The Hindu Business Line : Tuesday, September 23, 2003

TVS Motor plans test track in Hosur
TVS Motor Company is in the process of constructing a test track at Hosur in Tamil Nadu. Sources in the know say that the company has already purchased about 200 acres of land for that purpose. It is understood that the track could cost ... More

ANNOUNCEMENTS

Harrisons Malayalam to sell rubber estate to pare losses
HARRISONS Malayalam Ltd (HML) of the RPG group has decided to sell one of its rubber estates in Kerala probably to liquidate the plantation company's huge accumulated losses. The director's board meeting held here on Monday has taken the ... More

Tata Steel in pact for titania project in TN
TATA Steel has signed an agreement with its consortium partners for setting up its titania project in Tamil Nadu. The consortium comprises Outokumpu Finland's physical separation division based in the US; Outokumpu-Lurgi, Germany; Pincock Allen ... More

Natco launches drug for brain tumour therapy
NATCO Pharma Ltd (NPL), the Hyderabad-based pharmaceutical company known for its time-release technology, has announced the launch of yet another product from its Oncology platform. The product, Temozolomide, under the brand name `Temonat' is ... More

BEL declares Rs 7 dividend
BHARAT Electronics Ltd has declared its highest ever dividend of 70 per cent to its shareholders for fiscal 2002-03. The Chairman and Managing Director, Dr V.K. Koshy, announced this at the company's AGM held here on Monday. During the same ... More

Eureka Forbes plans carbon blocks for water filters
EUREKA Forbes Ltd (EFL) with technical assistance from the Singapore-based Filtrex International Pte Ltd is planning to introduce carbon blocks in water filters for domestic water purification by November this year. Filtrex, which has a ... More

COURTS/LEGAL ISSUES

Delhi HC defers hearing on Pepsi's petition against CSE report
THE Delhi High Court on Monday deferred the hearing of a petition filed by PepsiCo India challenging the Centre for Science and Environment's (CSE) report that alleged the presence of pesticide residue in soft drinks. The hearing has been ... More

CORPORATE GOVERNANCE

RIL ranks fourth in Asiamoney poll
BELIEVE it or not, Indian companies lead the pack with four positions in the `Top 10' in Asiamoney's corporate governance poll on Asian companies in the energy sector. For the first time, Reliance Industries has joined the club of a ... More

NEW PROJECTS

Unichem Lab plans Rs 80-cr expansion — New unit to be set up in H.P.
UNICHEM Laboratories Ltd has chalked out a Rs 80-crore expansion programme that will include setting up of additional formulation and active pharmaceutical ingredient (API) facilities. Addressing the 40th annual general meeting here on Monday, ... More

Oscar plans new unit in HP
OSCAR is setting up its fourth unit outside Delhi, in Himachal Pradesh (HP). Currently, besides the two units in Delhi, it has one each in Punjab, West Bengal and Himachal Pradesh. "We expect the unit to be commissioned post Diwali," Mr Kishan ... More

Taparia Tools to tap Europe, US markets
In the domestic sector, the company plans to shift its market focus from technicians to households. It has come out with a new product, Home Tool Kit, which it plans to market as an "essential requirement" of each household. More

SICK UNITS

Nagarjuna plans legal action against APSFC
BLAMING the Andhra Pradesh State Financial Corporation (APSFC) for all its woes and current sickness, the Hyderabad-based Nagarjuna Institute of Software and Technology Ltd (NISTL), formerly Nagarjuna Granites, has decided to initiate legal ... More

OUTLOOK

Agro Tech plans to expand Sundrop brand
AGRO Tech Foods Ltd, a 51 per cent subsidiary of the international agribusiness major Conagra, is looking at the possibility of extending its flagship edible oil brand, Sundrop, to other food offerings, Mr Utpal Sen Gupta, President of the ... More

SABMiller not to push for ending trade sops for now
THE global beer conglomerate SABMiller is in no hurry to rewrite trade sops, as they exist in the domestic alcoholic beverage industry today, which is a major drag on the profitability of most brewing concerns. Speaking to Business Line, ... More

UL India plans acquisition route for expansion
UL India, an affiliate of the US-based Underwriters Laboratories Inc specialising in safety and quality certification, will be looking at acquisition for its growth as the country was emerging as a major growth centre in the Asia and Pacific. ... More

PERFORMANCE

State Trading Corpn turnover up, to pay 20 pc
THE State Trading Corporation of India (STC) has announced a 20 per cent dividend for the year 2002-03. During the year, STC recorded a 60 per cent increase in its turnover from Rs 1,582 crore in 2001-02 to Rs 2,533 crore in 2002-03, a company ... More

TRENDS

CD recording of board meetings suggested
WITH board meetings through tele/video conferencing soon to become a reality when the Companies (Amendment) Bill 2003 gets passed, the Institute of Company Secretaries of India (ICSI) in a consultative paper on the issue suggests recording of ... More

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