Financial Daily from THE HINDU group of publications
Saturday, December 29, 2001
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CORPORATE

ACCOUNTANCY


Panel on accounting standards to meet in Mumbai
THE 12-member National Advisory Committee on Accounting Standards (NACAS) is to meet in Mumbai on January 5 under the Chairmanship of Mr Y.H. Malegam, Chartered Accountant, according to a member of the committee. This would be the second ... More

SCIENCE & TECHNOLOGY


Will hydrogen be the future energy source?
THE Murugappa Chettiar Research Centre (MCRC) of Chennai, after a decade-long study of photolytic bacteria, has developed the process for production of hydrogen sustainably from spent distillery wash, sago waste and whey in the laboratory, ... More

IPR


A popular herb attracts no patents
A HERB, widely used in indigenous systems of medicine and a focus of research of Indian scientists for nearly half a century - Prickly-chaff flower - has surprisingly not attracted attention for patent protection. In contrast, nearly a ... More

RESTRUCTURING


Sierra Optima plans to trim share capital
SIERRA Optima Ltd. has decided to restructure and reduce the share capital of the company and return money to shareholders, subject to necessary clearances and confirmation by court. The Hyderabad-based Sierra Optima, at its board meeting held ... More


MUMBAI: Siemens Ltd has divested its entire stake in Siemens Public Communication Networks Ltd (SPCNL) through an open offer from SPCNL. Siemens divested its stake aggregating 31,25,000 equity shares of Rs 10 each for Rs 67 per share ... More

MERGERS & ACQUISITIONS



Infotech Enterprises : Uptrend over ? THE Infotech Enterprises stock which has been on a roll with a gain of over 100 per cent in the last 15 trading sessions, may well find ... More


THE possibility of Sterlite Industries announcing a buyback plan may not lead to any significant improvement in the stock price. The company's board is to meet on December 28 to consider buyback of shares. The ... More

Sterlite to extinguish shares after buyback
STERLITE Industries (India) Ltd has announced plans to purchase its equity shares under Section 391-394 of the Companies Act and subsequently cancel them as mandated by the Act. The company said it plans to purchase its equity shares ... More

Modicorp keen on VSNL stake
MODICORP on Friday said it had approached the Department of Disinvestment evincing interest in buying the Government stake in Videsh Sanchar Nigam Ltd. ``ModiCorp's interest in VSNL comes in the light of recent significant changes in the ... More

Our Bureau
MUMBAI: Thermax Ltd has informed the Bombay Stock Exchange that subsequent to an agreement between the joint venture partners, namely the company and Culligan International Co, US (Culligan), the company has acquired the 50 per cent equity ... More

HC clearance for Aptech demerger
APTECH Ltd has said it has received clearance from the Mumbai High Court for its composite restructuring scheme to demerge its training and education business. The board of directors of the company will shortly meet to fix the record date for ... More

Max India acquires 85 pc stake in healthcare services company
MAX India Ltd (MIL) today announced that it has acquired an 85 per cent stake in MMK Ltd., a company which will provide consultancy, specialised medical and non-medical services as well as equipment to the healthcare sector. MMK Ltd is expected ... More

President okays Companies Bill
THE President has given his assent to the Companies (Third Amendment) Bill, 2001. With this, the Bill has been notified in the Gazette of India as Act No. 57 of 2001. The Companies (Amendment) Act, 2001, seeks to replace the Companies ... More

Hatsun Agro merger with Ajith cleared
THE Madras High Court has approved the merger proposal of Hatsun Agro Product Ltd and its subsidiary Ajith Dairy Industries Ltd, according to information provided by Hatsun to the stock exchanges. It may be recalled that Hatsun Agro Product ... More

CORPORATE GOVERNANCE


`Corporate governance must go beyond shareholders'
CAN there be a convergence of corporate and public governance? This question reflects the core of a discussion that is being masterminded by Dr Madhav Mehra, President of World Council for Corporate Governance, on a national scale. Kolkata, on ... More

NEW PROJECTS


PRODUCTION OF SUPER FLAT PICTURE TUBES
Samtel's new venture unit to go on stream soon
COLOUR picture tube manufacturer Samtel Color Ltd will start manufacturing super flat colour picture tubes from a green field site near Delhi starting January end, company sources said on Friday. The new factory, adjacent to the existing ... More

REGULATORY BODIES & RULINGS


Advertise for change at Khaitan Paper, IDBI told
THE Board for Industrial & Financial Reconstruction (BIFR) has directed the Industrial Development Bank of India (IDBI) to advertise for change of guard for Khaitan Paper Machines Ltd. IDBI, the operating agency (OA), had submitted the ... More

ALLIANCES & JOINT VENTURES


TVS Motor seeks early end to licence pact with Suzuki
TVS Motor Co Ltd (previously TVS-Suzuki Ltd) has sought an early end to its licence agreement with Suzuki Motor Corporation, Japan. In a communication sent to the stock exchanges today, TVS Motor Co said that the amended licence agreement ... More

XLRI courses via Hughes network
KOLKATA: Xavier Labour Relations Institute (XLRI) is going in for satellite-based management programmes in association with Hughes Escorts Communications Ltd (HECL). The Jamshedpur-based B-School will offer management development ... More

Strand in talks with Syrix
BANGALORE: Bioinformatics start-up, Strand Genomics, is working out a licensing arrangement with the US major, Syrix, for its new Sphatika software. Sphatika enables drug discovery companies to do high throughput protein ... More


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Top Stories
>Max India acquires 85 pc stake in healthcare services company
>Max India acquires 85 pc stake in healthcare services company
>Excise collections up; customs front bleak
>BSNL slashes STD tariff
>UTI repurchase price offer up to 5,000 units -- US-64 to fully comply with SEBI norms
>Banks may revise rate structure
>UTI repurchase price offer up to 5,000 units -- US-64 to fully comply with SEBI norms
>BSNL slashes STD tariff
>A watershed year for beer industry


In Depth Stories
>Inside Kashmir
>Guide to derivatives
>Bharti's new empire


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