The Hindu Business Line : Thursday, August 25, 2005

Posco to pump in $50-m FDI
SOUTH Korean steel-maker Pohang Steel Company (Posco) is planning to pump in around $50 million in foreign direct investment (FDI) within the next few months, after which it would apply for prospecting licences for iron ore, the company's chief ... More

NDTV's foreign holding could touch 26 pc
THE Prannoy Roy promoted New Delhi Television Ltd (NDTV) today informed the Bombay Stock Exchange that the foreign holding in the company would reach 26 per cent if the Government gives its nod for transferring 15 per cent equity to daughter Ms ... More

Iran oil co not to exit CPCL
"WE would rather stay in a small house of our own rather than rent a room in a big palace," was how Mr M.B. Samiei Khonsari, National Iranian Oil Company's nominee on the board of Chennai Petroleum Corporation Ltd (CPCL), described NIOC's ... More

Hero Honda to foray into scooter segment
EVEN as a decision on the company's proposed third manufacturing plant is expected to be taken "very soon," Hero Honda Motors Ltd has decided to launch a scooter model and one more motorcycle model in the current financial year. The company, ... More

L&T to rebuild Kensington Oval in Barbados
LARSEN & Toubro (L&T) has won a Rs 211-crore order for rebuilding the famed Kensington Oval in Barbados, in the West Indies, from the World Cup Barbados Inc (WCB). The company will have total responsibility of the construction and execution o More

UltraTech Cement allots Rs 600 cr for captive power plants
ULTRATECH Cement Ltd has earmarked Rs 600 crore for installation of captive power plants, chiefly a 92-megawatt lignite-based plant at Gujarat Cement Works, which will be commissioned by July 2007. This will lead to savings in power costs of Rs ... More

Clarification

CORPORATE DISPUTES

TCG-Bengal Govt fallout precedes IOC's induction into Haldia Petro
WITHIN five years of Haldia Petrochemical's (HPL) existence, two friends, the West Bengal Government and The Chatterjee Group (TCG), have turned into foes. Differences over the induction of the Indian Oil Corporation (IOC) into HPL have taken ... More

RoC served show-cause on HPL board members
A little known fact is that, based on a complaint filed by IOC in July this year at the Department of Company Affairs, the Registrar of Companies show-caused all the board members, including the State Industry and Commerce Minister, Mr Nirupam ... More

OVERSEAS BORROWINGS

Reliance to raise $348-m term loan
RELIANCE Industries Ltd (RIL) has mandated a group of leading international banks for syndicating $348 million term loan facility for three years. The facility intends to refinance two existing higher cost loans, said a company release here ... More

COURTS/LEGAL ISSUES

`Brand-repair' a major issue for drug cos: KPMG
DRUG companies are indeed having a bad PR (public relations) day, if the Vioxx-aftermath is any indicator to go by. Not surprising then, `brand repair' is one of the major risks identified by global consultants KPMG for the drug industry, in ... More

ENVIRONMENT

Toyota, TERI to set up model to study urban pollution
TOYOTA Motor Corporation, on Wednesday, announced its commitment to India as a partner not only in its core business of automobile manufacturing but also in contributing its share in the improvement of environment. Toyota will contribute Rs 70 ... More

Mangalore Chem eco campaign
MANGALORE: Mangalore Chemicals and Fertilisers (MCF) Ltd conducted a public awareness programme on safety, health and environmental issues in Mangalore. Mr Sunil Kulkarni, Head (Ammonia), discussed the plant operations and the ... More

HUMAN RESOURCES

Motorola to hire 1,000 more
MOTOROLA is planning to increase its engineering headcount in India by 1,000 to take the total to 3,500 by the end of next year. Announcing this, Mr Ed Zander, Chairman and CEO, said the company had invested in people in India and also ... More

MERGERS & ACQUISITIONS

Tata AutoComp to acquire German co
TATA AutoComp Systems Ltd (TACO) has announced that it is acquiring the business and assets of Wundsch Weidinger, a German automotive company producing plastic parts and systems for the automobile industry. Wundsch Weidinger had filed for ... More

NEW PROJECTS

Tata Steel board okays new plant in Jharkhand
TATA Steel's board has approved the setting up of a large integrated greenfield plant in Jharkhand. "The proposed steel plant will have an initial capacity of five million tonnes per annum to be completed in four years which will be extended ... More

REGULATORY BODIES & RULINGS

Bittersweet fruits of incorporation
Corporatisation has mixed results, says S. Murlidharan More

ALLIANCES & JOINT VENTURES

TELK in talks with BHEL for tie-up
THE State-owned Transformers and Electricals Kerala (TELK) is in the process of entering into a tie-up with Bharat Heavy Electricals Limited (BHEL) in a bid to strengthen co-operation between the State and central public sectors. The first ... More

SOCIETY & DEVELOPMENT

Aspen Comm initiates social projects
ASPEN Communications Private Ltd, engaged in running call centres and provider of e-commerce, has initiated social responsibility projects. As part of the project, the company has decided to provide resources to Government schools. This week ... More

OUTLOOK

Equity participation in projects — HPCL mulls `chain offer' concept
This would mean that those seeking to partner with HPCL would have to pick up stake in more than one of its projects. More

Toyota Kirloskar still keen on small car project
TOYOTA Kirloskar Motor has said that the company is keen on introducing a small car as part of its strategy to ramp up volumes, but is yet to take a decision. It hopes to garner a 10 per cent market share by 2010. Stating this here on ... More

Creamline Dairy aims at Rs 220-cr turnover
CREAMLINE Dairy Products Ltd (CDPL), which registered Rs 150-crore turnover last year, hopes to achieve Rs 220 crore this financial year. Mr C. Balaraj Goud, Director (Marketing) of CDPL, said the company plans to expand to Maharashtra this ... More

Whirlpool of India hopes to cut losses this fiscal
HOME appliances maker, Whirlpool of India, hopes to cut its losses "significantly" in the current financial year by boosting sales volumes and improving operating efficiencies. "We are expecting better results for paring our losses ... More

Rane Brake eyeing commercial aviation
RIDING on the success of securing the approval for aircraft brakes for Kiran Mk I aircraft, Rane Brake Linings Ltd has set its sights on the growing commercial aircraft industry. The `type certification' received by Rane Brake is not just ... More

Matsushita eyes India for eco-friendly goods
CONSUMERS could soon get a respite from high electricity bills for using consumer durable goods. Japanese electric major Matsushita Electric Industrial Co Ltd is exploring the possibility of bringing its Panasonic brand environment friendly ... More

PERFORMANCE

RINL net profit up 30 pc in 2004-05
RASHTRIYA Ispat Nigam Ltd (Vizag Steel Plant) earned a record net profit of Rs 2,008.09 crore during 2004-05 against Rs 1,547.19 crore during the previous year, showing an increase of 30 per cent. According to a company press release, the ... More

PEOPLE

S.K. Goyal to head BHEL Corporate R&D division
MR S.K. Goyal will take charge as General Manager of BHEL's Corporate R&D Division with effect from Thursday. This follows the retirement of Mr S. Balagurunathan, Executive Director, on superannuation. Mr Goyal, an IIT-Kanpur alumni, joined ... More

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