The Hindu Business Line : Wednesday, September 03, 2003

Alto to cost Rs 23,000 less
IN a bid to shore up volumes in the compact car segment, Maruti Udyog Ltd (MUL) today slashed prices of two versions of the `Alto' by Rs 23,167 (ex-showroom Delhi). Alto LX will now cost Rs 2.65 lakh, down from Rs 2.88 lakh, while the Alto LXi ... More

Indo Rama Synthetics hikes product prices

PREFERENTIAL ALLOTMENTS

Preferential issues: SEBI panel moots lock-in period
THE primary market advisory committee (PMAC) of the Securities and Exchange Board of India (SEBI) has recommended that preferential shares should carry lock-in period, be issued only for cash consideration and not in the form of swap. Pointing ... More

AWARDS & HONOURS

NTPC best PSU employer, says survey
NATIONAL Thermal Power Corporation (NTPC) has been rated as best employer among public sector undertakings for 2002-03 in a `Best Employer' survey carried out by Business Today and Hewitt Associates. Overall, in the public as well as private ... More

COURTS/LEGAL ISSUES

Sahara alleges contempt of court by Bradford
SAHARA Media Entertainment Ltd (Sahara) filed a petition under Contempt of Court Act, before Mr Justice Pinaki Chandra Ghose of the Calcutta High Court for alleged violation of the order passed by Mr Justice Ghose on May 12, 2003. On May 12, Mr ... More

Kerala HC notice to CSE, Pepsico

HUMAN RESOURCES

Andhra Sugars completes 55 years sans strikes
NOT even a single strike by employees in 55 years of existence? Hard to believe isn't it. But, in the case of Andhra Sugars, one of the oldest companies in Andhra Pradesh, it is true. Not just a history of no strike or unrest by the employees, ... More

MERGERS & ACQUISITIONS

Handsome returns for group cos from Tata Info sale
THE sell-off by the Tata group of its 49.99 per cent stake in Tata Infomedia Ltd to ICICI Venture on Monday is set to bring in handsome returns to group companies that had held the shares. These companies are Tata Power, Tata Steel, Tata Motors ... More

CORPORATE GOVERNANCE

Corporate governance trust cleared
THE Union Cabinet today approved the setting up of a `National Foundation for Corporate Governance' as a trust and an amount of Rs 10 crore has been extended to it as grant-in-aid. Managing the trust will be a three-tier body comprising a ... More

NEW PROJECTS

Volkswagen may locate plant in Vizag SEZ
THE German automotive major Volkswagen AG, which is in the process of identifying a place to locate a greenfield automobile plant in India, has zeroed in on the special economic zone (SEZ) coming up near Visakhapatnam city in Andhra ... More

Indian Rayon plans capacity expansion
INDIAN Rayon Industries Ltd (IRIL), in a bid to drive profitability growth in its rayon division, is looking at a capacity expansion of its viscose filament yarn and going down the value chain in its chlorine business. Having attained a ... More

REGULATORY BODIES & RULINGS

Mallya's petition to review order on Herbertsons rejected
THE Securities Appellate Tribunal on Tuesday threw out a petition filed by Mr Vijay Mallya and United Breweries Holdings Ltd (UB Holdings) to review its previous order dated August 1 directing Mr Kishore Chhabria to make an open offer to buy 20 ... More

ALLIANCES & JOINT VENTURES

Ranbaxy, Alltech join hands for dairy product
RANBAXY Laboratories Ltd on Tuesday said that its Animal Health Division has signed a marketing agreement with Alltech Biotechnology (Alltech) for YeaSacc*1026 Bolus, a product in the dairy cattle segment. According to Mr Chris King, General ... More

INTERVIEW

Neuland to outsource low-value intermediates
APART from learning lessons from the setbacks suffered earlier, Neuland Laboratories Ltd (NLL), the Hyderabad-based pharmaceutical company, claims to have evolved better strategies to reduce its cost of production, improve yields and enhance ... More

VENTURE CAPITAL

APIDC-Venture Cap funds 3 biotech cos
APIDC-Venture Capital has announced investments of $1.62 million (Rs 8.1 crore) in three US-Indian biotech companies. In the first batch of funding from its recent Biotech Venture Fund, it has put in $5,40,000 each in Bioserve Biotechnologies, ... More

DIVERSIFICATION

NTPC to enter into captive coal mining
National Thermal Power Corporation (NTPC) has decided to enter into captive coal mining activities, so that it can get the required quantity of power grade clean coal for its future needs, instead of depending on State-owned coal ... More

OUTLOOK

Royal Philips may invest $150 m more in Indian arm
ROYAL Philips Electronics, the parent of Philips India, is likely to bring in fresh investments topping $150 million in the next few years to renew its products thrust in the Indian market as it holds promise for greater sales among Asian peers, ... More

Bajaj to launch new bikes; plans job cuts
LEADING two-wheeler manufacturer, Bajaj Auto Ltd is looking to strengthen its position in both the motorcycles and the sluggish scooters market this year. "We are planning to launch new models of motorcycles and scooters in the next 12 months. ... More

PERFORMANCE

Haldia Petro's finished products exports up
HALDIA Petrochemical Ltd's efforts to push exports of value-added exports has received a boost with several overseas manufacturers of plastics products now outsourcing a part of their production from HPL. Sources said that at least three ... More

PEOPLE

6-member board for Dabur Pharma
DABUR Pharma Ltd (DPL), the newly-formed pharma company, has put in place a six-member board to provide strategic inputs and direction to the new company. The company proposes to strengthen its board with the induction of independent directors, ... More

Shantanu Banerjee moves to Indo Rama

TRENDS

A company which runs errands for you
IT is a service that gives the customer an extra hour every day, according to the booklet from Service Square. The services include arranging for a gardener, aquarium maintenance, organising tours, pilgrimages, picnics, housecleaning, bill ... More

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