The Hindu Business Line : Tuesday, July 26, 2005

Unichem suspends Roha plant operations
MUMBAI: Mumbai-based Unichem Laboratories has suspended production at its Roha factory in Maharashtra due to flooding in the region. The factory is adequately insured and Unichem has taken measures to minimise the loss, the company told ... More

Ford's new car to make global debut in India
DEFINING India as a priority market for the company, Mr David Friedman, Managing Director and President, Ford India, today announced that the world premiere for the company's next vehicle is slated to be in India. Though the company did not ... More

Apollo Hospitals offloads 25 pc stake in Apollo Health Street
APOLLO Health Street Ltd, a global healthcare company which offers IT solutions and operates as a BPO too, has ceased to be a subsidiary of Apollo Hospitals Enterprise Ltd, thanks to the parent company's decision to offer a little over 25 per ... More

COMPANY LAW

`No extension of deadline for revised clause 49 compliance'
THE Securities and Exchange Board of India (SEBI) has ruled out any extension of the December 31 deadline set by it for compliance by listed companies with the revised clause 49 of the Listed Agreement. "No concerns about December 31 deadline ... More

AWARDS & HONOURS

IOC, GAIL bag awards
INDIAN Oil Corporation Ltd has bagged five awards in various categories at the National Petroleum Management Programme (NPMP) Awards for excellence. GAIL (India) Ltd got the NPMP award in recognition of excellence in Enterprise Category for ... More

ACCOUNTANCY

Amendment to accountants Bill referred to GoM
THE accountancy professionals may have to wait a while before the Bills governing their professions — Chartered Accountants, Company Secretaries and Cost and Works Accountants — finally gets the Parliamentary approval. The Cabinet on ... More

RESTRUCTURING

Reliance board may consider de-merger plan tomorrow
THE board of directors of Reliance Industries Ltd, which is to meet on Wednesday to consider the quarterly results, is likely to approve the company's de-merger plan involving Reliance Infocomm, Reliance Energy and Reliance Capital, in line with ... More

MERGERS & ACQUISITIONS

SAIL, NTPC plan to merge two joint ventures into single entity
SAIL and NTPC are planning to merge two of their existing joint ventures into a single entity. The two joint venture companies are NTPC SAIL Power Company Pvt Ltd (NSPCL) and Bhilai Electric Supply Company Pvt Ltd (BESCL). Both are 50:50 ... More

Dabhol stake at Rs 150 cr
SBI has contributed about Rs 150 crore to the equity base of the new-look Dabhol project, which is now officially called Ratnagiri Gas & Power. ICICI and IDBI are two other institutional stakeholders, commanding a sizeable portion of the ... More

Exim Bank to buy 2.5% stake in Bombay Rayon
EXPORT-Import Bank of India (Exim Bank) on Monday said it plans to make its first investment in the equity of a domestic Indian company by buying shares worth Rs 5 crore in Bombay Rayon Fashions Ltd (BRFL). The bank will subscribe to 10,000 ... More

Strides Arcolab plans to buy manufacturing facility in Europe
STRIDES Arcolab has informed the Bombay Stock Exchange of its proposal to acquire manufacturing facilities in Europe. The board is meeting on July 29 to consider the issue. Strides also said it plans to set up a company within or outside the ... More

Novopan to sell US subsidiary
THE board of directors of Novopan Industries Ltd (NIL) at its meeting held on Sunday had decided to sell investments its wholly owned foreign subsidiary company - GVK America Inc. The company informed stock exchanges that the board has ... More

NEW PROJECTS

Dahej project: ONGC may place orders for equipment by Aug
ONGC is expected to place orders for equipment for the Rs 900-crore methane (c2) - propane (c3) project at Dahej SEZ in Gujarat in August this year. The c2-c3 plant will produce feedstock for the proposed Rs 4,000-crore petrochemicals ... More

Nava Bharat Ferro plans Rs 200-crore expansion
NAVA Bharat Ferro Alloys Ltd (NBFAL) is evaluating expansion plans involving around Rs 200 crore investment for its ferro alloys, power and sugar facilities. This is part of the company's mega plan to attain control over power and ores in a ... More

TRADE & LABOUR UNIONS

Suspension issue: Honda workers clash with police
AROUND 100-150 employees of the Gurgaon manufacturing unit of Honda Motorcycle & Scooter India Pvt Ltd (HMSI) were injured on Monday in a violent clash with the local police, while protesting against the company's management for sacking four .. More

DIVERSIFICATION

ONGC to raise Rs 230 cr from N-E region for power transmission SPV
ONGC is tapping investors in North Eastern States for equity participation of close to Rs 230 crore in North Eastern Power Transmission Corporation. NEPTC is a special purpose vehicle floated by ONGC and Power Grid Corporation of India Ltd to ... More

BONUS ANNOUNCEMENTS

Astra Microwave board okays 1:1 bonus issue
HYDERABAD: THE board of directors of Astra Microwave Products Ltd, at its meeting held on Monday, has approved issue of bonus shares to the shareholders in the ratio of 1:1. The board has also approved sub-division of equity shares of ... More

SICK UNITS

Dunlop won't come cheap, says Jumbo
Chhabrias reassessing revival package
THE Jumbo group is in no hurry to cash out of the ailing Dunlop India Ltd and has said that the potential suitors who have aired their interests in the closed company should not harbour hopes of "getting it cheap." Jumbo, with controlling ... More

Pennar Steels mulls capital restructure
PENNAR Steels Ltd (PSL) has decided to restructure its capital and also go in for preferential offer to raise funds, in line with the scheme of reconstruction and arrangement sanctioned by the Andhra Pradesh High Court and the lending ... More

Prospects for cost accountants
VISAKHAPATNAM: The role of a cost accountant is becoming increasingly important, as the Indian industry is striving to become cost-effective and competitive, Mr I.S.S Ganesh, General Manager, Bharat Heavy Plate and Chemicals, has ... More

OUTLOOK

Hero Honda to finalise third unit location, investment soon
TWO-WHEELER manufacturer Hero Honda Motors is close to finalising a location for its third manufacturing plant in the country. The company, which now has capacities of 2,40,000 units annually from its existing manufacturing facilities will ... More

Apollo plans hospitals in seven `mini metros'
APOLLO Hospitals group will utilise Rs 105 crore of the Rs 305 crore collected through its recent GDR issue, to put up 120-bed `First Med Hospitals' in seven mini-metros. Each hospital is expected to cost Rs 15 crore. `First Med' is Apollo's ... More