The Hindu Business Line : Tuesday, December 02, 2003

Kinetic to flag off Kashmir-Kanyakumari rally on Nova
TWO-WHEELER manufacturer Kinetic Motor Co has announced it was flagging off a 3,516-km, 14-day Kashmir to Kanyakumari rally that will test the ruggedness, endurance and mileage of its popular 4-stroke scooter, the Nova. A four-member team of ... More

IOC to invest Rs 1,100 cr in Tamil Nadu
INDIAN Oil Corporation will invest about Rs 1,100 crore in Tamil Nadu, between now and the end of next year, the company's Director (Marketing), Mr N.G. Kannan, told a press conference here on Monday. The investments will be in several areas, ... More

PREFERENTIAL ALLOTMENTS

Shareholders nod to be must for unlisted cos preferential offer
Additional disclosures must be made about the class of proposed allottees, the price or price band, the changes in shareholding pattern and control arising from the allotment. More

Aurobindo Pharma may allot shares to Mauritius MFs
AUROBINDO Pharma Ltd would issue up to 31 lakh equity shares of Rs 5 each at a price of Rs 302 per share, including a premium of Rs 297 per share, in favour of two Mauritius-based funds on a preferential allotment basis. Informing the decision ... More

AWARDS & HONOURS

NTPC Ramagundam unit bags award

CORPORATE GOVERNANCE

Corporate governance software
NEW DELHI: Grant Thornton, India, member of advisory and accountancy company, Grant Thornton International, is training its Indian staff on a new corporate governance software it has developed. This will help companies test their internal ... More

OVERSEAS INVESTMENTS

Doing business in US
INDIAN firms carrying out business in the US prefer to form a full-fledged company there as against merely opening a branch office because a company shareholder's liability is limited to the extent of his investment in the same. Another factor ... More

REGULATORY BODIES & RULINGS

Cipla told to pay Rs 77 cr penalty for over-pricing
CIPLA Ltd has received notices from the National Pharmaceutical Pricing Authority (NPPA) to pay Rs 76.75 crore, or 50 per cent of the total amount that the company is to pay, on account of alleged overcharging in respect of three drugs for the ... More

SICK UNITS

TRL revival chances brighten
THE chances for revival of the sick Travancore Rayons Ltd (TRL) at nearby Perumbavoor have become brighter following acceptance by the State Cabinet, in principle, of the revised rehabilitation package submitted by the promoters, Dinosaur ... More

OUTLOOK

Indraprastha Gas eyes Gurgaon, Faridabad markets
INDRAPRASTHA Gas Ltd (IGL), which markets compressed natural gas (CNG) in the National Capital Territory of Delhi, plans to expand to Gurgaon and Faridabad. The company, currently in the midst of a public issue being done through the ... More

Maruti eyeing 50 pc share in A2 segment
MARUTI Udyog Ltd, the country's largest carmaker, is eyeing 50 plus per cent market hold in A2 segment cars. It had recently launched its redesigned hatch Zen developed by the company's in-house R&D team based out of India. With the launch, ... More

PERFORMANCE

Maruti cars Nov sales up 42 pc
MARUTI Udyog Ltd (MUL) on Monday said its domestic sales rose by 42 per cent in November to 36,137 units over 25,471 units in the same month last year, fuelled by robust sales of its compact cars. Sales of Alto, WagonR and Zen surged 65 per ... More

PEOPLE

Spectrum Power Chairman resigns
THE Chairman and Director of Spectrum Power Generation Ltd (SPGL), Mr K. Narasimha Murthy, has resigned on Monday. Mr Murthy stated in a press release that SPGL got involved in many contentious issues with APTransco, which were very critical ... More

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