The Hindu Business Line : Friday, July 19, 2002

Tatas thrust to branded businesses — Plans Rs 300-crore promotion
THE Tata group will invest Rs 250-300 crore on brand development initiatives over the next five years. This follows the group's thinking that its brand-led businesses -- which fall under the realm of IT, telecommunications, tea and hotels - will ... More

OPEN OFFERS

Carrier Corp stake in Indian arm tops 90 pc
CARRIER Corporation has acquired over 90 per cent stake in its Indian subsidiary, Carrier Aircon Ltd, through an open offer. It intends to delist the Indian company following a mandatory offer which it will make before October 15, 2002 as per ... More

ESOPS

Coca-Cola breaks the ice on expensing stock options
THE July 14 announcement by Mr Doug Draft, Chairman and Chief Executive Officer of Coca-Cola Company, that the multinational will expense the cost of all stock options it grants during and after the fourth quarter of the current financial year ... More

HUMAN RESOURCES

MSTC scheme to improve workers' skills
A NEW training programme to improve upon the skills of employees was launched here recently by the Metal Scrap Trading Corporation (MSTC) Chairman, Mr Malay Sengupta. The programme consists of 19 individual training modules covering internal, ... More

RESTRUCTURING

Wockhardt Life completes deal for IV business sale
WOCKHARDT Life Sciences Ltd today said that it has completed the financial transaction relating to the sale of its IV fluids business to Baxter India, the Indian subsidiary of the $7.7-billion Baxter International Inc. Baxter inherits ... More

Usha Beltron to relocate Ranchi cable unit
WITH its steel business picking up, the Usha Beltron group has finalised plans to tone down its emphasis on the cable business, while deciding to relocate its cable unit at Ranchi partly to an overseas destination and partly to its existing unit ... More

NEW PROJECTS

Lafarge to build Rs 150-cr Bengal plant in two years
AFTER starting off its Indian operations with two major acquisitions, French cement major Lafarge is confident of completing its first greenfield project somewhere in West Bengal in the next two years. However, the land for this proposed plant ... More

Orchid to set up Chinese facility for cephalosporin — Forms 50:50 joint venture
ORCHID Chemicals & Pharmaceuticals Ltd based here has joined hands with North China Pharmaceutical Corporation, Shanghai, to promote NCPC Orchid Pharmaceuticals Co Ltd, a 50:50 joint venture for manufacture and marketing of cephalosporin bulk ... More

REGULATORY BODIES & RULINGS

DCA allowed to probe Xerox dealings
THE Company Law Board (CLB) has allowed the Department of Company Affairs (DCA) to initiate investigations in Xerox Modicorp Ltd to assess whether the management has been guilty of fraud, misfeasance or other misconduct towards the company. ... More

ALLIANCES & JOINT VENTURES

BHEL to tie up with Shree Ind for water heaters
THE Rudrapur unit of Bharat Heavy Electricals Ltd (BHEL) has appointed Shree Industries, a manufacturing house based in Faridabad (Haryana), as an authorised associate for marketing, erection and commissioning of solar water heating systems. A ... More

TRF, Samsung join hands
TRF Ltd, a Tata enterprise, has signed a memorandum of understanding (MoU) with Samsung Heavy Industries of South Korea for securing technology and other support in the manufacture of container and RTG cranes used in port operations. The MoU was ... More

BONUS ANNOUNCEMENTS

Ranbaxy's Q2 net spurts 190 pc — 3:5 bonus issue announced
PHARMA major Ranbaxy Laboratories Ltd (RLL) has posted a net profit of Rs 138.4 crore for the second quarter ended June 30, 2002. This was up 190 per cent over the previous year's net profit of Rs 47.8 crore, the company announced here on ... More

Camlin proposes 1:1 bonus; Q1 net rises 28 pc
THE board of Camlin Ltd has proposed a bonus issue of one equity shares for every share held (1:1). The company has reported a 28 per cent increase in its net profit at Rs 3.28 crore for the first quarter ending June 30, 2002, against a net ... More

PEOPLE

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Illegal border trade put at $2 billion

`We're quite strong, but we'll have to watch out' — Mr A. Ramamurthy, current-in-charge and Managing Director, LIC

Bank defaults mount to Rs 80,246 cr: AIBEA

Software exports touch Rs 36,500 cr: Nasscom

Cutflower exports regain markets Down Under

Hacking of Indian Govt Web sites on the rise

Post going private... in letter and spirit

Osteopathy, the healing touch