The Hindu Business Line : Thursday, April 28, 2005

Gujarat Pipavav raises Rs 125-cr equity from IDF
GUJARAT Pipavav Port Ltd (GPPL) has raised Rs 125 crore equity from IDFC Private Equity-managed the India Development Fund (IDF). After the recent capital restructuring, APM Terminals (APMT), part of the A.P. Moller-Maersk Group, is now the ... More

Maruti may raise prices in May — Rolls out five millionth car
MARUTI Udyog Ltd (MUL) has said that it might increase prices of its vehicles next month on account of rise in input costs. The prices may go up from May, due to pressure from rising input costs, Mr Jagdish Khattar, Managing Director, MUL, ... More

GM India to unveil plan for small car this year
GENERAL Motors India will come out with an announcement on its small car this year. Stating this, Mr Aditya Vij, President and Managing Director GM India, told newspersons on Wednesday that, "It would happen in a few months. India is a small car ... More

Hindustan Newsprint may consider IPO for expansion
HINDUSTAN Newsprint Ltd(HNL), a subsidiary of Hindustan Paper Corporation (HPC), is considering an initial public offer of shares. This will be one of the options to raise funds to meet a substantial portion of the cost for doubling the ... More

Kraft Paper to hike prices by Rs 1,500 a tonne
KRAFT Paper Mills, based in Gujarat and Maharashtra, has decided to increase its basic prices by Rs 1,500 per tonne or 10-12 per cent for all grades from April 25 due to the steep increase in basic input costs. The cost of raw material waste, ... More

Ginni Filaments plans Rs 200-cr expansion
GINNI Filaments Ltd, a 100 per cent export-oriented unit producing yarns and knitted fabrics, is planning to invest around Rs 200 crore by the middle of next year to expand the existing capacity and execute forward integration to its existing ... More

Infratech bags 1.5-cr sq.ft. project
INFRATECH Infrastructure Services Pvt Ltd, an infrastructure consultancy company, has bagged about 1.5 crore sq ft of projects nationally, according to its Managing Director, Mr R. Kannan. The two-year-old company with a turnover of about Rs 9 ... More

BUYBACK

Arvind Mills to buy entire stake in arm from ICICI Ventures
ARVIND Mills Ltd has decided to buy back 53.4 per cent stake in associate company, Arvind Brands Ltd, from ICICI Ventures for Rs 106 crore. The Sanjay Lalbhai-managed Arvind Mills owns the remaining 46.6 per cent stake in the company, which is ... More

PREFERENTIAL ALLOTMENTS

Vijay Shanthi Builders to make pref allotment
CHENNAI: Vijay Shanthi Builders Ltd will make a Rs 60-crore preferential allotment of shares to its directors to fund its new projects. Mr Suresh V. Jain, Managing Director, Vijay Shanthi Builders Ltd, said the board of ... More

CORPORATE DISPUTES

Reliance Ind Q4 net climbs 62 pc — Scrip falls as Ambani dispute 'worsens'
RELIANCE Industries Ltd on Wednesday reported a 62-per cent increase in net profit for the fourth quarter ended March 2005, on the back of higher oil refining and petrochemicals margins. Net profit climbed to Rs 2,292 crore, or Rs 16.4 a share, ... More

`It's Reliance XI vs Anil'
THINGS have not improved much since Mr Anil Ambani met the media last, ahead of a RIL board meeting on December 27. Today, four months later, when he met the waiting media brigade, there was a sense of déjà vu. Unlike last time when Mr Anil ... More

Not signing Reliance accounts — Anil says crucial info lacking
DIFFERENCES between the Ambani brothers came to the fore once the Reliance Industries board meeting got over. While RIL Vice-Chairman Mr Anil Ambani abstained from signing the company's final accounts citing lack of crucial information, the ... More

ENVIRONMENT

Chemplast plans to invest Rs 20 cr in Mettur facility
CHEMPLAST Sanmar Ltd will move towards zero treated effluent water discharge at its PVC and caustic soda plants at Mettur by investing Rs 20 crore in two schemes, a release said. The first scheme covers Rs 13 crore to treat the effluent ... More

MERGERS & ACQUISITIONS

IVRCL to acquire 70 pc equity in Hindustan Dorr-Oliver
IVRCL Infrastructures and Projects Ltd has decided to acquire 70 per cent equity in Hindustan Dorr-Oliver Ltd (HDO) from Jumbo World Holdings Ltd and its associates for Rs 53.9 crore, including a non-compete fees. An agreement to this effect ... More

NEW PROJECTS

Jindals may set up finishing mill in Jharkhand
THE Jindals may set up a finishing mill in Jharkhand to get the necessary iron ore-mining lease from the State for their proposed 5-million-tonne steel plant project in West Bengal. The move is aimed at pacifying the Jharkhand Government, which ... More

ALLIANCES & JOINT VENTURES

Prestige to develop luxury hotel for Hilton in Bangalore
PRESTIGE Estates Projects, a property development company, has announced a tie-up with hospitality major Hilton International for developing a luxury hotel in Bangalore. The hotel, to be promoted by Prestige at a cost of Rs 200 crore, will be ... More

BONUS ANNOUNCEMENTS

Carborundum net up 21 pc, bonus issue at 1:1
CARBORUNDUM Universal Ltd has reported a net profit of Rs 38 crore for last year, which is 21 per cent more than its achievement of Rs 32 crore in the previous year. Sales increased to Rs 357 crore from Rs 314 crore previously. The board of ... More

SICK UNITS

Exits need to be fixed up
Mohan R. Lavi on the need to make winding up schemes less painful. More

OUTLOOK

Gulf Oil targets Rs 1,000-cr turnover in three years
GULF Oil Corporation, the Hinduja group company formed after merging Gulf Oil India with the Hyderabad-based IDL Industries, plans to increase its turnover to Rs 1,000 crore in the next three years. According to Mr Subhas Pramanik, Managing ... More

PEOPLE

Reddy reappointed MD of Novopan Ind
HYDERABAD: Novopan Industries Ltd has informed the BSE that its board of directors at its meeting held on Wednesday re-appointed Mr N. Anil Kumar Reddy as Managing Director for a term of five years with effect from April 22. ... More

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