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RCF wants
to bid for HOCL stake
New Delhi: In what
could pose an additional complication for ministry of
disinvestment, Rashtriya Chemicals and Fertilisers (RCF) has
sought permission to acquire a 32.61-per cent stake in Hindustan
Organic Chemicals Ltd (HOCL).
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HPCL
to kick off crude hedging
New Delhi: Hindustan Petroleum Corporation Ltd has decided
to start hedging of crude, as it would help the company save on
the cost of crude procurement.
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Aventis
insulin, osteoporosis drug launch
Mumbai: Aventis
Pharma has lined up a new version of DNA recombinant insulin, Lantus,
to be launched in 2003. It also proposes to launch Actonel
for patients suffering from osteoporosis in 2003.
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Opto
Circuits, HLL tie up for thermometer business
Mumbai: Opto
Circuits India Ltd has entered into an agreement with Hindustan
Lever Ltd to buy the business line of Digital Thermometers of HLL.
The company notified Bombay Stock Exchange of the development.
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Kochi
Refineries appoints French firm for upgradation
Kochi: To
take on the challenges of the liberalised and globalised petroleum
market, Kochi Refineries Ltd is contemplating further quality
upgradation and modernisation of its refining process. "We
have appointed Axens, the French petroleum major, for the pla
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Dr
Reddy to step on R&D gas
Hyderabad: Pharma major Dr Reddys Laboratories has
decided to increase its annual spend on research and development
(R&D) to 8 per cent of its turnover from 6 per cent last year.
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Johnson
Wax to market HLL's cleaning products
Mumbai: As a fallout of the global acquisition of
Unilever's DiverseyLever business by SC Johnson Commercial Markets
(CMI) Inc, the Hindustan Lever Ltds cleaning products handled
by the Daman-based DiverseyLever Division will now be marketed in
India.
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SAIL
hikes prices again
Mumbai: Steel Authority of India Ltd has announced another
round of increase in the prices of both flats and long products,
making it the third hike in the current fiscal year. The prices
are effective June 1.
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Voltas
International bags Abu Dhabi contract
Mumbai: Voltas International of India has bagged a
$54-million contract from the Abu Dhabi government to build a
central cooling plant and infrastructure for the Conference Palace
Hotel, being built to host the Gulf Cooperation Council (GCC)
meeting.
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Godrej
Foods EGM to seek nod for buyback
Mumbai: Godrej Foods Ltd has convened an extraordinary
general meeting of its shareholders on July 2 at Bhopal to seek
their approval for the proposed scheme of purchase of shares.
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GE
gets nod to take 100% stake in Bently
New Delhi: The Foreign Investment Promotion Board has
permitted the US-based General Electric International Operations
Co Inc to buy out 100 per cent stake in Bently Nevada (Sales &
Services) Ltd (BNSSL), through the Mauritius route.
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Xechem
International to set up Chennai facility
Chennai: Xechem International Inc, a New Brunswick, New
Jersey-based company engaged in the manufacture of anti-cancer
compounds and drugs using medicinal plants and trees, plans to set
up a facility at Siruseri, on the southern outskirts of Chennai.
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Tata
Engg hopes to double passenger car revenues
Mumbai: Tata Engineering, which reported a net sales/income
from operations of Rs 8,894.80 crore in 2001-2002, with an income
ratio of 55:45 between its commercial vehicle and car operations
(65:35 in 2000-2001), seeks to double its passenger car revenues.
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Aventis
Pharma hopes on higher turnover growth
Mumbai: Aventis
Pharma is expecting a double-digit growth rate in turnover in the
current financial year 2002. At an analyst meet here, Ramesh
Subramaniam, managing director, Aventis Pharma, said the company
is expected to grow far.
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Tyre
stocks gain speed on Tata Engg revival
Mumbai: The share prices of tyre stocks flared up on
Thursday on a typically feel-good factor on the back of good
results announced by auto major Tata Engineering and Locomotive
(Tata Engg).
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Silverline
rises on order talk
Mumbai: Software
major Silverline Technologies gained on Thursday on market talk
that the company is expecting an order worth around $40 million
(around Rs 200 crore). However, the timeframe for the order was
not known, market sources said.
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Wimco
excels on the bourses
Mumbai: The share price of Wimco has been rising in the
last few weeks. The price has increased from Rs 9 on April 30 to
Rs 30 on the BSE today, a rise of 233 per cent in just over a
month time.
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Central
Bank net up at Rs 163.3 crore
Mumbai: Central
Bank of India has recorded a net profit of Rs 163.30 crore for
2001-02, a 251 per cent rise over the previous year's net of Rs
46.46 crore. The operating profit during the year has risen by
49.71 per cent.
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