Cement
Last opportunity to Coromandal Cements
THE Board for Industrial and Financial Reconstruction (BIFR) has decided to give a last opportunity to the promoters of Coromandal Cements Ltd (CCL) for rehabilitating the company.
Corporate
TNPL plans retiring debt
CAPITALISING on increased revenues following the uptrend in prices of newsprint, and printing and writing paper, Tamil Nadu Newsprint and Papers Ltd (TNPL) plans to prepay or retire debts of about Rs. 60 crores during the current year, according to offic
ial sources.
Nicco to get TDB aid for local cable tech
Government's Science and Technology Department has approved a Rs. 40-crore soft loan for Nicco Corporation for setting up facilities for a range of electrical cables with indigenous technology.
Mysore Lamp wind-up confirmed by BIFR
THE Board for Industrial and Financial Reconstruction (BIFR) has confirmed its prima facie opinion of winding up Mysore Lamp Works Ltd (MLWL) under Section 20(1) of the Sick Industrial Companies (Special Provisions) Act (SICA).
Piaggio Greaves plans range of 3-wheelers launch next year
PIAGGIO Greaves Vehicles Ltd (PGVL), the 51:49 equity joint venture between Piaggio of Italy and the Pune-based Greaves Ltd, is planning to launch its range of higher capacity cargo three-wheelers by mid-2001. These new vehicles are also expected to feat
ure a range of petrol and diesel engines from the Piaggio stable.
NPIL to file patent for `Aablaquin' in foreign countries
NICHOLAS Piramal India Ltd (NPIL) is to file patent for its malarial molecule, `Aablaquin' in Brazil, Korea, Thailand and Tanzania.
Zee Interactive to launch 24-hour learning channel
ZEE Interactive Learning Systems Ltd (ZILS), a subsidiary of Zee Telefilms, is set to launch the country's first 24-hour learning channel - Zed-TV - later this month along with zeelearn.com, an education portal and Zee Livewire, its virtual classroom.
Indfrag Biosciences plans expansion
INDFRAG Biosciences Ltd, a Bangalore-based botanical extract company is planning a Rs. 30-crore expansion.
Gramophone renaming part of repositioning move
RPG Enterprises has decided to change the name of Gramophone Company India Ltd (GCIL) to Saregama India Ltd (SIL) as part of a repositioning exercise.
Shareholders vote on McDowell merger issue
MCDOWELL and Company Ltd's shareholders voted on the issue of amalgamation of the company with McDowell Spirits Ltd at the Court-ordered Extraordinary General Meeting held here today. The voting results will be known tomorrow.
Maharashtra to press BSES payment: Tata
MR. Ratan Tata, Chairman, Tata Electric Companies, today said that the Maharashtra Government is taking steps to enforce its order asking BSES Ltd to pay up standby charge dues of Rs. 159.5 crores to TEC.
Insurance
IMPAL to take stake in SFL insurance venture
CHENNAI: India Motor Parts and Accessories Ltd (IMPAL), a TVS group company, will take a stake in the non-life insurance company that Sundaram Finance Ltd of the TVS group, will float with Royal & Sun Alliance Insurance plc of the UK.
Mutual Funds
Dhanavarsha-2 to be redeemed early
LIC Mutual Fund (LICMF) has decided to prematurely redeem its five-year close-end income scheme Dhanavarsha-2 on August 8, instead of May 2001.
Petroleum
IOC exports lubricants to Bangladesh
CALCUTTA: Indian Oil Corporation (IOC) has despatched a consignment of SERVO lubricants to Bangladesh to execute the first export order to the neighbouring country, according to IOC sources. The total value of the order is $51,588.
Pharmaceuticals
Zydus Cadila plant gets S. African nod
MUMBAI: Ahmedabad-based pharma company Zydus Cadila's manufacturing plant at Moraiya has been approved by the Medicines Control Council (MCC), South Africa. The approval is significant for Zydus as the company plans to register its products in South Afri
ca.
Power
Alstom Power bags Hazira order
NEW DELHI: Alstom Power has won a 85-million Euro (Rs. 351 crores approx.) order to build a combined cycle power plant at Hazira, in Gujarat for the Gujarat State Energy Generation Ltd.
Telecommunications
Joint bid for long-distance operations -- SingTel likely to pump in another Rs 1,000 cr
SINGAPORE Telecom (SingTel) is expected to bring an additional investment of around Rs. 1,000 crores to part-fund its joint bid with the Bharti group for national long-distance (NLD) operations and for setting up the proposed high bandwidth submarine cab
le link between Chennai and Singapore.
