The Hindu Business Line : Friday, December 20, 2002

Himalaya Herbal launches prostate drug
HIMALAYA Herbal Healthcare has entered the domestic market for prostate enlargement treatment with Himplasia. The drug is a clinically proven combination of five time-tested herbs and offers double-pronged action of an alpha blocker as well as ... More

Essar Shipping prepays Rs 136 cr to ICICI Bank
ESSAR Shipping Ltd today said it has prepaid Rs 136-crore loan to ICICI Bank, three years ahead of maturity. With this, the company would save Rs 10.56 crore per annum as the loan advanced in January 1999, carried an interest of 12.88 per cent, ... More

COURTS/LEGAL ISSUES

Mumbai HC nod for HLL special dividend
THE Mumbai High Court has approved the Scheme of Arrangement between Hindustan Lever Ltd (HLL) and its shareholders for the issue of bonus debentures and payment of special dividend, a company statement said. Shareholders had earlier approved ... More

MERGERS & ACQUISITIONS

Indo Rama promoters to hike stake to 51 pc
THE promoters of the Rs 1,900-crore Indo Rama Synthetics (I) Ltd (IRSL) are to enhance their stake in the company from the existing level of about 49 per cent to 51 per cent in the near term through part-purchase of the 6.5 per cent holding held ... More

SABMiller eyes Balaji's brewing assets in AP
Sources said the Balaji group decided to move ahead with the deal after obtaining a favourable opinion from the UB group Chairman, Mr Vijay Mallya. More

Nava Bharat promoters stake touches 55.82%
FOLLOWING the redemption of non-cumulative redeemable preference shares of Rs 100 each by way of allotment of equity shares of Rs 10 each, the core promoters of Nava Bharat Ferro Alloys Ltd (NBFAL), the Hyderabad-based ferro alloys and power ... More

CORPORATE GOVERNANCE

`CEOs must certify all disclosures'
THE JPC probing into the stock scam said that the retail investors lacked confidence in the Indian stock markets and has recommended strict accountability by listed companies through certification by their chief executives, which if proved ... More

NEW PROJECTS

MUL to set up foundry for cylinder heads
MARUTI Udyog Ltd (MUL), India's largest manufacturers of passenger cars, has decided to set up an aluminium foundry to produce cylinder heads and blocks and transmission cases to reduce the dependence on imports. The company's requirement of ... More

Royal group to set up shop in China

REGULATORY BODIES & RULINGS

DCA functioning `leaves much to be desired'
THE Joint Parliamentary Committee (JPC) on stock scam has called for further investigations in regard to transfer of funds by six corporate groups to Ketan Parekh even as it came down heavily on the quality of inspections carried out by the ... More

ALLIANCES & JOINT VENTURES

TCS, Clarinox join hands for Bluetooth tech
TATA Consultancy Services (TCS) and Clarinox Pty Ltd, Australia, a provider of embedded system solutions, have announced an alliance to offer comprehensive Bluetooth products and services to clients globally. Dr Ranbir Gupta, Head of wireless ... More

OUTLOOK

Indigo will trigger competition
A DAY after Tata Engineering announced the price of its mid-size car, the Indigo, its competitors maintain that the `C' segment will not witness the kind of discounting that is prevalent in the `B' segment. Their argument is that the `C' ... More

Maruti charts 3-year plan to gain market share
"MARUTI should start afresh" was the one liner that reflected the spirit and sentiment of the car major's forward looking statement coming from the top management. And yet the company's initiative in rationalising its costs, increasing its ... More

SAIL import bill to touch Rs 2,850 cr
THE total import bill of the public sector steel major the Steel Authority of India Ltd (SAIL) is set to increase to Rs 2,850 crore in the current fiscal. Sources told Business Line that in 2001-02, SAIL's expenditure on this account was ... More

PEOPLE

Monsanto chief quits
MR Hendrik A Verfaillie, President and Chief Executive of Monsanto Co, has resigned in the wake of a string of poor profit reports. Monsanto, in the first three quarters of the current fiscal, has reported losses of $1.7 billion on diminished ... More

NEW PRODUCTS & SERVICES

They come, they see and ... book Indigos
AT the Tata Engineering's corporate showroom here, Mr Kasturilal K. Wasan, Managing Director, Wasan Motors Pvt Ltd, seemed a happy man. No comparison to the Indica's debut; but people are coming to see the Indigo and he already has bookings. ... More

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Bank of India hires Deloitte as agent to recover NPAs

JPC moots wide-ranging changes in capital market regulations

DCA functioning `leaves much to be desired'

DoT seeks unlimited cellular competition

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Looking back
Dec. 8-Dec. 14
Encore to scale up Simputer output

`We will put Railways on savings track' — Mr V. Gujral, Vice-Chairman & CEO, Jindal Steel

I am ready to quit, says Mardia Chem chief

Cost auditors gear for shield against law suits