Financial Daily from THE HINDU group of publications
Friday, September 26, 2003
Markets (Sept. 25)
BL 2501530.93 (-6.92)
BSE Sensex4297.15 (-59.24)
S&P CNX Nifty1357.20 (-14.85)
US Dollar (Buy/Sell)45.80/45.93
Gold Std (10 gm)5870 (+90)

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CORPORATE

ANNOUNCEMENTS


Escorts puts off annual meet
ESCORTS Ltd on Thursday announced the postponement of its AGM scheduled for September 30 to a later undisclosed date. While the company maintains that the postponement has been due to unavoidable procedural circumstances, the move is being seen ... More

Hind Sanitaryware shelves jt venture plans with German co
HINDUSTAN Sanitaryware and Industries Ltd (HSIL) has shelved its plans to float an equal joint venture assembly facility with German firm Grohe AG. "We are happy with the current arrangement wherein we exclusively market Grohe AG products in ... More

Siemens to supply gas turbines to Konaseema
THE Energy group of Siemens Ltd would be supplying two gas turbines to the Konaseema Power Project in Andhra Pradesh. The German company is also looking towards participation in the 1,000 MW power plant to be established in Surat by the Torrent ... More

KEC International gets new orders worth Rs 115 cr
KEC International Ltd has bagged two large contracts aggregating approximately Rs 115 crore (UAED 88 million) from Abu Dhabi Water and Electricity Authority (ADWEA) in Abu Dhabi. The company's present order book position stands at Rs 1,600 crore ... More

Parryware to set up electronic flushing urinals in schools
PARRYWARE, the sanitaryware division of EID Parry Ltd, has bagged orders for the installation of hands-free integrated electronic flushing urinal systems in two schools. According to a press release, the Delhi Public School in Gurgaon will be ... More

Asahi India Glass clarifies
With reference to the report `Asahi Glass evokes interest on open offer rumours' which appeared in these columns on September 24, Asahi India Glass writes: "We deny any such move of making of open offer either by Asahi Glass Co Ltd, which is our ... More

PREFERENTIAL ALLOTMENTS


Shasun's pref allotment gets shareholders' nod
AT an Extraordinary General Meeting on Thursday, shareholders of Shasun Chemicals and Drugs approved a preferential allotment of up to 9.40 lakh equity shares of Rs 10 each at a price of Rs 244 to the US-based GMO Emerging Markets Fund. ... More

OVERSEAS BORROWINGS


BILT to raise $75 m through GDR, FCCBs
THE paper manufacturer, Ballarpur Industries Ltd (BILT), on Thursday announced that it would raise $75 million (about Rs 342 crore) from a combination of a global depository receipts (GDRs) issue and private placement of foreign currency ... More

INSIGHT


On building lasting institutions
In these days of dramatic corporate collapse, it is unbelievable that an organised entity lasted as long as a million years. When you read a thing like that you want to look around to see what kind of organisations have lasted long. More

STOCK MARKETS


Marc Faber bullish on Asia — But bearish on US market
INVESTMENT guru Marc Faber is bullish on the Asian markets including India but is bearish on US and European markets. Mr Faber of "The Gloom, Boom and Doom" report fame, who is in India, feels that the money is expected to shift from bonds to ... More

RESTRUCTURING


ICI to complete revamp exercise by end-fiscal
ICI India Ltd hopes to complete the restructuring exercise undertaken by it before the end of this financial year. This involves exiting completely from the explosives venture, and divesting its rubber chemicals and nitro cellulose businesses, ... More

MERGERS & ACQUISITIONS


ONGC set to acquire HPCL stake in Mangalore Refinery
MOVING a step closer to merger, Oil and Natural Gas Corporation (ONGC) is set to buy out Hindustan Petroleum Corporation Ltd's (HPCL) stake in Mangalore Refinery and Petrochemicals Ltd (MRPL) for Rs 1,121.75 crore. "ONGC board on Wednesday ... More

US agri major buys Prestige Foods' assets
IN its efforts to ensure a bigger presence in the country, the US agri-business giant Bunge, through its Indian subsidiary Gee Pee Ceval Proteins and Investment, has acquired the assets of Prestige Foods Ltd. Bunge said the assets acquired ... More

CORPORATE GOVERNANCE


Stand firm on ethics, values: J.J. Irani
IT is possible for a private company to stand firm on its ethics and values and yet do business if the management has the conviction, says the Tata Sons Director, Dr Jamshed J. Irani. Claiming that the Tata group has always stood for its values ... More

NEW PROJECTS


Coimbatore Residency charts expansion plan
THE Residency has, within a decade of commencement of operations in Coimbatore, embarked on an expansion plan. The spurt in occupancy coupled with the growth in business, particularly in the last 12 to 15 months is said to have compelled the ... More

TRADE & LABOUR UNIONS


Chittivalasa jute mill impasse continues
THE impasse at Chittivalasa jute mill is continuing though the State Government has issued three orders referring the dispute over implementation of the Section 9 (A) in the mill to a labour court, prohibiting any further continuation of strike ... More

ALLIANCES & JOINT VENTURES


Glenmark, Canadian co tie-up for cardiac drug supply
GLENMARK Pharmaceuticals has tied up with Canadian-based Apotex for supply of a new generation bulk drug in cardiac segment in the US market. The pharma firm has already started supplying developmental quantities to Apotex and supply of ... More

EVENTS


Companies told to keep pace with changing scenario
CORE competencies of a company or an organisation should not become core rigidity. Companies and organisations should always remember that they need to continuously keep pace with the fast-changing scenario and evolve strategies to transform the ... More

SICK UNITS


TRL promoters to submit final proposal soon
THE Coimbatore-based Dinosaur Industries Ltd (DIL) will soon submit a final and revised proposal for reviving the ailing Travancore Rayons Ltd at nearby Perumbavoor, based on the discussions the company had with the Cabinet Sub-Committee on ... More

OUTLOOK


Casio India bets on digital cameras for big turnover
AFTER establishing its name in the Indian consumer electronics market Casio India Company Pvt Ltd, a 100 per cent subsidiary of the $6-billion consumer electronics major Casio, Japan, is now expecting its digital cameras range to give a further ... More

PERFORMANCE


RINL posts Rs 521-cr profit
VISAKHAPATNAM: The Rashtriya Ispat Nigam Ltd (Vizag steel plant) is on the growth path after achieving a turnaround during the last financial year and its performance during the current year is very satisfactory, Mr B.K Panda, the Chairman ... More
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ONGC set to acquire HPCL stake in Mangalore Refinery


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In Focus
Cola Controversy
The Cable tangle
Indo-China Relations
Telecom Competition
Oil PSUs: Disinvestment dilemma
In Depth
In Kashmir
Simple Economics
Slowburn
Tax Talk
NRIs & Investment Avenues
Corporate Governance

Looking back
Sep. 14-Sep. 20
Row between RIL, PSU oil marketing cos — Law Ministry says it is too premature for intervention

Business Standard offers 13 pc stake to Financial Times

Green Summit begins — India Inc shedding crocodile tears: NGOs


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