The Hindu Business Line : Saturday, August 20, 2005

VST Ind declares dividend of Rs 12.50/ share
VST Industries Ltd has declared a dividend of Rs 12.50 per share (125 per cent inclusive of 60 per cent Platinum Jubilee Dividend) for the financial year ended March 31. The company informed the BSE that the members at the 74th Annual General ... More

Colgate-Palmolive's Baddi facility goes on stream
COLGATE-Palmolive (India) Ltd's toothpaste manufacturing facility at Baddi in the Solan district of Himachal Pradesh is now fully operational and has commenced commercial production, said a company release today. Colgate-Palmolive has invested ... More

Shantha Biotechnics unveils 4-in-1 vaccine
SHANTHA Biotechnics Ltd has launched a four-in-one vaccine for diphtheria, tetanus, pertussis and hepatitis-B for children. Shantetra, the combination vaccine, would reduce the number of pricks from six to three and trips to doctors for the ... More

L&T bags contracts worth Rs 340 crore in Dubai project
LARSEN & Toubro Ltd has won contracts worth Rs 340 crore in the Rs 450-crore project of a United Arab Emirates-based company for building a residential property in Dubai. The rest of the amount would be the value of works to be executed by ... More

Asia CRYO-CELL to set up stem cell therapy centre
ASIA CRYO-CELL Pvt Ltd, a private cord blood bank, plans to invest over Rs 50-60 crore in a stem cell therapy centre, a public cord-blood bank and in expanding its facilities. Addressing a press conference here on Thursday, Mr S. Abhaya Kumar, ... More

PFC to pay Rs 75 cr final
POWER Finance Corporation (PFC) Ltd has declared a final dividend of Rs 75 crore for 2004-05. Thus, it has paid the total dividend of Rs 385 crore for 2004-05. A dividend cheque of Rs 145.24 crore was presented to Mr P.M. Sayeed, Union ... More

Reliance Energy allots shares for issue of GDRs
RELIANCE Energy Ltd's committee of directors on Friday allotted 22,86,224 equity shares for issuance of 7,62,075 global depository receipts (GDRs). This arose out of the conversion of foreign currency convertible bonds issued by the company on ... More

PREFERENTIAL ALLOTMENTS

Arihant to raise capital for land banks
ARIHANT Foundations & Housing Ltd plans to raise fresh capital to create land banks in Chennai. Mr Navratan Lunawath, Chairman and Managing Director, Arihant Foundations & Housing Ltd, said that the company has over six million sq ft of ... More

OVERSEAS BORROWINGS

Shanthi Gears board clears FCCB issue
THE board of directors of Shanthi Gears Ltd at their meeting on Friday decided to issue FCCBs (foreign currency convertible bonds) up to $15 million to fund the company's expansion programme. The company has convened an EGM on September 23 to ... More

ENVIRONMENT

Kerala PCB orders closure of Coke unit
THE State Pollution Control Board has ordered the closure of Coca-Cola's unit at Plachimada in Palakkad district on the ground that it is causing serious environmental problems. The closure notice, issued on Friday, has cited a slew of reasons ... More

MERGERS & ACQUISITIONS

`More overseas acquisitions by domestic cos in July'
EIGHT domestic firms acquired overseas firms while only two overseas firms could lay their hands on Indian companies of the 10 deals of mergers and acquisitions (M&As) involving domestic firms in the month of July, according to the Associated .. More

NEW PROJECTS

Neelachal Ispat plans IPO to fund Rs 800-cr expansion
NEELACHAL Ispat Nigam Ltd (NINL) is planning an IPO to finance its Rs 800-crore expansion plan. While the size of the IPO is yet to be finalised, MMTC sources said that the company was planning to raise Rs 250 crore equity capital. The issue ... More

ALLIANCES & JOINT VENTURES

Zee Tele in pact with IBM Global
ZEE Telefilms Ltd and IBM Global Services India Ltd have entered into an agreement to develop end-to-end digital media asset management solutions. This initiative is expected to take about 12 months of implementation and integration at Zee ... More

OUTLOOK

RCF looking at developing IT park on surplus land
AS more and more corporates in Mumbai sell off their properties to fill their kitty, Rashtriya Chemicals and Fertilizers (RCF) is seeking to do it differently. The Rs 2,800-crore PSU has plans to appoint a consultant to develop its property ... More

Same Deutz to import tractors for re-exports
ITALIAN tractor maker Same Deutz-Fahr has decided to import high power tractors in completely knocked down (CKD) forms in India for further exports. The company has its manufacturing facility at Ranipet in Tamil Nadu where the imported ... More

Tata Steel, Jharkhand to sign land lease renewal pact today
It has now been agreed to renew most of the original land given on lease to Tata Steel on the original terms and conditions for a period of 30 years. More

PERFORMANCE

Soaring global oil prices — Essar Oil cuts supplies to franchisees
When contacted, an Essar Oil spokesperson confirmed that the company was compensating its franchisees, but refused to share details of the agreement. More

TRENDS

Rise in number of companies registered in April
THE month of April 2005 saw an increase in the number of companies registered under the Companies Act when compared with the same period last year. The number of companies registered during the month stood at 4,083 against 3,183 registered in ... More

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