The Hindu Business Line : Friday, July 04, 2003

IVRCL to issue stock options
IVRCL Infrastructure and Projects Ltd has decided to offer three lakh options convertible into equity shares of nominal price of Rs 10 each at a price to be determined as per norms to its permanent employees through Employees Stock Options Plan ... More

COMPANY LAW

DCA may soften its stand on `pyramid' set-up
"The proposed ban on pyramid structure would take away a business ease" and would hamper the operations of many multinational companies in the country, Mr Ashok Chhabra said. More

FAPCCI to host workshop on Companies Bill
THE Federation of Andhra Pradesh Chambers of Commerce and Industry (FAPCCI) is organising a daylong workshop on Companies (Amendment) Bill, 2003, on July 8 here to discuss and analyse various the provisions of the Bill. "The workshop will ... More

MANPOWER

IPCL VRS to cost Rs 150 cr
THE voluntary retirement scheme (VRS) that was offered to Indian Petrochemicals Corporation Ltd (IPCL) during the first week of June will cost the company over Rs 150 crore. Considering the job profile of those who have opted for the VRS, IPCL ... More

RESTRUCTURING

Fiat India plans to recast capital
FIAT India, working in the shadow of decisions abroad to rehaul its parent, will be restructuring its capital to nullify the effect of accumulated losses. While press reports in the past pegged these losses at several hundred crores, the ... More

MERGERS & ACQUISITIONS

US co offers to buy into Exide — A move towards settlement on brand name use?
THE $3.5 billion Exide Technologies, the US-based battery giant, has offered to buy a strategic minority stake in the Rajan Raheja controlled Indian rival — Exide Industries Ltd. This is seen as part of an out-of-court settlement between ... More

ICRA picks up 33 pc stake in Online IndiaCapital
RATING agency ICRA Ltd is to widen its role in the mutual funds industry by picking up stake in a mutual funds information Web Site and collaboration with Moody's Investors Service for rating of mutual funds. Moody's is the majority shareholder ... More

NEW PROJECTS

Tata Power plans 120-MW plant at Jamshedpur
TATA Power Company plans to set up a 120 MW coal-fired power plant at Jamshedpur at an investment of around Rs 480 crore. The project is expected to be completed by September 2005 and TPC plans to sell this power through the northern grid as per ... More

IOC mulls plant to convert residue coke to petrol
INDIAN Oil Corporation may set up a plant for converting refinery residue coke into LPG and petrol. The plant is likely to be at its Koyali refinery, according to Mr M.S. Ramachandran, Chairman and Managing Director, IOC. The decision to set ... More

Flipper Clipp plans to expand product base
FLIPPER Clipp Power Systems Private Ltd, a Chennai-based power equipment systems manufacturer hopes to enhance its market presence by expanding its product base and innovative marketing. Mr Praveen Menon, Director-Sales and Operations, told ... More

ALLIANCES & JOINT VENTURES

Stanchart arm to invest in NDTV
STANDARD Chartered Private Equity Ltd (SCPEL) will be investing around $11 million in television company NDTV. SCPEL is the global private equity arm of Standard Chartered Bank, based in Singapore. NDTV has entered into an agreement with SCPEL, ... More

INTERVIEW

MMTC targets Rs 1,000-cr biz with China
MMTC, a golden super star trading house, is all set to make a focussed foray into the competitive Chinese market in the supply of minerals in the current fiscal by targeting Rs 800 crore in export of minerals and Rs 200 crore of met coke import, ... More

STANDARDS & BENCHMARKS

Parryware gets ISO certification
SANITARY products maker Parryware has obtained the ISO9001:2000 certification for its quality management system covering its three manufacturing facilities at Alwar, Ranipet and Dewas and its marketing and human resource departments. ... More

OUTLOOK

Indian Hotels sees a better year ahead
FISCAL 2003-04 appears to have started off on a strong note for The Indian Hotels Company Ltd (IHCL) that operates the Taj hotel chain. According to senior company officials, who cited specific instances of growth, June occupancy level was ... More

`India is a strategic market for Coke'
INDIA has emerged as one of the fastest growing markets for Coca-Cola Company globally. Coca-Cola India was completing a decade in the country this year since it re-entry, Mr Patrick Siewert, Group President, East & South Asia, told ... More

Lexmark bullish on India
PRINTER manufacturer Lexmark International plans to get aggressive in the Indian market, targeting the corporate and retail segment. "We see major potential in the Indian market and are quite bullish on it," said Mr Ng Chee Soon, Managing ... More

PERFORMANCE

Bhilai Steel Apr-June production up 24%
THE total saleable steel production of Bhilai Steel Plant (BSP) belonging to Steel Authority of India Ltd during April-June 2003 was 9.89 lakh tonnes marking a growth of 23.8 per cent over the corresponding period of the previous year. In terms ... More

For BAL, it's a case of defending leadership, margins
ANNOUNCING Bajaj Auto Ltd's 2002-03 results in mid-May 2003, brothers Rajiv and Sanjiv Bajaj seemed an optimistic duo. Post-tax earnings were up 3.32 per cent at Rs 538 crore in the motorcycle market which was feared to decelerate and ... More

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