The Hindu Business Line : Tuesday, October 07, 2003

Jaiprakash Ind to pay 15% interim
NEW DELHI: The board of directors of Jaiprakash Industries Ltd have declared an interim dividend of 15 per cent for the financial year 2002-03. A communiqué from the company to the Bombay Stock Exchange said that the interim dividend ... More

Hyundai plans to double capacity at TN facility
FACED by a capacity constraint following increased demand from the domestic and international markets for the Santro Xing, Hyundai Motor India is planning to spend about $200 million or Rs 1,000 crore in a bid to double capacity at its facility ... More

Orchid bulk drug unit gets EU nod
ORCHID Chemicals & Pharmaceuticals announced on Monday that its bulk drug manufacturing facilities located at Alathur, near Chennai, have been successfully inspected by the European Directorate for Quality of Medicines (EDQM) and Medicines and ... More

PRIVATE PLACEMENT

Satyam offloads 1-m Sify shares in pvt placement
TO further slash its overall holding in Satyam Infoway Ltd (Sify), Satyam Computer Services Ltd has completed the sale of one million equity shares on a private placement basis through the company-sponsored American Depository Shares (ADS) for an ... More

GENDER

2 Indian women make it to Fortune's 50
MS VIDYA Manohar Chhabria, Chairperson of the $2-billion Jumbo Group, and Ms Naina Lal Kidwai, Vice-Chairman and Managing Director, HSBC Securities and Capital Markets (India) Pvt Ltd, are the two women from India to figure in the list of top-50 ... More

CREDIT RATING

Crisil rating upgrades exceed downgrades
CRISIL Ltd has reported that upgrades of corporate ratings were four times as many as the number of downgrades during the first half of fiscal 2003-04. According to the agency's ratings roundup for the six months ended September 30, 2003, the ... More

RESTRUCTURING

Veronica Labs to expand capital base
REALIGNING its business strategy, Mumbai-based Veronica Laboratories Ltd (VLL) plans to expand its capital base and become debt-free. The company would convert unsecured loans aggregating Rs 3.5 crore into equity as per the guidelines of the ... More

HEG completes textile divestment
GRAPHITE Electrodes manufacturer HEG Ltd has completed the divestment of its textiles business located at Rishabdev in Rajasthan. The Rishabdev textile unit, which has been demerged with effect from April 1, has now been merged with Rajasthan ... More

MERGERS & ACQUISITIONS

Accel to buy Transmatic
The company would also make an open offer for an additional 20 per cent of the shares of Transmatic Systems. The whole process is to be completed by February next year. More

ALLIANCES & JOINT VENTURES

Rabo India to ink debt swap deal with Dynamix
In the event of Schreiber infusing addition equity of Rs 35 crore, its share in Dynamix would rise to above 51 per cent. This would make Schreiber the largest shareholder in the firm. More

Australian co ties up with Franchise India
THE burgeoning Indian franchising industry, estimated at about Rs 10,000 crore, is now beginning to attract global attention. The Australia-based franchising consultancy, Innovation 360, has entered into a strategic alliance with the ... More

SICK UNITS

Union to submit revival plan for Hind Antibiotics
THE Mazdoor Sangh of Hindustan Antibiotics Ltd is to submit a memorandum of understanding (MoU) to the Board for Industrial and Financial Reconstruction (BIFR) on October 13 with a scheme for the revival of the company. The BIFR had issued ... More

OUTLOOK

Everest Ind pins hopes on good monsoon
EVEREST Industries Ltd (EIL), an ACC subsidiary, has registered 16 per cent growth in sales volumes of fibre cement products at 1.55 lakh tonnes during the April-September 2003 period, according to Mr Manish Sanghi, Executive Director ... More

PERFORMANCE

Tata Steel H1 output up 10 pc
TATA Steel has produced 2.01 million tonne of saleable steel during the first half of this fiscal, higher by 10 per cent over the year-ago period when it produced 1.83 million tonne. The company said it has created history by producing more ... More

PEOPLE

Top-level changes at LG
THE Korean electronics and durables major, LG Electronics India Pvt Ltd (LGEIL), has seen top-level changes once again. Close on the heels of recasting its top deck and splitting the portfolio of heads of sales and marketing, the company on ... More

New Toonz Animation chief
THIRUVANANTHAPURAM: The Thiruvananthapuram-based Toonz Animation India Pvt Ltd has announced the appointment of Mr P. Jayakumar as the company's Chief Operating Officer. He was, till recently, the company's Director-Operations, a ... More

B.N. Singh is new Jindal Vijaynagar CEO

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