The Hindu Business Line : Tuesday, May 24, 2005

Automart to bring out first Blue Book on used cars
USED car major, AutomartIndia, plans to bring out the country's first Blue Book, a reference guide consisting of pricing details and history of each used car in the country. AutomartIndia also plans to float an IPO in a couple of years with ... More

Bajaj Auto to launch Avenger on June 10
The Avenger's launch will be followed by the company's foray into retailing through branded boutique stores for its premium motorcycles. More

Leelaventure meet
MUMBAI: The board of Hotel Leelaventure is slated to meet on June 3, to consider acquisition of an existing operating hotel in Kerala. The property is located at Kovalam beach, the company said. ... More

RESTRUCTURING

GTN Textiles to finalise demerger on June 4
GTN Textiles Ltd would finalise the proposed demerger of business activities of its Aluva unit along with investment in Patspin India Ltd to the extent of 39.07 per cent of the equity share capital of that company at its board meeting scheduled ... More

MERGERS & ACQUISITIONS

Deccan Chronicle buys 67 pc in Asian Age
DECCAN Chronicle Holdings Ltd today announced that it has acquired 67 per cent stake in Asian Age Holdings, publishers of The Asian Age, for Rs 17.10 crore, taking its total holding to 90 per cent. "This acquisition will give us a ... More

El Forge to acquire UK co
CHENNAI: El Forge Ltd, a Chennai based firm, has approved the acquisition of a majority stake in the £4.5-million Shakespeare Forgings Ltd (based in Birmingham, the UK). The board has appointed a sub-committee to finalise the terms of ... More

REGULATORY BODIES & RULINGS

To comply with Clause 49 of Listing Agreement — `ONGC board may have fewer Govt directors'
THE Government on Monday indicated that it would by December 31 bring down its representation on the board of the Oil and Natural Gas Corporation, so as to enable the oil major to conform to the proposed revised Clause 49 of the Listing ... More

ALLIANCES & JOINT VENTURES

US imagery co signs pact with Visage Media
GETTY Images, a US-based imagery company, has signed a pact with Hyderabad-based Visage Media Services to represent it in India, Sri Lanka, Bangladesh, Pakistan, Bhutan, Nepal and Maldives. Customers in these countries, who had been sourcing ... More

DIVERSIFICATION

Subhash Projects to foray into power trading biz
SUBHASH Projects & Marketing Ltd (SPML), engaged in the construction sector, will soon make a foray into the power trading business through one of its group companies. According to Mr S. C. Sethi, Vice-Chairman, the company has applied for a .. More

BONUS ANNOUNCEMENTS

Balakrishna Ind posts Rs 63.1-cr net profit
BALAKRISHNA Industries Ltd has issued a bonus of one share for every two held. It has posted a net profit of Rs 63.1 crore for the year ended March against Rs 30.2 crore in the earlier year, a growth of 108 per cent. Operating profit stood at ... More

STANDARDS & BENCHMARKS

Rain Calcining among global top-5
HYDERABAD: Rain Calcining Ltd commenced commercial production of its expanded calcination plant on Monday. Accordingly, the capacity of the calcined petroleum coke (CPC) plant has increased from 3 lakh tonnes per annum to 4.8 lakh tpa. ... More

SICK UNITS

Employees unhappy over delay in TRL reopening
EMPLOYEES of Travancore Rayons Ltd (TRL) at Perumbavoor seem to be losing patience as reopening of the unit is being delayed because of the stalemate in reaching a one-time settlement (OTS) by promoters with the banks and financial institutions. ... More

OUTLOOK

ONGC to invest Rs 2,800 cr more in Bassein field
OIL and Natural Gas Corporation Ltd has finalised a Rs 2,800-crore additional development plan for the Bassein gas field. The company is also planning to pump an additional Rs 2,000 crore into re-developing the existing field. Both projects will ... More

Honda Civic may hit Indian roads next year
HONDA may be rolling out its international bestseller the Honda Civic, a premium mid-size sedan, as its next offering for the Indian market. Industry sources say that the Indian subsidiary, Honda Siel Cars India Ltd, has started preliminary ... More