The Hindu Business Line : Friday, February 22, 2002

Amzel Auto EGM to take up buyback
AMZEL Automotive Ltd has informed the Bombay Stock Exchange that the EGM of the company will be held on March 19 to consider buyback of 1,50,000 equity shares of Rs 10 each of the company at a price of Rs 43 per share through tender offer from ... More

RESTRUCTURING

Daewoo Motors gets reprieve from lenders
DAEWOO Motors India Ltd has got a reprieve from its lenders, who have assured the loss-making car maker they would not press for repayment of interest and principal until April, a top company official said on Thursday. The lenders have assured ... More

Cummins EGM to seek nod for plant sale
AN extraordinary general meeting (EGM) of the shareholders of Cummins India Ltd is scheduled to be held on March 26, to seek shareholders approval for the disposal of Plant II. At the EGM, shareholders approval for amendment of Articles of ... More

MERGERS & ACQUISITIONS

Ruia Coatex set to acquire Jessop
RUIA Coatex, promoted by Mr Pawan Ruia, Kolkata-based chartered accountant, is set to acquire a controlling stake of 72 per cent in Jessop & Company Ltd, a subsidiary of Bharat Bhari Udyog Nigam Ltd. The company is engaged in the design and ... More

Zee's open offer for ETC at Rs 31.52
ZEE Telefilms Ltd (ZTL) will make a open offer to the shareholders of ETC Networks Ltd to acquire up to 20 per cent stake (23.40 lakh shares) at Rs 31.52 per share. ZTL had earlier announced that it had acquired 48.32 per cent of the promoters' ... More

Parent hikes stake in Timex to 83.58 pc
NETHERLANDS-based Timex Watches B.V. has hiked its stake in its Indian subsidiary, Timex Watches Ltd, to 83.58 per cent by investing Rs 20 crore. Mr Kapil Kapoor, Managing Director, Timex Watches Ltd, said: "This investment in the form of ... More

NEW PROJECTS

SNF India to set up Vizag unit
FRENCH firm, SNF Floerger, a manufacturer of water treatment products, has completed the acquisition of Ion Exchange, having picked up a further 60 per cent equity, and is now planning a new manufacturing base at Visakhapatnam. The Chairman of ... More

ABAD group sets up 2,300-t cold store
THE Kochi-based ABAD group has set up a 2,300-tonne cold store for a range of processed and perishable products at Sriperumbudur, about 45 km west of Chennai. According to a company press release, this is the second such facility run by the ... More

Loans for hydro-power arm -- Jaiprakash Ind to offer itself as collateral
IN an attempt to bail out the Baspa-II hydel project in Himachal Pradesh, Jaiprakash Industries has decided to offer itself as collateral security for fresh term loans worth Rs 167 crore from banks and financial institutions to its subsidiary, ... More

REGULATORY BODIES & RULINGS

Board meetings may go hi-tech
THE Department of Company Affairs (DCA) has asked the Institute of Company Secretaries of India (ICSI) to examine the prospects of holding board meetings through video-conferencing. "ICSI is working in close co-ordination with DCA. A meeting ... More

ALLIANCES & JOINT VENTURES

HP in pact to help AP bridge digital divide
HP's e-inclusion initiative seeks to create new market opportunities by closing the gap between technology-empowered and technology-excluded communities through the creation of market and economic development opportunities, the Vice President of HP, Ms Debra Dunn, said. More

DIVERSIFICATION

Macmillan into e-learning
IN its 110 years of existence in the country, Macmillan India Ltd banked heavily on the business of education. With the advent of the Internet, eMacmillan was born with e-learning as its core business. ''Though it has contributed just about Rs 5 ... More

OUTLOOK

IBP buy will de-risk business, says Pathan
THE acquisition of IBP by Indian Oil Corporation (IOC) is a positive step towards de-risking in the highly competitive sector, according to Mr M.A. Pathan, Chairman of IOC. The price was also good, he added. "We will complement each other than ... More

Essar Power variable cost set to fall
ESSAR Power (EPL) is going in for a makeover of its generation factor whereby the variable cost of the Hazira-based plant will become cheaper by some 50 paise per unit. The incremental annual savings that will accrue on account of this to the ... More

BHEL hopes to pay off short-term debts by Oct
BHARAT Heavy Electricals Ltd (BHEL), the country's largest engineering and manufacturing PSU, is planning to become a zero-debt company . Sources said that apart from the liability of servicing the long-term bonds that it had issued last year, ... More

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