CORPORATE
ANNOUNCEMENTS
MFL to lease out biofertiliser units
MADRAS Fertilizers Ltd (MFL) hopes to exploit the assets and expertise available with it to add value. According to the MFL Chairman and Managing Director, Mr Sukumar N. Oommen, the company plans to `outsource its facilities,' for better value ...
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New-look Grand Ashok hotel to be ready by April
BY April 2005, after three years of phase-by-phase renovation and changes, The Grand Ashok, Bangalore, will have acquired a completely new look. Mr Jagmohan Misra, Vice-President, The Grand Ashok, says that the entire revamp cost for the ...
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SCI pays Rs 90-cr interim to Govt
SHIPPING Corporation of India (SCI) on Wednesday presented a cheque for Rs 90 crore to the Government as interim dividend for 2004-05. The dividend cheque was presented to Mr T.R. Baalu, Union Minister for Shipping, Road Transport & Highways, ...
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ACCOUNTING STANDARDS
Balance sheets to sport new look with revised disclosure norms
There will be only vertical form of balance sheet in the revised schedule VI.
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PREFERENTIAL ALLOTMENTS
Suzlon raises Rs 100 cr
PUNE: Suzlon Energy Ltd has raised Rs 100 crore through issue of equity and convertible preference shares to ChrysCapital. Suzlon had earlier raised Rs100 crore from CVC International in April 2004. In a statement issued here today, Mr ...
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MERGERS & ACQUISITIONS
Coimbatore industrialist bags Standard Motors property
A COIMBATORE-based industrialist Mr T.S.R. Khannaiyann has succeeded in clinching the bid for the purchase of the assets of Standard Motor Products of India Ltd, for a price of Rs 140 crore. Mr Justice K. Raviraja Pandian, who perused the ...
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NEW PROJECTS
E.I.D. Parry to set up sanitaryware unit, integrated sugar complex
E.I.D. Parry Ltd, part of the Murugappa group, will invest over Rs 200 crore to set up a sanitaryware facility in south India and an integrated sugar complex at its sugar mill in Pudukkottai, Tamil Nadu. The company has informed the stock ...
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ALLIANCES & JOINT VENTURES
Panacea ties up with Chiron
THE New Delhi-based Panacea Biotec Ltd has entered into a joint-venture with the UK-based Chiron Vaccines to provide new generation combination vaccines. Chiron Panacea Vaccines, the 50:50 joint-venture company, will get operationalised on a ...
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OUTLOOK
Volvo may make construction equipment in India
THE $30-billion Volvo group is planning to manufacture construction equipment in India. Though the advantages of setting up shop at its existing facility at Hosakote in Karnataka have been stressed, the company has said it is open to exploring ...
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Ford considering diesel version of Fusion — To expand dealer network
CONTINUING the roll-out of the Ford Fusion crossover, the recently unveiled Urban Activity Vehicle, Ford India is exploring the possibility of launch of a diesel variant of this vehicle sometime next year and plans to produce 500 more recently ...
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QRG targets Rs 1,000-cr turnover
HYDERABAD: The Rs 900-crore QRG (Qeemat Roy Gupta) group, promoters of various companies including Havell's India and Standard Electricals Ltd (SEL), has targeted a turnover of Rs 1,000 crore in the current fiscal and Rs 1,500 crore next ...
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PERFORMANCE
Steel Secretary lauds VSP
THE Visakhapatnam Steel Plant has come a long way and emerged as one of the finest steel companies in the country, said the Union Steel Secretary, Dr Manoranjan. He was speaking at the steel plant on Wednesday after releasing the corporate ...
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PEOPLE
New COO for Suven Life USA
HYDERABAD: Suven Life Sciences Ltd (SLSL), the Hyderabad-based collaborative research company, has announced that it has hired Mr Nayan Nanavati, a senior executive of the US-based Paraxel Corporation, a global contract research ...
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TRENDS
Bhakta persuaded to reconsider resignation from Reliance board
THE Chairman of Reliance Industries, Mr Mukesh Ambani, has persuaded senior director on the board of the company, Mr M.L. Bhakta, to reconsider his resignation of Tuesday, according to a news release issued by Reliance on Wednesday. "I cannot ...
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