The Hindu Business Line : Saturday, December 27, 2003

IOC declares 50 pc interim
THE Indian Oil Corporation (IOC) has declared an interim dividend of 50 per cent (Rs 5 per share). The decision, taken by the IOC board at its meeting here on Friday, will result in an outgo amounting to Rs 584 crore for the current ... More

Correction

Aurobindo Pharma EGM

Hind Sanitaryware move to split stock

Matrix Labs clarifies

AWARDS & HONOURS

TTK-LIG plants get `maintenance' award
TTK-LIG is the first condom manufacturer in the world to win an award from the Japan Institute of Plant Maintenance for setting new quality standards in its manufacturing process. Mr J. Srinivasan, TTK-LIG's Managing Director, today told ... More

ACCOUNTANCY

Schedule to specify acts of professional misconduct for CAs
THE Centre, it appears, does not want to leave anything to chance. Besides overhauling the disciplinary mechanism for chartered accountants, the Centre plans to empower itself to specify by rules an act or omission which may be determined as ... More

CORPORATE BONDS

JNPT raises Rs 125 cr thru second bond issue
JAWAHARLAL Nehru Port Trust (JNPT) has mopped up Rs 125 crore from the market through a second unlisted bond issue in the space of a fortnight. The unlisted, long-term bond issue had two options - Rs 50 crore redeemable in 18 months with a ... More

BRPL's debt programme gets ICRA's highest safety rating
ICRA has assigned an`A1+' (A one plus) rating to the Rs 100-crore commercial paper/short-term debt programme of Bongaigaon Refinery & Petrochemicals Ltd (BRPL). The rating, indicating the highest safety in the short-term for the debt programme ... More

RESTRUCTURING

NIIT board okays spin-off scheme
NIIT Ltd on Friday said that its shareholders who hold 100 shares of Rs 10 each will get 75 shares of the same face value of the newly spun-off software company, NIIT Technologies Ltd (NTL). According to a draft scheme of arrangement to split ... More

Electrolux to dispose of Nandalur plant
THE shareholders of Electrolux Kelvinator Ltd have approved the disposal of Nandalur Plant located in Andhra Pradesh. In a bid to improve its financial condition, Electrolux has, in the past couple of years, closed down several of its plants ... More

MERGERS & ACQUISITIONS

Nicholas Piramal buys out Ambalal Sarabhai stake in jt venture
NICHOLAS Piramal India Ltd (NPIL) today announced the buy-out of its partner, Ambalal Sarabhai Enterprises Ltd's 50 per cent stake in the joint venture, Sarabhai Piramal Pharmaceuticals Pvt Ltd (SPPL), for Rs 69.3 crore. SPPL is a 50:50 joint ... More

Balrampur Chini promoters sell 10% stake
PROMOTERS of Balrampur Chini Mills Ltd, the city-based Saraogis, have offloaded 10 per cent of their stake in the company in favour of institutional investors. According to a company spokesperson, the deal took place early this week. The ... More

NEW PROJECTS

Reliance plans Rs 8,000-cr power plant in UP
RELIANCE Industries Ltd (RIL) plans to set up a 2,000-3,000-MW power plant in western Uttar Pradesh, involving an investment of nearly Rs 8,000 crore. "We have already shown them some sites in western Uttar Pradesh. The company is examining ... More

Ready-mix concrete unit
VIJAYAWADA: Sarvani ready-mix concrete unit, set up at Kolanukonda village in Guntur district, will be inaugurated by the District Collector, Mr K. Ramakrishna Rao, on Sunday. Mr D. Pattabhirami Reddy, one of the promoters, said at a ... More

STANDARDS & BENCHMARKS

MCF plant gets ISO
MANGALORE: Mangalore Chemicals and Fertilizers (MCF) Ltd has been awarded ISO 14001:1996, the environmental management system standard certificate, for its fertiliser complex at Panambur in Mangalore. A press release by MCF here on ... More

OUTLOOK

No change in Ranbaxy's growth strategy, says Malvinder Singh
THE journey towards achieving the milestone of $5 billion by 2012 or the `Garuda Vision', as the company terms it, will be under new leadership soon for pharma major Ranbaxy Laboratories Ltd (RLL). However, there will be no change in the modus ... More

PEOPLE

Ex-Perfetti's chief Dhingra to join SABMiller
ENDING weeks of speculation, confectionery major Perfetti Van Melle's Director, Mr A.K. Dhingra, is set to join beer major, SABMiller, as Director, Operations, South. When contacted by Business Line, Mr Dhingra confirmed the ... More

Ex-Nike honcho Javeri to head Madura Garments
THE AV Birla Group has roped in former Nike honcho Mr Hemchandra Javeri to head its fashion apparel company Madura Garments as President. Mr Javeri is expected to take up the reins left behind by Mr Prakash Nedungadi in January. Sources in ... More

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