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Softbank
Fund to sell Sify stake
New Delhi: Softbank Asia Infrastructure Fund will
be able to sell its 23 per cent stake in Sify (earlier
called Satyam Infoway) through the secondary market on
Nasdaq or to another strategic investor via private placement.
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Tata
Chem to tap marketing synergies with HLCL Brand
Mumbai: Tata Chemicals plans to extend a mutually
complementing ‘marketing fit’ provided by its
Tata Kisan Kendras and Hind Lever Chemicals’ Paras
brand to key regions post-merger of HLCL with it.
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Jumbo
awaits AAIFR nod to invest Rs 20 crore in Dunlop unit
New Delhi: The Jumbo group of companies will infuse
close to Rs 20 crore to kickstart the operations of the
Dunlop India Ltd’s unit in Ambattur near Chennai
once the Appellate Authority for Industrial and Financial
Reconstruction clears the draft rehabilitation scheme
submitted by the management.
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Tests
show Aquafina meeting EU norms
New Delhi: Tests commissioned by Pepsi Foods India
for its bottled water, Aquafina, show the product as meeting
even the European Union norms, regarded as the most stringent
globally, for residual pesticides.
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Aggregate
net of 1,053 cos up 47.7 per cent in 9 months
New Delhi: A study of 1,053 major companies, which
have declared their nine-month results so far, shows that
their aggregate net profit has grown by 47.7 per cent
in April-December 2002.
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Aptech's
Nishar may escape contempt of court charges
Chennai: Banks which have woken up to chase Atul Nishar
following the SSI-Aptech deal, may be in for a surprise
to find out that Mr Nishar has not been a shareholder
in Aptech for a very long time.
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Private
equity funds eye stake in Hughes Soft
Mumbai: A clutch of private equity funds have initiated
talks with Delhi-based networking and telecommunication
software company Hughes Software Services (HSS) to buy
a stake in the company.
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Dainippon
Ink hikes stake in Coates India to 61.4 per cent
New Delhi: Global printing inks leader Dainippon Ink
& Chemical (DIC) Asia Pacific, the Singapore-based
parent of Coates of India (CoI), has hiked its stake in
the Indian subsidiary to 61.4 per cent from 59.4 per cent
by buying shares from the secondary market.
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Padmini
Tech restrained from selling assets
New Delhi: The Company Law Board (CLB) in an interim
injunction has restrained Padmini Technologies Ltd and
its officers from selling or transferring any asset or
properties or creating any third-party interest in the
property of the company.
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It's
a different ball game for Sahara
New Delhi: The Sahara group, now in talks with First
India MF for what seems to be a takeover, looks all set
to enter the arena of mutual funds. The group, with interests
as diverse as aviation and housing, is already a leading
name in the deposits collection business. Mutual funds,
however, could well prove to be a completely different
ball game — even for a player as stocky as Sahara.
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Caraco
Pharma sales likely to go up 56 pc
Mumbai: Sun Pharmaceuticals' US subsidiary, Caraco
Pharmaceutical, seems to be on a comeback trail. The company
recently said that its revenues for the financial year
2003 are expected to jump by 56 per cent to $35 million
from $22.4 million in the earlier year in its sales forecast
for the year 2003.
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Hero
Honda inventory levels come down as sales pick up
New Delhi: Hero Honda has said its inventory levels
at the dealers' end have started coming down as sales
picked up in February and the current excess stock is
only of 3-6 days more than what is normal for the company.
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