AWARDS & HONOURS
PCB award for Nagarjuna Fertilizers
NAGARJUNA Fertilizers and Chemicals Ltd (NFCL) has been given the cleaner production award for good practises by the Andhra Pradesh Pollution Control Board (APPCB). The Andhra Pradesh Chief Minister, Dr Y.S. Rajasekhara Reddy, presented the ... More

MERGERS & ACQUISITIONS
K. Raheja Developers buys 4 pc stake in Nirlon
THE K. Raheja Developers group, a leading real estate developer in Mumbai, is believed to have bought around four per cent (23 lakh shares) stake in loss-making polyester company Nirlon Ltd through stock market route. According to market ... More

IndusInd Telecom to get 5.11% stake in Hutchison Max
INDUSIND Telecom Network Ltd, a subsidiary of Hinduja TMT Ltd (HTMT), is likely to be allotted 5.11 per cent equity holding in the consolidated entity of Hutchison Max Telecom Ltd (HMTL). IndusInd Telecom Network Ltd holds a stake of 30 per cent ... More

CORPORATE GOVERNANCE
`Governance ratings becoming popular among investors'
PRIVATE equity investors, in their bid to identify the right prospects, are increasingly seeking feedback from leading credit rating agencies with regard to the corporate governance practices followed by individual companies. Agencies such as ... More

NEW PROJECTS
Ind-Swift Lab to set up Rs 25-crore R&D unit
CHANDIGARH-based Ind-Swift Laboratories Ltd plans to set up a Rs 25-crore R&D centre at Mohali for the development of new molecules. This proposal is among the six major projects cleared recently by the Punjab Government for investments under .. More

REGULATORY BODIES & RULINGS
Xerox Modicorp probe report submitted to Ministry
THE Delhi-based chartered accountants, Surendar K. Jain & Co, appointed to investigate whether the management of Xerox Modicorp Ltd is guilty of fraud, is said to have submitted its report to the Ministry of Company Affairs (MCA). It took the ... More

ALLIANCES & JOINT VENTURES
VSNL ties up with Tata Teleservices for global calling cards
VIDESH Sanchar Nigam Ltd (VSNL) has tied up with Tata Teleservices to offer STD / ISD prepaid calling cards under the brand name `Hello Duniya.' Hello Duniya calling cards will enable customers to make STD and ISD calls from any Tata Indicom ... More

Shasun, Eastman Chemical in tie-up — To make performance chemicals for pharma cos
SHASUN Chemicals & Drugs signed an agreement with Eastman Chemical Company, US, to collaborate on the development and manufacture of performance chemicals for the pharmaceutical industry. At a press conference today, Shasun's CEO, Mr N. ... More

INTERVIEW
`MFL's future hinges on change in urea pricing policy'
MADRAS Fertilizers Ltd (MFL) could come under the purview of BIFR unless the urea pricing policy is altered, according to its Chairman and Managing Director, Mr Sukumar N. Oommen. It has reported severe losses in 2003-04, and with its ... More

STANDARDS & BENCHMARKS
Unichem receives ISO certificates
UNICHEM Laboratories Ltd, a Mumbai based Rs 475-crore pharmaceutical company, has received ISO 9001 & 14001 certificates. Dr Prakash Mody, Chairman And Managing Director of the company, who received the certificate from Mr B. Saraswat, head of .. More

SICK UNITS
Rs 100-cr revival package for BHPV promised
THE Union Finance Minister, Mr P. Chidambaram, has agreed to the proposal for a Rs 100-crore revival package for the ailing Bharat Heavy Plates and Vessels Ltd (BHPV) here and the workers need harbour no apprehensions on the future of the unit, ... More

Kerala Govt offers help to salvage FACT
THE Chief Minister, Mr A.K. Antony, has said that the State Government was willing to extend its wholehearted cooperation to any move initiated by the Centre for ensuring that Fertilisers and Chemicals Travancore Ltd (FACT) is retained in the ... More

OUTLOOK
Ashok Leyland targets $100-m exports
HEAVY commercial vehicles major Ashok Leyland Ltd hopes to register an export earning of $100 million in the current fiscal. In 2003-04, the company earned an export income of $60 million, according to Mr R. Seshasayee, Managing Director of Ashok ... More

PEOPLE
Electrolux CEO on two-day visit to India
ELECTROLUX Group's President and CEO, Mr Hans Straberg, will be on a two-day visit to India on June 22. This will be his first visit to India after he took over as CEO in 2002. According to a company release, "He is visiting India to get a ... More