CORPORATE
ANNOUNCEMENTS
SRMB Udyog mulls replacement of construction bar range
HAVING introduced the indigenously designed X-Rib pattern TMT (thermo mechanically treated) bars in the market, SRMB Udyog Ltd is now toying with the idea of replacing its existing production range of TMT bars with the X-Rib pattern TMT bars over ...
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ACCOUNTING STANDARDS
ICAI revises accounting standard on employee benefits
THE Accounting Standards Board of the Institute of Chartered Accountants of India (ICAI) has issued an exposure draft of revised Accounting Standard-AS 15, Employee Benefits. While the existing accounting standard (AS 15), which was issued in ...
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Diligent auditors can prevent scams, says Minister
SOME stock market scams could have been perhaps avoided if company auditors were more diligent, according to Mr Prem Chand Gupta, Minister of State for Company Affairs. "Personally I feel if our auditor friends were more careful, perhaps the ...
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ICSI guidance note on co board report
THE Institute of Company Secretaries of India (ICSI) has formulated a guidance note on `board report' of a company. The board reports enable shareholders, lenders, bankers, and the Government to make an appraisal of the company's performance. ...
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COURTS/LEGAL ISSUES
Matrix Labs gets more time to hold AGM
KEEPING in view the time expected for obtaining the approvals of the Andhra Pradesh High Court for the proposed scheme of amalgamation of four companies with itself, Matrix Laboratories Ltd (MLL) has sought and obtained three months extension for ...
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MERGERS & ACQUISITIONS
3 Philips group cos to merge
PHILIPS announced on Tuesday that it was consolidating its operations in India by merging three group companies operating in the country. Philips India Ltd (PIL), Philips Medical Systems India Pvt Ltd (PMSI) and Philips Software Centre Pvt Ltd ...
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UK travel co to pick 50 pc stake in Friends Globe
AN UK-based multinational travel company is investing Rs 100 crore for a 50 per cent stake in the New Delhi-based Friends Globe Travels, according to Mr Rahul Nath, Country Manager and CEO, Friends Globe Travels Ltd. Mr Nath said that the UK ...
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REGULATORY BODIES & RULINGS
Unique ID number extended to corporates
The exercise would now bring over 60,000 corporate investors under SEBI's Central Database of Market Participants Regulation.
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INTERVIEW
`We hope to be back in black by this fiscal-end'
THE state-owned tractor-to-watchmaker HMT Ltd has been in red for a while. Straddled with huge debt, the company has chalked out a plan to bounce back to black through several new initiatives. Business Line spoke to the Chairman and ...
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SOCIETY & DEVELOPMENT
Global fund for AIDS calls for more corporate proposals
TATA Steel's proposal to extend its HIV/AIDS programme from its workforce to the community in Jamshedpur was not able to avail itself of funds from the Global Fund to fight AIDS, tuberculosis and malaria - despite the merits of the proposal. ...
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PERFORMANCE
Ashok Leyland's Aug domestic sales down
ASHOK Leyland reported lower domestic sales in August over the same month last year. It sold 3,440 vehicles last month compared with 3,718 in August 2003. The company's Managing Director, Mr R. Seshasayee, attributed the decline to production ...
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Tetley cuts debt equity ratio
THE Tetley Group Ltd, which was acquired by Tata Tea four years ago, has substantially improved its financial position to end 2003-04 with a debt equity ratio of 1.3:1. In 2000, when the Tatas acquired the Tetley Group for £271 million , its ...
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PEOPLE
Top-level appointments mark Sanofi-Aventis post-acquisition scene
THE first significant signs of the global acquisition of Aventis by France's drug company Sanofi are emerging, with Sanofi-Aventis announcing the appointment of about hundred managers in more than 70 countries. In India, Mr Alexandre de ...
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TRENDS
Corporates take to `radio frequency identification'
TRUE, Indian consumers will have to wait a good seven to eight years to enjoy the benefits of Radio Frequency Identification (RFID) technology. But the corporate world may taste the fruits earlier. Already there is evidence that the corporate ...
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Dabur greenhouse in Nepal Maoist list
DABUR India Ltd (DIL) said the Banepa greenhouse operations of Dabur Nepal have found a mention in the fresh list Maoist rebels released on Tuesday asking business houses to suspend operations. Dabur Nepal has a greenhouse operation in Banepa ...
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