Financial Daily from THE HINDU group of publications
Tuesday, December 24, 2002
Markets (Dec. 23)
BL 2501113.92 (-2.21)
BSE Sensex3329.01 (-7.61)
S&P CNX Nifty1076 (-3.30)
Dollar (Buy/Sell)47.97/48.10
Gold Std (10 gm)5575 (+10)

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ANNOUNCEMENTS


Dabur's risk management system by April
DABUR India is rolling out a risk management framework towards managing its business risks and assessing cost. Slated to be in place by April 2003, the framework will study risk exposure across departments and locations and detail procedures to ... More

Dunlop units in TN, Bengal to resume operations soon
THE operations at Dunlop India Ltd's (DIL) two factories - one at Ambattur in Tamil Nadu and the other at Sahaganj in West Bengal - are expected to recommence soon with the employees' unions at both the places and the management agreeing in ... More

Aurobindo launches Cefeprime
AUROBINDO Pharma Ltd (APL), the Hyderabad-based Rs 1,050-crore pharmaceuticals major, has announced the launch of Cefeprime, claimed to be one of the most advanced antibiotics in the world for the first time in the country. In a press release ... More

Avon Organics bags MNC order
AVON Organics Ltd (AOL), the Hyderabad-based pharmaceuticals manufacturer, has informed the stock exchanges that it has entered into a long-term international contract for the supply of one of its products with a global multinational company. In ... More

ACCOUNTING STANDARDS


CEOs, CFOs must okay accounts: Panel
THE Naresh Chandra Committee on Corporate Audit and Governance has recommended a slew of measures aimed at reducing the scope for " accounts fixing" by corporate India by increasing the level of penalties for corporate wrongdoings, besides ... More

PRIVATE PLACEMENT


IL&FS arm to invest Rs 10 cr in Malladi Drugs
IL&FS Investment Managers (IIML), private equity arm of Infrastructure Leasing & Financial Services (IL&FS), will be investing Rs 10 crore in Malladi Drugs. The Rs 10 crore private placement of equity will part-finance Malladi's capital ... More

PREFERENTIAL ALLOTMENTS


Som Distilleries plans pref offer
SOM Distilleries & Breweries Ltd (SDBL), the Bhopal-based producer of beer, whisky and rum, proposes to offer 50 lakh equity shares of Rs 10 each, either at par or at higher price to be worked out in terms of Securites and Exchange Board of India ... More

OPEN OFFERS


BSES backs open offer by Reliance
BSES Ltd today said it supported Reliance Industries Ltd's second open offer to acquire an additional 20 per cent of its equity share capital. In a statement signed by Mr K.D. Kulkarni, Director (Human Resources) on behalf of Mr S.S. Dua, ... More

AWARDS & HONOURS


R.R. Stones bags export award
HYDERABAD: R.R. Stones Pvt Ltd, a bulk exporter of granite products, has received a special export award for 2001-02 from Capexil ( formerly Chemicals and Allied Products Export Promotion Council). The company has registered an ... More

RESTRUCTURING


Hind Sanitaryware puts demerger plans on hold
THE Rs 215-crore Hindustan Sanitaryware & Industries Ltd (HSIL) has put on hold its proposed de-merger of the company's Rs 100-crore glass container division into a separate entity. The thorny issue that has come in the way of the ... More

MERGERS & ACQUISITIONS


9:20 swap ratio for Vikrant merger in JK
SHAREHOLDERS of Vikrant Tyres will receive nine shares in J.K. Industries (JKI) for every 20 held following its merger with the latter, the company informed Bombay Stock Exchange. This is an upward revision from the earlier swap ratio of two ... More

NEW PROJECTS


Tata Engg new division to deal used cars
TATA Engineering and Locomotive Company Ltd has created a new division within the company to develop a used car market for its cars. The division was created just about two months ago, Dr V Sumantran, Executive Director, Tata Engineering, told ... More

OUTLOOK


Tata Engg hopes to sell 1 lakh cars this fiscal
THE Tata Engineering and Locomotive Company Ltd is hopeful of selling one lakh passenger cars during the year ending March 31, 2003. In the first eight months of the current fiscal ended November 30, 2002, the company has sold over 63,000 ... More

Opto Circuits in talks with US company for manufacturing line
CLOSE to the buying out of a division of Palco Lab Inc, sensors maker Opto Circuits Ltd plans to divest a part of its equity in favour of another US scanner manufacturer in lieu of gaining manufacturing rights of entire products range currently ... More

Tata Engg expects `substantial volumes' from MG Rover deal
TATA Engineering and Locomotive Company Ltd has just recently concluded the talks with MG Rover of UK for export of the Indica cars. These cars would be sold in the European market under the Rover brand name. Dr V. Sumantran, Executive ... More


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