The Hindu Business Line : Friday, October 17, 2003

L&T, M&M win defence contracts
LARSEN & Toubro and Mahindra & Mahindra are among the companies that have been awarded defence equipment contracts by the Centre in the wake of the segment being opened up to private sector participation. "I am informed that so far 13 letters ... More

Coke admits pesticide drag on India Q3 performance
THE shadow of the pesticide controversy in India seems to follow close on the heels of global soft drink major Coca Cola, with the company admitting today that the controversy has in fact been a drag on its financial performance in India for the ... More

Vimta Labs to defer interim dividend plan
THE board of directors of Vimta Labs Ltd has decided to defer the proposal of interim dividend in view of the immediate expansion plans. According to the unaudited financial results for the second quarter ended September 30 the turnover was ... More

Praxair safety record

OPEN OFFERS

Herbertsons: Mallya raises open offer price to Rs 215
THE UB group Chairman, Mr Vijay Mallya, has upped the offer price to the shareholders of Herbertsons to Rs 215 per share in his bid to retain control over the country's third largest spirits company. Mr Mallya's offer is a counter to his rival, ... More

AWARDS & HONOURS

Komal Chhabria wins young achievers' award
EXECUTIVE Director of Shaw Wallace & Co, Ms Komal Chhabria Wazir, has been chosen as the winner of the Young Achievers' Award 2003 in the field of business instituted by the Society magazine. She was declared the winner by a panel ... More

COURTS/LEGAL ISSUES

Prosecution for cheque bouncing — Where does the nominee director stand?
THERE is a debate over whether a nominee director enjoys full immunity under the newly enacted provisions of the Negotiable Instruments (NI) Act. In a prosecution under Section 141(l) of the NI Act, the crucial test ... More

FINANCIAL PERFORMANCE

Blue Dart Express second quarter net up 38 pc
BLUE Dart Express Ltd, the air express, courier and logistics company, has recorded a net profit of Rs 6.64 crore in the second quarter, an increase of 38 per cent over the Rs 4.81 crore recorded in the same period last year. The company ... More

MERGERS & ACQUISITIONS

Reliance to buy FLAG Telecom for $207 m
RELIANCE Infocomm has announced its plan to acquire FLAG Telecom, an international provider of wholesale telecom network transport and communications, for an aggregate amount of $207 million (around Rs 1,000 crore). The Agreement and Plan of ... More

Citigroup Global picks 5 pc stake in SSI
THE Chennai-based SSI Ltd has informed the NSE that Citigroup Global Markets (M) Pvt Ltd has a 5.094 per cent stake in the company as on October 15. The stake is believed to have been acquired through open market transactions. According to ... More

Reliance plans to hike stake in IPCL to 51%
RELIANCE group is planning to increase its stake in IPCL to 51 per cent by acquiring additional shares from the Government, Mr Anil Ambani, Vice-Chairman and Managing Director, Reliance Industries Ltd (RIL), said today. Addressing a press ... More

ALLIANCES & JOINT VENTURES

Adobe, TCS join hands
ADOBE Systems Incorporated on Thursday announced a strategic alliance with Tata Consultancy Services (TCS), one of the world's largest global software services and consulting organisations. The alliance will enable TCS to integrate and resell ... More

DIVERSIFICATION

Tata Motors forays into bus body building
TATA Motors Ltd (TML) has entered the truck body building activity and the first customised vehicle has been delivered to a Coimbatore-based client for transportation of cement in bulk. The company plans to enter bus body building business in a ... More

SICK UNITS

Centre unenthusiastic to FACT revival proposal
CONTRARY to expectations, the Union Government has taken a lukewarm response to the revival proposal of the public sector Fertilisers and Chemicals Travancore Ltd (FACT) at nearby Udyogamandal. A highly placed official of the company told ... More

OUTLOOK

Infocomm capex outlay set at Rs 8,500 crore
THE capital expenditure outlay for Reliance Infocomm Ltd will be Rs 8,500 crore over the next 18-24 months, according to Mr Anil Ambani, Vice-Chairman and Managing Director, Reliance Industries. Reliance Infocomm has already recorded a cash ... More

PERFORMANCE

Colgate continues to sparkle
ONCE again, continuing the trend which began in 2002-03, Colgate-Palmolive India has chopped its advertising spend to deliver a robust increase in its post-tax profits, even as the sales environment for its products remained challenging. For ... More

Refining biz to the fore in Reliance performance
THE second quarter ended September 30 has been one of a command performance from the petroleum refining business for Reliance Industries even as its petrochemicals business seems to have under-performed. The 10.35 per cent growth in turnover, ... More

Toyota rolls out one lakh vehicles from Bidadi plant
THE Director of Toyota Kirloskar Motor (TKM), Mr Satoshi Aoki, has said that the company has rolled out one lakh domestically produced vehicles from its production facility at Bidadi near Bangalore. In a press release here on Wednesday, Mr ... More

Metaljunction registers 263 pc growth in April-September
METALJUNCTION.COM Pvt Ltd, a 50:50 joint venture of Tata Steel and SAIL, has transacted business worth Rs 704.78 crore during the period April-September 2003. This marks a rise of 263 per cent over the business transacted during the ... More

PEOPLE

New JMD for APTransco
HYDERABAD: Mr G. Sai Prasad, an IAS officer, assumed charge as the Joint Managing Director (JMD) of Transmission Corporation of Andhra Pradesh (APTransco) on Thursday. ... More

Former HSE ED joins Nava Bharat Ferro

NEW PRODUCTS & SERVICES

Win Medicare targets 11 pc turnover growth
THE Delhi-based pharma company, Win Medicare (P) Ltd, has launched a medical gel used to treat scars, called Contractubex. The gel is a patent formulation from Germany's Merz GmbH and has been used by surgeons, gynaecologists and ... More

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