Corporate
Pioneer Embroideries tie-up for overseas marketing
PIONEER Embroideries Ltd will sign a memorandum of understanding (MoU) for marketing its products abroad through the South Korean company, Moojin International Ltd.
SAIL may seek new partner for IISCO
STEEL Authority of India Ltd (SAIL) is likely to seek a new joint venture partner in place of Tyazpromexport, Russia (TPE), to turn around its sick wholly-owned subsidiary, Indian Iron and Steel Company Ltd (IISCO).
SBI appointed OA for Midland -- To check for discrepancies in balance sheet
THE State Bank of India (SBI) has been appointed as the operating agency (OA) for Midland Industries Ltd (MIL) by the Board for Industrial and Financial Reconstruction (BIFR) to enquire on its own or through a firm of chartered accountants whether there
were contradictions in the company's figures appearing in the balance sheet and in Form `A' filed by MIL.
Subhash Projects to market water treatment tech
SUBHASH Projects and Marketing Ltd (SPML) has announced the signing of a MoU for a strategic alliance with a US environment technology developer _ Lightstream Technologies Inc.
Goodyear net up
GOODYEAR India Ltd (GIL) has reported a 28.60 per cent increase in net profit for the year ended December 31, 1999, at Rs. 18.93 crores as compared to a net profit of Rs. 14.72 crores recorded in the corresponding period of the previous year.
Arraycom to float IPO
ARRAYCOM (India) Ltd is to come out with an initial public issue of 90,00,000 equity shares of Rs. 5 each, for cash at a price band of Rs. 65 to Rs. 78 per share, including 1,30,000 shares to employees and 16,19,000 shares to mutual funds, FIIs, FIs, etc
. at a price of Rs. 90 per share.
Balaji group: Battling tough times
FOR the past few months, anguished investors have been thronging the closed gates of RBF Nidhi Ltd, a non-banking finance company that has folded up, hoping to get at least a part of their money back.
Kuoni plans public issue by year-end
KUONI Travel India, part of the Swiss Travel Group Kuoni Travel, plans to enter the primary capital market with an Initial Public Offer (IPO) towards the end of the year, the visiting President and Chief Executive Officer, Kuoni Travel Holding Ltd (KTHL)
, Mr. Hans Lerch, has said.
Oxford Mouldings acquires 53% in Suryodaya Plastics
OXFORD Mouldings Pvt. Ltd (OMPL), along with Shalimar Packaging Pvt. Ltd (SPPL) and Mr. Anil Jain & Associates (AJ&A), has acquired 20.56 lakh fully paid-up equity shares of Rs. 10 each of the Chennai-based Suryodaya Plastics Ltd (SPL).
Hindustan Syringes meets production target
HINDUSTAN Syringes & Medical Devices Ltd (HMD) has achieved its annual production target of 1.5 billion medical disposables while working at 100 per cent capacity utilisation at its manufacturing facility near Faridabad in Haryana.
Miscellaneous
Corporate briefs
NEW DELHI: The Board of Directors of ICI India Ltd on Friday declared an interim dividend of 55 per cent, i.e Rs. 5.50 per equity share of Rs. 10 each for the financial year ended March 31, 2000.
BPCL tie-up for chair on chemical engg
BHARAT Petroleum Corporation Ltd has tied up with the University Department of Chemical Technology, University of Mumbai, for the institution of a Chair for chemical engineering.
Nominated to ICSI Council
THE Department of Company Affairs (DCA) has issued orders under clause (b) of sub-section (2) of Section 9 of the Company Secretaries Act, 1980, nominating Mr. A. Ramaswamy, Joint Secretary, DCA, to the Council of the Institute of Company Secretaries of
India (ICSI) with immediate effect.
BFL, GACL, Satyam hit FII `alert level'
THE Reserve Bank of India on Friday notified that no further purchases of shares of BFL Software Ltd, Gujarat Ambuja Cements Ltd and Satyam Computers Services Ltd should be made on behalf of foreign institutional investors (FIIs) without obtaining prior
clearance of RBI.
