The Hindu Business Line : Thursday, February 17, 2005

BHEL commissions Rihad power plant
BHARAT Heavy Electricals Ltd's 500-MW unit at National Thermal Power Corporation's Rihand power station in Uttar Pradesh has been commissioned. The engineering firm had bagged the main plant package contract valued at Rs 2,079 crore for the ... More

Madhucon board meet
HYDERABAD: Madhucon Projects Ltd has informed the bourses that its board will meet on February 21 to consider allotment of 4-lakh equity shares of Rs 10 each with a premium of Rs 380 per share, as approved by the shareholders at the EGM ... More

Matrix Labs gets Rs 75 cr in patent suit settlement
MATRIX Laboratories Ltd has informed the stock exchanges that as a part payment towards the settlement of a potential patent infringement suit, the company has received a sum of Rs 75 crore on Wednesday out of an estimated consideration of Rs 95 ... More

Ashok Leyland eyes defence vehicle exports to W. Asia
Ashok Leyland has signed an agreement this week for initial supply of 100 trucks and 100 buses to Sudan and is executing an order for supply of 3,322 trucks to Iraq — the largest order so far for commercial vehicles from India. The ... More

Natco Pharma launches another cancer drug
NATCO Pharma Ltd has launched Lukatret, a medicine used in the treatment of Acute Promyelocytic Leukaemia. Lukatret (Tretinoin, all-trans retinoic acid) will be available in 10 mg capsules. Lukatret is a treatment option for remission ... More

Tecumseh India bags Rs 20-cr order from South African firm
TECUMSEH Products India has bagged an order worth Rs 20 crore from South African firm, Defy Appliances, for its THK compressors. The first consignment would be shipped by February-end and the entire supplies would be delivered during the ... More

IVRCL bags Rs 311-cr orders
HYDERABAD: IVRCL Infrastructures & Projects Ltd has stated that the company has bagged orders valued at Rs 311 crore from last week of January till now. The new orders pertain to Rs 160.47-crore worth works relating to construction of ... More

AUDITING

Disqualification of directors: Format of auditor's certificate amended
The Council has now added the words "on the said date" in the first paragraph of the certificate (format of which was provided by ICAI under a guidance note) to make it clear to the readers that the "auditor's certificate is based on the situation ex isting only on the date of financial statement". More

RESTRUCTURING

Shriram Transport board allots shares to Uno; okays revamp
SHRIRAM Transport Finance Company Ltd has informed the BSE that the board of directors at their meeting held on Wednesday have allotted to Uno Investments, a wholly owned subsidiary of ChrysCapital III, LLC, 1,34,79,000 equity shares of Rs 10 ... More

MERGERS & ACQUISITIONS

Balaji Tele shares end lower on stake sale by Star TV arm
SHARES of Balaji Telefilms moved down on the Bombay Stock Exchange (BSE) to end at Rs 95.80 against the previous close of Rs 97.25 on news that Star TV affiliate Asian Broadcasting FZ LLC had sold 40.74 lakh shares or 6.25 per cent. Asian ... More

Hind Lever arm to buy parent's soap plant
THE board of Hindustan Lever Ltd has approved that Bon Ltd, a wholly owned subsidiary of the company, will be the transferee company to acquire HLL's Sewri plant. This facility is involved in the manufacture of soap and soap intermediates, as a ... More

Tata Steel completes NatSteel acquisition
TATA Steel, which had announced in August its $486.4-million acquisition of the Singapore-based NatSteel Ltd, on Wednesday informed the BSE that it completed the transaction minus one facility in China. The facility, one of three for NatSteel ... More

Coromandel Fert buys 2.5% stake in Foskor for $6 m
COROMANDEL Fertilisers of the Murugappa group has acquired a 2.5 per cent stake in Foskor Ltd of South Africa for a consideration of $6 million (Rs 27 crore). Foskor Ltd is one of the largest producers of phosphoric acid in the world. It has a ... More

Pitney Bowes buys key assets of Kilburn Office Automation
PITNEY Bowes Inc has announced that it has completed a transaction that extends its penetration and reach outside the US — the acquisition of certain assets of Kilburn Office Automation Ltd. (Kilburn) in India. "Through this transaction ... More

