The Hindu Business Line : Saturday, November 08, 2003

Elgi Equipments bags GMDC order worth Rs 3.9 cr
ELGI Equipments Ltd, the Coimbatore based air compressor manufacturer, has won an order for supply of oil-free screw compressors from Gujarat Mineral Development Corporation (GMDC) for its thermal power plant. It has also inked a deal to supply ... More

IOC earmarks Rs 2,400 cr for marketing revamp
INDIAN Oil Corporation plans to spend Rs 2,400 crore on a marketing revamp during this financial year. This includes investing Rs 1,000 crore on retail initiatives alone, Dr N.G. Kannan, Director (Marketing), said here. The company has set a ... More

TV18 promoters sell 1 m shares
TELEVISION Eighteen India Ltd (TV18) on Friday said its promoters sold their one million shares and raised over Rs 15 crore. The promoters will infuse the entire amount thus mobilised into the company through a preferential issue, the company ... More

GMMCO may double its investment in rental business
GMMCO Ltd, a CK Birla group company associated with Caterpillar Inc of the US, is likely to double its investment in rental business in the coming year. The Rs 600-crore company is aggressively pursuing rental business and has so far invested ... More

Dr Reddy's presentation at American Heart forum
DR REDDY's Laboratories said here on Friday that an abstract describing preclinical research in Dr Reddy's atherosclerosis therapeutics program was selected for presentation on November 9 at the annual American Heart Association Scientific ... More

RESTRUCTURING

Sri Vasavi to double ferro chrome capacity
HAVING turned the corner during the second quarter of this fiscal, Sri Vasavi Industries Ltd has embarked upon a major restructuring programme. According to company sources, Sri Vasavi has decided to nearly double the capacity of its ferro ... More

MERGERS & ACQUISITIONS

ITC buys paperboard unit of Bilt for Rs 233 cr
ITC Ltd has announced that it would acquire the paperboard division of Bilt Industrial Packaging Company Ltd (BIPCO) for Rs 233 crore. The two companies have entered into an agreement that would enable ITC to acquire BIPCO's paperboard ... More

Bhansali Engg buys Greaves polymer plant
BHANSALI Engineering Polymers Ltd has acquired a 20,000-tonne polymer unit of Greaves Ltd. BEPL plans to plough in further investments to increase its total capacity to 90,000 tonnes per year. The Rs 100-crore company plans to invest Rs 75 ... More

NEW PROJECTS

Dr Reddy's floats arm in South Africa
DR Reddy's Laboratories Ltd announced here on Friday that it had floated a subsidiary in South Africa. In a press release, Dr Reddy's said the subsidiary — Dr Reddy's Laboratories Pvt Ltd, South Africa (Dr Reddy's SA) — was started ... More

Bobst's Pune unit to become EOU
BOBST India Pvt Ltd, which supplies machines for the packaging industry, is ramping up its portfolio to include manufacturing of machines at its Pune facility. Talking to presspersons, Mr Subhasis Roy, Vice-President (Sales), Bobst India, said ... More

Aimil Pharma to set up plant in HP
AYURVEDIC and herbal medicine manufacturer Aimil Pharmaceuticals (I) Ltd has outlined an aggressive growth plan for the next couple of years. The company expects to clock a turnover of Rs 50 crore in the current fiscal and hopes to double this by ... More

Samsung's new refrigerator plant inaugurated
SAMSUNG India Electronics Ltd's (SIEL) new high-tech and advanced refrigerator facility at Noida, was inaugurated on Friday by Mr Ashok Pradhan, Minister of State for Communications and Information Technology, and Mr Jong Yong Yun, Vice-Chairman ... More

TRADE & LABOUR UNIONS

NTC units miss out on yarn market boom owing to stir
IT is a booming market right now for cotton yarn which no yarn manufacturer would want to miss out. But the ailing National Textile Corporation-(NTC)-run textile units in Tamil Nadu are the ones left out as they are unable to take advantage of ... More

ALLIANCES & JOINT VENTURES

Kamdhenu Ispat plans pacts for national presence
IRON rod manufacturer, Kamdhenu Ispat Ltd, today announced that it would enter into strategic tie-ups with several units to expand its business across the country. As part of the effort to increase its presence across the country, Kamdhenu, ... More

HPCL-Total SA cavern project reaches financial closure
HPCL and French oil company Total SA's joint venture company, South Asia LPG Company Pvt Ltd (SLPG), has achieved financial closure. The 50:50 joint venture SALPG has been set up for building an underground cavern of 60,000 tonnes storage ... More

IBP, Nagarjuna Oil in talks to sell petroleum products
IBP Co Ltd and Nagarjuna Oil Company have initiated talks to enter into an arrangement whereby the former's retail infrastructure would be used to market petroleum products manufactured by the latter. Talking to presspersons here on Friday, ... More

Indonesian co in talks for joint ventures in agri sector
SALIM group, the multi-billion dollar Indonesian conglomerate has started a dialogues with two city-based companies for setting up joint ventures outfits in the agricultural sector. This was announced by Mr Buddhadeb Bhattacharjee, West Bengal ... More

INTERVIEW

For Samtel Color, the picture looks bright
WITH the sales of colour televisions looking up, the demand for colour picture tubes is also upbeat. Taking advantage of the buoyant market, Samtel Color Ltd hopes to strengthen its position. Apart from meeting the enhanced requirement for ... More

SICK UNITS

Final chance for Galada Power
THERE is some respite for the ailing Galada Power and Telecommunication Ltd (GPTL) based in Andhra Pradesh. Considering the submissions by the financial institutions to give the company more time to rework its revival scheme in view of improved ... More

OUTLOOK

Kakatiya Energy sees big potential for opto-sensor poducts
KAKATIYA Energy Systems Private Ltd, a small-scale unit specialising in the development and production of opto-sensor based products, sees huge potential for the products in the country.The products can save substantial quantity of power, says ... More

PERFORMANCE

Rashtriya Ispat sales cross Rs 3,000 cr
THE sales of Rashtriya Ispat Nigam Ltd have crossed the Rs 3,000-crore mark for the first time since its inception during April-October, according to a company press release. The release says that the RINL, which has become a zero-debt company, ... More

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