CORPORATE
ANNOUNCEMENTS
Apollo Tyres hikes truck, bus tyre prices
FACED with increased cost-push on the raw material front, especially that of natural rubber, the Rs 2,300-crore Apollo Tyres Ltd (ATL) has increased the prices of its truck and bus tyres by about 2 per cent to 3 per cent. The latest increase in ...
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Hind Rectifiers in talks with Siemens for Rs 40-cr order
HIND Rectifiers Ltd (Hirect), a contract manufacturer of transformers, is in talks with Siemens for a four-year contract valued at close to Rs 40 crore for supplying rectifiers to be used ultimately by the Indian Railways. Mr S.K. Nevatia, ...
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KCP Biotech to launch natural colours in Aug — Plans foray into industrial enzymes, diagnostics
KCP Biotech aims to start its biotechnology operations by first producing natural colours for the food processing and cosmetics industries, to be followed up with more sophisticated products such as industrial enzymes and diagnostic materials for ...
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L&T gets Rs 95-cr order from China
LARSEN & Toubro has won a contract for coal gasification equipment from China valued at Rs 95 crore. With an earlier contract worth Rs 105 crore, L&T now has contracts for fuel extraction systems for Rs 200 crore, said a news release from th
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NEW PROJECTS
Tata Power in talks to set up plant in S Africa
CONSISTENT with the Tata group's aspirations of creating global corporations, Tata Power Company, the Rs 7,000-crore electricity producer and distributor is evaluating an opportunity to set up a 500 MW power plant in South Africa. The African ...
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Visa Industries to set up Rs 1,700-cr integrated steel plant in Orissa
WITH the steel sector projected to grow for the next couple of years, big investments have again started coming into greenfield projects. The Kolkata-based Rs 1,100-crore Visa Group of Industries is setting up a one-million-tonne steel plant at ...
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ALLIANCES & JOINT VENTURES
SAIL to sign MoU with foreign mining company
STEEL Authority of India Ltd (SAIL) would sign a memorandum of understanding (MoU) with a multinational mining company for setting up a joint venture coking coal mining company abroad. An MoU to this effect is expected to be signed before ...
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SICK UNITS
Agreement on TRL to be signed soon
THE State Government has issued orders for signing a memorandum of agreement (MoA) with Mr N. Damodaran, Chairman and Managing Director of the Coimbatore-based NDEE group, who had submitted a proposal over two years ago to revive Travancore ...
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OUTLOOK
Post-merger Jindal Iron & Steel likely to post Rs 802-cr profit
JINDAL Vijayanagar Steel Ltd (JVSL) and Jindal Iron & Steel Company Ltd (Jisco) on Tuesday reported improved financial performance for 2003-2004. However, the boards of neither company recommended a dividend as the proposed merger of JVSL and ...
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Tata Steel expects capacity to go up to 15 mt by 2010
``With the expansion plan already under way, the company's saleable steel capacity will increase to about 5 million tonnes in 2005-06. Plans are being drawn to further enhance the capacity by another 2.5 million tonnes in Jamshedpur. ``It is ...
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PERFORMANCE
CESC posts Rs 92.9-cr pre-tax profit
CESC Ltd, through a preliminary announcement today of its 2003-04 results, declared a Rs 92.9-crore profit before tax and special appropriation for 2003-04 compared with Rs 7.62 crore in the previous year. A CESC spokesman said that lower ...
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Indian Hume Pipe net zooms
MUMBAI: Indian Hume Pipe Co Ltd, engaged in execution of water supply schemes and pipe-laying projects, has reported a 337 per cent increase in its net profit, which touched Rs 50.75 crore last fiscal from Rs 11.60 crore in the previous ...
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