Cement
FIs revise rates for Shree Cement
SHREE Cement Ltd, controlled by Mr Benu Gopal Bangur, was able to secure from financial institutions a reduction in interest rates during its July 1999-June 2000 accounting year.
Corporate
A share proposition not disagreeable
BOTH the Firodia and Bajaj families, it appears, prefer an exit from their equity holdings in each others' companies. The barrier, in the interim, is an agreeable price at which the share transactions can be effected.
SHV to consolidate Indian operations
THE Dutch LPG major - SHV Holdings NV - has announced plans to consolidate its Indian operations in commercial and industrial segments through strategic alliances.
Novartis to focus on consumer healthcare
NOVARTIS India Ltd will be focussing on its consumer healthcare business, said Dr E. Schillinger, President and Managing director, Novartis.
Daewoo seeks FIPB nod to convert debt to equity
THE financially-beleaguered Korean auto company, Daewoo Motors India Ltd, (DMIL) has approached the Foreign Investment Promotion Board (FIPB) to convert its debt to equity in order to attract buyers.
NAVs of Future Goals schemes
MUMBAI: IDBI-Principal Asset Management Co Ltd has announced the first net asset value (NAV) of schemes under its `Future Goals' series. It has also announced reasonable appreciation in the NAVs of schemes which are now reopened for sale and repurchase.
Ricoh not to unify photocopier outfits
JAPANESE automation major - Ricoh - will not consolidate its Indian operations in the photocopier market despite having interests in three different companies with near similar product lines. The three outfits - Ricoh India, Gestetner and Prima Division
of Godrej & Boyce Mfg Co - compete against each other through different brands, and Ricoh of Japan has no plans now to disturb this set-up.
Cabinet approves staff retirement age cut
THE Union Cabinet has approved the proposal to roll back the retirement age of employees of Hindustan SteelWorks Construction Ltd (HSCL) from 60 years to 58 years.
Information Technology
stockmarkit.com employs Reuters online solution
STOCKMARKIT.COM, the online financial services Web site of the Apeejay Surrendra Group, has employed Reuters' electronic online trading solution on its portal. With this, stockmarkit.com, has emerged as the ``first hosted online trading site in Asia to e
mploy the Reuters electronic online trading solution''. The Reuters solution is already well established in several sites in the US.
PSU
SBI loan for HSCL staff separation
HINDUSTAN Steelworks Construction Ltd (HSCL), for which the Centre had approved a financial restructuring-cum-financial assistance package in July 1999, has been able to arrange a loan of Rs 209.82 crore from SBI for implementing an employee separation s
cheme (ESS).
Hind Copper AGM to mandate board on hive-off
A RESOLUTION listed for business by Hindustan Copper Ltd at its forthcoming AGM seeks to authorise its board to take steps to implement the Union Government's decision to hive off as part of the first phase divestment, the company's manufacturing facilit
ies at Khetri in Rajasthan and Taloja in Maharashtra.
Stocks
JM Morgan Stanley Direct to focus on investment advisory
JM MORGAN Stanley Direct, the distribution brand conceptualised by JM Morgan Stanley Retail Services Ltd, has prioritised investment advisory based on assessing needs and profiles of clients, and suggesting the best possible asset allocation for them.
NSE study spots gaps in compliance with IOSCO norms
EVEN as India Inc. moves ahead with grand plans to integrate itself with the world economy, the Indian securities market lies way behind the international benchmark for soundness of securities regulations in complying with IOSCO (International Organisati
on of Securities Commissions) standards.
