The Hindu Business Line : Friday, December 12, 2003

Tecumseh to hike capacity at Hyderabad plant
TECUMSEH Products India Pvt Ltd, manufacturer of compressors, is hiking the capacity at its Hyderabad plant from six lakh pieces to a million. Mr Y.G. Janaki Ram, General Manager, Corporate HR, said here on Thursday at the vendor development ... More

ACCOUNTING STANDARDS

Govt to notify accounting standard soon
THE Government Accounting Standard on Guarantees is expected to be notified by the Central Government in the next few days, said Mr S. Sathyamoorthy, Chairman of the Government Accounting Standards Advisory Board (GASAB). The accounting ... More

PRIVATE PLACEMENT

IVRCL board okays pvt placement to Citicorp, Chryscapital
THE board of directors of IVRCL Infrastructures and Projects Ltd on Thursday in principle approved private placement of 80 lakh equity shares of the company at Rs 125 per share of Rs 10 each to Citicorp International Finance Corporation, CVC ... More

COMPANY LAW

`CA Act amendment Bill to be referred to standing panel'
THE Government plans to refer the Government Securities Bill and the Bill to amend the Chartered Accountants Act, 1949, Cost and Works Accountants Act, 1959 and the Company Secretaries Act, 1980 to the Standing Committee of Parliament concerned ... More

AWARDS & HONOURS

TCC, Kerala Feeds among winners of energy awards
THE Travancore Cochin Chemicals - Udyogamandal (TCC), Carborandum Universal - Kalamassery and Kerala Feeds - Thrissur, led the select group of corporate consumers for being feted by the State Government for the most result-oriented ... More

MANPOWER

Wimco VRS
WIMCO Ltd has informed the Bombay Stock Exchange that it has offered a voluntary retirement scheme to its employees at Ambarnath factory in Maharashtra. It also informed the exchange that the Delhi Stock Exchange has approved the delisting of ... More

MERGERS & ACQUISITIONS

Auto components sector — A journey from wilderness to the West
FROM being in the wilderness barely two years ago to striking out abroad now acquiring operating units, a major transformation appears to be under way in the auto component industry. No less than four major impending overseas acquisitions have ... More

Tatas to retain 4 pc in Haldia Petro
THE Tata group has decided to retain 4 per cent of their 14 per cent holding in Haldia Petrochemicals Ltd (HPL) as part of a deal recently struck with the State Government. Confirming this, the State Industries Secretary, Dr Sabyasachi Sen, ... More

NEW PROJECTS

Jain Irrigation set to implement Sri Lanka's greenhouse project
JAIN Irrigation Systems Ltd (JISL) has been chosen to execute a greenhouse project that entails setting up greenhouses in Badulla district of Sri Lanka. The project is financed by the Line of Credit from India and the Rural Economy ... More

REGULATORY BODIES & RULINGS

Decks cleared for BIFR closure
THE process of closing down the Board for Industrial and Financial Reconstruction (BIFR) and Appellate Authority for Industrial and Financial Reconstruction (AAIFR) took a major step forward on Thursday, with the Lok Sabha giving its nod for the ... More

ALLIANCES & JOINT VENTURES

Strides, Italian co pact for drug plant
STRIDES Arcolab Ltd has signed a memorandum of understanding (MoU) with Ribbon SRL of Italy to jointly manufacture and market cephalosporin anti-infective formulations for the regulated markets. According to the MoU, the two companies will ... More

INTERVIEW

`Spread liberalisation over time to help domestic industry'
WITH rising input costs and firm demand, steel prices have been heading northwards internationally. The domestic steel industry has benefited from the global rise in steel prices, but it also has tariff issues it must keep an eye on. Prices have ... More

SICK UNITS

Antony writes to Centre, lists measures to salvage FACT
The CM has asked the Centre to grant Rs 120 crore to the company at seven per cent interest for modernisation works and another Rs 200 crore as bridge loan to shore up the working capital. More

OUTLOOK

Hyundai Motor to roll out millionth car by 2006
HYUNDAI Motor India Ltd hopes to roll out its millionth car by 2006. That will be an additional 5,00,000 cars, starting today. At a function held to mark the production of its 5,00,000th car on Thursday, the company's President, Mr B.V.R. ... More

Kinetic eyes larger share of motorcycle market
TARGETING a larger chunk of the growing motorcycle market, Kinetic Engineering Ltd has drawn up plans to increase its range of motorbike offering including its recently launched executive range of bikes and is eyeing a Rs 1,100-crore turnover ... More

Toyota mulling launch of pick-up vans, trucks
TOYOTA Kirloskar Motor is studying plans to launch pick-up vans and trucks in the country and is considering importing sports utility vehicles other than the Land Cruiser Prado. "We want to explore several options like pick-up vans and mini ... More

PERFORMANCE

LML Freedom mobike sales up 30 pc in Karnataka
`THE spirit of freedom', the latest range of motorcycles from two-wheeler maker, LML, has posted an increase of around 30 per cent in sales in Karnataka since its launch in November. In a press statement here, LML said sales of LML Freedom's ... More

PEOPLE

U.P. Singh is new MD of Bokaro Steel Plant

Scoreboard
SE Diary

Comments & Letters to the Editor to: bleditor@thehindu.co.in
Subscribe to: Business Line