OVERSEAS BORROWINGS
Phoenix Lamps takes $ loan to replace Re loans
PHOENIX Lamps Ltd has announced that it is has gone in for a low-cost foreign currency dollar loan to replace its high cost rupee term loans. The company is currently availing a rupee term loan of Rs 30.17 crore from IDBI with an interest rate ... More

COMPANY LAW
Disclosure of onsite staff salaries — DCA may grant exemption to IT cos
INFORMATION technology companies may soon suffer lesser hiccups on disclosure requirements of remuneration to their employees posted overseas. The Department of Company Affairs (DCA) is likely to exempt the IT companies from furnishing such ... More

GENDER
Nalco CMD denies sexual misconduct
MR C. Venkataramana, Chairman and Managing Director, Nalco, at a press briefing here, has denied all charges of sexual misconduct filed against him by a woman employee of the company's Mumbai office. "Needless controversy has been created by ... More

MMA to organise women's convention
Is it because women are able to prioritise better than men? Or are there genuine obstacles to women managers in achieving leadership roles? With an increase in the number of women in the work force, these questions become relevant and finding ... More

MERGERS & ACQUISITIONS
SembCorp to acquire 51% stake in Medicare Incin
THE Singapore major SembCorp Industries proposes to acquire a 51 per cent stake in Medicare Incin Pvt Ltd, a wholly-owned subsidiary of the Ramky Group, Hyderabad, to enter the medical waste disposal business in India. The Singapore company, ... More

NEW PROJECTS
India Rayon hikes capacity in Gummidipoondi unit
INDIAN Rayon and Industries Ltd has informed the Bombay Stock Exchange that the brownfield expansion of capacity by 40,000 tonnes at its Hi-tech Carbon Division in Gummidipoondi has been commissioned. The capacity of the plant has now ... More

Sandvik Asia sets up EOU for cartridges
AN export-oriented unit for the manufacture of tooling cartridges has been set up by the Pune-based Sandvik Asia Ltd. The plant is expected to become operational from the second quarter of 2004, Mr Anders Thelin, President, Sandvik Coromant ... More

ALLIANCES & JOINT VENTURES
NTPC in pact with ASCI for joint research
NTPC has signed a memorandum of understanding (MoU) with Administrative Staff College of India (ASCI) for carrying out joint research and prepare "well-documented policy options" that would contribute to reform and sectoral growth in the area of ... More

INCOME TAX
Cos asked to file e-TDS before March-end
COMPANIES have to file their Tax Deduction at Source for 2002-03 electronically (e-TDS) by the end of March this year, said Mr P.K. Sridharan, Chief Commissioner of Income Tax in Chennai. The Income Tax department has appointed Integrated ... More

OUTLOOK
Tata Motors' Korean buy to boost China plans
TATA Motors' China plans will get a fillip with the acquisition of Daewoo Commercial Vehicle Company Ltd (DWCV). "We have been working the Chinese market for the last few months, so have they. Now, we will do it together," Mr Ravi Kant, ... More

Ranbaxy to retain focus on domestic market
RANBAXY Laboratories Ltd may be spreading its wings in the international markets, but the focus on the Indian markets will continue to remain with the launch of over 20 products this year. According to Mr Malvinder Mohan Singh, ... More

`Coffee Day Xpress to make net profit in 2 years'
COFFEE Day Xpress, the Rs 250-crore Amalgamated Bean Coffee Trading Co Ltd (ABCTCL)'s strategic business unit that deals with setting up convenience food and beverage kiosks, is on course to making operating profit in two years. At a ... More

Somany Tiles eyes 10 pc sales growth — Plans to reach out to customers
SPL Ltd, the makers of Somany Tiles, aims to increase its sales by 15 per cent in volume terms and 10 per cent in value terms by next year and reach out to its customers directly. "We augmented the capacity of our manufacturing units to 37,500 ... More

PERFORMANCE
Alfa Laval: Meeting market expectations
ALFA Laval (India) declared impressive results for the year ended December 2003 meeting market expectations. The strong order backlog in the beginning of the year translated into a 30 per cent growth in revenues to Rs 376.46 crore for the ... More