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Wednesday, March 23, 2005

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PREFERENTIAL ALLOTMENTS


Merven Drug shareholders okay pref allotment
THE shareholders of Merven Drug Products Ltd (MDPL), the Hyderabad-based pharma company, at their extraordinary general meeting (EGM) held here on Tuesday have approved preferential allotment to various investors. The members have approved ... More

MERGERS & ACQUISITIONS


Mallya to merge spirits cos, SWC as United Spirits
THE United Breweries group Chairman, Mr Vijay Mallya, is poised to merge his entire spirits interests, including the just acquired Shaw Wallace & Co (SWC), under the banner of United Spirits, and is looking at unlocking value mostly through the . More

SWC-Modi issue: High Court stays UB, Jumbo deal
THE deal between Vijay Mallya's UB Group and the Jumbo World Holdings' Shaw Wallace & Co, which was struck on Monday, was stayed by Mr Justice Kalyan Jyoti Sengupta of the Calcutta High Court on Tuesday. Mr Justice Sengupta passed an interim ... More

Restructuring to be over in 6 months: Mallya
THE clincher was the strategy of the open offer. It eliminated other competition for Shah Wallace. And then the SEBI timings in terms of compliance with open offer requirements helped in putting a sense of urgency, which ultimately got it done," ... More

Ucal Fuel may buy US co
UCAL Fuel Systems plans to acquire a US-based auto ancillary company. Its board of directors will meet on March 25 to consider a proposal to acquire this company, Ucal Fuel has said in a communication to the stock exchanges. However, the ... More

CORPORATE GOVERNANCE


SEBI board meet today to discuss revised corporate governance norms
THE board meeting of the Securities and Exchange Board of India scheduled for Wednesday gains significance as it is expected to discuss the contentious issues surrounding the revised Clause 49 of the Listing Agreement outlining the corporate ... More

NEW PROJECTS


Eveready to set up battery unit in Uttaranchal
THE newly-restructured Eveready Industries India Ltd, the flagship company of B.M. Khaitan Group, today announced setting up of a greenfield battery factory in Uttaranchal. The announcement was made by Mr Deepak Khaitan, Vice-Chairman and ... More

LG's GSM plant begins operations in Pune
THE country's first GSM plant for making mobile handsets from the house of LG Electronics started operations in Ranjangaon near Pune on Tuesday. LG Electronics India Ltd (LGEIL), the Indian subsidiary, is set to hit the domestic market with ... More

OUTLOOK


Dabur evaluates private label business for toothpastes
BARELY two months after acquiring Balsara's oral care brands, Dabur India Ltd is scouting for opportunities in the private label business for toothpastes. Private label business will allow Dabur India (DIL) to manufacture toothpastes for ... More

JK Industries sees 10% growth in turnover
JK Industries on Tuesday said it expects a 10 per cent topline growth during the current fiscal, ending September 30. "The tyre market in the country is growing while the price of the product has been coming down. Based on this, we expect a ... More

Bescom hopes to raise revenue by 11 pc
Bescom, one of the distribution companies taken up for study based on 22 performance based parameters, was ranked first. More

TRENDS


Cash crunch: MFL stops producing complex fertilisers
MADRAS Fertilizers Ltd (MFL) has stopped producing complex fertilisers due to cash crunch following delay in release of subsidy by the Fertiliser Ministry, according to MFL officials. MFL continues to source feedstock on credit from Chennai ... More
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