Chemicals
Lack of chlorine-based units puts chlor-alkali industry in trouble
LACK of development in chlorine-based industries has driven the chlor-alkali units in the country with huge production capacity into serious problems.
Corporate
Hindalco to focus on value addition
HINDALCO Industries Ltd has chosen a three-pronged strategy to continue its value growth: focus on remaining a low-cost producer, increase value addition and pursue emerging growth opportunities.
L. Sabaretnam joins India Cements
CHENNAI: After resigning as the Executive Director of Chettinad Cement Corporation Ltd, Mr. L. Sabaretnam has joined India Cements Ltd (ICL) as an advisor.
IDBI to draft scheme for Hind Antibiotics revival
THE Industrial Development Bank of India (IDBI) has been directed by the Board for Industrial and Financial Reconstruction (BIFR) to formulate a rehabilitation scheme for Hindustan Antibiotics Ltd (HAL) based on the company's proposal with means of finan
ce fully tied-up. The Bench will then formulate and circulate a draft rehabilitation scheme (DRS) without holding any further hearing, the order said.
Bhoruka Steels shifts focus to refractory materials
BHORUKA Steels, part of the TCI-Bhoruka group, which is awaiting BIFR nod (expected by end-July) for its revival, plans to close its 1,00,000 tonnes per annum (tpa) electric arc furnace and exit the business. The decision stems from the dampening steel s
ector scenario, with the industry witnessing a stagnant demand situation.
CLB Chennai addl Principal Bench may start by July 24
THE Department of Company Affairs (DCA) is making all efforts to operationalise the proposed additional Principal Bench of the Company Law Board (CLB) in Chennai before July 24.
Aksh Optifibre issue oversubscribed 8 times
THE book-built portion of Aksh Optifibre Ltd, which closed on July 4, has been oversubscribed eight times. The issue price was Rs. 60 per share, 20 per cent more than the floor price of Rs. 50.
3 Atlas Copco shares for 5 Chicago Pneumatic
THE Board of Directors of Chicago Pneumatic Ltd today approved a share exchange ratio of three equity shares of Rs. 10 each of Atlas Copco (India) Ltd for every five equity shares of Chicago Pneumatic for the proposed merger of the two companies.
Miscellaneous
CA results today
NEW DELHI: The results of the Final and Foundation examinations of the Institute of Chartered Accountants of India (ICAI) held in May this year are likely to be declared on July 14, according to a statement issued by the ICAI here. -- Our Bureau
Tele Data Info plans IPO for expansion
HYDERABAD: The Chennai-based Tele Data Informatics Ltd, engaged in development and marketing of ship-related and education software, is set to tap the market to fund its growth plans with an initial public offer of 25,00,000 equity shares of Rs. 10 each
for cash at a premium of Rs. 15 per share aggregating Rs. 6.25 crores.
PSU
Move to privatise BBUNL subsidiaries resented
THE Federation of Officers' and Supervisors' Associations of Bharat Bharai Udyog Nigam Ltd (BBUNL) is sore at the Union Government's move to privatise the subsidiaries of Bharat Bhari Udyog Nigam Ltd.
Steel
Essar Steel aims at better realisation
ESSAR Steel Ltd (ESL) has set itself the target of enhanced realisation for its steel to the tune of Rs 3,000 per tonne during the current fiscal.
