The Hindu Business Line : Tuesday, September 02, 2003

SPIC division bags transmission contract
SPIC SMO, the engineering services division of SPIC, has secured a contract for putting up a (400 v double circuit) transmission line in the 155 km stretch between Mysore and Nelamangala, in Karnataka. The contract has been received from the ... More

Reliance hikes product prices
RELIANCE Industries Ltd on Monday hiked prices of its polymer, polyester and fibre intermediate products. The hike is in line with rise in international prices of naphtha, used as raw material, over the last three months, analysts said. The ... More

CORPORATE DISPUTES

Star, Zee fight over Siticable's HITS project
SITICABLE'S head-end in the sky (HITS) project has become a major bone of contention with Star and Zee slugging it out. While Star claims that it has not yet signed on with Siticable (A Zee Telefilms subsidiary), Siticable has been using Star ... More

AUDITING

CESC accounts may undergo change after tariff finalisation: Auditors
CESC's auditors, Lovelock & Lewes, have made some comments about the company's accounts saying that since the 2002-03 tariff has not been finalised, the financial statements may undergo some changes whose impact cannot be ascertained at this ... More

GENDER

Reservation for women on cos' boards opposed
JOINING issue with a section of India Inc, a large number of professionals from the legal fraternity are opposed to the proposal of having a minimum mandatory number of woman directors on the board of a company. The Companies (Amendment) Bill, ... More

HUMAN RESOURCES

Taking Cognizant of milestone with `goodies'
CORPORATES have of late started sharing their accomplishments with their employees. This novel practice of celebrating every milestone achieved with the employees, who have actually strived hard to take the organisation forward, appears to have ... More

How FedEx gets staff to deliver
A cornerstone of the HR initiative at FedEx is the Guaranteed Fair Treatment Policy... More

MERGERS & ACQUISITIONS

ICICI Venture buys out Tatas in Tata Infomedia
ICICI Venture Funds Management Company Ltd has officially announced its acquisition of the 50 per cent controlling equity stake held by the Tata Group in Tata Infomedia Ltd (TIL). Including an open offer for additional 20 per cent at Rs 176 per ... More

HT to offload 20 pc stake to Henderson
HINDUSTAN Times Group is offloading 20 per cent stake to Henderson Global Investors. Confirming the sell-off, Ms Shobana Bharatiya, Vice-Chairperson, said Henderson Global is picking up equity in Hindustan Times Media Pvt Ltd, a company set up ... More

CORPORATE GOVERNANCE

Govt to consider corporate trust proposal today
THE proposal to set up a corporate governance trust is likely to be considered by the Union Cabinet on Tuesday. The Department of Company Affairs (DCA) has been planning to create a body to promote corporate governance to ensure professionalism ... More

NEW PROJECTS

D'damas to invest Rs 25 cr in SEEPZ facility
EYEING the Rs 8,000-crore organised Indian diamond jewellery market, the Gulf based, D'damas, a leading diamond house, and the Mumbai-based $32- million Gemplus Jewellery, plans to invest about Rs 25 crore in the manufacturing base in the ... More

REGULATORY BODIES & RULINGS

India Inc in a bind over SEBI directive on institutional directors
THE Securities and Exchange Board of India's latest directive to consider an institutional director as an independent director for deciding the composition of boards of listed companies has come in direct conflict to the position that is being ... More

DIVERSIFICATION

Tehelka to launch weekly newspaper
TEHELKA is to launch a weekly newspaper — Tehelka: People's Paper — which will come out with an investigative coverage coupled with issues on social and politics and business. Adopting a model of advance subscription to involve ... More

RIGHTS ISSUES

Shriram group defers rights issue proposal
THE Shriram group has "deferred" its rights issue, as the Dutch development finance company, FMO, has agreed to provide an assistance of 12 million euros to the two main finance companies of the group. FMO will extend a loan of six million ... More

OUTLOOK

Tata Rayerson targets Rs 700-cr turnover by '09
INDUSTRIAL materials management services provider Tata Rayerson Ltd, a 50:50 joint venture of Tata Steel and Rayerson-Tull of the US, has targeted a turnover of Rs 700 crore by 2009. In the current fiscal, the company hopes to generate a ... More

PERFORMANCE

Hyundai sales up 46.8 pc in Aug
HYUNDAI Motor India has announced a 46.8 per cent growth in August 2003 sales to 14,436 units. According to the company, backed by a surge in both export and domestic demand, sales of the flagship Santro went up 44.5 per cent to 11,843 units in ... More

Bajaj 2&3-wheeler sales rise 3 pc
BAJAJ Auto Ltd (BAL) registered a 3 per cent rise in total sales of 2 & 3-wheelers during August 2003, from the previous level of 1,14,286 units to 1,17,776 units. According to an official statement on Monday, 2-wheeler sales was up 2 per cent ... More

Hyundai strategy puts Terracan on terra firma
AN aggressive marketing strategy has hit pay dirt for Hyundai's sports utility vehicle Terracan. It has sold over 40 units in its first month prompting the company to order for another 60 units. The initial success of Terracan has more to do ... More

Maruti sales down 4 pc in August
MARUTI Udyog Ltd today said its sales in August fell by four per cent to 32,127 vehicles from 33,537 units it sold in the same month a year ago as a strike at its component vendor, DCM Engineering, affected its production. Maruti said in a ... More

Hero Honda sales up in August
NEW DELHI: Hero Honda Motors Ltd on Monday said its sales in August rose by six per cent to 1,45,730 units over the same month a year ago when the company had sold 1,37,264 units. The cumulative sales in the April-August period stood at ... More

ACC output, despatches up
ASSOCIATED Cement Companies Ltd (ACC) has clocked cement production of 11.72 lakh tonnes in August , marginally higher than the 11.04 lakh tonnes produced in the same month in the previous year. Despatches iincreased to 11.80 lakh tonnes ... More

Tata Motors tops 3-m production mark
MUMBAI: Tata Motors on Monday informed that it has crossed the production milestone of three million vehicles. The company, incorporated on September 1, 1945, rolled out its millionth vehicle in December 1991. Seven and a half years ... More

PEOPLE

NG Kannan is IOC's new Director (HR)
DR N.G. Kannan has taken over as Director (Human Resources) at Indian Oil Corporation Ltd (IOC). Dr Kannan joined IOC in 1969 and has handled several key assignments in the Marketing and HR Departments. He was serving as Executive Director ... More

Albert Hieronimus is new MD of MICO

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