PREFERENTIAL ALLOTMENTS

COURTS/LEGAL ISSUES
US court asks MEN to pay $2.4 m to ESPN
A US court has asked Modi Entertainment Network (MEN) to pay $2.4 million to ESPN Software India Pvt Ltd for non-payment of distribution revenues during the last four months of the distribution agreement between June-September 2000. MEN had ... More

FINANCIAL PERFORMANCE
India Inc posts robust profit growth — Good tidings for steel, banks, textiles, auto
IT has been the second successive year of robust growth in profits for India Inc if the financial performance of the first 300 companies is any indication. Aggregate net sales and aggregate net profit of these companies have grown by 19 per cent ... More

CORPORATE BONDS

RESTRUCTURING
To seek shareholders' nod for scheme of arrangement — Khaitan Electricals meet on May 8
KHAITAN Electricals Ltd (KEL) has convened a general meeting of its shareholders on May 8 here to seek their approval for the proposed scheme of arrangement with Khaitan India Ltd (KIL) and Khaitan Lefin Ltd (KLL). The decision follows a ... More

NEW PROJECTS
Relisys Medical to set up catheter facility
EYEING a huge demand for catheters (which are used in various heart procedures), Relisys Medical Devices is setting up Asia's first catheter manufacturing facility near here. "About 20,000 angiographic procedures are done every month in India, ... More

DIVERSIFICATION
KRL plans to revive power project
KOCHI Refineries Ltd plans to revive the power project, which it had shelved when the Electricity Act became a major stumbling block. Addressing a joint press conference, Mr S. Behuria, Chairman, and Mr B.K. Menon, Managing Director, said now ... More

OUTLOOK
Indal to go ahead with plans to strengthen operating base
CONSIDERING that both domestic and international aluminium markets will show positive signs of demand growth in the months ahead, Indian Aluminium Company Ltd (Indal), a wholly-owned subsidiary of the Aditya Birla group, has decided to move ahead ... More

Sony India aims to achieve Rs 1,100-cr turnover
SONY India Pvt Ltd is planning to achieve a turnover of Rs 1,100 crore in the current financial year, according to Mr Muneesh Dhawan, Regional Manager, South. He was here to inaugurate the 54th outlet of "Sony Exclusive" in the country. The ... More

Hyundai shelves launch of Carens
HYUNDAI Motor India has decided to shelve the launch of Carens, the mini-multi purpose vehicle from its associate company, Kia Motors. The company's President, Mr B.V.R. Subbu, told Business Line that Carens did not fit its plans. "Based ... More

Alfa Laval draws expansion, merger plan; to pay 50% final
EXPANSION plans, good order bookings, taking over fabrication factories and merger of its subsidiary Skansen Engineering and Consultancy Company Ltd, is how the Pune-based Alfa Laval (India) Ltd has chalked out its course for the current calendar ... More

PERFORMANCE
Maruti sales up 38.4% in April
LEADING car manufacturer Maruti Udyog has announced a 38.4 per cent increase in its sales in April to 39,838 units. This includes 2,910 units of exports. The company had sold 28,793 vehicle units in April 2003. The sales impetus was primarily ... More

Honda Siel sales increase 117 pc
HONDA Siel Cars India Ltd has announced a 117.3 per cent increase in sales during April 2004. It sold a total 2,793 units of City, Accord and CR-V models up from 1,285 units sold during the corresponding month last year. The company's new City ... More

Hero Honda sales up 46 pc in April
TWO-wheeler major Hero Honda has announced a 46 per cent increase in sales in April 2004 to 1,96,024 units from 1,34,318 units in the same month last year. The company also said that the Hero Honda CD-Dawn crossed the 5-lakh sales mark in the ... More

Bajaj Auto sales rise
BAJAJ Auto Ltd has recorded a 27 per cent increase in motorcycle sales at 90,532 units in April 2003. In the premium segment, the Pulsar twins recorded a sale of 23,511 units (15,771 units), a growth of 49 per cent. In the three-wheeler ... More

PEOPLE
Deputy CAG nominated to ICAI panel
THE Union Government has nominated Mr S. Sathyamoorthy, Deputy Comptroller & Auditor General, to the disciplinary committee of the Institute of Chartered Accountants of India (ICAI). Informed sources said that the nomination had been done by ... More