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Wednesday, January 28, 2004

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ANNOUNCEMENTS
ECIL bags 2 orders for toll collection system
ELECTRONICS Corporation of India (ECIL) has announced the rollout of an electronic toll collection (ETC) system that has helped the company bag two orders worth Rs 4 crore from the Andhra Pradesh Transport Department and Rewa Toll Ways of Madhya ... More

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    BUYBACK
    H-P agrees to Rs 850 as exit price for Digital GlobalSoft
    HEWLETT Packard has accepted a final exit price of Rs 850 for each share of Digital Globalsoft Ltd, which it is buying back through a reverse book-building process in a bid to make it a 100 per cent subsidiary and de-list its shares. HP had ... More

    PREFERENTIAL ALLOTMENTS
    Calcutta Chem to redeem pref shares
    CALCUTTA Chemical Co (Calchemico) will redeem its preference shares issued 10 years ago. The company has decided to redeem 44,750 nine per cent cumulative first preference shares and 64,640 seven per cent cumulative second preference shares ... More

    Coromandel Fertilisers promoters allotted shares
    COROMANDEL Fertilisers Ltd (CFL) has informed the stock exchanges that it was informed by Murugappa Group, its promoters, that they have been allotted 24,23,519 equity shares amounting to 9.54 per cent of the expanded equity capital of CFL. The ... More

    RESTRUCTURING
    TN Petro completes debt-swap exercise
    TAMILNADU Petroproducts Ltd has just completed a debt-swap exercise that will save the company at least Rs 4 crore in interest costs next year. The company borrowed about Rs 115 crore at an interest rate of around nine per cent and closed the ... More

    NEW PROJECTS
    Reliance to set up 3500 MW gas-based power plant in UP
    RELIANCE Industries Ltd on Tuesday announced plans to set up the world's largest power plant in Uttar Pradesh, having a capacity of around 3500 MW. "The project will produce power at a cost of around Rs 2 per unit and will operate on domestic ... More

    Reliance UP project to generate power at `competitive price'
    RELIANCE's proposed 3500-MW project in UP is expected to generate power at a cost of Rs 2 per unit. This reveals a highly competitive price. For instance, NTPC has estimated that at current prices, its proposed gas-based capacity addition at ... More

    ALLIANCES & JOINT VENTURES
    Tata unit, Saba Soles in joint venture with Italian cos
    TATA International's leather division and Saba Soles have set up joint ventures with Italian companies in Tamil Nadu and Pondicherry respectively to manufacture soles for footwear. Tata's venture with Europlastica Moda is based at ... More

    INTERVIEW
    We may look at joint venture partners, says Anil Ambani
    Reliance has rarely taken a joint venture partner in its business ventures. The first exception was made in the case of the 4000 MW Hirma project where it teamed up with Mirant Corporation, US. Would Reliance rope in a partner to set up this ... More

    OUTLOOK
    Spartek plans major consolidation scheme — Expects to post turnover of Rs 140 cr next fiscal
    CLOSE on the heels of successfully obtaining a major corporate debt restructuring (CDR) package from the banks and financial institutions, Spartek Ceramics India Ltd, the Chennai-based ceramic tiles, granite and sanitaryware company, has now ... More

    Kennametal Widia hopes to make good `lost output' due to strike
    KENNAMETAL Widia India workers, who struck work at the plant here since January 2 have resumed work from January 24. The Managing Director, Mr Kumar Kanetkar, said the company expects to "make up the lost output in the time remaining to the end ... More


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