The Hindu Business Line : Wednesday, October 05, 2005

Blast in GOCL plant: 1 killed
A MINOR accident in the Hyderabad factory of Gulf Oil Corporation Ltd (GOCL), near Kukatpally on Tuesday, killed one worker and injured three. The blast happened at the crystallisation plant in the morning. According to the company, the ... More

ANNOUNCEMENTS

ITC ties up with KVIC to source, distribute Mangaldeep agarbattis
ITC will market Mangaldeep brand agarbattis in conjunction with KVIC and undertake sales promotion initiatives with the Commission's support. More

Welspun Gujarat bags Indonesian order
WELSPUN Gujarat Stahl Rohren, the flagship company of the $500-million Welspun group, has bagged an order for the supply of coated line pipes to the South Sumatra - West Java Gas Pipeline Phase II project, located in the Grissik Pagardewa ... More

S.K. Bangur group revises mill expansion plans
THE S.K. Bangur group, which controls Rama Newsprint and Paper Ltd (RNPL) and West Coast Paper Mills Ltd (WCPML), has revised its brownfield expansion plan. The group will now expand WCPML's capacity first instead of its earlier plan to expand ... More

RINL rules out IPO to raise funds for capacity expansion
"The current scenario of the steel industry is quite upbeat and RINL can raise substantial amount of debt." More

`ACC plant in TN has adequate limestone reserves'
THE Madukkarai unit of Associated Cement Companies Ltd (ACC) has enough limestone reserves that will last for the next few decades and there is no cause for concern, said a senior executive of the company. Speaking to presspersons at the ... More

Patel Engg bags 2 projects worth Rs 374 crore
PATEL Engineering Ltd has bagged two projects in the irrigation and railway sectors worth a total of Rs 374 crore. A company press release said the first project was the Nettampadu lift irrigation project worth Rs 315 crore and the second was a ... More

Kanishk Steel forms exclusive consortium
KANISHK Steel Industries Ltd, a Chennai-based manufacturer of structural steel items, has formed an exclusive consortium of leading dealers to market its products in Tamil Nadu. According to a company press release, the steel consortium — ... More

Videocon's global strategy
KOCHI: During 2006, Videocon plans to manufacture plasma panels from the Italian unit that it recently acquired from Thomson SA of France and launch into the highly competitive upper-end European TV market. The company also plans to ... More

MCF mulls switching to LNG
MANGALORE: The high cost in the production of urea in the naphtha-based plants seems to have made the Mangalore Chemicals and Fertilizers (MCF) to think about switching over to an LNG-based plant. The company, which is revamping the ... More

ACCOUNTING STANDARDS

SMEs may get regulatory relief on compliance with ICAI standards
SMALL and medium enterprises (SMEs) may get some regulatory relief on compliance with certain complex accounting standards of the Institute of Chartered Accountants of India (ICAI). The Central Council of ICAI plans to grant ... More

OVERSEAS BORROWINGS

Nagarjuna Const global offer
HYDERABAD: The shareholders of Nagarjuna Construction Company Ltd at the extraordinary general meeting held on Monday has approved the proposal of the company to raise funds to the tune of $120 million by way of issue of global depository ... More

AWARDS & HONOURS

Suven Life bags Frost & Sullivan's pharma award
SUVEN Life Sciences Ltd (SLSL) has announced that it was awarded `2005 - Partner of Choice in Drug Discovery for CNS' by Frost and Sullivan at the Pharma Alliance 2005 Awards Banquet held in Mumbai on October 1. In a press release here, the ... More

Schwing Stetter India gets award for promoting Indo-German ties
NEW DELHI: Schwing Stetter India Private Ltd, a wholly owned subsidiary of euro 600-million Schwing Stetter Gmbh, Germany, has bagged the award for outstanding contribution towards the promotion of Indo-German economic relations. It has ... More

INSIGHT

Undue fear of China Inc?
When Chinese companies CNOOC and Haier tried to buy Unocal and Maytag, respectively, critics saw the sinister hand of the Chinese state. Paul Mooney writes that Chinese corporations are prodded to expand overseas by economic necessity, not sim ply the ambitions of the state. As the demands of China's booming economy grow, the country's corporations have no alternative but to venture beyond Chinese borders in search of resources, technology, and profit. More

Management by impressions
IT IS but natural that most managers — like anybody else — have their strengths and weaknesses. One such weakness of quite a large number of managers in Indian organisations is with respect to their management of subordinates. More ... More

MERGERS & ACQUISITIONS

Anil Nanda wants Govt to probe Escorts institute sale
THE Ministry of Company Affairs is now set to examine the issue surrounding the sale of Escorts Heart Institute and Research Centre (EHIRC). Mr Anil Nanda, Goetze India CMD, and younger brother of Mr Rajan Nanda, Escorts Ltd Chairman, has ... More

`Electrolux, Videocon merger by next year'

Targeting turnover of Rs 400 crore till December.

Considering integration of its plants in Maharashtra.

Planning to re-launch Kelvinator brand. More

Havell's India to buy Greek co
NEW DELHI: Electrical equipment maker Havell's India on Tuesday announced its plans to acquire a Greek company for about 10 million euros. "In the last three quarters we have been exploring various options to create a strong Havell's ... More

CORPORATE GOVERNANCE

Independent directors issue — Company Affairs Ministry seeks early solution
THE Ministry of Company Affairs has approached the Department of Economic Affairs (DEA) in the Finance Ministry for an early solution on the issue of board composition for listed entities, particularly the public sector undertakings ... More

NEW PROJECTS

BHEL commissions 2nd unit at NTPC's Rihand station
BHARAT Heavy Electricals Ltd (BHEL) on Tuesday said it had commissioned the second 500-MW unit at NTPC Ltd's Rihand super thermal power station in Uttar Pradesh. The commissioning of the unit takes the total capacity of the Rihand plant to ... More

ALLIANCES & JOINT VENTURES

DCI to form separate ventures with two foreign majors
IF you cannot beat them, join them. This seems to be the new business lexicon adopted by State-owned Dredging Corporation of India vis-à-vis the foreign dredging majors that are threatening its monopoly over the domestic dredging ... More

Orchid ties up with Mayne Pharma
THE Chennai-based Orchid Chemicals & Pharmaceuticals Ltd has tied up with Mayne Pharma to market a selected range of Orchid's life-saving injectable antibiotic formulations in specific markets. According to a press release from Orchid, the ... More

Aurigene ties up with Danish co
AURIGENE Discovery Technologies Ltd, a wholly owned independent subsidiary of Dr Reddy's Laboratories Ltd, has announced an agreement with the Danish biopharmaceutical major Rheoscience A/S wherein it would provide high-end discovery ... More

Mahindra Finance ties up with HPCL

Mahindra to get access to HPCL's rural distribution network.

Benefits to HPCL include credit being extended to its customers. More

DIVERSIFICATION

NuCent Finance to exit from finance biz; to change name
AS part of its restructuring exercise, NuCent Finance Ltd, a member company of the Pressman Group, has exited from the financial services business. The company has informed the Reserve Bank of India of the decision and now intends to diversify ... More

OUTLOOK

Blaupunkt targets Rs 50-cr turnover
BLAUPUNKT, a German car entertainment solutions provider and part of Bosch Group, on Tuesday set up its sixth exclusive distributorship store in the country in Gurgaon, Haryana. The company's brand shop is being set up as an extension of the ... More

Berger eyes premium decorative paints market with `Lewis Berger'
The market share is expected to go up by 0.5 to 1 per cent from the present 12-13 per cent following the introduction of Lewis Berger. More

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