The Hindu Business Line : Saturday, December 21, 2002

Hikal puts biotech plans on hold
Hikal, with manufacturing plants in Mahad and Taloja in Maharashtra and Panoli in Gujarat, is also the world's leading manufacturer of Thiabendazole - a post harvest fungicide. More

GlaxoSmithKline declares 37 pc second interim
SLUGGISH business conditions notwithstanding, GlaxoSmithKline Consumer Healthcare Ltd (GSKCH) today declared the second interim dividend of 37 per cent for the year ending 2002. The aggregate of the dividends declared till date for the year ... More

Samtel to exit colour monitors business
TO cope with the increasing demand for advanced colour picture tubes (CPT), the Rs 1,100-crore Samtel Group, has decided to exit from its colour monitors business. The company's board at a meeting held today has taken the decision to close ... More

Surya Roshni bags export order
NEW DELHI: Surya Roshni Ltd, the second largest manufacturers of lighting equipment in India, has received orders worth over $ 1 million for supply of lamp components to the Middle East. According to the company, this is the largest ... More

OPEN OFFERS

Reliance open offer for 20% in BSES — Deal to cost Rs 743 crore at Rs 230.10 a share
THE Rs 65,000-crore Reliance Industries today announced an open offer to acquire 20 per cent equity in BSES Ltd at Rs 230.10 per share, a move that would give the petrochemicals giant full control of the Mumbai-based power utility. The offer, ... More

ACCOUNTANCY

CAs urged to widen scope of services
THE Institute of Chartered Accountants of India (ICAI) would like its members to pursue opportunities to provide value-added consulting services to their clients. The scope of such services, it was felt, has broadened in recent times because of ... More

ENVIRONMENT

Sanghi Spinners bags eco award
SANGHI Spinners India Ltd, the flagship company of the Sanghi Group has won the Oeko-Tex Standard 100 Certificate from the BTTG Manchester United Kingdom (UK), the institute of the international association for research and testing in the field ... More

HUMAN RESOURCES

Top Haldia Petro execs head for the exit door
Commenting on this movement, a senior HPL source said that this level of personnel movement was "not out of tune with normal movement in a company of this size''. More

RESTRUCTURING

Grasim faults CDC proposal to invest in L&T's demerged biz
GRASIM has contended that the terms of Commonwealth Development Corporation (CDC)'s offer to invest in the demerged cement business of L&T is not in the interest of L&T's shareholders. Grasim which has a 15 per cent stake in L&T, is believed to ... More

MERGERS & ACQUISITIONS

Renfro buys out Intersocks' 49 pc in Karnik Hurwits — EOU name changed to Renfro India
RENFRO Corporation, manufacturers of socks with a turnover of $300 million, has signed a partnership deal with Karnik Hurwits Intersocks Private Ltd to foray into the Indian market. Renfro Corporation has acquired 49 per cent equity stake from ... More

NEW PROJECTS

LG mulls plant for CDMA handsets
BULLISH on the growth potential of the telecom sector in the country, the Korean firm LG, is assessing the potential to start a manufacturing base in the country. The company plans to initiate a $5-million marketing campaign to reach out its ... More

REGULATORY BODIES & RULINGS

McDowell, UB Holding voting rights in SWC frozen
THE Company Law Board (CLB) today passed an interim order suspending the voting rights of McDowell & Company Ltd and United Breweries Holding Ltd, which had recently acquired shares in Shaw Wallace & Company Ltd. The decision acquires ... More

ALLIANCES & JOINT VENTURES

Tatas to ship Rover-branded Indicas
TATA Engineering today informed it has signed a manufacturing and supply agreement with MG Rover Group of UK, whereby Indicas incorporating certain Rover-specific modifications, would be made at the Indian company's Pune works and shipped ... More

OUTLOOK

CESC lenders `happy' over Bengal regulatory panel order
THE tariff order given by the West Bengal Electricity Regulatory Commission (WBERC) in the case of CESC making it the only power utility in the country with a tariff structure which is devoid of cross-subsidisation, is likely to have a neutral ... More

Tatra hopes to break even early next year
EARTH moving equipment maker Tatra Udyog Ltd expects to report break-even early next year, the Managing Director, Mr R.I.S. Kahlon, said. The company expects to sell close to 250-300 units in the next financial year and garner a market share ... More

Acer bets on TabletPC to make new dents
ACER, one of the first vendors to collaborate with Microsoft for the TabletPC that recognises handwriting and voice, is hoping that the product will help it make dents in markets so far inaccessible to it. With competitors such as IBM and Dell ... More

PERFORMANCE

`15 Indo-German tie-up products in top league'
ACCORDING to a study by the Indo-German Chamber of Commerce, Indo-German collaborations were market leaders in 15 product groups in 2000-01, while nine companies occupied the second slot in their respective sectors. The review covered 36 ... More

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