The Hindu Business Line : Saturday, February 22, 2003

£10-m contract for ductile iron pipes, fittings — UK co in talks with Electrosteel
YORKSHIRE Water Services Ltd (YWSL), a £ 600-million turnover public utility major in the UK belonging to the Kelda Group, is now in talks with Electrosteel Castings Ltd (ECL) for purchase of Ductile Iron (DI) pipes and fittings (on 50:50 basis) ... More

Starline travel mart from today
STARLINE Travels, an associate of the LMW Group has proposed to hold a travel mart in Coimbatore on February 22 and 23. The decade-old company, which was hitherto focusing on ticketing business alone, is now aiming to organise package tours to ... More

MK Electric to be Novar's global manufacturing hub
NOVAR Plc, a conglomerate with an interest in building solutions such as electrical accessories and fire alarms, plans to make its Indian subsidiary, MK Electric (India), into a global manufacturing hub for electrical products. According to Mr ... More

AWARDS & HONOURS

Award for Pepsi's Madurai plant
PEPSI'S Madurai bottling plant has won the Golden Peacock National Quality Award for the second successive year, according to a company statement issued here. The award was set up by the Institute of Directors (IOD) in 1991 to encourage total ... More

HUMAN RESOURCES

Tax sops sought for people development activity
THE new economy's highly competitive scenario requires specialised skills as well as multi-tasking to provide the cutting edge to business. And that's where training of managers, executives and shop floor employees has become an essential ... More

MERGERS & ACQUISITIONS

Raymond buys Rs 35-cr equity in Colorplus
RAYMOND Ltd has invested Rs 35 crore in the first phase of its acquisition of Colorplus shares. Mr P.K. Bhandari, Deputy Group President, Raymond Ltd, said that the remaining equity would be mopped up after a period of 39 months. The funding for ... More

NEW PROJECTS

Bengal ropes in Visaka for cement sheets unit
INDUSTRIALISTS having second thoughts over setting up of a unit in the communist parties ruled States fearing lifting off of subsidies by the governments and frequent close downs of the factories owing to labour strikes is a bygone ... More

ALLIANCES & JOINT VENTURES

ONGC irons out crude supply pact with HPCL
WHEN an exploration company, Oil and Natural Gas Corporation (ONGC), enters the refining business through acquisition of Mangalore Refineries and Petrochemicals Ltd (MRPL), domestic refiners like Hindustan Petroleum Corporation Ltd (HPCL) have ... More

CSIR in pact with Indigene Pharma
THE Council of Scientific and Industrial Research (CSIR) has joined hands with Indigene Pharmaceuticals, a bio-pharmaceuticals company to deliver safe and cost-effective medicines and an agreement to this effect was formalised here ... More

Biocon in tie-up for oral insulin
BIOCON India today announced a three-way Scottish research tie-up to develop novel oral insulin. The city-based biotech major will work with Hannah Research Institute of Scotland and its offspring venture, FFAST Solutions Ltd, to develop the ... More

SICK UNITS

BIFR door shut for Mardia Chem
MARDIA Chemicals Ltd (MCL) has become one of the first companies to be relieved by the Board for Industrial and Financial Reconstruction (BIFR) since banks and financial institutions (FIs) have moved against them to recover dues under the ... More

BIFR confirms winding up of HPF — Says Govt `buying time'
THE Central Government, promoters of the ailing Hindustan Photo Films Manufacturing Co Ltd (HPF), has been charged with `buying time' by the Board for Industrial and Financial Reconstruction (BIFR). The BIFR bench, while confirming its ... More

OUTLOOK

Honda lines up 4-stroke 150cc scooter
TWO-WHEELER manufacturer Honda Motorcycles and Scooters India is all set to stir up some excitement in the lacklustre domestic geared scooter market. Top sources said that the company is readying for the launch of a geared scooter that ... More

IOC aims at 30% share in Lanka
Indian Oil is the only company in India to be allowed marketing in Sri Lanka. More

TRENDS

`Norms neither altered nor diluted' — No large-scale delisting by foreign cos: Jaswant
THE Union Finance Minster, Mr Jaswant Singh, today categorically assured the Lok Sabha that the Government has not altered or diluted the guidelines governing foreign companies to provide 26 per cent equity to Indians. He also denied any ... More

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