PREFERENTIAL ALLOTMENTS
Geodesic okays extension of FII investment limit
THE board of directors of Geodesic Information Systems Ltd has decided to extend the limit of FII investment in the company from 24 per cent to the sectoral cap of 100 per cent of paid-up capital or paid-up value of each series of convertible ... More

Filatex board okays pref issue
FILATEX Ltd has informed the Bombay Stock Exchange that its board, in its meeting held on January 6, has approved the issue of 15 lakh 7.5 per cent cumulative convertible preference shares of Rs 25 each to the company's promoters, including their ... More

OPEN OFFERS
SEBI decision on Ondeo Nalco open offer to set precedent
MINORITY shareholders of Ondeo Nalco India Ltd are eagerly awaiting the directive from the Securities and Exchange Board of India, as the date for opening of the proposed open offer for 20 per cent stake in the company draws near. Earlier, a ... More

CORPORATE DISPUTES
Herbertsons: Mallya, Kishore fail to agree — UB for escrow account for shares tendered in open offer
THE UB group has stated before the Supreme Court that its Chairman, Mr Vijay Mallya's search for an out-of-court settlement with Mr Kishore Chhabria to resolve the dispute for control over Herbertsons Ltd has not progressed on expected ... More

MERGERS & ACQUISITIONS
Ranbaxy completes acquisition of RPG (Aventis)
RANBAXY Laboratories Ltd has completed the acquisition of RPG (Aventis) SA making it the wholly-owned subsidiary of the company. The company will continue to retain the name RPG, to leverage its strong brand equity and visibility in the French ... More

NEW PROJECTS
Deepak Fertilisers setting up Rs 200-cr isopropyl alcohol project
THE Pune-based Deepak Fertilisers and Petrochemical Corporation Ltd on Tuesday said it was undertaking a Rs 200-crore project to manufacture isopropyl alcohol (IPA), a value-added solvent used by the pharmaceutical, agrochemical and imaging ... More

ALLIANCES & JOINT VENTURES
Toyota Kirloskar signs pact with Corpn Bank
TOYOTA Kirloskar Motor Private Ltd in its bid to penetrate into rural and semi-urban markets, has entered into an agreement with Corporation Bank for financing their vehicles. After exchanging a copy of memorandum of understanding with the ... More

INTERVIEW
Sony to tune into younger, peppier look for 2004
SONY has been able to drive growth in terms of viewership and revenue over the past six months primarily by reworking some of its properties. But the big thrust for the channel was provided by its show — Jassi Jaisi Koi Nahin. Mr ... More

OUTLOOK
Kinetic plans to gear up motorcycle share
NEXT fiscal will see Kinetic Group finally making its transition from a predominantly scooter company to a motorcycle company. Though Ms Sulajja Firodia Motwani, Joint Managing Director of Kinetic Engineering, maintains that the group is now a ... More

Britannia plans to consolidate milk biz in Mumbai
HAVING exited from the liquid milk business in Delhi and the Southern markets, the Britannia group is now trying to consolidate its business in Mumbai and Pune. According to officials of its joint venture, Britannia New Zealand Foods Pvt Ltd, ... More

PERFORMANCE
SAIL registers 7.9 pc growth in iron ore production
THE Raw Material Division (RMD) of Steel Authority of India Ltd has registered a 7.9 per cent growth in the production of iron ore during the period April-December, 2003-04, compared to the corresponding period of the previous year. According ... More

Ford reports drop in sales
FORD India ended 2003 with total sales of 42,956 units against 44,683 units in 2002. An increase in domestic sales made up for the fall in exports during 2003, according to company officials. Although the sales last year were lower than in ... More

Rourkela Steel Plant product sales up 11%
IN the first three quarters of the current financial year, 2003-04, Rourkela Steel Plant's (RSP) production of hot metal was 1.3 million tonnes, continuous cast slabs 1.18 m.t. and total saleable steel was 1.14 m.t. On these three accounts, RSP ... More