PREFERENTIAL ALLOTMENTS
Pref allotment completed — 2 Michelin nominees inducted onto Apollo Tyres' Board
TWO Michelin nominees have been inducted into the board of Rs 2,027 crore Apollo Tyres Ltd (ATL). The two directorial berths have been created consequent to the allotment of 57.13 lakh equity shares of ATL (14.9 per cent stake) on a ... More

Avon Organics allots warrants at Rs 43
THE allotment committee of the board of directors of Avon Organics Ltd (AOL), a city-based pharmaceutical company, at its meeting on Wednesday has allotted 4.8 lakh convertible warrants to its promoters and a Director. The company informed the ... More

AWARDS & HONOURS
3 companies win CII awards
CHENNAI: ASHOK Leyland's Hosur unit, Brakes India's foundry at Sholingur, near Chennai, and TVS Srichakra were presented CII's awards in safety, health and environment here. A CII press release said Dr M.S. Swaminathan, Chairman of Dr ... More

ENVIRONMENT
Rainwater harvesting projects from Coke
Coca-Cola has commissioned six rainwater-harvesting projects in Palakkad district. A company spokesman quoted Mr Justice B. N. Kirpal, former Chief Justice of India, and Chairman, Coca-Cola India Environmental Council, as saying in Palakkad on ... More

FINANCIAL PERFORMANCE
FCI OEN Connectors net up 15 pc at Rs 11.7 cr
KOCHI: FCI OEN Connectors net profit has grown by 15 per cent to touch Rs 11.7 crore during 2003, as against Rs 10.2 crore recorded for the previous year. Gross profit grew by six per cent to Rs 15.9 crore (Rs 15.1 crore). . Net ... More

MERGERS & ACQUISITIONS
IOC wants stake in ONGC Videsh
INDIAN Oil Corporation (IOC) has asked the Union Government to give the company a "good stake" in ONGC Videsh Ltd, the subsidiary of ONGC that invests in oil ventures abroad. IOC's Chairman and Managing Director, Mr M.S. Ramachandran, told ... More

Glaxo, Burroughs Wellcome boards to meet on merger
THE long-pending merger of GlaxoSmithKline Pharmaceuticals Ltd (GSKPL) and Burroughs Wellcome (India) Ltd (BWIL) looks finally set to formalise in India, almost nine years after the two British companies merged globally in 1995. With niggling ... More

ALLIANCES & JOINT VENTURES
Aarti Drugs scouting for partners in China
NOT everybody fears the Chinese dragon and Aarti Drugs Ltd (ADL) is one such company. The mid-segment pharma company is looking to ink an alliance in China, a deal that is likely to be done in about six months, according to Mr Satish Nachane, ... More

NTPC-BHEL may drop out of Oman project
NATIONAL Thermal Power Corporation (NTPC) and Bharat Heavy Electricals Ltd (BHEL) are likely to drop out of the race to bid for Oman Government's $1-billion Sohar Water and Gas project. The last date for submission of bids for the project is ... More

E-COMMERCE & E-BUSINESS
FreeMarkets deployed to rein in Dabur costs
CONSUMER products company Dabur India Ltd on Wednesday announced that it has deployed a `Spend visibility solution' software provided by FreeMarkets Inc to control costs and strengthen the company's procurement process. "The software package, ... More

OUTLOOK
Volvo draws up global export hub plans for India
VOLVO has selected India as its fourth global export hub and plans to outsource more development work to the country. The country has also worked out a new marketing strategy for India to increase its market share in the country. "We should ... More

Honda hopes to wipe out losses this fiscal
HONDA Siel Cars India today said that it would wipe out its accumulated losses by the end of the current fiscal year, with sales of the Honda City surging ahead. Company officials said that at the beginning of 2003-04, Honda Siel had ... More

PEOPLE
ONGC has new ED
MR C. Lal, Asset Manager , ONGC, Rajahmundry has been promoted by the Oil & Natural Gas Corporation (ONGC) to the post of Executive Director. In a press release from Rajahmundry, the Corporation said he shall continue to look after ONGC's ... More

Former HSBC chief joins Wockhardt
THE former chief executive of the Hongkong and Shanghai Banking Corporation (HSBC), Mr Aman Mehta, has joined pharma company Wockhardt Ltd as a director on its board. The 57-year-old Mr Mehta returned to India only recently after his ... More