FINANCIAL PERFORMANCE
Rising costs rob HLL numbers of gloss
IT'S a bland platter that HLL has served up for the final quarter of 2003. Net sales growth dipped to 2.2 per cent in the December quarter, after peaking at 6.8 per cent in the September quarter. This mars the trend of steadily improving sales ... More

MERGERS & ACQUISITIONS
TVS Autolec ups stake in Malaysian JV
TVS Autolec has raised its stake in Malaysian joint venture by buying a further two lakh shares in the company. TVS Autolec (formerly, Autolec Industries) earlier had a 30 per cent stake in RBI Autoparts Sdn Bhd, which makes water pumps and ... More

CORPORATE GOVERNANCE
Revised Clause 49 of listing agreement — Murthy panel may redefine `independent director' to allay fears
EVEN as the last word is yet to be heard on the implementation of the revised Clause 49 of the listing agreement dealing with corporate governance, the Securities and Exchange Board of India- (SEBI) appointed N.R. Narayana Murthy Committee is ... More

NEW PROJECTS
Visaka Ind to set up unit in Karnataka
THE Hyderabad-based Visaka Industries Ltd, a leader in the asbestos cement sector, is planning to set up its fourth production unit in Karnataka some time during this year. According to Dr G. Vivekanand, Managing Director, the company has ... More

Samtel plans plasma display panel unit
AFTER establishing itself in the flat picture tube and super flat market, Samtel Color Ltd, is now planning a foray into manufacturing plasma display panels (PDP). The company proposes to set up a plasma display plant towards the third quarter ... More

REGULATORY BODIES & RULINGS
DCA submits Daewoo Motors investigation report to Jaswant
THE Department of Company Affairs (DCA) is said to have submitted the investigation report by the Serious Fraud Investigation Office (SFIO) on Daewoo Motors India Ltd to the Finance Minister, Mr Jaswant Singh. The investigation against the ... More

FERA cases against ITC dropped
THE Enforcement Directorate, New Delhi, in an order passed recently, has dropped all proceedings initiated under the provisions of erstwhile FERA 1973 (since repealed) against ITC Ltd and its current (only Mr Y.C. Deveshwar), and 7 former ... More

DIVERSIFICATION
Traco Cables proposes to diversify
DESPITE drastic drop in demand for jelly-filled cables from BSNL, the state-owned Traco Cables Ltd, which has been incurring losses during the past two years, has got orders worth Rs 20 crore that might put the company back on the revival path. ... More

OUTLOOK
HLL thrust on four businesses
FOR Hindustan Lever Ltd (HLL), 2004 will be the year to focus on four businesses — the confectionary brand, Max; ayurvedic range Ayush; direct marketing network, HLL Network; and water. HLL's entry into water business will be different, ... More

Philips sets higher sales targets
PHILIPS India on Tuesday said that it is targeting to sell 5.5 lakh colour televisions this year and has also hiked up the advertising budget for the consumer electronics segment from Rs 26 crore last year to Rs 32 crore. "We are targeting to ... More

PEOPLE
Khusrokhan steps down as Tata Tea MD
MR H.R. Khusrokhan is stepping down from the post of Managing Director in Tata Tea Ltd as his three-year term comes to an end on February 18. Mr. P.T. Siganporia, Deputy Managing Director, will take charge temporarily. This decision was ... More

Anil Nanda resigns as Escorts MD, stays Vice-Chairman
MR Anil Nanda, the younger brother of Escorts Ltd Chairman, Mr Rajan Nanda, has resigned from the post of Managing Director in Escorts Ltd. He will however continue to be the Vice-Chairman of the company. Though not detailing the reasons for ... More