CORPORATE
ANNOUNCEMENTS
Correction
IVRCL Infrastructures & Projects Ltd has achieved a turnover of Rs 775.5 crore during 2003-04, up 75.7 per cent over the previous year's turnover of Rs 441.4 crore. It was mentioned in these columns on June 11 that the growth was 7.5 per cent. ..
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New Rolls-Royce engine bags first Indian order
ROLLS-ROYCE has won its first order for the `Bergen B' gas engine in India, from domestic textile company Garden Silk Mills. The engine will be used for electrical power generation. Designed and manufactured at the Rolls-Royce facility in ...
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PRIVATE PLACEMENT
Ennore Foundries mulls pref issue
THE board of directors of Ennore Foundries Ltd on Friday approved a proposal to raise Rs 20 crore through an issue of non-convertible cumulative redeemable preference shares on private placement basis. Company officials said that the issue ...
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FINANCIAL PERFORMANCE
Greenply net up 23 pc
GREENPLY Industries Ltd (GIL) has announced a 23.02 per cent increase in net profit at Rs 4.59 crore in 2003-04 against Rs 3.73 crore recorded during the previous fiscal. The company's income was up 9.04 per cent at Rs 160.03 crore in 2003-04 ...
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MERGERS & ACQUISITIONS
IOC seeks `fast track' clearance from Govt for global buy-outs
INDIAN Oil Corporation, which plans to buy a "mid-sized" exploration and production company and lined up a war chest of $2 billion for the purpose, has sought fast-track clearance from the Government in line with ONGC Videsh to pursue such deal ...
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NEW PROJECTS
Murli Agro commissions power plant
MURLI Agro Products Ltd (MAPL), the Nagpur-based, Rs 350-crore turnover company, has announced the commissioning of its 15 MW thermal power plant for captive consumption in a record time of 11 months. The power plant was set up at an investment ...
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TRADE & LABOUR UNIONS
Tata Power ex-workers protest ouster of 70 employees
SEVERAL former workers of Tata Power Company on Friday held protests outside the company's headquarters, Bombay House, along with their families, against the ouster of 70 employees, two of whom committed suicide eight months back. These workers ...
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VSP staff to get wage arrears for three years
THE employees of Rashtriya Ispat Nigam Ltd (Visakhapatnam Steel Plant) will get wage arrears for three years and a decision to the effect was taken on Friday in New Delhi. According to a statement issued by the President of Visakha Steel ...
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ALLIANCES & JOINT VENTURES
Toyota inks pact with ING Vysya on auto finance
TOYOTA Kirloskar Motor Private Ltd (TKML) and ING Vysya Bank have entered into a memorandum of understanding under which the bank would extend finance to buyers of Toyota vehicles at a competitive rate of interest. The retain auto-finance ...
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INCOME TAX
Does good business mix with water?
K. Srinivasan on a case of corporate charity
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DIVERSIFICATION
Shanthi group to foray into coconut oil production
HAVING established a niche for itself in the poultry feed and broiler birds segment, Shanthi Group of Companies has diversified into an unrelated product line, with the production of the `Shanthi' brand coconut oil. The product is expected to ...
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BONUS ANNOUNCEMENTS
Wipro AGM okays hike in share capital
SHAREHOLDERS of Wipro Ltd approved the company's plans to increase the authorised share capital of the company from Rs 100 crore to Rs 175 crore at the annual general meeting on Friday. The increase in authorised share capital was primarily to ...
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OUTLOOK
Amul to expand liquid milk biz to other cities — Targets Rs 3,400-cr sales for current fiscal; looks at Pak for foray
THE Gujarat Co-operative Milk Marketing Federation (GCMMF), which has set a target of Rs 3,400 crore sales for the current fiscal, is looking to liquid milk sales in more cities to keep the smile on the face of the Gujarat farmers. Mr B M ...
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PERFORMANCE
Ashok Leyland rides industry resurgence
FISCAL 2003-04 was an exceptionally good one for the commercial vehicles industry and Ashok Leyland Ltd's (ALL) results bear that out clearly. The 66 per cent jump in profit before tax and 28 per cent rise in turnover could not have been ...
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PEOPLE
Ravi Kant named Tata Daewoo Chairman
MR Ravi Kant, Executive Director, Tata Motors will be the Chairman of Daewoo Commercial Vehicle Co Ltd, renamed Tata Daewoo Commercial Vehicle Co Ltd (TDCV) since acquisition by the Tatas. While Mr Kwang-Ok Chae is CEO & President, Mr Praveen ...
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Ma Foi revamps board
THE board of Ma Foi Management Consultants Ltd, a human resource service provider, has been reconstituted to co-opt three Vedior nominees. This follows Vedior NV, a global staffing company, picking up a majority stake in Ma Foi. Accordingly, ...
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Andreas Geliner is Adidas India MD
ADIDAS today said that Adidas India will be separated from Southeast Asia and instead fall under the company's Asia Pacific operations while announcing Mr Andreas Geliner as the new Managing Director of Indian operations from August 1. "In view ...
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