CORPORATE
ANNOUNCEMENTS
Investment decisions — Reliance Energy to consult RIL
The REL board requested the six directors who had resigned to reconsider their decision.
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SAIL to hike HR prices from today
STEEL Authority of India Ltd (SAIL), the largest domestic steel maker, has decided to increase the prices of various hot-rolled steel products with effect from Wednesday. The net hike in prices of various HR categories of steel would be about Rs ...
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BEL declares 40 pc interim
BANGALORE: Bharat Electronics Ltd has declared a 40 per cent interim dividend for 2004-05. This was decided at the board meeting held in Pune on Tuesday, a BEL release said. ...
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CORPORATE DISPUTES
Reliance Info to challenge penalty
RELIANCE Infocomm will challenge the penalty imposed by the Department of Telecom (DoT) for alleged violation of international long-distance (ILD) licence conditions. The company will send its reply to the DoT notice in the next few days, ...
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AWARDS & HONOURS
Tata Chem bags award
MUMBAI: Tata Chemicals Ltd (TCL) has been awarded the `Sword of Honour' by the British Safety Council, for its safety management system. Mr Homi Khusrokhan, Executive Director, TCL, received the award at a function in London last week, ...
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Sanghi Quality Circle feted
HYDERABAD: A quality circle at Sanghi Polyesters Ltd has won the 17th State-level Quality Circle Competition organised by the Confederation of Indian Industry (CII) here on Tuesday. Adarsh Quality Circle bagged the award for its project ...
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INSIGHT
Amendment to Companies Act — Should reflect the spirit of times
That the proposed amendment of the Companies Act, 1956 envisages fewer sections, instead of more, is welcome in itself. In all other areas too, the new Act should reflect the spirit of the times — a liberalised regime and voluntary compliance c onsistent with sufficient safeguards to protect public interest, says R. Parthasarathy.
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CORPORATE BONDS
SEBI clarifies on FII limit in corporate debt
THE Securities & Exchange Board of India (SEBI) clarified that investment in corporate debt is not included in the overall limit of $1.75 billion. The Government had announced in the last budget that overseas portfolio investments in Indian ...
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MERGERS & ACQUISITIONS
UB offers Rs 131 cr for Chhabria's stake in Herbertsons — Files application before SC
THE UB group Chairman, Mr Vijay Mallya, has offered Rs 131 crore to buyout the 49 per cent stake owned by Mr Kishore Chhabria in Herbertsons Ltd, the country's third largest spirits company. UB filed an application before the Supreme Court on ...
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NEW PROJECTS
GAIL in talks for stake in China Gas — Plans Rs 2,000 cr investments in Russia
GAIL (India) Ltd is in talks to buy minority stake in the Government-owned China Gas Holding Company for setting up city gas distribution grid in Beijing and other Chinese cities. Mr Prashanto Banerjee, Chairman and Managing Director, GAIL ...
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Nandan Biomatrix to set up R&D unit for jatropha
BIO diesel major D1 Oils of UK and the Hyderabad-based Nandan Biomatrix Ltd (NBL) have entered into an agreement for establishing a research and development centre for jatropha seedlings and also to set up a seed bank for bio diesel plantations. ...
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REGULATORY BODIES & RULINGS
Rehab packages — No sops for companies with positive net worth: BIFR
COMPANIES under rehabilitation packages cannot avail themselves of any special concessions or relief from public institutions and banks once their net worth turns positive. The Board for Industrial and Financial Reconstruction (BIFR) in a ...
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ALLIANCES & JOINT VENTURES
Matrix, aRigen tie up for drug discovery research
ARIGEN Inc, the Japanese pharmaceutical research major, has announced an alliance for drug discovery research with Matrix Laboratories Ltd. The Matrix Chairman and CEO, Mr N. Prasad, and the aRigen President and Chairman, Mr G. Tokoro, signed ...
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INTERVIEW
`We hope to cash in on the construction boom'
KIC Metaliks Ltd has been a significant player in quality cast iron castings business since 1986 and a producer of pig iron since 1998. It currently produces 1,20,000 tonnes per annum of pig iron on technology obtained from Korf of Brazil. ...
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BONUS ANNOUNCEMENTS
Impal proposes 1:1 bonus
THE board of directors of India Motor Parts and Accessories Ltd (Impal) on Tuesday recommended an issue of bonus equity shares in the ratio of one bonus share for every existing equity share. The company will seek its shareholders' approval ...
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PERFORMANCE
Gulf Oil posts Rs 200 crore turnover in H1
GULF Oil Corporation has recorded a turnover of Rs 200.68 crore in the first half-year ending September, registering an increase of 12.84 per cent than in the previous year. The company has also posted a net profit of Rs 12.25 crore in the ...
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PEOPLE
New CEO for Airtravel
THIRUVANANTHAPURAM: Airtravel Enterprises India Ltd has announced the appointment of Mr A.G.K. Kumar as the company's Chief Operating Officer. Mr Kumar will be based in Thiruvananthapuram and will be responsible for the company's ...
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Baweja is new HAL Chairman
BANGALORE: Mr Ashok K.Baweja takes over as the new Chairman of Hindustan Aeronautics Ltd on Wednesday (December 1). He succeeds Mr N.R.Mohanty, who has superannuated after heading the company since September 2001. Mr Baweja joined the ...
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