The Hindu Business Line : Friday, October 24, 2003

Accumulated losses exceeded networth: Electrolux Kelvinator
THE board of directors of Electrolux Kelvinator Ltd today met and noted that the accumulated losses of the company as on September 30, 2003 has exceeded the networth of the company. The necessary filings and reporting with the relevant ... More

Tata Power to set up separate trading arm; to seek CERC licence
TATA Power Company Ltd plans to set up a separate company for trading in power. The company will approach the Central Electricity Regulatory Commission (CERC) for trading licence, Mr Firdose Vandrevala said here on Thursday. TPC will also apply ... More

NFL pays Rs 292.92-cr dividend to Govt
NEW DELHI: National Fertilisers Ltd (NFL) has presented a dividend cheque of Rs 292.92 crore to the Government in respect of the equity stake held by it. The cheque was presented to the Prime Minister by the NFL Chairman and Managing ... More

MERGERS & ACQUISITIONS

Asian Paints buys 9.2 pc Govt stake in ICI at Rs 205
THE corporate profile of Asian Paints acquired a new splash of colour, with the company acquiring the 9.2 per cent stake in ICI (India) Ltd that was held by the Government at a price of Rs 205 per share on Thursday. Asian Paints could swing the ... More

Finolex Cables divests stake in Creole Holdings
FINOLEX Cables Ltd, has divested its entire share holding in the erstwhile subsidiary Creole Holdings Company Ltd. Announcing this on Wednesday, Mr D.K. Chhabria, Managing Director, Finolex Cables, said Creole was into property development, ... More

OIL stake to go up in Numaligarh
THE Government has approved the equity restructuring of Numaligarh Refinery Ltd (NRL), a subsidiary of Bharat Petroleum Corporation Ltd (BPCL), whereby Oil India Ltd's (OIL) stake in NRL will increase from 12.35 per cent to 26 per cent. The ... More

NEW PROJECTS

Visaka Ind plans Rs 50-cr expansion
VISAKA Industries Ltd (VIL), which commenced operations of its Midnapore plant this year, is planning to establish one more asbestos cement plant in Bangalore and also expand the capacity of its spinning unit here. According to the company's ... More

REGULATORY BODIES & RULINGS

Defaulting companies — DCA to set tough norms for director appointment
In case where a company fails to repay deposits or redeem debentures or pay dividend declared, the director of that company stands disqualified immediately on expiry of that one year from the respective due dates. More

ALLIANCES & JOINT VENTURES

Agro Tech signs deal with Reliance India to promote Sundrop
AGRO Tech Foods Ltd, a leading player in the edible oils and branded foods sector, has entered into a marketing tie-up with Reliance India Mobile offering a special scheme for the consumers of its Sundrop oil. Under the scheme, a customer, who ... More

DIVERSIFICATION

Mangalore Chem plans to diversify
MANGALORE Chemicals and Fertilisers Ltd (MCF) plans to diversify into other businesses while retaining its core activity in fertilisers to broaden its revenue stream. "Plans are being formulated to diversify keeping in mind integration with the ... More

BONUS ANNOUNCEMENTS

LGB announces bonus issue; opts for stock split
THE city-based auto component manufacturer L.G. Balakrishnan & Bros Ltd (LGB) has recorded a higher turnover and net profit in the second quarter of current fiscal compared to the corresponding period last year. The board of directors of the ... More

OUTLOOK

Sami Labs plans to expand presence in global market
THE Bangalore-based Sami Labs Ltd (SLL) has drawn up plans to expand its presence in the global market in the wake of the company winning three patents in the US. The company's three new active ingredients, Tetra-hydro-curcuminoids (THC), ... More

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