The Hindu Business Line : Wednesday, August 07, 2002

Tatas mull lowering retirement age of non-executive directors
THE Tatas are considering a proposal to lower the retirement age of non-executive directors on the boards of group companies to 70 years. The Chairman, Mr Ratan Tata, told shareholders at the 83rd annual general meeting of Tata Power Company ... More

Petrol variant of Scorpio to be launched this month
MAHINDRA & Mahindra whose Scorpio rolled into the market last month is all set to launch a petrol version of the SUV with engines imported from Renault of France. The M&M Vice-President-Marketing (Automotive Sector), Mr Rajesh Jejurikar, told ... More

ACCOUNTING STANDARDS

The SEC deadline draws near, but...
WITH the US Securities and Exchange Commission (SEC) August 14 deadline for the certification by the CFOs and CEOs of large, publicly traded companies that their financial statements are accurate looming over the horizon, foot-dragging in ... More

OPEN OFFERS

Luxottica told to make open offer for Ray-Ban — SEBI says takeover code violated
Even though the SEBI statement has not prescribed the price at which the offer has to be made, stockbrokers said that it would be around Rs 105 with an additional interest of around Rs 45 per share. This means Luxottica has to pay around Rs 150 per s hare to Ray-Ban shareholders, brokers said. More

MANPOWER

NTC to offer VRS for Shengottah unit
NTC has spent nearly Rs 40 crore towards workmen's compensation offered under the VRS programme in Tamil Nadu, for the past one year and nearly 2000 workers had opted for VRS. More

MERGERS & ACQUISITIONS

Britannia promoters transfer stake to joint venture co
THE shareholding pattern in Britannia Industries Ltd (BIL) has undergone a major change with the incumbent joint promoters of the company — the Nusli Wadia group and Groupe Danone of France — deciding to transfer their total 45.34 ... More

Lenders not to hold more than 25% in MRPL
THE lenders who have exposure to Mangalore Refineries and Petrochemicals Ltd (MRPL) will not hold more than 25 per cent of the equity capital of the company, post-restructuring. According to the understanding reached between Oil and Natural ... More

NEW PROJECTS

ONGC to produce petrol at Uran
UPSTREAM oil giant Oil and Natural Gas Corporation Ltd has plans to produce transport fuels. The company plans to set up a petrol production unit at Uran, according to sources. This will be the first time that the company will enter the ... More

ALLIANCES & JOINT VENTURES

Alliance with Scottish & Newcastle — UB ready to revive Castle Breweries
THE UB group is close to reviving Castle Breweries Ltd in West Bengal. The brewery is likely to become part of UB's proposed joint venture with the UK brewer, Scottish & Newcastle Plc. The domestic beer major suspended operations in the unit ... More

HarperCollins teams up with India Today for publishing, distribution
HARPERCOLLINS Publishers has established a new book publishing partnership with the India Today Group. The new joint venture, HarperCollins India, according to an official release by HarperCollins Publishers, plans to publish a wide range of ... More

INTERVIEW

ITC's international business unit strikes the right note
"Over the next few years, the game plan is to get involved in horticulture, spices, rice and some other oilseeds which we are exporting. In future, we will also get involved in some of the other crops in niche segments such as organic farming. We wil l be more diversified." More

STANDARDS & BENCHMARKS

BHEL unit gets OHS tag
BANGALORE: BHEL's Electroporcelains division has become the first insulator unit to receive the OHSAS-18001 certification for its occupational health and safety management system. The PSU's Bhopal and Tiruchi units have already received ... More

OUTLOOK

Mitsubishi Chem arm may break even this year — Plans 75,000 tpa capacity hike
MCC PTA India Corp Pvt Ltd, the subsidiary of Mitsubishi Chemical Corporation (MCC), expects to break even this year after making losses for two successive years since inception in April 2000. At a press conference here, Dr Takaharu Fukumoto, ... More

Keonics aims for 20 pc revenue growth
KARNATAKA State Electronics Development Corporation Ltd (Keonics) is planning to achieve 20 per cent growth in revenues from its commercial activities, up from Rs 10 crore in 2001-02, while its training division aims to offer revenue-generating ... More

SKF Bearings to focus on aftermarket segment
SKF Bearings India Ltd plans to focus more on the aftermarket operations. Currently, aftermarket operations account for 40 per cent of its turnover and the original equipment sales the balance. Last financial year, the company recorded domestic ... More

BG pins hopes on NTPC contract
BRITISH Gas India is pinning its hopes on the three million-tonne LNG supply contract of National Thermal Power Corporation (NTPC) to start its Indian LNG business and to go ahead with its Pipavav terminal project in Gujarat. "We need some firm ... More

PERFORMANCE

SAIL's marketing wing posts 30% growth in sales
THE Central Marketing Organisation (CMO) of Steel Authority of India Ltd (SAIL) has achieved a 30 per cent growth in sales, during the April-July period of the current fiscal, over that of the same period the previous fiscal. A release from CMO ... More

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Patni Computer among 18 FDI plans cleared

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In Depth
Gender Justice

Simple Economics

Small Investor

Looking back
Jul. 28-Aug. 3
`BPL is going through mid-course corrections' — Mr H.N. Srinivas, Senior Vice-President, HR

DCA to closely monitor buybacks

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

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