The Hindu Business Line : Saturday, December 06, 2003

Orchid to export Cefazolin to US
ORCHID Chemicals and Pharmaceuticals Ltd will soon export an injectable antibiotic, Cefazolin, to the US, according to a communication from the company. This follows the formal approval granted by the US FDA to its sterile active pharmaceutical ... More

Scorpio to woo Italians under different name
MAHINDRA & Mahindra Ltd (M&M) is showcasing five of its vehicle models at Italy's Bologna Motor Show, including the fast-selling Scorpio. "The Italian SUV market is one of the largest in Europe. It is also one of the most dynamic in the world ... More

Parry Confectionery ready to launch sugar-free products
PARRY Confectionery Ltd, a part of the Murugappa group, is ready to launch sugar-free sweets as soon as the Government allows it, Mr M.V. Subbiah, company's Chairman, said. The company can enter this segment anytime but as of now the ... More

GM to increase Corsa, Optra prices
GENERAL Motors India today announced a two to three per cent increase in the prices of its Opel Corsa and Chevrolet car models from January 1. Mr P. Balendran, Vice-PresidentI, said that while the prices of Opel Corsa models would go up by Rs ... More

Nestle India declares second interim dividend
NESTLÉ India Ltd on Friday declared its second interim dividend, of Rs 10 per share, for the year 2003. With this interim dividend, shareholders would have received for the year Rs 20 per share, amounting to a payout of Rs 193 ... More

For the first time in 37 years — Singareni to pay out dividend of Rs 86 cr
HAVING scripted a major turnaround that has helped Singareni Collieries Company Ltd (SCCL) extricate itself from the BIFR fold and become a profitable company, the Singareni management is set to hand over a dividend of Rs 86.70 crore to its major ... More

BUYBACK

Impal offers buyback at Rs 180 per share
INDIA Motor Parts & Accessories Ltd (Impal) has offered to buy 13.02 per cent of its shares from the public at a price of Rs 180 per share. If all the 2.7-lakh shares offered to be bought back were tendered for sale, Impal would spend Rs 4.87 ... More

ACCOUNTANCY

Accountants urged to upgrade 'R&D activities'
THE Government has asked chartered accountants and other professionals in the accountancy sector to strengthen the `research and development (R&D) activities' within their institutions of learning in the country. "It is only constant skill ... More

CORPORATE BONDS

Essar Oil finalises Rs 1,300-cr bond issue to ABB, promoters
Thebonds carry an interest of 5 per cent per annum and the conversion price has been fixed at Rs 12.40 per share having a face value of Rs 10 each. More

MERGERS & ACQUISITIONS

Coromandel Fert gets HC nod to buy EID Parry's division
COROMANDEL Fertilizers Ltd has informed stock exchanges that the High Court of Andhra Pradesh has approved the scheme of arrangement for acquiring the farm inputs division of EID Parry India Ltd. As per the scheme of arrangement, the equity ... More

REGULATORY BODIES & RULINGS

DCA-appointed investigator's report on Flex `violations' soon
THE independent investigator appointed by the Department of Company Affairs to probe the charges against Flex Industries for violations under Companies Act, is set to submit its report soon. The investigator had, in June, sought extension of ... More

ALLIANCES & JOINT VENTURES

Haier to use India as export hub — Ties up with BPL, Voltas for sourcing products
CONFIDENT of making its mark in the Indian market, the Chinese consumer electronics firm Haier wants to use India as a production base for exports to neighbouring countries. The company, which has taken the wholly-owned subsidiary route to ... More

DIVERSIFICATION

Coal India mulls setting up power plants
THE future power generation and distribution business may witness a major change with the state-owned Coal India Ltd (CIL) actively considering entering the area of power generation. This will come as a part of the forward integration of CIL's ... More

OUTLOOK

Kinetic hopes to become sourcing hub for Hyosung — Plans to make Aquila bike in India
KINETIC Engineering Ltd is set to strengthen its position as a sourcing `hub' for its technical partner, the Korea-based Hyosung Motors. After striking a MoU with Hyosung to make the GF series motorcycles a few months ago, industry sources ... More

Essel Propack to raise capacity to 5.5 billion tubes
GROWTH arguably slackens if you already own 30 per cent market share globally in your business. But, Mr Ashok Goel, Vice-Chairman, Essel Propack Ltd (EPL), says they are looking forward to adding another 2 billion tubes capacity over the next few ... More

PERFORMANCE

Bajaj Auto crosses 1-lakh mark in exports
BAJAJ Auto Ltd (BAL), which on Friday crossed the 1,00,000 unit mark in exports for FY04, hopes to be at the half a million level in annual exports over the next three to four years time. The target is spread across the export geographies of ... More

Lupin prunes debt by Rs 300 cr
PHARMA major Lupin Ltd on Friday announced completion of its financial restructuring, which will pare down its debt from over Rs 500 crore to about Rs 200 crore. With its stronger balance sheet, the company will now strengthen its market for ... More

Vizag Steel sales turnover up
VISAKHAPATNAM: Visakhapatnam Steel Plant has registered a sales turnover of Rs 535 crore in November. . Its corporate entity, Rashtriya Ispat Nigam Ltd (RINL), exported 20,400 tonnes of round corner squares to China during the month. ... More

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