CORPORATE
ANNOUNCEMENTS
HCC bags Rs 843-cr water pipeline order in AP
HINDUSTAN Construction Co Ltd (HCC) has bagged a Rs 843-crore order for construction of a water pipeline project for lifting of water from Godavari in Andhra Pradesh. HCC has emerged as the lowest bidder, elbowing aside the other two bidders - ...
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Honda cuts CR-V price by Rs 30,000
HONDA Siel Cars India Ltd today cut the price of its CR-V sports utility vehicle by Rs 30,000, following the recent decision of the Government to abolish the four per cent special additional duty (SAD). CR-V will be now priced at Rs 14.50 lakh ...
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JB Chem gets US FDA nod for Panoli drug unit
IN a development that would help the Mumbai-based JB Chemicals & Pharmaceuticals Ltd step up activity in the US generic drugs market, the company today said that it had received approval from the US regulatory authorities for its manufacturing ..
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PREFERENTIAL ALLOTMENTS
Suven board meet on Jan 19 to issue preferential shares
SUVEN Life Sciences Ltd has informed the stock exchanges that a meeting of its board of directors would be held on January 19 to issue and allot equity shares on preferential basis. The company has recently obtained the approval of its ...
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COMPANY LAW
Composition of council, expenditure issues — ICAI to present views on Bill to DCA
THE Institute of Chartered Accountants of India (ICAI) has decided to make formal representation to the Department of Company Affairs on the Chartered Accountants (Amendment) Bill, 2003. "We will place our views before the DCA on a host of ...
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CORPORATE BONDS
NTPC plans euro bonds to raise $200 m
NATIONAL Thermal Power Corporation is planning to approach the euro bond market to raise $200 million, with a repayment tenor of seven years. The funds will be used to finance its power generation capacity addition programme. This the first ...
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RESTRUCTURING
PepsiCo India on revamp mode
SOFT drink major, PepsiCo India, is undertaking an organisational restructuring exercise, with the objective of consolidating operations and tightening management control further. As part of the organisational revamp exercise, Mr Tanmaya Vats, ...
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NEW PROJECTS
Millennium plans 2 greenfield breweries in Rajasthan, Orissa
MILLENNIUM AlcoBev Ltd (MABL), a three-way beer joint venture between United Breweries, Scottish & Newcatle and Mr Ravi Jain, has firmed up plans for two new greenfield breweries in Rajasthan and Orissa at an estimated cost of Rs 56 crore. Mr ...
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PDPL opens second sales unit in State
PARENTERAL Drugs India Ltd (PDPL), the Indore-based pharmaceutical company, is expanding its facilities in Kerala to strengthen its marketing operations in the State. The company, a leading player in IV fluids segment, is setting up its second ...
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JCBL to set up bus body plant for Tata Motors
Talking to presspersons, Mr Rishi Aggarwal, Director, JCBL Ltd, said the bus body building plant is being set up in Lucknow and is likely to be completed by September this year. An investment of Rs 20 crore is being pooled in by JCBL for this ...
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Hydro S&S to spend Rs 4 cr on capacity expansion
HYDRO S&S will spend Rs 4 crore on capacity expansion by 33 per cent, whereupon the company will be able to produce 15,000 tonnes a year of reinforced plastics, which are mainly used in automobiles. The company produces polypropylene compounds .
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TRADE & LABOUR UNIONS
Binani Ind employees seek power tariff cut
THE employees of Binani Industries Ltd, Kochi, have appealed to the State Electricity Regulatory Commission to either reduce the power tariff for the company or allow it to import power from the Power Trading Corporation. The employees have ...
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ALLIANCES & JOINT VENTURES
Kinetic acquires rights to make Italjet scooters
IN yet another instance of a Western auto company relocating production given the shrinking traditional markets and high manufacturing cost, the Bologna-based designer and manufacturer of two-wheelers, Italjet, has sold the complete manufacturing ...
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DIVERSIFICATION
Eicher forays into engg solutions biz
THE Rs 1,300-crore Eicher group has made an entry into the engineering solutions business. The company has set up a centre for excellence for engineering services to provide solutions to other firms. "We have developed a product development ...
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SICK UNITS
FACT facing funds crunch
THE crisis in the ailing Central public sector, Fertilisers and Chemicals Travancore Ltd (FACT), appears to be taking a serious turn with the company finding it difficult to purchase enough raw materials for manufacturing its products for the ...
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OUTLOOK
TVS hopes sales will touch 1.6 m
TVS Motor Company, the country's third largest two-wheeler maker, expects to sell 1.6 million vehicles in fiscal 2004-05, clocking a growth of over 33 per cent from the current year on increasing demand for motorcycles. "We expect to sell 1.2 ...
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Sanyo may pump in $40 m into BPL
JAPAN'S Sanyo Electric Co Ltd is expected to pump in $40 million into BPL Ltd, the beleaguered domestic consumer durables major. This will mark the first phase of Sanyo's investment into the Indian major, which is in the final stages of a rather ...
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PEOPLE
Indian Hotels makes senior-level appointments
THE Indian Hotels Co Ltd (IHCL) today announced three senior appointments to its core management team. Mr Franz Zeller, having over 30 years of experience in various international hotel operations including at Hilton International, Millenium ...
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