CORPORATE
ANNOUNCEMENTS
Audi to launch 7 new models
GERMAN automaker Audi AG plans to launch seven models in a span of five years and expects to sell 1,000 units of these cars. "We will initially sell three models, the first of which will hit the roads by March," the country manager for ...
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Bacardi Martini downsizing top management in India
THE global liquor giant Bacardi is downsizing its top management in India. Bacardi Martini India Ltd (BMIL), the 74:26 domestic joint venture with Gemini Distilleries, is not likely to replace senior officials who left the company in recent ...
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Serum Institute to launch 5-in-1 vaccine
SERUM Institute aims to launch a single vaccine for five indications (pentavalent vaccine) in September-October 2005. Currently, the vaccine is being put through clinical trials. The company's Director-Sales, Mr S.S. Chandrababu, on Wednesday ...
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Paprikaas bags deal for 3D animated movie
PAPRIKAAS Animation Studios has bagged a multi-million dollar deal from a leading European studio for a full-length 3D animated movie. Titled X and I, the movie is targeted at an adult audience and is slated for a worldwide theatrical ...
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Hind Copper payment to Govt
NEW DELHI: Hindustan Copper Ltd, a public sector unit of the Department of Mines, has paid Rs 90.75 crore to the Government Exchequer during 2003-04. According to an official release, of this, Rs 66.18 crore is excise duty, Rs 9.56 ...
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TECHNOLOGY
`German cos keen on tie-ups for nanotech'
NANOTECHNOLOGY, the new chip on the technology block where big money and products are predicted to be up for grabs, has attracted large corporates like Henkel and Degussa in Germany. With venture capital not easy to get like in the US, Germany ...
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MANAGEMENT
Paragana 2004 in Mumbai
MUMBAI: Paragana 2004, the annual management seminar of NMIMS, Deemed University, is being organised in the city on November 5-6. "Paragana stands for the pollination of ideas which are significant in the boardroom as well as ...
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Sunil Mittal to `step back' at Bharti
THE Chairman and Group Managing Director of Bharti Enterprises, Mr Sunil Mittal, has said that Bharti will increasingly be managed by professionals, with the current senior management moving on to look at new businesses. Speaking at the Oracle ...
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RESTRUCTURING
HLL plans to hive off Sewri facility
HINDUSTAN Lever Ltd has announced plans to hive off its Sewri facility in Mumbai, which manufactures soap and soap intermediates, to a subsidiary. It also plans to dispose of its functionalised biopolymers business including manufacturing ...
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NEW PROJECTS
JSL completes foundation work for ferro-chrome unit
JINDAL Stainless Ltd (JSL) has completed the foundation work for its ferro-chrome furnace at Duburi in Orissa in October and the company expects to operationalise its ferro-chrome facility by the end of the current financial year. "This would ...
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CUMI to set up refractories unit in Gujarat
CARBORUNDUM Universal Ltd (CUMI), part of the Rs 5,266-crore Murugappa group, will set up a castable refractories unit at Okha, close to the company's bauxite mines in Gujarat. "We will manufacture castable refractories at Okha. Castable ...
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Samtel to invest Rs 350 cr to double capacity
SAMTEL Color is planning to invest about Rs 350 crore over the next two years, primarily for doubling the capacity of picture tubes. "We are looking at an investment of about Rs 350 crore for adding more tube capacity. We expect to double our ...
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FrameFlow to invest $5 m in Chennai unit
FRAMEFLOW India Ltd will spend $1 million (Rs 4.5 crore) in setting up a visual special effects production facility in Chennai, which will undertake jobs from Hollywood filmmakers. Over the next 18 months, the company will spend $5 million on ...
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REGULATORY BODIES & RULINGS
Outsourcing mooted for carrying out liquidation proceedings
The Ministry for Company Affairs has mooted that the official liquidators (OLs) attached to High Courts may consider outsourcing their work to professionals such as chartered accountants, valuers and advocates. Concerns have been raised by ...
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TRADE & LABOUR UNIONS
Coromandel Fert signs pact
VISAKHAPATNAM: Coromandel Fertilisers Ltd here has signed a five-year prospective comprehensive production and performance incentive settlement with the union, to be effective from April 1, 2004. In a press release, the management said ...
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ALLIANCES & JOINT VENTURES
NPIL inks two custom manufacturing contracts
NICHOLAS Piramal India Ltd (NPIL) has inked two new custom manufacturing agreements that would add $30 million per annum to NPIL's kitty from the financial year 2007. The first agreement is for the manufacture and supply of a set of ...
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SOCIETY & DEVELOPMENT
Siemens helps build hospital near Bhuj
SIEMENS Ltd, the Indian arm of the German engineering giant, has helped set up a hospital near Bhuj as part of the efforts to rebuild Kutch district of Gujarat that had been devastated by a quake in January 2001. "After the quake struck on ...
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IPOS
Ramky Infrastructure planning IPO
RAMKY Infrastructure Ltd proposes to come out with an initial public offering this year, but not before a few multilateral funding agencies pick up stake in the company. The company is in talks with ChrysCapital, IFC, and ADB for equity ...
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BONUS ANNOUNCEMENTS
Visakha Dairy to pay bonus
VISAKHAPATNAM: Visakha Co-operative Dairy has decided to distribute Rs 7 crore as bonus to dairy farmers in two instalments, according to Mr A. Tulasi Rao, Chairman. Speaking at a function at the Munagapaka milk collection centre in ...
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PERFORMANCE
Vizag Steel Plant posts 45 pc increase in October sales
THE Visakhapatnam steel plant has achieved sales of Rs 655 crore this October against Rs 452.6 crore during October, 2003, a growth of 45 per cent. In a press release issued here on Wednesday, the authorities said the plant had produced ...
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NEW PRODUCTS & SERVICES
Daimler's car with a Mind of its own
A car with a mind of its own and even reads yours... well, almost. Auto major, DaimlerChrysler, on Monday unveiled its ultimate dream machine, the F-500 Mind to a select gathering at a technology seminar celebrating its tenth anniversary in ...
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