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Tuesday, January 06, 2004

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RESEARCH & DEVELOPMENT
Sun Pharma to set up two new R&D units
SUN Pharmaceutical Industries Ltd is planning to add two new research and development (R&D) facilities in Mumbai and Baroda and will increase its expenditure to Rs 75 crore next fiscal from the current Rs 45 crore. Speaking to newspersons on ... More

ANNOUNCEMENTS
Suven Life Sciences EGM clears sub-division of shares
SUVEN Life Sciences Ltd has informed the stock exchanges today that its shareholders at the extraordinary general meeting held on Monday have approved the sub-division of equity shares into face value of Rs 2 each from the face value of Rs 10 ... More

Wockhardt files new drug application
WOCKHARDT Ltd has filed an Investigational New Drug (IND) application for its new drug for respiratory infections, WCK-1152. According to Mr Habil Khorakiwala, Chairman of the company, after this the Phase I trials of the drug can be ... More

Elder board approves GDR/FCCB issue
ELDER Pharmaceuticals plans to issue GDRs up to $15 million or foreign currency convertible bonds up to $15 million or a combination of both. At a board meeting held here on Monday, the company board has decided to issue the GDR subject to ... More

L&T bags $30-m order in UAE
LARSEN & Toubro has won an order worth $30 million from the gas gathering and processing company, GASCO in the United Arab Emirates, which is a part of the ADNOC group. The contract is for upgrading facilities at the client company's Bu Hasa ... More

Post-demerger cement biz — L&T's paid-up capital to go down to Rs 25 cr
LARSEN & Toubro's scheme of arrangement for demerger of its cement company entails diminution of the paid-up equity capital of the company from nearly Rs 250 crore to around Rs 25 crore, with the face value of the share reduced from Rs 10 to Re . More

PREFERENTIAL ALLOTMENTS
IHCL to seek shareholders' nod to raise funds
INDIAN Hotels Company Ltd (IHCL) is holding an extraordinary general meeting on January 27 to seek shareholders' approval to raise through issue of securities, long-term funds not exceeding $150 million. It also plans to issue cumulative ... More

IVRCL shareholders okay preferential offer
IVRCL Infrastructures & Projects Ltd has informed the bourses that its shareholders have approved the preferential offer of 80 lakh equity shares of Rs 10 each to CVC International (40 lakh shares) and ChrysCapital II (40 lakh shares) and their . More

NCCL to issue preferential shares
NAGARJUNA Construction Company Ltd (NCCL), which is executing various infrastructure projects, has decided to issue 20 lakh equity shares on preferential basis and 5 lakh warrants to the company promoters for investing in its build, operate and ... More

  • Rallis to raise Rs 90 cr through pref shares

    COURTS/LEGAL ISSUES
    Amway comes under scanner of Drug Control authorities
    AMWAY India, wholly-owned subsidiary of the US-based Amway Corporation, has been caught in a controversial situation. The company has, for the second time, come under the scanner of the Drug Control Authority at least in one state - Kerala ... More

    IPR
    TVS Motor seeks to patent new engine technology
    TVS Motor Company has sought a patent for the technology it has developed for its latest vehicle, the TVS Centra. The engine technology, which the company calls `VTi' (for variable timing intelligent), has three components in it — friction ... More

    RESTRUCTURING
    Haldia Petro's debt recast exercise in final lap
    THE corporate debt restructuring (CDR) exercise of Haldia Petrochemicals Ltd (HPL) entered the final lap with a meeting being held between the heads of two of HPL's key promoters and the lead financial institutions. Talking to Business ... More

    MERGERS & ACQUISITIONS
    NCL Seccolor merged with Alltek Coating
    NCL Seccolor Ltd (NSL), a sick company engaged in manufacture of cold rolled steel profiles for windows, doors and partitions, has been amalgamated with Alltek Coating Products Ltd (ACPL), a closely held unlisted company engaged in the ... More

    Aurobindo Pharma promoter sells 1.4 pc stake
    AUROBINDO Pharma Ltd, Ms P. Suneela Rani, has sold 6,80,000 equity shares of Rs 5 each of the company, constituting 1.4 per cent of equity of its current paid-up equity of Rs 24.2 crore. These shares were sold in the open market from December ... More

    NEW PROJECTS
    ONGC board okays Rs 900-cr investment in extraction plant
    THE board of Oil and Natural Gas Corporation has approved a proposal to invest Rs 900 crore in a five-million-tonne C2-C3 extraction plant. The plant, to be located in the special economic zone of Dahej, Gujarat, will extract methane (C2) and ... More

    TVS Motor plans 2 units in Asean region
    TVS Motor Company plans to set up two production centres in the Asean region — rather than only one, as announced earlier. The company's Chairman and Managing Director, Mr Venu Srinivasan, told Business Line on Monday that the ... More

    SICK UNITS
    BIFR gives Vadilal time to reach agreement with secured creditors
    THE Board for Industrial & Financial Reconstruction has directed the ailing Vadilal Dairy International Ltd (VDIL) and its secured creditors to arrive at an agreement on their dues within a stipulated time. In case an agreement is arrived at, the More

    Delay in debt revamp plan holds up Duncans' recovery
    STATE Bank of India is yet to clear the debt restructuring programme of the ailing Duncans Industries Ltd. As a result, the company is unable to reopen its fertiliser unit, finalise its accounts or sell any of its tea gardens. According to ... More

    OUTLOOK
    Tata Group to focus on global biz this year
    ``This year we will also be focusing on expanding our business internationally. This will demand that our products and services are globally competitive and that our enterprises operate to international standards in terms of quality and customer ... More

    Strike not to impact Kennametal profit for now, says MD
    KENNAMETAL Widia India Ltd's topline and profit are not likely to be affected if the workers who have struck work in the company's Bangalore plant return to their duties soon, the Managing Director, Mr Kumar Kanetkar, has said. "It's too ... More

    Valji eyeing TN, Kerala markets
    THE Mumbai-based Valji Group, a major player in school uniform fabrics, plans to enter the Tamil Nadu and Kerala markets by strengthening its distribution network this year. The company has plans to market its uniform fabric brand, Darshan's ... More

    PERFORMANCE
    Eicher posts 52% increase in December sales
    EICHER Motors Ltd (EML) has recorded its highest ever month sale of 1,656 commercial vehicles in December 2003 - an increase of 52 per cent over 1,093 units in December 2002, the company said in a statement on Monday. The cumulative ... More

    Tata Motors sales up 67 pc in Dec
    TATA Motors today reported a 67.3 per cent rise in total sales (including export) for December 2003 to 26,253 vehicles, as against 15,695 vehicles in the previous corresponding year. Sales for the April-December period was up 47.5 per cent at ... More


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  • Top Stories
    Amway comes under scanner of Drug Control authorities


    Tata Group to focus on global biz this year

    TVS Motor plans 2 units in Asean region

    CAS: The fading picture

    Indian BPOs to capture 56 pc share: ICRA

    `Change in definition of resident status will hit IT professionals'

    FCI scheme may push up wheat price

    Bank reform and the rural sector

    Looking back
    Dec. 28-Jan. 3
    Electrolux chalks out advt, product strategy

    `Stock market is a buffet waiting to be relished'

    SAIL breaks sales, production records


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