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AV Birla in
talks for bank tie-up
Mumbai:The
Aditya Vikram Birla group is in talks with two to three new generation
private sector banks to enter into a strategic alliance with one
of them.
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HLL
can up FII stake to 49%
Mumbai:
With government allowing 100-per cent FDI in tea, HLLs proposal
to raise FII stake from 24 per cent to 49 per cent may finally go
through.
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Real
estate: Firms buying less, leasing more
Mumbai: The
continuing economic downturn has knocked the bottom off the
commercial property market. Corporates have as a rule abandoned
purchasing property in preference to lease deals.
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Secretaries
to take discuss ITDC hotels selloff today
New Delhi: The
core group of secretaries on disinvestment would discuss today new
buyers for six ITDC hotels, work out details on the timing of the
three stage divestment of Nalco, as also appointment of co-book
runner for public offer for Maruti Udyog Ltd.
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Prakj
Industries expands R&D centre
Mumbai: Prakj Industries Ltd has expanded its research and
development, renaming it Matrix The Innovation Centre.
The centre would work with grass root-level development programmes
and convert them into viable technological solutions.
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Usha
Martin may sell Bangalore property
Bangalore: The Usha Martin group plans to sell its 20-acre
land near Whitefield, Bangalore, to part-fund its new proposed
steel plant, real estate sources said. The company is also likely
to sell its rolling mill near Agra to supplement its fund inflow.
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Trigyn
to liquidate UK unit
Mumbai:
Trigyn Technologies Ltd, UK, has been put into voluntary
liquidation to eliminate operational losses and in view of
profitability and cash flow issues, a statement from Trigyn
Technologies Ltd said.
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PSU
fertiliser firms in the red, co-ops fare better
New Delhi: Fiscal
2002 was another loss-filled one for PSU fertiliser companies.
However, fertiliser co-operatives continued to post handsome
profits, even if slightly diminished from 2000-01.
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Bharti
towers: HC restrains civic body
Kolkata: Justice
Bhaskar Bhattacharya of the Calcutta High Court extended the
interim order passed on 24 May 2002 till 28 June 2002, restraining
the Calcutta Municipal Corporation from demolishing the towers
built by Bharti Mobitel Ltd.
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ST
deferrals: Probe at India Cements
Chennai: As part of its investigations into alleged
irregularities in availing of sales tax deferral benefits, the
Tamil Nadu Commercial Taxes Department on Tuesday carried out
enquiries at India Cements Ltd.
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HC
upholds CLB right to reject preliminary objections
Chennai: The Madras High Court has held that the Company
Law Board was the final fact-finding authority, and the petitioner
had a right to lead evidence before the board.
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Plans
to update RoC offices
New Delhi: The Department of Company Affairs has planned to
modernise and overhaul the functioning of the Registrar of
Companies offices. In this connection, it has undertaken
computerisation of these offices.
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Sale
of SAIL stockyard put on backburner
Kochi: The sale of the SAIL stockyard at nearby
Tripunithura is understood to have been shelved for the time being
under pressure from the trade unions and the State Government.
SAIL had advertised to sell the land and the infrastructure some
time back.
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ICICI
grants debt revamp package to Alufluoride
Mumbai: Providing
a major relief to Alufluoride Ltd, the Vizag-based aluminium
fluoride manufacturer currently suffering severe cash crunch,
ICICI has sanctioned a sizeable debt-restructuring package.
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Birla
VXL looking for contract manufacturers
Mumbai: Birla
VXL Ltd, belonging to the SK Birla Group, is looking for contract
manufacturers to meet its commitment to Levis, the worlds
largest textile brand.
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Rayon
bets on mix of old and new
Mumbai: The portfolio of Indian Rayon and Industries Ltd in
the future will be a balance between asset-intensive and not so
asset-intensive businesses.
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MIPL
hires Ascenda for selling industrial park
New Delhi: Mahindra
Industrial Park Ltd has roped in Singapore-based Ascenda, a
leading consultancy organisation, for selling the Rs 230-crore
industrial park coming up in the outskirts of Chennai
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L&T
Ramboll feasibility report for EPL
Chennai: Ennore
Port Ltd, the first corporatised and landlord port in India, is
looking for private investors to develop specific facilities for
them.
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Morepen
sees wider market for Loratidine post-OTC
Mumbai: Morepen
Laboratories is banking on the anti-histamine loratidine going OTC
in the US market, following the recommendations of the
non-prescription Drugs Advisory Committee of US FDA supporting
over-the-counter treatment for loratadine in chronic idiopathic
urticaria or chronic hives of unknown cause.
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Indian
Oil, BPCL to invest Rs 105 crore in Karnataka
New Delhi: Oil PSU majors Indian Oil Corporation and Bharat
Petroleum Corporation Ltd will invest Rs 105 crore in Karnataka
separately to set up LPG bottling plants and POL depots.
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JK
tyre eyes strategic outsourcing to up exports
New Delhi: In
order to increase the export volumes and become an undisputed
leader in India, JK Tyre the flagship company of the JK
Industries is looking at inorganic growth by way of
acquisition or strategic outsourcing.
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