CORPORATE
ANNOUNCEMENTS
Concentric to make India manufacturing hub
Concentric is a manufacturer of lubrication, cooling and fuel lift pumps and supplies to Cummins, Caterpillar, DaimlerChrysler and John Deere, among others.
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Texmaco sells Mumbai property at Rs 13-cr profit
THE K.K. Birla group outfit, Texmaco Ltd has sold off its leasehold land at Worli in Mumbai at a profit of Rs 13 crore to K. Raheja group and is poised to clear off its vast property in Delhi. As the prospects for unlocking of value of the ...
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Reliance hikes petrochem prices
RELIANCE Industries Ltd has hiked prices of fibre intermediates, polyester and polymer products from February 1. Among fibre intermediate products, purified terephthalic acid prices are up 9.4 per cent to Rs 37.20 per kg (Rs 34) and mono ...
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Himatsingka plans US designer studio
HIMATSINGKA Seide Ltd, a silk fabrics exporting company, plans to set up a design studio in the US to boost its design portfolios. A concrete step towards this is likely to be firmed up within six months, sources said. The new subsidiary ...
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COURTS/LEGAL ISSUES
Thaw in Jumbo feud: Vidya talks to estranged daughter
THE family feud that threatened to split the $2-billion Jumbo Group founded by the late Manu Chhabria has thawed with the Chairperson, Ms Vidya Manohar Chhabria, meeting with her estranged daughter, Ms Bhavika Godhwani, in recent weeks. The ...
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MERGERS & ACQUISITIONS
Computershare to buy 50 pc stake in Karvy
COMPUTERSHARE Ltd plans to buy 50 per cent equity stake in Karvy Consultants Ltd for A$10 million, a company release said. The purchase, subject to certain conditions that are expected to be satisfied shortly, will mark Computershare's entry ...
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KRBL acquires integrated rice milling plant in Punjab
KRBL, a leading basmati rice exporter, has acquired an integrated rice milling plant in Dhuri, Punjab. "The company has been able to clinch the deal for approximately Rs 40 crore and proposes to invest close to Rs 40 crore in the plant for ...
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RIGHTS ISSUE
CESC plans rights issue
THE RPG group flagship CESC Ltd is planning a rights issue. The proposal is slated to be taken up at a meeting of the board of directors here on February 9. Company sources declined to give any further details saying things were still under ...
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OUTLOOK
Suolificio may raise shoe soles output
SHOEMAKERS are baring their soles. Shoe soles are now a fashion statement and their looks as much as utility play a part in customers' decision to buy or not to buy. Soles are driving shoe sales and the business is booming. Not to be left ...
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Kennametal Widia to double sales in 3-5 years
THE world's second largest metals company, Kennametal Inc, expects its Indian subsidiary, Kennametal Widia India Ltd, to "double" its sales in three to five years, Kennametal's Chairman, Chief Executive officer, Mr Markos I. Tambakeras said. ...
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Amkette bullish on computer essentials; sees 40 pc growth
ALLIED Electronics and Magnetics Ltd, the maker of computer peripheral and essentials under the brand name Amkette, expects to grow business by about 40 per cent this year riding on the duty cuts on the sector announced recently and launch of new ...
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PERFORMANCE
Hero Honda sales up 35 pc in Jan
HERO Honda Motors Ltd on Monday said that its sales in January rose 35 per cent year-on-year to 1.95 lakh units. Retail sales of the company in the month is expected to be over two lakh units, Hero Honda said in a statement here. In January, ...
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Maruti Jan sales up 30 pc
MARUTI Udyog Ltd on Monday said that its sales in January rose 30 per cent to touch a monthly record, propelled by compact cars, Zen, WagonR and Alto. The company sold 49,140 vehicles in January — its highest monthly sales ever — ...
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