The Hindu Business Line : Wednesday, June 01, 2005

Salem Steel Plant to take up Rs 1,136-cr modernisation
STEEL Authority of India Ltd has worked out a Rs 1,136-crore modernisation plan for Salem Steel Plant as a part of the company's Corporate Plan 2011-12. According to Mr M. Roy, Executive Director of Salem Steel, the plan is divided into two ... More

ANNOUNCEMENTS

BHEL to pay 80 pc final
NEW DELHI: Bharat Heavy Electricals Ltd (BHEL) on Tuesday informed the Bombay Stock Exchange that its board of directors has recommended a final dividend of 80 per cent on paid-up share capital of the company. This includes the 35 per cent ... More

Apollo Tyres suspends operations
NEW DELHI: The management of Apollo Tyres Ltd (ATL) said on Tuesday that it has "temporarily" suspended operations at its Limda plant (Vadodara) from Tuesday. This has been done on account of "strike" resorted to by one section of trade ... More

Win Medicare launches Divigel
NEW DELHI: Win Medicare Pvt Ltd has announced the launch of Divigel, a treatment for women suffering from menopausal and peri-menopausal symptoms. Divigel is manufactured by Orion Pharma. Mr Surjit S. Aurora, Vice-President, said: "We ... More

Jindal Poly Films to tap market to raise Rs 300 cr
JINDAL Poly Films Ltd is entering the capital market with a public issue to raise Rs 300 crore to fund its expansion plans. The company, which manufactures flexible packaging and metallised films, will use the proceeds of the issue to expand ... More

ONGC may soon recover dues from 3 other defaulters
AFTER striking a deal with the Gujarat Electricity Board (GEB) for recovering dues, Oil and Natural Gas Corporation may soon make some headway in recovering dues from Gujarat Narmada Fertiliser Corporation (GNFC), Gujarat Industrial Development ... More

COMPANY LAW

`Independent directors should form 1/3 of board'
Irani panel submits report on company law
TAKING a position that is at variance with that of the Securities and Exchange Board of India, the J.J. Irani Committee on company law has recommended that one-third of the board of a listed company should comprise independent directors. SEBI ... More

Bill on new company law in monsoon session
THE Government plans to introduce a Bill to replace the existing company law during the monsoon session of Parliament, the Company Affairs Minister, Mr Prem Chand Gupta, said here today. "My target is to have a new Companies Act in place by the ... More

ENVIRONMENT

Phasing out polluting vehicles — IndianOil Petronas to gain from Bengal Govt's move
AFTER a prolonged period of low demand growth in West Bengal and the eastern region, IndianOil Petronas Pvt Ltd (IPPL) is now expecting to get on to a high growth path in the current year. This opportunity has been provided by the West ... More

RESTRUCTURING

Dabur may re-evaluate Odopic's relevance to product portfolio
BARELY a month after completing the Balsara acquisition, Dabur India Ltd (DIL) may restructure the portfolio of the acquired brands. While the company has not declared any specific intention to sell off any of the acquired brands just yet, ... More

MERGERS & ACQUISITIONS

Tata Chem to reconsider bid offer for Egyptian Fertiliser
TATA Chemicals Ltd, which saw its open offer for the Egyptian Fertiliser Company (EFC) made through wholly owned subsidiary Homefield International Pvt Ltd bettered by a counter bid, will consider revising its original offer, senior officials ... More

NEW PROJECTS

French chem company gets land in pharma city in Vizag
SNF (India) Private Ltd, a 100 per cent subsidiary of SNF Floerger, has become the first allottee of land in the Jawaharlal Nehru Pharma City (JNPC) coming up in Visakhapatnam. SNF Floerger, a French multinational company, is a major producer of ... More

ALLIANCES & JOINT VENTURES

Shasun products in US, Europe
CHENNAI: Shasun Chemicals & Drugs Ltd has announced that it has entered into an exclusive agreement with the New Jersey-based Alpharma Inc to market its select generic formulations in the US and Europe. Under this agreement, the ... More

STANDARDS & BENCHMARKS

Ranbaxy gets tentative USFDA nod for AIDS drug Lamivudine
RANBAXY Laboratories Ltd (RLL) on Tuesday announced that it has received a tentative approval to manufacture and market Lamivudine tablets, 150 mg, from the US Food and Drug Administration. This is Ranbaxy's and India's first tentative ... More

SICK UNITS

`FACT facing liquidity crisis'
THE lukewarm attitude of the Centre towards taking a final decision on the revival of the ailing Fertilisers and Chemicals Travancore Ltd (FACT) at nearby Udyogamandal will land the company in serious liquidity problems, according to Mr K. ... More

OUTLOOK

NHPC plans to invest Rs 68,000 cr to hike generation capacity — Profits up 10 pc at Rs 684 cr
THE National Hydroelectric Power Corporation Ltd (NHPC) has announced a net profit of Rs 684.58 crore for fiscal 2004-05, an improvement of around 10 per cent compared with Rs 621.38 crore last fiscal. The company has also plans to invest ... More

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