CORPORATE
ANNOUNCEMENTS
Diamond Cables bags order for London-Paris tunnel link
THE Baroda-based Diamond Cables Ltd has bagged an order from Eurostar, which is constructing the London-Paris tunnel rail link, for supply of low-voltage cables. "We have bagged a $3-million (Rs 14 crore) contract from Eurostar. We hope that ...
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Jamshedpur Utilities to offer civic services in other towns
JAMSHEDPUR Utilities & Services Company Ltd (JUSCO), a wholly owned subsidiary of Tata Steel, which provides civic services in the Steel City, has expressed its "national aspirations" and plans to extend select services to other municipalities ..
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OVERSEAS BORROWINGS
United Phosphorus completes FCCB placement
UNITED Phosphorus Ltd said it has completed the placement of $ 70 million through foreign currency convertible bonds (FCCBs) issued under the Swiss law. The lead manager of the issue was Bank Julius Baer & Co Ltd. The FCCBs consists of two ...
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COMPANY LAW
`Amend Act to make cos allot 20% of shares to employees'
THE INTUC national president, Mr G. Sanjeeva Reddy, has said the Centre must amend the Companies Act so as to give effect to mandatory allotment of shares by companies to their employees and the minimum reservation of shares for the employees ...
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AWARDS & HONOURS
Award for Suresh Krishna
CHENNAI: Mr Suresh Krishna, Chairman and Managing Director of Sundram Fasteners Ltd, has been honoured with the `South Lake Friendship Award', by the Mayor of Jiaxing City, Zhenjiang Province, China. The award, started in 1998, is given ...
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RESTRUCTURING
Debt revamp for Techtran Poly
HYDERABAD: Techtran Polylenses Ltd has informed the stock exchanges that Industrial Development Bank of India (IDBI) has sanctioned a debt restructuring in favour of the company whereby IDBI would receive Rs 4.1 crore from the company ...
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MERGERS & ACQUISITIONS
Kalpataru Power to have stake in JMC Projects
KALPATARU Power Transmission Ltd (KPTL) on Saturday said it is acquiring a 40.5 per cent stake in Ahmedabad-based construction company JMC Projects (India) Ltd at Rs 40 per share. After the open offer is completed, KPTL would hold around 51 ...
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Tata Tele may buy Zip Telecom's assets
PAYPHONE service company Zip Telecom is in the process of shutting down operations, and is currently in negotiations with Tata Teleservices for sale of its assets located across the country. Zip has around 25,000 machines installed across the ...
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NEW PROJECTS
Zodiac plans facility
MUMBAI: Zodiac Clothing Company Ltd has informed the Bombay Stock Exchange that it is setting up a highly sophisticated trouser and suite manufacturing facility also at Bangalore. This is meant to help it capture the growing domestic and ...
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ALLIANCES & JOINT VENTURES
Hindustan Seals top bidder for Pennar Aluminium
THE Kolkata-based Hindustan Seals Ltd, now called Manaksia Ltd, is likely to take over the ailing Pennar Aluminium Ltd. Hindustan Seals, a Rs 700-crore privately held company, has emerged as the highest bidder for the Hyderabad-based sick ...
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OUTLOOK
Marico bets on international businesses, skin care services
MARICO Industries Ltd, in the process of innovation, has been consciously shifting towards a high margin portfolio and has found value in international businesses and skin care services. In an over-flogged FMCG market, innovation opportunities ...
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PERFORMANCE
Cadbury sales back to normal levels
A YEAR after the germs infestation controversy, chocolate major Cadbury India is almost out of it with its monthly sales coming back to normal levels. "We are again back to our normal monthly sales of various chocolates brands. Monthly sales ...
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Tata Steel first-half production rises 4 per cent
TATA Steel on Saturday informed that its production of saleable steel for the first half of FY05 amounted to 2.09 million tonnes - four per cent higher than the year-ago level. "Supplies to the auto sector comprising HR, CR and galvanised ...
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PEOPLE
Roche's global head to visit India next week
THE global head of Swiss pharmaceutical major F Hoffmann-La Roche Ltd, Mr William Burns, is visiting India next week to meet senior policy makers for an insight into the present United Progressive Alliance's healthcare policies. With the change ...
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Aga steps down from chairmanship
MUMBAI: Thermax Ltd has informed the BSE that at its board of directors meeting on October 1, Mrs A. R. Aga announced her stepping down as Chairperson of the board with effect from October 5. Mrs. Aga shall continue to be a director on the ...
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