an official release. Mr Puri has taken over from Mr Krishan Kumar, who retired on attaining the age of ... More

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  • Top Stories
    RPL used public issue proceeds to buy group co stocks: DCA


    Reliance to complete Phase I K-G basin drilling by Dec

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