The Hindu Business Line : Friday, September 05, 2003

Taj will face competition on its own: Tata
JUST hours after the Hilton checked in through a strategic alliance with EIH Ltd, senior officials of the Indian Hotels Company Ltd (IHCL) told shareholders on Thursday that the Taj will face competition on its own. Speaking at the company's ... More

BSES calls for bids from power units — Plans to change procurement strategy
BSES Ltd, one of India's leading private sector power companies, has taken its first steps towards power trading under the newly ratified Electricity Act 2003. The Reliance Group company plans to change its power procurement strategy in line ... More

Tata Motors plans thrust to exports
THE country's largest commercial vehicles manufacturer, Tata Motors Ltd today said that it is targeting to boost its exports and is expecting them to account for 15 to 20 per cent of sales in the next five years from the current six per ... More

Tata Motors plans to enter armoured vehicles segment
LEADING automobile manufacturer, Tata Motors Ltd, is planning to enter the armoured vehicles segment in a year's time. According to a senior company official, the plan would cover armouring vehicles such as Safari, Sumo and a few models of ... More

Vista Pharma to hike authorised capital
VISTA Pharmaceuticals Ltd has informed the stock exchanges that its board of directors at their meetings held on August 22 and 27, have approved a resolution to increase the authorised capital from Rs 8 crore to Rs 10 crore. In a communiqué to ... More

Wockhardt to launch cancer drug next year
AFTER having launched its indigenously produced recombinant human insulin, pharma major Wockhardt Ltd is set to commercially launch its cancer drug, Interferon-alpha2B, in the first half of 2004. Mr Habil Khorakiwala, Chairman, Wockhardt Ltd ... More

United Phos buys herbicide from BASF
UNITED Phosphorus Ltd announced on Thursday that it has acquired Acifluorfen, a herbicide active ingredient from BASF. The company has entered into an agreement with BASF to this effect. Under the agreement, United Phosphorus can immediately ... More

Air Deccan promoters to divest 20 pc stake
THE promoters of the country's first low-cost, no-frills airline, Air Deccan, plan to divest 20 per cent of their stake to raise fresh funds for expanding their services. "In about six months' time, we plan to divest 20 per cent of our ... More

Aurobindo allotment

OVERSEAS BORROWINGS

Max Healthcare ties up IFC loan of Rs 90 cr
MAX Healthcare Institute Ltd has inked an agreement to receive a project loan of Rs 90 crore from the International Finance Corporation (IFC) — a member of the World Bank Group that promotes sustainable private sector investment in ... More

RESTRUCTURING

Alstom okays industrial turbine business sale
ALSTOM Projects Ltd on Thursday said its board of directors have decided to sell its industrial turbine business to any affiliate or subsidiary of the Siemens group. The decision was taken at a board meeting held here and was based on a ... More

DCM Shriram board to discuss PAC plant sale
THE board of directors of the Rs 1,152-crore DCM Shriram Consolidated Ltd (DSCL) will meet on Friday to consider a proposal for sale of the company's poly aluminium chloride (PAC) plant at Kota. Company officials declined to comment or divulge ... More

MERGERS & ACQUISITIONS

CDC gets FIPB nod for 23.49 pc in Punjab Tractors
CDC-PTL Holdings Ltd has received a permission from the Foreign Investment Promotion Board (FIPB) to acquire the 23.49 per cent stake in Punjab Tractors Ltd (PTL). The company had also sought permission for making public offers in order to ... More

NEW PROJECTS

`Greenfield projects more viable' — UB group to set up 4 breweries
AN uncertain beer market nothwithstanding, the UB group is finalising plans to kick off four greenfield breweries. United Breweries Ltd, the flagship brewing entity of Mr Vijay Mallya, and Millennium AlcoBev (MABL), a three-way joint venture ... More

ALLIANCES & JOINT VENTURES

Hilton, EIH sign co-branding pact
The franchisee agreement, wherein EIH will pay a certain percentage of room sales as fee to Hilton, gives the foreign hotel major access to 1,900 rooms in the domestic market. More

OUTLOOK

Skoda Auto India hopes on break-even
SKODA Auto India, the fully-owned subsidiary of the German auto major, Volkswagen, is expecting to break even by 2004-2005. And, it will start exports from India by next year, it says. "For breaking even, we would need to sell 9,000 cars per ... More

M&M hopes for Rs 700-cr turnover from MaXX Pik Up
MAHINDRA & Mahindra Ltd is hopeful of selling 20,000 units of its pick-up, multi-utility vehicle during the current fiscal. This is expected to translate into a turnover of around Rs 700 crore, according to Mr Nalin Mehta, General Manager ... More

PERFORMANCE

Nalco tops output, sales targets
NATIONAL Aluminium Company Ltd (Nalco) has exceeded its production and sales targets set for the April-August period in the current fiscal. According to an official statement here, the public sector aluminium major produced about 17.30 lakh ... More

Tata Motors sales up 37% in August
TATA Motors has reported total sales (including exports) of 24,831 vehicles in August 2003, representing an increase of 37 per cent over August sales last year. Cumulative sales for the period April-August were 1,10,219 units as against 77,026 ... More

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