Pioneer Embroideries to buy South Korean factory unit
PIONEER Embroideries Ltd (PEL) announced on Tuesday that it had finalised plans to acquire the complete embroidery manufacturing facilities of a South Korean company for $3 million. The plant, which will arrive at Mumbai port soon, will be ... More

Sundram Fasteners to merge arms
CHENNAI: Sundram Fasteners Ltd has informed the BSE that the board of directors of Aplomb Investments Ltd (AIL), a subsidiary of the company, has approved a proposal to merge Upasana Engineering Ltd (an unlisted wholly owned subsidiary of ... More

GAIL deal for Tripura Gas
NEW DELHI: GAIL (India) Ltd has signed an agreement with Tripura Industrial Development Corp (TIDC) and Assam Gas Co Ltd (AGCL) to pick up 29 per cent stake in Tripura Natural Gas Co Ltd (TNGCL). The agreement was signed by GAIL's ... More

NEW PROJECTS

Hyundai Motor to set up second plant near Chennai
It is expected that the new plant will be funded by the parent and through internal accruals from the Indian subsidiary. More

Shaw Wallace seeks to expand breweries' capacity
SHAW Wallace Breweries Ltd (SWBL) is seeking permission from the respective State Governments for expansion of the installed capacity of its breweries spread over nine States in the Country. "We want to set up global standard breweries so as to ... More

Siscol plans Rs 400-cr capacity expansion — Plans rights issue for part-financing
SOUTHERN Iron and Steel Company Ltd (Siscol), which has its plant at Pottaneri in Salem district of Tamil Nadu, has lined up an investment of about Rs 400 crore to modify the plant's existing facilities and to augment capacity. The company has ... More

ALLIANCES & JOINT VENTURES

Zicom venture in UAE
NEW DELHI: Electronic security systems provider Zicom Electronic Security Systems Ltd has decided to set up a joint venture with the UAE-based Bin Jabr Group Ltd. The new entity will be based in Abu Dhabi, Zicom said in a statement ... More

STANDARDS & BENCHMARKS

NFCL gets 5-Star for safety
HYDERABAD: The British Safety Council of UK has awarded 5-Star rating to Nagarjuna Fertilizers and Chemicals Ltd (NFCL) after conducting a detailed Health and Safety Management System Audit last month. The audit covered eight areas of ... More

OUTLOOK

Italian fairground outlines major plans for India
NEW DELHI: Fiera Milano SpA, the first European fairground to be listed (Milan Stock exchange since December 2002) has outlined major plans for the Indian market. The company is working on alliances with Indian exhibition organisers for ... More

GSK bets on in-licensing for growth in India
IT is not just local pharma companies, but multinational drug majors too that are betting on in-licensing as a strategy for growth in India. GlaxoSmithKline Pharmaceuticals Ltd has said that it is negotiating with an innovator company to ... More

Glenmark Labs plans to enter Australia, NZ, Brazil
GLENMARK Laboratories is planning to expand its operations across the globe by foraying into Australia, New Zealand and Brazil. The company has filed six product dossiers for registration with the Australian regulatory authority, one dossier ... More

Dynamatic Aerospace on expansion mode
DYNAMATIC Aerospace, which hopes to emerge as a major vendor to the aviation industry, has embarked on an expansion programme. This is in view of the growing importance of India as a major centre for outsourcing in defence and civil aviation ... More

PERFORMANCE

Praj Ind export orders cross Rs 100 cr
PRAJ Industries on Wednesday announced it has crossed the Rs 100-crore export order in the current fiscal and said the company is now preparing for a quantum growth over the next three years. Speaking to reporters here, the Chairman, Mr Pramod ... More

PEOPLE

Icrisat scientist on Unilever advisory board
GLOBAL major Unilever has invited Dr S.P. Wani, Principal Scientist at the International Crops Research Institute for Semi-Arid Tropics (Icrisat), here to join the Unilever Sustainable Agriculture Advisory Board. Constituted in 2000, the board ... More

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In Focus

BHEL Disinvestment

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