Corporate
TTK Prestige coopts independent director
BANGALORE: TTK Prestige has inducted Mr R. Rajagopalachari, an independent professional, as an independent director to its board of directors. He will be the Chairman of the Audit Committee. Besides, Mr Rajagopalachari, the Audit Committee will comprise
of Mr Ajay I Thakore and Mrs Vandana Walvekar, both being independent directors.
Indian Seamless in supply pact with Invensys
INDIAN Seamless Metal Tubes Ltd (ISMT) has signed a five-year supply contract valued at $36 million with the UK-based Invensys for supplying tubing.
Cosmo Films to expand capacity
COSMO Films Ltd, the flagship company of the Cosmo group, is planning to expand capacity at its facility manufacturing bi-axially- oriented polypropylene (BOPP) from 14,000 tonnes per annum (tpa) to 23,000 tpa.
`Ind AA+' for Reliance Petro NCD programme
KOLKATA: Fitch Ratings India has assigned an `Ind AA+' rating to Reliance Petroleum Ltd's Rs 6,000-crore NCD programme (comprising existing debt and future issuance).
Surana Tele board okays 3:2 bonus
SURANA Telecom Ltd, the Hyderabad-based company, engaged in manufacture of jelly-filled telephone cables, jointing kits and optical fibre cables, has decided to issue bonus shares in the ratio of three shares for every two held to its shareholders.
Financial Performance
Varun Shipping net up 81 pc
VARUN Shipping Company Ltd has ended the 2000-2001 fiscal with an 81 per cent increase in profit after tax at Rs 16.21 crore against Rs 8.94 crore in the previous year.
Petroleum
IOC sales turnover crosses Rs 1,00,000 cr
INDIAN Oil Corporation's sales turnover in 2000-01 exceeded Rs 100,000-crore mark. Giving this information here today, Mr O. N. Marwaha, Director (Marketing) IOC, said this was for the first time for any Indian company to have achieved this level of turn
over. In 1999-2000, IOC's turnover amounted to Rs 92,000 crores.
Pharmaceuticals
Development of AIDS vaccine -- Chiron Corp in talks with four Indian cos
A NOVEL research-cum-manufacturing agreement between Chiron Corp, the US-based vaccine major, and an Indian company for the development of a potential AIDS vaccine to halt the spread of the deadly disease in the country is in an advanced stage of finalis
ation.
Tyres
Tyre exports up by 6.57% in Apr-Feb
NEW DELHI: Tyre exports from the country touched Rs 742.45 crore in value terms during April-February 2001. This represents a 6.57 per cent increase to the export level of Rs 696.65 crore recorded during the same period in the previous year.
