The Hindu Business Line : Friday, February 01, 2002

Bajaj Auto not keen on selling ICICI stake
BAJAJ Auto (BAL), which holds a sizable equity stake in ICICI Ltd, has not officially informed the financial institution of any intent to dilute its shareholding. BAL, which picked up a five per cent equity stake in ICICI a couple of years ago, ... More

CORPORATE DISPUTES

Delhi HC rejects ModiCorp plea on VSNL divestment
THE Delhi High Court has rejected the petition by Modi Corporation seeking a stay on the disinvestment of Videsh Sanchar Nigam Ltd (VSNL), thereby giving the green signal to the Ministry of Disinvestment for inviting financial bids for 25 per ... More

RESTRUCTURING

Shasun Chem board okays hiving off Pondy unit
THE board of directors of Shasun Chemicals and Drugs Ltd on Thursday cleared the management's proposal for hiving off its Pondicherry unit, manufacturing ibuprofen, into a separate joint venture company with a foreign drug major. Mr S. Vimal ... More

MERGERS & ACQUISITIONS

PSI Data acquires Birla Technologies
With this acquisition, the IT sector within the Aditya Birla Group was positioned to become a more focused business under a single umbrella. More

Torrent sells 50% stake in Sanofi venture to partner
TORRENT Pharmaceuticals (TPL) has divested its 50-per cent stake in Sanofi Torrent Synthelabo Ltd (STSL) in favour of its joint venture partner, Sanofi Synthelabo, for a consideration of $5.31 million. In a related deal, STSL would buy the ... More

Pharmacia to buy 51.5 pc stake in Abbott India
PHARMACIA Corporation is set to acquire 51.5-per cent stake of Abbott Laboratories in Abbott Laboratories India Ltd. The deal is expected to be in the range of Rs 60 crore-65 crore, according to sources. Pharmacia will make an open offer for ... More

NEW PROJECTS

FIPB defers decision on Suzuki proposal
THE Foreign Investment Promotion Board (FIPB) on Thursday decided to defer a decision on Suzuki Motor Corporation's proposal to set up a two- and three-wheeler manufacturing facility in the country. Sources said that the Government had sought ... More

NIIT plans more centres in China
COIMBATORE: Computer training major, NIIT, is planning to strengthen its education network in China. The company, which has been operating pilot centres in China, enhanced its operation in partnership with six universities and three ... More

ICRA spreads wings to West Asia
CREDIT rating agency ICRA Ltd has identified what it has called the `Gulf Triangle', a group of three countries in West Asia, where it will enter into tie-ups with local partners. One of these is Kuwait, where it has already signed a MoU with ... More

TPL captive unit nearing completion
TAMILNADU Petroproducts Ltd.'s 20 MW captive power plant is nearing completion and is likely to go on stream this March, the company's Managing Director, Mr D. Arunachalam, has said. He told Business Line that the plant would result in a ... More

SkyCargo office
NEW DELHI: Emirates, the international airlines of the UAE, on Thursday inaugurated its new full-fledged SkyCargo office at the Cargo Complex, Indira Gandhi International Airport, here. The airline said the shift was undertaken due to ... More

ALLIANCES & JOINT VENTURES

Tata Steel logistics venture eyes west coast
TATA Iron & Steel Company proposes to start a logistics service in a big way. A beginning has already been made, with the company having joined hands with IQ Martrade & Holding GmbH of Germany and floating a new company TM International Logistics ... More

Apollo, Morepen tie up for emergency services
ON the lines of the 911 emergency services available in the US, the Apollo Hospitals Group and Morepen Laboratories Ltd have announced the launch of the national network of emergency services that could be availed of by dialling 1066. The ... More

Wipro ties up with Rational for software testing
WIPRO Technologies on Thursday announced that it has tied up with Rational Software Corporation India Ltd to set up a centre of excellence (CoE) for developing proof of concept and demonstration for software testing for new and existing clients ... More

Swiss cos keen on Indian market
SWISS companies have shown interest in collaborative ventures with Indian entrepreneurs in areas such as environmental technology, food processing, packaging and engineering, in which the Swiss entrepreneurs excel. Describing India as a market ... More

OUTLOOK

Balaji Tele sees 50 pc bottomline growth
TELEVISION software producer, Balaji Telefilms Ltd (BTL), is expecting to achieve a 30-per cent topline and a 50-per cent bottomline growth in the 2002-2003 fiscal. Though these targets are relatively modest when compared to the company's ... More

PEOPLE

Jet hires KLM man
JET Airways has appointed Mr K.B.F. Steller, a Dutch national, as Executive Vice-President (Commercial) to look after different aspects of the airline's work, including passenger and cargo sales, in-flight services and catering. Mr Steller was ... More

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