OVERSEAS BORROWINGS
Crest plans GDR issue
CREST Communication Ltd has decided to offer and place up to 75,000 global depositary receipts at a price of $7.75 per GDR, aggregating $5,812,500. Each GDR will represent 10 underlying equity shares of face value of Rs 10 each. Subject to ... More

COURTS/LEGAL ISSUES
HK court upholds Mallya role in SWC acquisition
A HIGH court in Hong Kong special administrative region has declared that two companies, which were nominees of the Golden Eagle Trust of whom Mr Vijay Mallya has control, were partners of the late Manu Chabbria and his investment company ... More

SHORT TERM INSTRUMENTS
ICRA reaffirms `A1' for Vardhman Polytex CP
ICRA has reaffirmed the `A1' rating assigned to the Rs 10-crore CP programme of Vardhman Polytex Ltd (VPL), indicating the highest safety in the short-term. The reaffirmation factors in low gearing level, comfortable liquidity position and the ... More

ALLIANCES & JOINT VENTURES
MoUs signed
NANDAN Agro Farms (P) Ltd has entered into a joint venture with Spearhead, a Switzerland-based company, to establish a food processing unit in the proposed Rs 150-crore Horti-processing park. An MoU to facilitate this park was signed here on ... More

Porter Novelli in dual alliance
PORTER Novelli, the public relations firm, has announced a dual alliance with The PRactice and PR Pundit. The PRactice and PR Pundit have been long-standing alliance partners, according to a company release. As brand partners of Porter ... More

DIVERSIFICATION
Ajanta India to expand FMCG product range
AJANTA India Ltd, the world's largest manufacturer and exporter of clock and wristwatches, has announced here on Thursday its expansion plans in the recently diversified field of fast moving consumer goods (FMCG) sector with a gamut of consumer ... More

STANDARDS & BENCHMARKS
Aurobindo Pharma gets European suitability certificate
AUROBINDO Pharma Ltdhas announced that it has received its first Certificate of Suitability (CoS) approval from the European Directorate for Quality Medicines (EDQM) for its product in the therapeutic segment of gastroenterology. The company ... More

S. Kumars' weaving division gets ISO
ARNAV Textiles, the weaving division of the S. Kumars group, has been awarded the ISO 9001:2000 certification for its high-end fabric 999 by SGS United Kingdom Ltd's Systems & Services Certification, according to the company press release. The . More

OUTLOOK
Apollo Health eyeing Pakistan market
THE success of Baby Noor's surgery in India seems to have opened a window of opportunity for the local healthcare industry. And with improving India-Pakistan relations, healthcare company, Apollo Health and Lifestyle Ltd, is looking at expanding ... More

Wrigley's acquisition of Joyco seen to stimulate confectionery market
THE Wm. Wrigley Jr. Company's formal announcement of signing a purchase agreement with the privately-held Spanish food conglomerate, Agrolimen, for certain confectionery businesses of its Joyco Group, including in India, is being seen as a move ... More

PERFORMANCE
BHPV on the brink again
BHARAT Heavy Plates and Vessels (BHPV) here, a heavy engineering company, seems to be on the brink again and the employees are agitated that it may be referred to the BIFR and privatised later. The recognised union as well as the management of ... More

Tata Steel April-Dec output at over 3 mt
TATA Steel has had a record production of over three million tonnes of crude and saleable steel during the April-December 2003 period. The steel major produced 3.17 million tonnes of crude steel and 3.05 million tonnes of saleable steel during ... More

PEOPLE