The Hindu Business Line : Tuesday, April 12, 2005

Majority shareholders okay Bajaj Tempo name change
THE Pune-based Bajaj Tempo Ltd has declared the result of a poll taken at the EGM of the members held on April 5. The result has been in favour of the name change from Bajaj Tempo Ltd to Force Motors Ltd. According to an official ... More

ABB bags $80-m transformer order from NTPC, PowerGrid
ABB, the power and automation technology group, has won India's first major equipment orders for 765 kV extra high voltage (EHV) transformers and shunt reactors from NTPC and Powergrid Corporation of India Ltd. These are the largest transformer ... More

Asian Electronics to sell US lighting co products
The US-based $200-million Westinghouse Lighting Corporation (WLC) is aiming to pick up a share of the estimated Rs 3,000 crore lighting market in the organised sector in India. And for this, it has chosen to partner with Asian Electronics Ltd ... More

SPIC promoters bring in Rs 20 cr
CHENNAI: The promoters of Southern Petrochemicals Industries Corporation have infused Rs 20 crore into the company by subscribing to 1.99 lakh equity shares for a price of Rs 10.05, the company has informed the stock exchanges. Two ... More

Natco allotment
HYDERABAD: The committee of Natco Pharma Ltd (NPL) constituted for the issue of foreign currency convertible bonds (FCCBs) and related matters has allotted 4,84,614 equity shares to Morgan Stanley and Company International, which exercised ... More

Hyderabad Ind plans postal ballot
HYDERABAD: Hyderabad Industries Ltd will seek the approval of its shareholders for an ordinary resolution under Section 293(1)(a) of the Companies Act, 1956 through postal ballot, for sale, transfer or otherwise dispose of the whole of the ... More

PREFERENTIAL ALLOTMENTS

Sunline Tech board allots shares to promoter
THE board of directors of Sunline Technologies Ltd (STL), a Hyderabad-based biotechnology company, has approved allotment of two lakh equity shares consequent upon exercising of conversion option by the allottee, Dr Jayaram Chigurupati, of two ... More

RESTRUCTURING

Sujana Metal submits debt recast plan to IDBI
SUJANA Metal Products Ltd has submitted a debt-restructuring proposal to Industrial Development Bank of India Ltd (IDBI). The proposal is for reduction in interest rates and restructuring of term loan liabilities. If approved by IDBI, the ... More

NEW PROJECTS

Quintiles to expand India operations
CLINICAL research services leader Quintiles Transnational Corp is looking at ramping up its India operations by entering new areas of activity as well as by raising staff numbers. Dr Dennis Gillings, Chairman and CEO of the US-based Quintiles, ... More

REGULATORY BODIES & RULINGS

Ministry of Company Affairs may widen investigation base
IN no mood to leave any stone unturned in addressing investor grievances, the Ministry of Company Affairs (MCA) is considering expanding its investigation base so that not only the defaulting company but also other companies in the Group being ... More

ALLIANCES & JOINT VENTURES

Srei inks deal with Tatas for 10,000 vehicles
SREI Infrastructure Finance Ltd (formerly Srei International Finance Ltd), with its associate company IIEL (Indian Infrastructure Equipment Ltd, popularly known as Quipo), has struck a deal with Tata Motors for 10,000 Tata vehicles. The pact is ... More

IPOS

Mangalam Drugs to raise Rs 14.3 cr thru public issue
MANGALAM Drugs and Organics Ltd (MDOL) is set to raise Rs 14.3 crore through a public issue to fund its expansion plans and support its growth in the anti-malarial segment. The offer is for 65,00,000 shares of Rs 10 each at a price of Rs 22 ... More

RIGHTS ISSUE

Bata India fixes rights issue at Rs 54
BATA India Ltd on Monday informed the BSE that the Rights Issue Committee, at its meeting on April 9, fixed the issue price of the rights shares at Rs 54, including the face value of Rs 10 each. As per the information earlier given to the BSE, ... More

OUTLOOK

MFL reconstruction scheme recommended to Govt
THE Board for Reconstruction of Public Sector Enterprises (BRPSE) has recommended Madras Fertilizers's (MFL) reconstruction programme to the Government, according to the information provided to the stock exchange by MFL. The board has ... More

Samsung eyes Rs 100-cr exports, $1.4-b revenue
SAMSUNG India plans to make a mark with exports to cross Rs 100 crore this year and top about $1.4 billion in revenues. Addressing a press conference here on Monday, the Director, Mr Ravinder Zutshi, said that the company is aiming at about 40 ... More

MMTC aims at Rs 30,000-cr turnover
MMTC, is all set to step up its turnover to Rs 30,000 crore by 2009-10. It posted a 66 per cent increase in the turnover for 2004-05 at Rs 15,100 crore against the previous fiscal. Disclosing this to newspersons here, the ... More

PERFORMANCE

KMML titanium dioxide exports cross 12,000 t
EXPORT of Titanium Dioxide pigment rutile grade by the Kerala public sector Kerala Minerals and Metals Ltd (KMML) at Chavara in Kollam district has crossed the 12,000-tonne mark for the first time in its history during 2004-05. The exports in ... More

PEOPLE

Who will take over the Jindal group mantle?
THE succession of the late steel baron O.P. Jindal, who was the group chairman, will come up as his four sons go back to their working desks and respective companies from Tuesday. The formal selection of the next head of the family, ... More

New K Sera Sera board members
MUMBAI: K Sera Sera Productions has appointed three independent directors on board — Dr M.K. Sinha, former Chairman of State Bank Of India; Mr A.P Naidu, former Vice-President & Company Secretary, Indian Petrochemicals Corp Ltd; and ... More

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