The Hindu Business Line : Saturday, September 21, 2002

Hyundai pulls the plug on IPO plan
THE current bear phase in the stock markets marked by extreme volatility and unpredictability has claimed what probably could be one of the first casualties in the initial public offering (IPO) market. Hyundai Motor India Ltd (HMIL), the ... More

MK Electric systems for `green' buildings
MK Electric India on Friday launched its integrated intelligent building management systems (IBMS), which are aimed at helping organisations implement `green' building practices. Announcing this at a seminar organised by Confederation of Indian ... More

Burn Standard may launch revised incentive scheme
THE ailing Burn Standard Co Ltd (BSCL), which had suspended its rather expensive incentive scheme, is planning to relaunch a revised scheme within this fiscal. The ailing company, which used to pay out nearly Rs 10 crore annually on account of ... More

KEC to start work on delayed MPEB project

MICO rolls out 100th machine

PRIVATE PLACEMENT

Opto may opt for debt route to fund acquisition
SENSORS maker Opto Circuits Ltd has decided to "go slow" on its proposed private placement to part-fund its acquisition. It could resort to debt from financial institutions (FIs) for such buy-outs, according to its Managing Director, Mr Vinod ... More

OVERSEAS BORROWINGS

`S&P move will impact borrowing cost for corporates'
GLOBAL rating agency Standard & Poor's decision to lower India's long-term rupee debt from investment grade to junk will impact the cost of borrowing of Indian corporates planning to tap overseas markets for debt resources, according to the ... More

DISINVESTMENT

February 28 deadline set for Coca-Cola disinvestment
THE Government has granted an extension of six months to Coca-Cola for fulfilment and completion of its disinvestment exercise in the Indian subsidiary, Hindustan Coca-Cola Beverages Pvt Ltd. The company, which was supposed to disinvest 49 per ... More

RESTRUCTURING

Siemens to divest metering business
SIEMENS Ltd has said it will divest its 26 per cent in Siemens Metering Ltd (SML) in line with its parent Siemens AG's global portfolio optimisation programme. The stake will be sold at a total consideration of Rs 25 crore, at about Rs 30.05 ... More

MERGERS & ACQUISITIONS

Vorin, Medicorp, Matrix boards okay merger plan
THE boards of Vorin Laboratories Ltd (VLL), Medicorp Technologies India Ltd (MTIL) and Matrix Laboratories Ltd (MLL), have approved the proposal to merge into a single entity - Matrix Labs. As per the scheme of amalgamation, Matrix would ... More

RPL-RIL merger formalised
THE merger of Reliance Petroleum Ltd with Reliance Industries Ltd became effective today. The company has completed formalities including filing of requisite documents under the Companies Act, 1956 with the Registrar of Companies in both ... More

NEW PROJECTS

CG Igarashi plans new plant — To develop appliances for domestic market
CG Igarashi Motors Ltd proposes to put up a new plant for manufacturing DC motors for the domestic market. The company intends to develop products - appliances such as vacuum cleaners, which would use DC micro motors instead of AC motors. ... More

ALLIANCES & JOINT VENTURES

ONGC, Reliance may oust Panna ally — Night of the long knives for BG?
THE stage is set for Oil and Natural Gas Corporation (ONGC) and Reliance Industries Ltd (RIL) to bring into force the termination notice to oust their joint venture partner, British Gas, from the operatorship of the Panna Mukta and Tapti oil and ... More

SICK UNITS

Traco heading towards BIFR net
TRACO Cable Company Ltd, a Kerala Government owned unit, is likely to enter the BIFR net by this year-end. Traco, which produces both power and jelly filled telephone communication cables, has been in the red for some time now with the company ... More

OUTLOOK

New furnace to improve Tata Steel efficiency
TATA Steel hopes to effect substantial improvements in efficiency and costing with the commissioning of its refurbished `F' blast furnace. A company release said that the furnace would produce one million tonnes per annum of hot metal. The ... More

ONGC sees profit rise on global crude spurt
OIL and Natural Gas Corporation (ONGC) is set to register a significant rise in profits on the back of the recent spurt in global crude prices besides its Crude Offtake and Supply Agreement (Cosa) with oil marketing companies which is nearing ... More

PERFORMANCE

TVS Motor turnover up 60 pc in April-Aug — To focus on R&D, cost cutting
TVS Motor Company Ltd achieved a turnover of Rs 1,094 crore in the first five months of the current year, as against Rs 682 crore in the same period last year, registering a 60 per cent growth, the company's Chairman and Managing Director, Mr ... More

Coal India nets Rs 1,754 cr
THE state-owned Coal India Ltd (CIL) has done well even in the recession-hit economy during the financial year ended March 2002. This has, in fact, been reflected in its balance sheet for the year under review, recently audited and cleared by the ... More

Scoreboard
SE Diary

Comments & Letters to the Editor to: bleditor@thehindu.co.in
Subscribe to: Business Line

Pick a Winner Stock Market Contest

How China is racing ahead in industry

A knee-jerk reaction, says CII chief

`Surplus' in banks even after VRS — SBI may come out with exit option

Make e-governance citizen centric, says Rangarajan

Cement, steel power core sector growth in April-Aug

In Depth
Gender Justice

Simple Economics

Small Investor

Looking back
Sep. 8-Sep. 14
`Tata Chem to retain equity investments in group cos'

Indian Hotels acquires Regent Hotel — Makes North Mumbai entry with Rs 452-cr deal

Gujarat HC approves RIL-RPL merger