CORPORATE
ANNOUNCEMENTS
Mukesh clarifies on `ownership issues'
THE Chairman of Reliance Industries, Mr Mukesh Ambani, on Monday sought to quell the storm of speculation stirred up by his statement last week that that there were "ownership issues" in the corporate group. He issued a clarification saying his ...
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Ranbaxy launches new drug for urological disorder
RANBAXY Laboratories Ltd today announced the launch of its benign prostatic hyperplasia (BPH) formulation, branded Flotral (Alfuzosin). It is being launched for the first time in the Indian market. This prescription medicine provides effective ...
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Deccan Chronicle plans launch in TN by Feb `05
DECCAN Chronicle Holdings Ltd, which is planning to enter the equity market with its initial public offer, plans to launch its English newspaper, Deccan Chronicle, in Tamil Nadu. It plans to launch the newspaper by February 2005 with an initial ...
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ABB to invest $100 m in India
THE Swiss-Swedish engineering company ABB is investing $100 million over a period of three years for capacity and range expansion in India. The ABB Global's Chief Executive Officer-designate, Mr Fred Kindle, told newspersons that the investment ...
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Reliance keen on bringing gas to Bengal from K-G find
THE impasse over ownership issues regarding the inter-State natural gas grid has taken its toll on GAIL (India) Ltd's proposal to bring gas to Eastern India. While the Union Ministry for Petroleum and Natural Gas is reportedly yet to clear the ...
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BHEL bags Rs 26-cr orders
NEW DELHI: Bharat Heavy Electricals Ltd (BHEL) has bagged orders for two industrial steam-turbine generators (STG), one in Madhya Pradesh and the other in Chhattisgarh, valued at Rs 26 crore. Maihar Cement Ltd (MCL), a unit of Century ...
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ACCOUNTING STANDARDS
ICAI disclosure norms for court-ordered accounts
THE Institute of Chartered Accountants of India (ICAI) has spelt out the disclosures that companies have to make in their financial statements in situations where a court/tribunal makes an order sanctioning an accounting treatment different from ...
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FINANCIAL PERFORMANCE
Ford India sales income up 29 pc; net loss pared
HELPED by a 51 per cent jump in the number of vehicles sold, Ford India Ltd has reported a 28.75 per cent increase in sales income (net of excise) and a reduced net loss in 2003-04 over the previous financial year. It carried over an ...
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NEW PROJECTS
To fund capacity expansion — Bajaj Hind mulls Rs 100-cr equity infusion
BAJAJ Hindustan Ltd (BHL), the country's biggest sugar manufacturer, may go in for fresh equity infusion of Rs 100 crore to part finance its ongoing capacity expansion drive. The company has mandated I-Sec to study the matter. "If required, we ...
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TRADE & LABOUR UNIONS
Talks on Bajarang Jute mill reopening
GUNTUR: The tripartite talks on the issue of reopening of Bajarang Jute Mill here are scheduled to be held in Hyderabad later this week, before the Commissioner of Labour. The management declared a lockout on Friday over a dispute on ...
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ALLIANCES & JOINT VENTURES
Deccan Gold signs exploration pact with De Beers
"The agreement enables Deccan Gold to explore for gold in De Beers areas, while De Beers can look for diamonds on the other's areas."
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DS Group plans jt venture with Lotte for confectionery biz
After Candico, the only homegrown domestic company in this business now, the Rs 750-crore DS Group plans to become the second domestic entrant, by forging a joint venture with the Japanese major Lotte Company Ltd. The Rs 75-crore venture plans ...
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Motherson Sumi to set up second venture with Woco
MOTHERSON Sumi Systems Ltd is setting up its second joint venture with Germany-based Woco group. The company is in an advanced stage of acquiring a bankrupt company in Europe and expects to complete the acquisition by January next year. The ...
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OUTLOOK
Eicher eyes Rs 2,000-cr turnover this fiscal
EICHER Motors Ltd has targeted total sales of Rs 2,000 crore this fiscal, up from Rs 1,565 crore last year riding on the launch of a range of vehicles. Addressing a press conference here today to announce the launch of its newest offering ...
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MPI to invest Rs 10 cr to double capacity
MEAT Products India Ltd (MPI) at Edayar near Koothattukulam is to double its capacity next year apart from taking steps to procure enough unproductive livestock to meet its meat requirement. With an investment of Rs 10 crore, adequate ...
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TRENDS
The meeting that never was
MEDIAPERSONS were seen in large numbers waiting outside Sea Wind, the Ambani residence in south Mumbai, from the early hours of Monday morning. It had been reported that the Ambani family, including the two sisters, would be meeting on Monday ...
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Rupee options a hit among corporates
"Corporates are opting for zero cost options in larger numbers. In the case of these leveraged options, a premium is not required to be paid up front."
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