The Hindu Business Line : Saturday, February 26, 2005

Asahi plans to invest Rs 62 crore more in Chennai facility
WITH the first phase of its automotive glass manufacturing facility going on stream near Chennai, Asahi India Glass Ltd plans to invest another Rs 62 crore in the facility in 2005-06, advancing the next two phases of its investment programme by a ... More

SPEL Semiconductor settles dues with IFCI
SPEL Semiconductor Ltd has arrived at a settlement with the last of its term loan lenders, IFCI. Under a one-time settlement scheme, the company will pay the financial institution Rs 2 crore. The company has paid Rs 25 lakh and expects to pay ... More

OVERSEAS BORROWINGS

Tata Power completes $200-m FCCB offering
TATA Power Company Ltd has completed the allotment of $200-million worth Foreign Convertible Currency Bonds (FCCBs) issue. These bonds will be listed on the Singapore Stock Exchange. Earlier this month, Tata Power had launched $200-million, ... More

ACCOUNTANCY

ICAI office-bearers

MERGERS & ACQUISITIONS

Eicher move to sell tractor, engine business to TAFE
EICHER Motors Ltd (EML) is exploring a proposal to sell its tractor and engine businesses to Tractors and Farm Equipment (TAFE). The proposal, if it goes through, would create the second largest tractor manufacturer in the country after Mahindra ... More

Tata Motors to take stake in Spanish co
TATA Motors is to acquire a 21-per cent equity stake in Hispano Carrocera S.A (HC), a Spanish bus manufacturing company, with an option to acquire 100-per cent holding. Tata Motors will have the licence for technology and brand rights from HC. ... More

Crompton Greaves buys Belgian co biz
CROMPTON Greaves has announced the acquisition of the transformer businesses owned by the Pauwels Group of Belgium for Euro 32.1 million (Rs 180 crore) on Friday. The acquired operations are located across Belgium, Ireland, Canada, the US and ... More

TAFE may become No 2 tractor company
TRACTORS and Farm Equipment Ltd, a part of the Chennai-based Amalgamations group, is set to become the second largest tractor manufacturer in the country if its proposal to take over Eicher Motor Ltd's tractor business goes through. "This will ... More

TAFE to get a toehold in North, Central India
TAFE's proposed acquisition of the tractor division of Eicher Motors, along with the latter's engines and gears manufacturing facilities could make the combined entity the second biggest tractor manufacturer in the country. The acquisition, if ... More

`Tata Motors should leverage Hispano's design capability'
THE "heart of the deal'' in Tata Motors' acquisition of a 21 per cent stake in Spanish bus manufacturer, Hispano Carrocera (HC), is the latter's in-house product development facility, Mr Ravi Kant, Executive Director, Tata Motors, said. ... More

FICCI protests SEBI move to curb promoters' holdings
THE amendment to the Takeover Code by SEBI, which seeks to bring down the ceiling on acquisition of shares through market purchases and preferential allotment from 75 per cent to 55 per cent for promoters of companies, has irked India ... More

CORPORATE GOVERNANCE

Premji's commission to be linked to incremental profits
IN what could be considered a trendsetter for Corporate India, soap-to-software maker Wipro Ltd has decided to link its Chairman's commission to the incremental net profits and not on the overall net profits as has been the practice so far. The ... More

NEW PROJECTS

Hikal to inaugurate pharma ingredients plant today
HIKAL Ltd will inaugurate on Saturday its Bangalore plant to make high-potency active pharma ingredients (HAPI). The plant will manufacture high-volume, small-dosage chemicals such as steroids for its international customers. The new plant, ... More

SICK UNITS

Manaksia plans upgrade to aid Kumar Metallurgical revival
HAVING been appointed the custodian-cum-agents of the ailing Kumar Metallurgical Corporation Ltd's secured assets, Manaksia Ltd, the Rs 1,000-crore Kolkata-based metal products major , is confident of reviving the sick entity at the ... More

OUTLOOK

Vestas RRB plans to set up units in Sri Lanka, Bangladesh
THE wind-electric generator manufacturing major, Vestas RRB India Ltd, is planning to make a foray in Sri Lanka and Bangladesh. A 51:49 joint venture between RRB Consultants and Engineers Pvt Ltd and Vestas Wind Systems A/S of Denmark, the ... More

Timken sees huge potential for bearings in Asia
INDIA, with its huge potential, could spur the anti-friction bearing giant Timken to look for acquisition to increase its market share in the country. However, the company would weigh the option only after analysing critical parameters — ... More

TRENDS

`Indian mid-cap firms most resilient to Chinese competition'
INDIAN mid-sized firms have weathered the Chinese onslaught better, as opposed to their counterpart in the Asia-Pacific region. According to Grant Thornton's International Business Owners Survey (IBOS) 2005, in which a section was devoted to ... More

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