CORPORATE
ANNOUNCEMENTS
Lower prices to stay till March 2005: Tata Steel
THE Rs 2,000-per tonne reduction in steel prices announced by Tata Steel on Sunday will be in force up to March 31, 2005, regardless of any likely rise in input cost, Mr B. Muthuraman, Managing Director of the company, today said. Terming the ...
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Glenmark files for Phase I trials on asthma drug in UK
GLENMARK Pharmaceuticals S.A. (Switzerland) has filed for Phase I clinical trials of GRC 3886, its novel drug candidate for asthma and chronic obstructive pulmonary disease , in the UK. The trials are likely to be completed by March 2005, a ...
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Nagarjuna Const bags 3 orders worth Rs 158.03 cr
NAGARJUNA Construction Company Ltd has secured three new orders worth Rs 158.03 crore. The orders include two design, build and operate contracts from the Gujarat Water Supply and Sewerage and implementation of an irrigation project on turnkey ...
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Jetking postpones board meeting
MUMBAI: Jetking Infotrain Ltd has informed the Bombay Stock Exchange that the board of directors' meeting, to consider the issue of bonus shares, scheduled to be held on August 23 has been postponed to August ...
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PREFERENTIAL ALLOTMENTS
GMR allots shares to VIL members
GMR Industries Ltd has informed the stock exchanges that its board of directors has recently allotted 51.74-lakh equity shares and 2.06-crore preference shares to the members of erstwhile Varalakshmi International Ltd (VIL) as per scheme of ...
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CORPORATE DISPUTES
Lodha to dispute Birlas' claim; `property not of HUF origin'
PURSUANT to the directions of the Calcutta High Court, Mr R.S. Lodha is supposed to file affidavits in support of his cases, scheduled for a hearing on August 25. It is learnt that the same will be filed in court on Tuesday. According to ...
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FLAG withdraws plaint against VSNL's US foray
FLAG Telecom has withdrawn its complaint to the Federal Communications Commission (FCC) against Videsh Sanchar Nigam Ltd's proposed entry into the US telecom services market. The US-based company, which was recently acquired by Reliance, had ...
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COMPANY LAW
Co law norms: Ministry clarifies on who can be nailed for non-compliance
COMPANY employees can breathe easy now. The Ministry of Company Affairs has fixed responsibility for non-compliance of certain provisions of the company law. Hitherto, the absence of clarity on this front led to officials and employees of ...
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TAXATION
India Inc favours consolidated income-tax assessments
WITH the concept of consolidation of financial statements of companies within the Group gaining favour among regulators, India Inc is keen that even income-tax assessments are made on the basis of consolidated Group accounts. Corporate India ...
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MERGERS & ACQUISITIONS
Hindalco finalises merger of Indal units with itself
HINDALCO Industries Ltd, an Aditya Birla Group company, today announced plans to merge all but one business of its subsidiary, Indian Aluminium Company Ltd (Indal), with itself. The companies have decided on a share swap ratio of one share of ...
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Little incentive to keep Indal separate
EVEN as late as in early July, the Vice-Chairman of Indian Aluminium Company (Indal) had ruled out the possibility of a merger between Hindalco Industries and Indal in the immediate future. He, however, came up with a tantalising caveat that ...
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TRADE & LABOUR UNIONS
Ashok Leyland Hosur plant staff go on strike
ASHOK Leyland Ltd employees at Hosur plant-I struck work this morning demanding an early settlement over wage negotiations and productivity issues. The company has informed the stock exchanges that the workmen at one of its units at Hosur have ...
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ALLIANCES & JOINT VENTURES
Max Healthcare ties up with Singapore hospital
MAX Healthcare and Singapore General Hospital (SGH) will collaborate on medical practice, research, training and education in the area of healthcare services. The SGH Chief Executive Officer, Prof Tan Ser Kiat, and the Max Healthcare Chairman, ...
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OUTLOOK
Truckers' stir: Toyota, Honda to review situation
MAJOR auto companies including Toyota-Kirloskar Motor Company and Honda Siel said on Monday that they will review the situation if the truckers' strike continues for a few more days. A Toyota official said that the company, which follows the ...
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Bosch plans Rs 1,000-cr investment — To build common rail systems thru Mico
GERMAN auto component major, Bosch, said on Monday that it plans to invest around Rs 1,000 crore in India over a period of four years. It will also invest around Rs 85 crore in its Indian software company, Robert Bosch India Ltd. The member ...
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Voltas to break price barrier in more segments
WITH its `mass-market' pricing strategy paying dividends, Voltas is looking to break the price barrier in more categories in the forthcoming months. The company had earlier this year rolled out a window air-conditioner priced below Rs 10,000, ...
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Hitachi Home targets Rs 170-cr turnover
HITACHI Home & Life Solutions India (HHLSI), which recently underwent financial restructuring to curb losses, is betting on growing sales of its air-conditioners to drive profits. The company, which saw a loss of Rs 25 crore in the last ...
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