CORPORATE
ANNOUNCEMENTS
Wockhardt sets up marketing arm in US
WOCKHARDT Ltd on Tuesday gave its operations in the US a booster shot by establishing its own sales and marketing organisation, in addition to its existing two-and-a-half-year-old research and clinical trials facility. The new marketing and ...
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Michelin Apollo in talks with vehicle makers for radial fitment
MICHELIN Apollo Tyres Pvt Ltd (MATL) is in talks with commercial vehicle manufacturers like Volvo to see whether the truck radials imported by the company can go in as original fitments into the commercial vehicles. "These are largely in the ...
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Bhilai Steel completes long-rail project
BHILAI Steel Plant (BSP), part of Steel Authority of India Ltd, has produced the first 80-metre-long rail at its long-rail finishing complex, a couple of days back. Earlier, BSP was producing rails up to 13 metres and 26 metres in length. ...
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Vesuvius to go for capacity expansion
THE upswing in the domestic steel sector has invigorated Vesuvius India Ltd to chalk out plans to increase its refractory production capacity from 600-650 pieces per day to 1,200-1,500 pieces per day within the next two years. Stating this ...
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Glenmark to begin clinical trials in UK for asthma drugs in July
GLENMARK Pharmaceuticals Ltd said on Tuesday that it has discovered a drug candidate, GRC 3886, for chronic obstructive pulmonary disorder and asthma. The company is currently completing its pre-clinical studies for the compound and is expected ...
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VFS centre for UAE job aspirants
VFS Attestation Services, part of the Swiss-headquartered Kuoni Travel Group, has announced the launch of services in Kerala for the benefit of job seekers to the UAE. Speaking to newspersons here, Mr Abdul Gafoor Faridi, Head of Dubai ...
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ACCOUNTING STANDARDS
ICSI seeks larger role in capital market regulatory regime
IN its endeavour to crave out new areas of practice for company secretaries, the Institute of Company Secretaries of India (ICSI) has sought a larger role for their professionals in the regulatory regime of capital market. The Institute ...
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ICAI releases statement on CARO — For compliance with reporting requirements
THE Institute of Chartered Accountants of India has released its Statement on the Companies (Auditor's Report) Order, 2003 (CARO). The statement, which is mandatory for members of the institute, provides detailed guidance to auditors of companies ...
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PREFERENTIAL ALLOTMENTS
Alok Industries to raise Rs 101.2-cr mezzanine finance
BRESCON Corporate Advisors has successfully advised Alok Industries Ltd on raising Rs 101.2 crore of mezzanine finance from MezzAsia Capital LP. MezzAsia Capital LP is a dedicated mezzanine fund managed by CLSA Mezzanine Management Ltd, with ...
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OVERSEAS BORROWINGS
Tata Motors prices first tranche FCCN issue at Rs 573.10
TATA Motors Ltd has priced the first tranche of $100 million of the total $400-million foreign currency convertible note (FCCN) issue at Rs 573.10 per share. This price is at a 17.5 per cent premium to the company's closing share price on the ...
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Reliance Energy to raise securities in global markets
RELIANCE Energy Ltd has decided to raise funds in the international markets. REL on Tuesday informed the Bombay Stock Exchange that its board of directors has, on April 18, approved issue of securities in the international markets. Mr Anil ...
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INSIGHT
Power of the positive manager
WHEN a glass of water — filled 50 per cent to its capacity — is displayed, some will say that the glass is half full, and some will say that it is half empty. So also in business life, there are people who ...
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FINANCIAL PERFORMANCE
Cosmo Films net dips 21 pc on margin squeeze
COSMO Films Ltd, a leading player in bi-axially oriented polypropylene films (BOPP) flexible packaging industry, has been hit by declining margins and has witnessed a 21.18 per cent decline in net profits for the financial year 2004. Net ...
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HUMAN RESOURCES
When employers date would be employees
IN HR practice, sometimes, intuitive knowledge works better than the tried and tested formulas that large MNCs follow. For instance, the Bangalore-based Automated Workflow Pvt Ltd (AWPL) has battled concerns such as employee attrition, job ...
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RESTRUCTURING
Greaves shareholders nod for gear unit sale
THE shareholders of the B M Thapar-controlled engineering company, Greaves Cotton Ltd, have approved the company's decision to sell its undertakings engaged in the business of manufacture and sale of power transmission products. The company has ...
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MERGERS & ACQUISITIONS
NewBridge, Maxwell open offer for Matrix
THE two global funds, US-based NewBridge Capital and Singapore Government-owned Temasek Holdings, have announced an open offer to the shareholders of Matrix Laboratories Ltd (MLL) to acquire a further 20 per cent holding in the Hyderabad-based Rs ...
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Citicorp may take 14.16 pc stake in Monnet Ispat
CITICORP International Finance Corporation is all set to acquire 14.16 per cent stake in Monnet Ispat Ltd for Rs 35.27 crore. The fund will be utilised for expanding the company's Raigarh unit manufacturing sponge iron and mild steel. ...
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OUTLOOK
GRT scouting for properties in Hyderabad, Bangalore
THE Chennai-based GRT Hotels and Resorts is scouting for properties in Hyderabad and Bangalore. Talking to presspersons at the launch of the Temple Bay beach resort, Mr T. Nataraajan, Chief Executive Officer, GRT Hotels & Resorts, said that ...
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Totalfina aims for good volume
TOTALFINAELF India, one of the leading companies in the lubricants segment in the country, has adopted an approach of focus and penetration to increase its share in the market. The target is to achieve a 25 per cent growth with an aim to ...
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PERFORMANCE
Keltron arms record 14 pc rise in production
THE five component manufacturing subsidiaries of Kerala State Electronics Development Corporation (Keltron) have recorded an overall production growth of 14 per cent in 2003-04. The flagship Keltron Component Complex Ltd (KCCL) at Kannur ...
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