The Hindu Business Line : Saturday, August 02, 2003

Dr Reddy's plans to sell Pondy unit
DR REDDY's Laboratories Ltd, the city-based pharmaceutical giant listed on the New York Stock Exchange (NYSE), proposes to dispose of its manufacturing unit located at Thiruvandarkoil near Mannvipet in Pondicherry. In a notice convening 19th ... More

Pantaloon to invest Rs 100 cr in retail expansion project
PANTALOON Retail India Ltd is to invest Rs 100 crore in the next two years for expanding its retail stores across the country. Under the proposed expansion plan, the company is planning to lease out additional 9 lakh sq.ft. area and reach the ... More

West Coast Paper to pay 85% dividend
THE West Coast Paper Mills Ltd (WCPML) of the S.K. Bangur group has declared a dividend of 85 per cent per Rs 10 share for the fiscal 2002-03 against 65 per cent in the previous year. The percentage of dividend payout is claimed to the highest in ... More

Aurobindo Pharma to mull share split
A meeting of the board of directors of Aurobindo Pharma Ltd (APL) would be held on August 9 to consider subdivision of shares of Rs 10 each of the company into smaller denomination as the board might decide, the company informed the stock ... More

Kesoram seeks exemption from electricity duty
KESORAM Cement has appealed to the Andhra Pradesh Government to exempt it from the levy of electricity duty on generation of power from its captive power plant, as it had become a "major burden" for the power-intensive industry. The AP ... More

Centre clears MFL proposal on interest reduction
MADRAS Fertilizers Ltd has informed the stock exchange that the Centre has approved the proposal for reduction in interest on outstanding loans amounting to Rs 219.97 crore that it owes to the Government. The interest has been brought down to 7 ... More

CORPORATE DISPUTES

Herbertsons case: Tribunal rules in favour of open offer
WITH a rap on the knuckles of SEBI, the Securities Appellate Tribunal (SAT) on Friday reversed the regulator's order in the widely reported Herbertsons case and asked the Chhabrias to make a public offer within three months for 20 per cent equity ... More

Healthcare biz — Nandas spat continues
WILL the fault lines developing in the corporate structure of Escorts Ltd change the character of operations of the institute that is at the heart of the imbroglio? The process of "corporatisation'' of the Escorts Heart Institute and Research ... More

FINANCIAL PERFORMANCE

Adlabs Q1 net at Rs 3.8 cr

HUMAN RESOURCES

`Age factor dominates corporate recruitment'
SHOULD intellect or age set the stage for recruitment? According to a recent survey conducted by research agency NFO India age defines hiring by the corporate sector. Comments Mr Gautam Nath, Director-Corporate Services, NFO India, "According ... More

NEW PROJECTS

Fortune Hotels plans to add 5 properties
FORTUNE Park Hotels, a wholly-owned subsidiary of ITC Hotels Ltd, has announced it will manage the recently-commissioned Rs 26-crore Four Star Fortune Katriya Hotel here, as a part of the Welcome group initiative. It has also embarked on an ... More

Berger to open Jammu factory in mid-2004
THE Jammu factory of Berger Paints India Ltd, the company's sixth factory, will be commissioned some time in July/August 2004. Explaining the rationale for setting up the factory in a trouble-torn region, Mr K.S. Dhingra, Chairman of the ... More

RCF to raise Rs 75 cr for methalamine plant
RASHTRIYA Chemicals and Fertilizers Ltd (RCF) is in talks with financial institutions for raising Rs 75 crore to fund its new methalamine plant and upgradation of its nitric acid plant. The amount will be part of RCF's planned investments of Rs ... More

ALLIANCES & JOINT VENTURES

Rane Engine signs pact with German co
RANE Engine Valves Ltd (REVL) has entered into a five-year supply contract with Deutz, a German company that manufactures diesel and gas engines for a wide range of applications. Consequent to the contract, REVL has begun investments in ... More

SECURITY

Topsgrup plans retail outlet for security equipment
BE it copyright infringement or crazed fan attacks, corporate risk analysis or shielding VIPs, crime and how to defend against it is on top of everybody's mind. Corporates are wary about outsiders on their premises or on their networks, about ... More

SICK UNITS

Fort Gloster pins hopes on VRS, debt revamp for turnaround
A SUCCESSFUL debt restructuring programme, a possible voluntary retirement scheme (VRS) for the workers and an upsurge in the electrical cables industry may gradually turn around the ailing Fort Gloster Industries Ltd. According to Mr V. ... More

Pearl Engg gets BIFR nod to raise funds
PEARL Engineering Polymers Ltd (PEPL), manufacturers of PET resin, has received the Board for Industrial and Financial Reconstruction's (BIFR) nod to raise funds from strategic investors for rehabilitation of the company. This is, however, ... More

OUTLOOK

Tata Chem sees growth in knowledge chemicals
TATA Chemicals Ltd (TCL) is looking at acquisitions and growth opportunities in the area of knowledge chemicals, such as biotech and speciality chemicals. Knowledge chemicals are broadly described as those based on research. Globally, ... More

PERFORMANCE

Coal India sales higher in Q1
COAL India Ltd (CIL) registered overall growth in coal sales billing, sales realisation, production, coal offtake, dispatch to power sector and wagon loading during the first quarter of the current fiscal. According to CIL source, the billed ... More

Maruti July sales rise 70 pc
INDIA'S largest car maker, Maruti Udyog Ltd today said its sales in July surged by 70 per cent to 41,795 vehicles over 24,604 vehicles in July last year, powered by robust sales of entry-level car, Maruti 800. This includes export of 5,250 ... More

Bajaj Auto July sales up 6 pc
BAJAJ Auto Ltd (BAL) on Friday reported a six per cent rise in two and three-wheeler sales for July to 1,20,837 units from the 1,14,028 units sold in July 2002. Total two-wheeler sales increased by 3.6 per cent to 1,01,162 units (97,675 units), ... More

Hero Honda April-July sales up 7.8 pc
TWO-wheeler maker, Hero Honda Motors Ltd, has registered an increase of 7.8 per cent in cumulative sales for the period April-July 2003, selling 6,01,930 motorcycles, compared to 5,58,041 units in the corresponding period last year. The company's ... More

Bookings for Chevrolet Optra exceed target
GENERAL Motors India's (GMI) latest offering in the market - the Chevrolet Optra - is showing the potential of becoming a money-spinner for the company. The company claims that over 1,000 units of the Optra have been booked and sold ... More

TVS Motor posts 3 pc rise in July sales
TVS Motor Company Ltd sold 97,613 vehicles in July 2003, three per cent more than 95,119 sold in July last year. Motorcycle sales, at 57,227 units, stood four per cent higher than the corresponding previous period's figure. The sales of TVS ... More

Hyundai sales grow 42 pc
CHENNAI: Hyundai Motor India Ltd on Friday said that it sold 13,033 units in July, a 42 per cent year-on-year growth. Sales of the flagship Santro grew 29 per cent, from 7,666 units to 9,891 units, while Accent sales more than doubled to ... More

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