The Hindu Business Line : Saturday, April 23, 2005

ONGC lowers turnover, net profit estimates for 2004-05
OIL and Natural Gas Corporation Ltd today revised downwards its estimated turnover for 2004-05 to Rs 46,025 crore and estimated net profit to Rs 12,175 crore following instructions from Ministry of Petroleum and Natural Gas to continue the ... More

Salem Steel Plant may get melting facilities
SALEM Steel Plant (SSP), part of Steel Authority of India Ltd (SAIL), is "now giving final touches" to a long-term plan, which basically seeks to address the plant's inherent problem relating to sourcing of slabs for rolling. "Not having any ... More

VST to pay 125 pc dividend
HYDERABAD: The board of directors of VST Industries Ltd has recommended a dividend of Rs 12.50 per equity share of Rs 10 each for 2004-05 as against Rs 6 paid in the previous fiscal. The latest dividend includes the Platinum Jubilee ... More

Hyderabad Ind to pay 25 pc
HYDERABAD: The board of directors of Hyderabad Industries Ltd on Friday recommended a dividend of Rs 2.50 per equity share of Rs 10 each, which works out to 25 per cent, for the financial year ended March 31, 2005. In a communication to ... More

Mukand gets Rs 140-cr orders
MUMBAI: Mukand Ltd has received orders for about Rs 140 crore for supply of EOT cranes, caster equipment and mill equipment from Bhushan Ltd for its 1.5-million-tonne steel plant being set up in Orissa. The specialised four-girder ... More

PREFERENTIAL ALLOTMENTS

Prajay pref offer gets nod
HYDERABAD: Prajay Engineers Syndicate Ltd has informed the stock exchanges that its shareholders, at an extraordinary general meeting, have approved an increase in authorised share capital and preferential offer of equity shares. The ... More

CORPORATE DISPUTES

Deletion of Anil's name from IPCL Web site sparks speculation
WITH only three days to go for the next board meeting of Indian Petrochemicals Corporation Ltd (IPCL), speculation has broken out as to why the name of Mr Anil Ambani has been dropped from the company Web site. A release here today from the ... More

OVERSEAS BORROWINGS

45 cos seek RBI nod to raise money abroad
RELIANCE Industries, Indo Rama Synthetics and LML are among 45 companies that have sought permission from Reserve Bank of India to raise foreign funds in March. These companies propose to raise funds through External Commercial Borrowings (ECBs) ... More

ALLIANCES & JOINT VENTURES

CM moots jt venture for alumina plant in Vizag
THE Chief Minister, Dr Y.S. Rajasekhara Reddy, has urged National Aluminium Company Ltd (Nalco) and the Andhra Pradesh Mineral Development Corporation (APMDC) to consider joining hands to set up alumina plant in Visakhapatnam. According to an ... More

DIVERSIFICATION

Tata Coffee on diversification mode
TATA Coffee has come a long way from being a plantation company, focusing on coffee, to becoming a diversified company with a wide range of interests. "The plantation activities of the company, which now include coffee, pepper and vanilla, ... More

SICK UNITS

HC orders winding up of Chennai firm for non-payment of dues
THE Madras High Court, after hearing the company petitions filed by two German firms, has ordered winding up of M/s Quantum Industries (India) Ltd, Athipattu Village, Ponneri Taluk, near Chennai, as it defaulted in clearing the debts to the two ... More

OUTLOOK

Max India bets big on clinical research — Targets $100-m revenue in 5 years
THE clinical research business, Neeman Medical International, may turnout to be the next big cash cow for Max India. From the present revenue of $6 million (around Rs 26 crore), Max India hopes to achieve $100 million in the next five ... More

Indal yet to submit plan on smelter unit
UNCERTAINTY over reopening Indian Aluminium Ltd's smelter unit continues, as the company management is yet to submit to the government its proposal on its power requirement and the tariff. Even a month after the meeting held by the Chief ... More

PERFORMANCE

Wipro Consumer Care revenues up 20 pc
WIPRO Consumer Care and Lighting (WCCL) recorded revenues of Rs 472 crore, a 29 per cent rise year-on-year, and contributed 6 per cent to Wipro Ltd's revenues of Rs 8,170 crore for 2004-05. Quarter-on-quarter, the business grew 20 per cent ... More

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