CORPORATE
ANNOUNCEMENTS
Liberty Shoes keen on HLL leather biz
LIBERTY Shoes Ltd, the Haryana-based footwear major, is seriously considering a proposal to acquire the leather business of Hindustan Lever Ltd (HLL) and is currently working out the details for exploring possibilities in that direction. The ...
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PREFERENTIAL ALLOTMENTS
Matrix Labs pref shares priced at Rs 1,500
MATRIX Laboratories Ltd has signed an agreement with India Newbridge Investments Ltd, of the US-based Newbridge Capital, and Maxwell (Mauritius) Pte Ltd, an investment vehicle of the Singapore Government-owned Temasek Holdings, for the issue of ...
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Shasun Chem to issue warrants; pays 25% interim
SHASUN Chemicals & Drugs Ltd will issue 4.5 lakh warrants on preferential basis to promoters. Each warrant is convertible into one equity share of Rs 10 at a premium of Rs 333. The company has declared an interim dividend of Rs 2.5 per ...
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FINANCIAL PERFORMANCE
Reliance Energy net up 314% in fourth quarter
A SUBSTANTIAL jump in electricity sales combined with a fall in interest paid has led to a 314 per cent increase in Reliance Energy Ltd's net profit in the fourth quarter ended March 31, 2004 at Rs 103.79 crore compared to Rs 25.07 crore last ...
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CREDIT RATING
Jindal Polyester NCD ratings
MUMBAI: Jindal Polyester Ltd has informed Bombay Stock Exchange that Fitch Ratings India Private Ltd has assigned the following ratings to the company: A+ (Ind) (stable) to its Rs 500 million non-convertible debenture programme; and, that ...
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NEW PROJECTS
Liberty plans to step into global arena
THE Rs 350-crore footwear manufacturer Liberty Group has sewn up plans to expand its operations by setting up its fourth manufacturing plant in Uttaranchal and 25 exclusive outlets across the country and in seven overseas centres. The Executive ...
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Reliance Energy may seek shareholders' nod for 10 million more shares
RELIANCE Energy Ltd (REL) proposes to seek shareholders' permission to issue 10 million new shares at its annual general meeting. Mr Anil Ambani, Chairman and Managing Director, REL, told presspersons on Friday that the company may approach ...
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Saint-Gobain to invest Rs 600 cr more to complete expansion
SAINT-GOBAIN Glass India Ltd will see its expanded capacity going on stream some time in 2006. The company will invest Rs 600 crore in the expansion when another float glass line will be set up at the plant in Sriperumbudur, about 55 km from ...
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Sunil Synchem launches expansion
SUNIL Synchem Ltd, a maker of hard-gelatine capsules, is undertaking an expansion at its manufacturing plant in Alwar, Rajasthan. The estimated cost of the expansion project is about Rs 30 crore. Mr Anil Kumarr Khaitan, Chairman of the company, ...
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DB Power sets up new UPS unit
AMIDST scorching summer and truant power supply by the electricity boards, the Pune-based DB Power Electronics (P) Ltd has set up a 40,000 sq ft UPS (uninterrupted power supply) manufacturing facility at Ramtekdi Industrial Area in Hadapsar in ...
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INCOME TAX
Wipro to appeal against I-T notice
WIPRO Ltd has provided for only Rs 30 crore in its books against the Rs 261.4-crore income tax slapped against the billion-dollar software exporter. "We believe that the charge is not sustainable," Mr Suresh Senapaty, Chief Financial Officer, ...
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DIVERSIFICATION
Bata to enter real estate development — P.M. Sinha joins as Chairman
BATA India Ltd has decided to make a foray into real estate development, along with a renewed focus on specialty manufacturing. Besides complete modernisation of its retail network, the company plans to introduce new categories of footwear in ...
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RIGHTS ISSUE
Color Chips rights
HYDERABAD: Color Chips India Ltd has informed BSE that at the company board meeting held on April 14 it was decided interalia to issue shares on rights basis in the ratio of 1:1 to the shareholders of the company in accordance with the ...
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OUTLOOK
Indian stent begins Europe trials
SPECIAL stents developed in Bangalore may be headed for the European markets soon. Cardiovascular devices manufacturer Vascular Concepts, Bangalore, has announced that it has begun European clinical trials for its drug eluting stent. Its ...
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Wipro sees steady operating margins
WIPRO Ltd expects to maintain its operating margins in the current financial year, tracking surging volumes, pricing stability, offshore drift and increasing utilisation. The company reported a three per cent rise in its fourth quarter pricing ...
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Chinese demand to brighten prospects for Jindal Stainless
CONTINUING demand for stainless steel in overseas markets, particularly China, is expected to help Jindal Stainless Ltd grow in excess of the overall market growth of 8-10 per cent, a senior company official said. The company, which is expected ...
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Gujarat NRE hopes for Rs 350-cr turnover
GUJARAT NRE Coke Ltd (GNCL), riding on a windfall price escalation for low ash metallurgical coke, has set its eyes on closing the current fiscal with a turnover of over Rs 350 crore. The company, which is set to scale up its production from ...
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JK Tyre now betting high on radialisation
J.K. INDUSTRIES, manufacturer of JK Tyre, is now leveraging its dominant position in the fast growing truck and bus radial tyre segment. With the pace of radialisation set to increase in the coming days, the company has now decided to appoint ...
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Canere, Sarabhai will help Nicholas Piramal consolidate
EVEN as two more "customised manufacturing" contracts are expected to crystallise by September 2004, pharma-major Nicholas Piramal India Ltd (NPIL) is closer to integrating it's plans and facilities towards supporting future contracts. The ...
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