Financial Daily from THE HINDU group of publications
Saturday, February 16, 2002
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Taj plans Kochi-Kavaratti luxury yacht service
IN a bid to make the best out of the God's Own Country, Indian Hotels Company Ltd, which owns the Taj Group of hotels, proposes to start a luxury yacht service between Kerala and Lakshadweep. The company had sought permission from the ... More

TVS signs Sachin as brand ambassador
TVS Motor Company today announced that it has signed up cricketer, Sachin Tendulkar, as its brand ambassador. Beginning with the indigenous motorcycle model, TVS Victor, Tendulkar will endorse all two-wheeler brands of the company and attend ... More

Colgate declares Rs 2.50 interim
MUMBAI: Colgate-Palmolive (India) Ltd's board has declared an interim dividend of 25 per cent or Rs 2.50 per share for the financial year 2001-2002. The interim dividend will involve a total payout of Rs 37.5 crore. In the previous ... More

Bilcare to spend more on R&D
BILCARE, a Pune based-company engaged in speciality packaging materials for medicines, plans to focus more on research and development to provide end-to-end solution to the packaging needs of the pharma industry. Having already spent over Rs 2 ... More

PRIVATE PLACEMENT


Kochi airport mandates UTI Bank to find investors
COCHIN International Airport Ltd (CIAL) at nearby Nedumbassery has entrusted UTI Bank with the charge of finding prospective Indian and international institutional investors to participate in its equity through private placement. Speaking to ... More

MANPOWER


Siemens unit facing uncertain future
THE future of the Joka unit of Siemens Ltd, employing around 80 workers, appears to be uncertain with the management asking all of them to go on a paid holiday. While the Mumbai office of Siemens is yet to specify its plans for this unit, the ... More

RESTRUCTURING


Peerless hopes to complete revamp by August
THE Kolkata-based Peerless General Finance & Investment Company Ltd, residual non-banking company, expects to complete its revamp exercise in another six months. The General Manager, Marketing, Mr M. Mallik, told presspersons here on Friday ... More

MERGERS & ACQUISITIONS


Pioneer ITI close to finalising buyers
THE two key stakeholders in Pioneer ITI Asset Management Company — the TCK Leasing and Financial Services group and Pioneer Investment Management Inc of the US, have decided to jointly put their stake in the AMC (asset management company) ... More

Titagarh, Ruia Coatex bid for Jessop
TITAGARH Industries Ltd and Ruia Coatex have submitted price bids for acquiring 72 per cent of the Government's stake in Jessop & Company Ltd, a subsidiary of Bharat Bhari Udyog Nigam Ltd . "The price bids, submitted by the two bidders, would ... More

BG buys Enron's offshore assets in India for $350 m
BG India on Friday announced that it had completed the purchase of the entire share capital of Enron Oil and Gas India Ltd (EOGIL) from Enron Corp for $350 million. EOGIL represents the offshore interests of Enron Corp in India, and includes ... More

TotalFina not to bid for Dabhol
THE French energy major TotalFinaElf today announced that it was not going to participate in the sale of 85 per cent offshore equity of bankrupt Enron's Dabhol Power Company (DPC). "The board has decided not to express interest in buying a ... More

Godrej buys stake
MUMBAI: The Godrej Group has bought a 26 per cent stake in Personalitree Academy Ltd for Rs 1.2 crore. Personalitree is an e-varsity providing online soft skills training in communication, lateral thinking, public speaking and creativity. ... More

NEW PROJECTS


Exide puts off plans for Bangladesh operations
AUTOMOTIVE and storage batteries maker, Exide Industries Ltd, has put off a plan to start operations in Bangladesh due to the poor investment climate in that country, a top company official has said. The Bangladesh facility, which was to ... More

Ma Foi sets up unit in Dubai
BANGALORE: Ma Foil Management Consultants Ltd., an integrated human resource service provider, has set up a fully owned subsidiary in the Dubai Media City. Mr Sanjay Ghosh, a senior executive with experience in marketing HR and general ... More

ALLIANCES & JOINT VENTURES


Pfizer to set up academy for clinical excellence
PHARMACEUTICALS major Pfizer Ltd has tied up with Bombay College of Pharmacy to set up an Academy for Clinical Excellence. The company will provide financial support to the tune of $100,000 to the academy over the next five years. Speaking to ... More

Futureschools in pact with Cambridge varsity
THE Chennai-based Futureschools and Cambridge International Examinations (CIE) of the University of Cambridge have partnered to offer Cambridge Awards in information and communication technology (ICT). The tie-up will be formally unveiled in ... More

BHEL plans joint venture for IT-based products
PSU navaratna, Bharat Heavy Electricals Ltd (BHEL), has decided to enter into a joint venture with an IT major to introduce IT-based power sector products, Mr K.G. Ramachandran, Chairman and Managing Director, BHEL, has said. Talking to ... More

Geojit arm ties up with MetLife
GEOJIT Infofin Technologies, a wholly-owned subsidiary of the Kochi based Geojit Securities, has tied up with MetLife India Insurance Company Ltd for the marketing and distribution of insurance products across the country. The initial launch ... More

INTERVIEW


Wockhardt to pursue 3-pronged growth plan
SINCE its initial public offering (IPO) in the early 1990s, Wockhardt, the Mumbai-based pharmaceutical company, has come a long way. It has now joined the elite group of Indian companies with considerable market share and R&D efforts to match it. ... More

DIVERSIFICATION


Eveready plans processed food business
EVEREADY Industries Ltd, the flagship company of the B.M. Khaitan group of companies, plans to enter the fast moving consumer goods (FMCG) sector in the future. The company will be entering the FMCG sector initially with processed food items ... More

SICK UNITS


IDBI told to invite bids for IDPL
THE Board for Industrial & Financial Reconstruction (BIFR) has directed the Industrial Development Bank of India (IDBI) to advertise inviting bids for Indian Drugs & Pharmaceuticals Ltd (IDPL). IDBI, the operating agency (OA), has been directed ... More

OUTLOOK


ETA General plans to double capital base
ETA General Private Ltd, manufacturers of General brand of air conditioners, is likely to double the capital base during the current year, and the Pondicherry unit will be the manufacturing hub for Fujitsu General's markets in South Asia, ... More

Danfoss bullish on India
DANFOSS Industries Pvt Ltd, the wholly-owned subsidiary of Danfoss A/S of Denmark, sees tremendous growth opportunity in India. Speaking to newspersons, Mr Christian Ege, Managing Director & CEO of Danfoss Industries, said that since the ... More

PEOPLE


Mohan Gurunath is DPC MD
DABHOL Power Company on Friday said Mr Mohan Gurunath, currently Senior Vice-President and CFO, would take over as the company's new Managing Director. Mr Gurunath will replace Mr Wade Kline, who has been MD since June 2001. Mr Kline, who will ... More

NEW PRODUCTS & SERVICES


Kalyani Carpenter launches service centre
KALYANI Carpenter Special Steels Ltd, a joint venture between the Pune-based Kalyani group and Carpenter Technology Corporation, US, has launched its first service centre at Peenya, near Bangalore. The Kalyani Carpenter Service Centre will ... More

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