Grasim revised open offer for L&T unaltered
Mumbai: Grasim Industries' open offer price for Larsen & Toubro in its revised draft offer document submitted to SEBI, remains unaltered from its earlier open offer - at Rs 190 per share - which was stalled in November 2002.
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i-flex braces for legal battle
New Delhi: i-flex Solutions, the banking software developer whose employees were arrested in the Netherlands last week over alleged visa irregularities, seems to be heading for a legal battle with the Dutch authorities even as diplomatic level efforts are on to resolve the issue.
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Volvo all set to hike prices of models - Bid to neutralise VAT effect, says Managing Director
Bangalore: With VAT coming into effect from today, truck maker Volvo India Ltd is all set to increase the prices of its models with the Government failing to resolve the issue of sales tax exemption.
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Pfizer defers Q1 results announcement
Mumbai: Pfizer Ltd has deferred the decision to announce its financial performance for the first quarter ended February 28, 2003 due to an appeal filed at the Mumbai High Court by shareholders of Parke-Davis India Ltd against the scheme of amalgamation of Parke Davis and Pfizer.
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Morepen closes GDR issue on Luxembourg
New Delhi: Morepen Laboratories has successfully closed its Global Depository Receipts (GDR) issue on the Luxembourg Stock Exchange, with its GDRs getting ``fully subscribed'', primarily by the European institutional investors.
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Jubilant Organosys take-over of Max biz completed
New Delhi: Jubilant Organosys Ltd has formally taken over active pharmaceuticals ingredients (API) business of Max India from Monday.
The company handed the final payment against the total consideration of Rs. 63.1 crore to close the transaction, Mr Shyam S. Bhartia, Chairman and Managing Director, Jubilant Organosys, said.
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PVR raises Rs 38 cr from ICICI Venture
New Delhi: PVR Ltd has raised Rs 38 crore from ICICI Venture as part of the funding to support its Rs 100-crore expansion plan. Of the balance, Rs 40 crore would be raised through debts and the rest through internal accruals.PVR currently has four cinema complexes in Delhi. It is planning to open a seven-screen multiplex in Gurgoan, 11-screen multiplex in Bangalore and several others in Mumbai.
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Hero Honda hits turnover target
New Delhi: The country's largest two-wheeler maker, Hero Honda, said on Monday that its sales for the fiscal 2002-03 were 16.77 lakh units, a shade lower than the revised target of 17 lakh units for the year. Hero Honda had earlier scaled down its sales target for the year from 18 lakh units, citing poor agricultural output that affected rural incomes and slowed down economic growth. In 2001-02, it had sold 14.25 lakh units.
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