FINANCIAL PERFORMANCE
ICSA income up at Rs 1.79 cr
ICSA (India) Ltd has recorded an income of Rs 1.79 crore and a net profit of Rs 0.28 crore for the quarter ended December 31, 2003, as against an income of Rs 1.37 crore and a net profit of Rs 0.07 crore for the corresponding quarter last year. ... More

RESTRUCTURING
EID Parry mulls acetic acid unit sale
EID Parry is considering selling its acetic acid plant at Nellikuppam, about 160 km south of Chennai. The plant was set up in 1996 at an investment of about Rs 20 crore to produce 10,000 tonnes of acetic acid a year, from alcohol derived from ... More

Tata Power may spin off broadband division
TATA Power Company has sought approval from its board of directors to convert its broadband division into a separate company. The company's board of directors will meet on January 20 to consider the transfer of the division into a private ... More

MERGERS & ACQUISITIONS
Post-buyout of HPCL stake — ONGC has to make 13 pc public offering in MRPL
POST buyout of Hindustan Petrochemicals Ltd's (HPCL) stake in Mangalore Refineries and Petrochemicals Ltd (MRPL), Oil and Natural Gas Corporation (ONGC) will be required to make a public offering of around 13 per cent of its stake in MRPL, ... More

NEW PROJECTS
GNCL to set up lam coke plant at Kandla
GUJARAT NRE Coke Ltd (GNCL) has firmed up a Rs 50-crore investment plan to set up a green-field lam coke manufacturing plant at Kandla in Gujarat. The proposed project, which will be the company's second plant in the State, is expected to begin ... More

ALLIANCES & JOINT VENTURES
Sri Adhikari in pact with US, West Asia television channels
SRI Adhikari Brothers Television Network Ltd (SABTNL) has entered into a collective $3 million programming supply deal in the US and in West Asia. In the US, it has entered the deal with TV Asia, which will cater to the major programming ... More

Jindal Stainless in tech pact with Nisshin of Japan
JINDAL Stainless Ltd has entered into a technical collaboration with the Japanese stainless steel major, Nisshin Steel, for improving the production process. The collaboration is for two years, which may be extended, and involves an outflow of ... More

INTERVIEW
`We doubled our turnover without raising capacity'
W S Industries has not only achieved a turnaround but also appears to be set to soar, given its orders on hand worth Rs 85 crore. The year 2004-05 promises to be good, with sales projections going up to Rs 116 crore from around Rs 100 crore ... More

DIVERSIFICATION
Gulf Oil plans to diversify into car care products
AUTOMOTIVE lubricants company Gulf Oil Corporation plans to diversify into selling car care products and automobile accessories such as batteries, tyres and car parts. The company, which has already entered into an agreement with Essar Oil for ... More

STANDARDS & BENCHMARKS
Reliance Jamnagar refinery gets top rating
RELIANCE'S refinery at Jamnagar has been ranked as best in Shell Benchmarking for the third consecutive year under the category of `Energy and Loss' performance from amongst 50 refineries worldwide. According to a company press release, the ... More

OUTLOOK
Ashok Leyland targets 50% market share in 3-5 years
WITH a range of new product roll-outs on the anvil, commercial vehicle major Ashok Leyland is targeting to increase its marketshare by about 15 percentage points in the next 3-5 years. "Our market share should grow from about 35 per cent to ... More

PEOPLE
Two new directors join Kirloskar Electric arm
KAYTEE Switchgear Ltd, a subsidiary of Kirloskar Electric Co Ltd, has inducted Prof V.S. Raju and Mr Sarosh J. Ghandy as two new directors on the board of the company. Prof Raju is a well-known personality in the field of technical education. ... More

Arun Pande quits Ashok Leyland
Mr ARUN Pande, Executive Director-Marketing, Ashok Leyland, has quit the company. Official sources said this happened last week. Mr Pande left due to "family reasons", they said. Mr Pande joined Ashok Leyland only in April, in the place vacated ... More