AWARDS & HONOURS
ABB India bags Asiamoney award
Asiamoney's 12th annual best-managed companies poll was conducted across nearly 3,000 fund managers, chief investment officers and heads of research at fund management firms, insurance companies and brokerage houses in the Asia-Pacific region, ... More

MANAGEMENT
Third set of financial management CDs launched
DR ANIL Lamba, a chartered accountant and a management expert, has launched his third set of 7 CDs, capturing the essence of financial management here, taking the total number to 15. Speaking to Business Line, Dr Lamba said Lamcon ... More

CORPORATE BONDS
NTPC to raise Rs 900 cr thru global bonds
NATIONAL Thermal Power Corporation (NTPC) is planning to raise Rs 900 crore through international bonds for financing some of its projects, according to its Chairman and Managing Director, Mr C.P Jain. He was speaking to reporters after ... More

MERGERS & ACQUISITIONS
Mahindras to acquire majority stake in IT firm Bristlecone
THE Mahindra Group today informed that it has agreed to acquire a majority equity stake in Bristlecone Inc, a San Jose-based IT services and solutions company. Save a cash component of $ 7 million by way of planned investment in the new ... More

Petronet LNG stakes claim for 10 pc equity in Ras Gas train — Public issue to open on February 19
PETRONET LNG Ltd (PLL) is hitting the market with an IPO of 26.1 crore equity shares of Rs 10 each on February 19. This will account for 34.8 per cent of the company's paid-up equity where at least 80 per cent would be available for the retail ... More

NEW PROJECTS
Donear eyes high-end textile blends — Plans manufacturing unit in J&K
DONEAR Industries Ltdhas drawn up plans to establish a new manufacturing base in Jammu and Kashmir. The company is to invest Rs 100 crore on this, enabling it to foray into high-end textile blends. The Senior Vice-President of Donear ... More

Greenfield coke project planned near Dharwad
ECOCOKE & Power Pvt Ltd, a company promoted by the former Executive Vice-Chairman of the Jindal Vijaynagar Steel Ltd plans to set up a greenfield coke project in Karnataka at an estimated cost of Rs 85 crore. Dr S.K.Gupta, who was the ... More

Gulf Oil plans Rs 5-cr expansion
GULF Oil Corporation Ltd (GOCL), a part of Gulf Oil International, engaged in the business of lubricants, has initiated a Rs 5-crore expansion project at its plant in Silvassa in Gujarat. Under the proposed expansion, the company plans ... More

RIGHTS ISSUE
CESC board okays Rs 50-cr rights issue
THE CESC board on Monday approved a Rs 50-crore rights issue for its equity shareholders in the ratio of one rights share for every eight shares held. The issue is being made at a premium of Rs 50 per share. An extraordinary meeting of the ... More

SICK UNITS
Jay Shree Tea takes management control of Singbuli estate
JAY Shree Tea and Industries Ltd, a B.K. Birla Group company, has recently taken management control of Singbuli Tea Estate, an ailing Darjeeling tea garden belonging to the city-based Mr M.K. Bajoria. The company, which is also a major tea ... More

Gayatri Sugars to convert promoters' loans to equity
ADHERING to the stipulation made by Andhra Bank at the time of sanctioning working capital and term loans, Gayatri Sugars Ltd (GSL), the city-based ailing sugar manufacturer currently undergoing restructuring, proposes to convert the unsecured ... More

OUTLOOK
Anest Iwata to make India export hub
THE Japanese air compressor manufacturer, Anest Iwata's joint venture Indian subsidiary, Anest Iwata Motherson Ltd, (AIML), is targeting a sale of around 9,000 units for fiscal 2004-05. The company is also on the process of developing the ... More

SKM Egg Products in expansion mode
BUOYED by the increased price realisation for processed egg products in recent months, the Erode-based SKM Egg Products Export (India) Ltd is seeking to consolidate its working by going in for need-based investment that would enable it to ... More

Jindal Stainless plans equity issue to fund expansion
DOMESTIC stainless steel major Jindal Stainless Ltd (JSL), the Rs 2,500-crore flagship company of the O.P. Jindal group, is considering a proposal to expand its equity base by raising fresh equity. The company is currently setting up a Rs ... More

Best Western plans to add 10 more hotels in India
BEST Western, the mid-market hotel chain, plans to expand the number of its hotels in India from the existing 20 to 30 in the next two years. The Chief Executive Officer, Best Western, India and South Asia, Mr Anand S. Gupta, told Business ... More

PEOPLE
New CMD for Northern Coalfields
THE Union Ministry of coal has appointed Mr V.K. Singh, Director (Technical) of Central Coalfields Ltd (CLL) as Chairman-cum-Managing Director of Northern Coalfields Ltd (NCL) with immediate effect. The position was vacant with the transfer of ... More