The Hindu Business Line : Wednesday, November 26, 2003

IDL blast leaves 7 workers dead
A POWERFUL blast at IDL Ltd, a part of the Gulf Oil Corporation, killed seven workers and wrecked damage on some of the plant facilities in Kukatpally area on Tuesday. The blast occurred around 4 p.m. in the detonator fuse shop, where about 15 ... More

ANNOUNCEMENTS

Nestle has no plan to delist, says Donati
Even as the market is agog with companies delisting from the bourses, global food major Nestle India Ltd does not seem to be set to join that bandwagon. Scotching market rumours, Nestle India's CMD, Mr Carlo M. Donati, told Business Line ... More

Grand hotel group scouting for property in London
THE Grand group of hotels is on the look out for a suitable property in London. "It will be an outright purchase," Mr Lalit Suri, Chairman & Managing Director of the group, said here today. He declined to estimate the likely investment or ... More

Tata postpones Indigo Station Wagon, Indica Sport launches
VEHICLE manufacturer, Tata Motors, has postponed the launch of its Indigo Station Wagon and Indica Sport variants, both of which are ready for launch having completed extensive trial testing. Top company sources told Business Line the ... More

Indraprastha Gas wants Maruti to make CNG-run cars
INDRAPRASTHA Gas Ltd (IGL), monopoly producer and supplier of compressed natural gas in the National Capital Territory of Delhi, is trying to persuade automobile makers to make vehicles that run on CNG. Mr A.K. De, Managing Director, ... More

Cancer drug: Nicholas to file for approvals
NICHOLAS Piramal India Ltd (NPIL) is set to file for regulatory approvals for its cancer drug that could be applicable in lukaemia, breast or prostrate cancer. NPIL's Chief Scientific Officer, Dr Swati Piramal, told this to newspersons on ... More

A.T.Kearney to change logo, governance system
GLOBAL management consulting firm A.T.Kearney has gone in for a logo modification and change in governance model. While opting for a maroon-coloured logo instead of the earlier grey one, A.T.Kearney has also decided to drop the tag line `an ... More

PREFERENTIAL ALLOTMENTS

Jain Irrigation pref allotment
JAIN Irrigation Systems Ltd has decided to make preferential allotment to the promoters and the US-based Aqua International at Rs 100 per share.

OPEN OFFERS

Open offer for 36.42 pc of SRF Polymers
STRATCAP Securities India Pvt Ltd has informed the Bombay Stock Exchange that it has (on behalf of Narmada Farms Pvt Ltd and Bhairav Farms Pvt Ltd — the acquirers) entered into a share purchase agreement with Mr T.V. Narayanaswamy to ... More

CORPORATE DISPUTES

McDowell, Empee locked in trademark row
Empee has also claimed trademark registration, but the company refused to comment on the controversy stating "We haven't heard anything from McDowell on the matter yet." More

OVERSEAS BORROWINGS

ECB curbs — A clichéd approach to tackling forex riches?
ABOUT a decade and a half ago, three of us were invited to conduct a foreign exchange training programme sponsored by the central bank of a West Asian country. Some of the speeches at the inauguration were in the local ... More

FINANCIAL PERFORMANCE

IVRCL net rises
IVRCL Infrastructures & Projects Ltd posted a turnover of Rs 193.09 crore and a net profit of Rs 7.08 crore for the quarter ended September 30. The company recorded a 138 per cent growth in turnover and 155 per cent increase in profit when ... More

RESTRUCTURING

Micro Group to merge 4 cos
THE Micro Group is consolidating operations of its four group companies under a single head and hopes to complete the exercise by the end of March 2004. The southern major comprises the flagship Micro Labs, Brown & Burk Pharmaceuticals, Micro ... More

MERGERS & ACQUISITIONS

Sanmar Properties to merge with Chemplast
CHEMPLAST Sanmar has informed the stock exchanges of its decision to amalgamate Sanmar Properties and Investments Ltd with the company. Prior to the amalgamation, SPIL would de-merge its investment and shipping businesses into a separate ... More

CORPORATE GOVERNANCE

`Corporates must create trustworthiness'
AS FICCI unveiled its new logo in the Capital on Tuesday, Prof Sumantra Ghoshal of the London Business School marked the occasion with his address on "Management's Crisis of Legitimacy". While describing FICCI as an interest group, a shared ... More

NEW PROJECTS

Steelage Industries plans expansion
STEELAGE Industries Ltd, positioning itself as a security solutions company, is looking to nearly double its turnover to Rs 150 crore over the next three years. The company, which is expected to end 2003 with a turnover of Rs 80 crore, is ... More

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