Financial Daily from THE HINDU group of publications
Tuesday, June 24, 2003
Markets (June 23)
BL 2501246.46 (-15.28)
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Dollar (Buy/Sell)46.62/46.76
Gold Std (10 gm)5495 (-5)

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MODERNISATION


Link Locks to upgrade facility for export plan
LOCAL locks manufacturer, Link Locks, is currently upgrading its facility to drive its products in to the highly competitive European and South East Asian markets. This, in fact, would make it the first lock making company to export from India. ... More

ANNOUNCEMENTS


Branded drug from Ranbaxy gets US nod
THE first branded drug from the Ranbaxy-stable in the US market, Sotret, has received approval from the US regulatory authority for the manufacture and commercialisation of the anti-acne drug in a different dosage strength. Sotret is the ... More

SkyCargo plans services to Moscow
EMIRATES SkyCargo starts its services to Moscow's Domodedova Airport on July 1, with 15 tonnes of cargo capacity in wide-bodied A330-200 aircraft, five times a week - Tuesday through Saturday. The new service will connect with flights on the ... More

Tata Engg may get new name
For its upcoming AGM of July 21, the company has proposed in its notice to shareholders a special resolution allowing name change from Tata Engineering and Locomotive Company Ltd to Tata Motors Ltd or Tata Automobiles Ltd or Tata Auto Ltd or Tata ... More

HUMAN RESOURCES


Engg course for QuEST employees
BANGALORE: QuEST, a Bangalore based high-end engineering services company, has entered into an arrangement with Manipal Academy of Higher Education (MAHE) to provide its employees a unique opportunity to pursue their higher education ... More

RESTRUCTURING


Shareholders okay Parry's financial recast
THE shareholders of Parry's Confectionery Ltd (PCL) have approved the proposal for financial restructuring of the company at the extraordinary general meeting of the company held here on Monday, according to a press release. The board also ... More

MERGERS & ACQUISITIONS


Acquisition of duplex board mill at Coimbatore — ITC begins fresh talks with BILT
The sources have indicated that they are aware that BILT is keen not only on getting out from the Coimbatore-based BIPCO Ltd but also on exiting from the duplex board manufacturing business. More

ONGC awaits Govt nod to acquire HPCL stake in MRPL
OIL and Natural Gas Corporation (ONGC) is awaiting the Government's nod on its proposed acquisition of Hindustan Petroleum Corporation Ltd's (HPCL) 16.97 per cent stake in Mangalore Refineries and Petrochemicals Limited (MRPL), where the upstream ... More

NEW PROJECTS


Bajaj Auto launches overseas arm in Dubai
BAJAJ Auto, which registered a 100 per cent growth in exports last year, has launched its first overseas division at the Jebel Ali Free Zone in Dubai emirate as part of its intensified campaign in the international markets with the focus on the ... More

STAR opens office in Dubai Media City
ASIA'S leading media company, STAR Group, a wholly-owned subsidiary of News Corporation, has become the latest broadcasting giant to join Dubai Media City. The company will be using its Dubai Media City facility as an operational base to bring ... More

TRADE & LABOUR UNIONS


Over 3,000 MICO workers resort to strike over wages
OVER 3,000 employees of the Bangalore plant of Motor Industries Co (MICO) went on an indefinite strike today demanding higher wages. Terming the strike as illegal, MICO in a press statement said that even though the department of labour of the ... More

ALLIANCES & JOINT VENTURES


HMT, State Bank of Mysore ink pact
BANGALORE: HMT Ltd has entered into a memorandum of understanding (MoU) with the State Bank of Mysore (SBM) to work together to promote agriculture mechanisation in south India. SBM-HMT Agri Farm Scheme, launched under the pact, will ... More

IPOS


Hind Seals unit to raise $3.6 m via IPO in Nigeria
THE Nigeria-based MINL Ltd, the wholly-owned subsidiary of Hindustan Seals Ltd, is planning to raise $3.6 million through its initial public offering (IPO) in that country. This is probably the first IPO by an Indian company in Nigeria. ... More
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