The Hindu Business Line : Tuesday, April 01, 2003

Volvo all set to hike prices of models — Bid to neutralise VAT effect, says Managing Director
WITH VAT coming into effect from today, truck maker Volvo India Ltd is all set to increase the prices of its models with the Government failing to resolve the issue of sales tax exemption. "I think we have to increase the prices to neutralise ... More

Whirlpool to unveil new AC models soon
THIS summer is set to witness fresh competition in the air-conditioners category of the consumer electronics industry. Major players are working out strategies to strengthen their position. Not to be left behind in the race is Whirlpool of ... More

Pfizer defers Q1 results announcement
PFIZER Ltd has deferred the decision to announce its financial performance for the first quarter ended February 28, 2003 due to an appeal filed at the Mumbai High Court by shareholders of Parke-Davis India Ltd against the scheme of amalgamation ... More

MMTC pays Rs 10-cr interim

OVERSEAS BORROWINGS

Morepen closes GDR issue on Luxembourg
MOREPEN Laboratories has successfully closed its Global Depository Receipts (GDR) issue on the Luxembourg Stock Exchange, with its GDRs getting ``fully subscribed'', primarily by the European institutional investors. The GDR issue opened on ... More

ENVIRONMENT

Mercury contamination at Kodaikanal site — Greenpeace asks Hind Lever to permit a look-in
GREENPEACE India has asked Hindustan Lever Ltd to permit independent monitoring of its cleaning and remediation operations of its mercury-polluted thermometer factory site at Kodaikanal. According to the Greenpeace India Executive Director, Mr ... More

RESTRUCTURING

9 cos cease to be BSES subsidiaries
IN what is officially termed as part of a restructuring exercise, BSES today announced that its nine subsidiaries, including BSES Telecom Ltd, cease to be its subsidiaries. A company spokesman said, "The de-subsidiarisation of certain companies ... More

MERGERS & ACQUISITIONS

Jubilant Organosys take-over of Max biz completed
THE transition is over. Jubilant Organosys Ltd has formally taken over active pharmaceuticals ingredients (API) business of Max India from Monday. The company handed the final payment against the total consideration of Rs. 63.1 crore to ... More

NEW PROJECTS

PVR raises Rs 38 cr from ICICI Venture
PVR Ltd has raised Rs 38 crore from ICICI Venture as part of the funding to support its Rs 100-crore expansion plan. Of the balance, Rs 40 crore would be raised through debts and the rest through internal accruals.PVR currently has four cinema ... More

Green signal to Volkswagen
THE Andhra Pradesh Government is actively pursuing the German automobile major Volkswagen for their proposed car project in India. "We are the frontrunner and the carmaker is actively considering Andhra Pradesh as a destination. Soon we will ... More

PERFORMANCE

Hero Honda hits turnover target
THE country's largest two-wheeler maker, Hero Honda, said on Monday that its sales for the fiscal 2002-03 were 16.77 lakh units, a shade lower than the revised target of 17 lakh units for the year. Hero Honda had earlier scaled down its sales ... More

PEOPLE

Forienza is V-P of BD Biosciences

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