The Hindu Business Line : Wednesday, April 23, 2003

Jindal Strips aims to cut debt, raise capacity
JINDAL Strips Ltd (JSL) has chalked out a capital expenditure of Rs 125 crore for the 2003-2004 fiscal, which is to be used mainly to hike melting capacity to 500,000 tonnes and upgrade the steckel mill to roll higher weight coils of 15 ... More

ANNOUNCEMENTS

`Tailor-made' drugs in the making
INDIANS can in the near future hope to experience the benefits of `personalised medicine' with `signature drugs' and `guided missiles' acting on an individual's ailments, if the efforts of the Hyderabad-based Credence Laboratories to develop the ... More

Merck to sell Taloja plant
PHARMA firm, Merck Ltd is to sell its Taloja facility. The board of directors of the company made the decision at a meeting held last week. In a notification the stock exchanges, the company said that it would be seeking members' approval ... More

ICI India to put out audited results

CORPORATE DISPUTES

Whose Dhara is it anyway?
IF there are better instances of there being wheels within wheels, it would indeed be a very close call. How else would one describe the fact that the sales accruing from Dhara (edible oil) gets reflected in the turnover of the Gujarat ... More

COMPANY LAW

Panel asks Govt to expedite work on NCLT
THE Standing Committee on Finance has asked the Government to expedite the enforcement of Companies (Amendment) Act, 2002, which lays down provision for establishment of a National Company Law Tribunal (NCLT). The Committee has recommended ... More

MERGERS & ACQUISITIONS

Tata SSL merged with Tata Steel
TATA SSL Ltd has been amalgamated with Tata Steel. The companies have filed with Registrar of Companies, Maharashtra, certified copies of the Bombay High Court orders approving the merger. Accordingly, TSSL stands dissolved without winding up ... More

Kothari Petro's caustic soda unit — Chemplast plans capacity expansion after takeover
CHEMPLAST Sanmar Ltd, which is close to formalising a deal to takeover the caustic soda unit of Kothari Petrochemicals Ltd, proposes to invest about Rs 15-20 crore in capacity expansion, after the takeover. At present, the Kothari plant is ... More

NEW PROJECTS

Vimta plans to set up more labs
BUOYED by over 75 per cent growth in its revenues for the latest fiscal, mostly from bio-equivalent studies on humans for pharmaceutical companies, Vimta Labs Ltd (VLL), the Hyderabad-based contract research and testing company, has decided to go ... More

INTERVIEW

`Eveready back on profit path'
EVEREADY Industries India Ltd, the flagship of the B.M. Khaitan group, runs two separate and diverse businesses, tea and battery. From 1992-93 to 2000-01, the company continuously registered profits and paid dividends to its shareholders. ... More

SICK UNITS

Maa Kali Steel finds revival tough
MKSUL was earlier known as Purulia Steel Ltd. In 2001, Mr Sanwarmal Poddar, Managing Director of MKSUL, acquired the plant without any liability from the Official Liquidator of Calcutta High Court for a sum of Rs 60 lakh. However, till today ... More

Hitachi Home BIFR-bound — Peak net worth erodes 50 pc
HITACHI Home & Life Solutions (India) Ltd, air-conditioning equipment manufacturer, has witnessed erosion of more than 50 per cent of the peak net worth during the preceding four financial years and the company is set to report this to the Board ... More

OUTLOOK

Investment in mines certain as Tata Steel focuses on iron ore business
TATA Steel's decision to secure a strong toehold in iron ore business clearly suggests that the management will make fresh investments in its captive mines in Jharkhand and Orissa. Already on a modest scale Tata Steel is into iron ore exports ... More

PERFORMANCE

Supply pinch: Toyota-Kirloskar, Kinetic Engg halt production
TOYOTA-KIRLOSKAR Motor Company and Kinetic Engineering became the first victims of the nine-day-old truckers' strike, with both companies shutting down their factories. While TVS Motor Company has decided to stop production from Wednesday, ... More

Punjab Tractors: Drought, fall in sales to blame
PUNJAB Tractors Ltd's (PTL) performance during the just ended fiscal is indicative of the difficult times that the tractors and farm equipment sector is going through. The drought and the resultant drop in tractor sales had led to an over 38 per ... More

ECONOMIC OFFENCES

Panel tells Govt to plug holes to check vanishing cos
The Standing Committee on Finance has pulled up the Department of Company Affairs (DCA) for not making serious efforts to check `fly-by-night' or vanishing companies. The Committee has asked the Government to plug in the loopholes in the existing ... More

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