The Hindu Business Line : Saturday, February 19, 2005

Tatra Trucks plans to launch new HCV
TATRA Trucks, the heavy commercial vehicles manufacturer, plans to launch a highway transportation vehicle by the year-end to add to its existing portfolio of HCV. The company hopes to produce a 20-tonne, 250-horsepower engine vehicle, said Mr ... More

Sterlite signs supply contract with Chile's Escondida mine
STERLITE Industries (India) Ltd, the copper business arm of Vedanta Resources Plc, announced on Friday that it has signed a long-term contract with the world's largest copper mine, Escondida in Chile, for the supply of copper concentrate to ... More

Toyota Qualis variant
A NEW model of Qualis from Toyota Kirloskar Motors (TKM) will soon be on the roads, according to its Deputy Managing Director, Mr K.K. Swamy. It will be a much more advanced and customer-value driven vehicle. Addressing a press conference here, ... More

Merven Drug plans preferential issue
MERVEN Drug Products Ltd (MDPL) is holding its board meeting on February 24 to consider the transfer of business of Arch Pharmachem and for offering preferential shares to various parties. The company has informed the stock exchanges on Friday ... More

VLCC to expand to Dubai
VANDANA Luthra's VLCC Health Care Ltd will open its first centre in Dubai in the first quarter of the next fiscal. Mr Mukesh Luthra, Managing Director of the VLCC (Vandana Luthra Curls and Curves) group of companies, who was in Mangalore ... More

Nava Bharat's new furnace takes off

BUYBACK

MCA intends to have say in share buyback
The `concept' rules for the new company law proposed by the Ministry also allows for share buy-back by unlisted public and private companies. More

CORPORATE BONDS

PSU bond obligations will be honoured, say officials
THE Centre has taken note of the default in meeting bond obligations issued under sovereign guarantee by two public sector undertakings under the Ministry of Heavy Industries, namely Instrumentation Ltd and HMT Ltd, and is working out a plan to ... More

RESTRUCTURING

Hindustan Motors to hive off 2 units; Actis to pick up stake
HINDUSTAN Motors is believed to be considering a move to hive off its Pithampur and Hosur plants into a separate company and rope in private equity investor Actis to pick up stake. According to industry sources, the auto major would retain the ... More

Zenith plans to hive off textile division
ZENITH Ltd said it plans to hive off its textile division to either a subsidiary company or a third party. The company informed the Bombay Stock Exchange on Friday that its board is meeting on February 25 to consider and approve the proposal of ... More

MERGERS & ACQUISITIONS

Chhabria family seeks exit from SWC biz — Calls for fresh bid on parent company
THE Jumbo group, managed by the Manu Chhabria family, has put the entire array of Shaw Wallace & Co Ltd's (SWC) businesses on the block and has asked interested bidders to value the company. The company has interests in gelatines, agro ... More

Crisil board backs S&P's open offer
THE board of directors of Crisil Ltd on Friday resolved to support the open offer for the company made by the McGraw Hill Companies. The board, "having regard to the relevant provisions of the Foreign Exchange Management Act, and the Foreign ... More

Pantaloon to pick up 15.73 pc in Galaxy
PANTALOON Retail (India) Ltd on Friday announced that it is taking a 15.73 per cent stake in Galaxy Entertainment Ltd. Pantaloon will acquire 20 lakh equity shares of Galaxy Entertainment Corporation Ltd of Rs 10 each fully paid-up at a ... More

NEW PROJECTS

Eskay K`n'it to expand capacity
ESKAY K`n'it plans to invest Rs 316 crore to expand its spinning and fabric capacities. The company, which is into spinning, processing, knitting and garments, is raising its spindlage to 75,000 (from 50,000) and fabric capacity to 11,000 ... More

ALLIANCES & JOINT VENTURES

Delphi to explore more jt ventures with TVS
DELPHI, the world's largest auto component manufacturer, is exploring the possibilities of setting up more joint ventures with the TVS group, Mr Guy Hachey, President, Delphi Energy Chassis Systems, told newspersons here. Mr Hachey ... More

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