The Hindu Business Line : Friday, November 14, 2003

CESC may reduce power tariff
FOLLOWING the conclusion of its debt restructuring scheme and the launching of a VRS, CESC Ltd is now working on its 2004-05 tariff revision proposal which aims at an approximate 40 paise decrease in tariff through cost reduction. Company ... More

General Motors seeks Govt nod to up fee to Isuzu
CITING an increase in the cost in developing the Bharat Stage II engine and transmission of its soon-to-be-launched vehicle, General Motors India Pvt Ltd is seeking permission from the Government to increase the payment of engineering fee to its ... More

Apollo's low-cost treatment draws patients from West
LOW cost of treatment for a standard that matches that of the West has drawn a group of patients from developed countries to Apollo Hospitals. Two British nationals and a Canadian undergoing treatment at Apollo, Chennai, were introduced to the ... More

SAIL to cut production costs by Rs 500 cr
DURING the current financial year, 2003-04, Steel Authority of India Ltd (SAIL) has targeted to reduce production cost by approximately Rs 500 crore, according to Dr S.K. Bhattacharya, Managing Director of Durgapur Steel Plant . He was ... More

OVERSEAS BORROWINGS

BILT GDR issue oversubscribed
BALLARPUR Industries Ltd today said that its Global Depository Receipts (GDR) issue has been over-subscribed by 1.5 times and the shares had been priced at $8.27. The company has raised $80 million through a combination of GDRs ($35 million) ... More

OUTSOURCING

Orient Fans sourcing materials from China, HK
ORIENT Fans, belonging to C.K. Birla's Orient Paper & Industries Ltd, is outsourcing materials from Hong Kong and China to produce a range of high-end electrical fans for the domestic market. According to Mr C.L. Mohta, President of Orient ... More

AWARDS & HONOURS

British safety award for Asian Paints

M&M bags award

HUMAN RESOURCES

45 cos to visit IFMR for campus placement
OVER 45 companies will be visiting the Institute for Financial Management & Research, Chennai, for campus recruitment this year, according to a press release issued by the institute. The 2002-04 batch, which graduates in January 2004, consists ... More

RESTRUCTURING

Jindal Iron, Vijaynagar unveil three-layer amalgamation deal
JINDAL Iron and Steel Company Ltd (Jisco) and Jindal Vijaynagar Steel Ltd (JVSL) today announced a multi-layered amalgamation and restructuring deal. Its three parts were - demerger of the investment business of Jisco into Jindal South West ... More

NEW PROJECTS

Dale Carnegie launches India operations
DALE Carnegie Training announced the launch of its Indian operations, in association with Walchand Capital, on Wednesday in Mumbai. Mr Peter Handal, CEO, Dale Carnegie Training, said, in a press release: "Our partnership with Walchand Capital ... More

REGULATORY BODIES & RULINGS

SEBI to probe Pantaloon Retail pvt placement
THE Securities and Exchange Board of India (SEBI) is enquiring whether there was any irregularity or illegality in a preferential allotment of equity shares approved by Pantaloon Retail to its promoters on November 11. The SEBI Chairman, Mr ... More

TRADE & LABOUR UNIONS

BIFR dismisses Modern Food's staff petition
THE Board for Industrial and Financial Reconstruction (BIFR) has dismissed a petition filed by the Modern Food Industries Employees' Union seeking action against the promoters and directors of Modern Food Industries (India) Ltd for violating the ... More

NTC workers to picket mills
THE striking textile workers belonging to the National Textile Corporation (NTC)-owned textile units have decided to picket their respective textile mills situated in the State demanding the settlement of the bonus issue. The decision to picket ... More

ALLIANCES & JOINT VENTURES

Auto component joint venture — JBM Group signs pact with Thai co
JUST over a month since India and Thailand concluded a free trade agreement, leading Indian automobile component manufacturer JBM Group has signed up with Thai Summit Autoparts Industry Co Ltd to set up a 50:50 equity-sharing joint venture in ... More

Indian Rare Earths likely to team up with Indian Rayon — To produce white pigment from ilmenite
The Union Government has allowed Indian Rare Earths to form arrangements with private parties to produce high-cost end products like white pigment. More

SICK UNITS

NTC subsidiaries' revival stuck in land sale imbroglio
THE Rs 3,383-crore revival strategy of eight of nine subsidiaries of the National Textile Corporation (NTC) mills, approved a year ago by the Board for Industrial and Financial Reconstruction (BIFR), remains stuck over sale of surplus lands ... More

OUTLOOK

Skoda lines up new models for India
THE Czech-based carmaker Skoda Auto will launch new models and upgrades in India in the coming years as it targets to more than quadruple its annual sales to 20,000 units by 2008, a top company official said. The models that Skoda, part of the ... More

Elder Pharma to step up production, exports
ELDER Pharmaceuticals has planned a slew of investments to step up production and increase exports. The company aims to achieve a turnover of Rs 400 crore by 2005-06. It commenced operations of its new manufacturing facility at Patalganga in ... More

JCB India aims at Rs 600-cr turnover
EARTH moving equipment maker JCB India Ltd aims to increase its turnover to Rs 600 crore in the current financial year and Rs 700 crore in 2004-05. The company claims to have a 82 per cent market share in backhoe loaders, a product that is ... More

PERFORMANCE

NFCL sells more, but earns less
NAGARJUNA Fertilizers and Chemicals Ltd (NFCL) had sold seven lakh tonnes of urea during this year's kharif season, one lakh tonnes more than usual sales, but income is less than that of last year. The company incurred a loss of Rs 6.95 crore ... More

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