Automobiles
What ails auto components industry?
ASK anyone in the auto components industry how the business is going, you can safely bet on getting to hear a sob story. Business is bad, margins are under pressure, vehicle manufacturers want price cuts all the time - mumble, grumble, moan, groan.
Corporate
GACL may take balance Tata stake in ACC by year-end
GUJARAT Ambuja Cements Ltd (GACL) may pick up the balance three per cent equity stake of the Tatas in ACC by the end of this year.
IBP in revamp mode; seeks Govt nod for capital issue
IBP Company Ltd, the Rs 6,810-crore flagship company of the IBP-Balmer Lawrie group, has embarked on a major restructuring programme involving strategies of its finance, business and human resource management.
Tata Honeywell launches `total security solutions'
TATA Honeywell Ltd has launched its ``total security solutions'' for homes and small establishments. These include sensors, control panels, signaling devices, panic switches and auto-dialers.
BILT fixed deposit, NCD issues upgraded
NEW DELHI: Credit Rating Information Services of India Ltd (Crisil) has upgraded the ratings of the fixed deposit programme as well the non-convertible debenture (NCD) issues of
NRL eyes exports to Bangladesh, Myanmar
THE seventh annual general meeting of Numaligarh Refinery Ltd (NRL), held last week at its registered office here, reviewed the progress of transition of the refinery from its project stage to the operative stage.
DCA initiates action against 93 vanishing cos
THE Department of Company Affairs (DCA) has initiated action against 93 companies, out of the 142 identified vanishing companies whose list has been provided by the Securities and Exchange Board of India (SEBI), under the Companies Act, 1956.
HDFC bond assigned `AAA'
MUMBAI: The Rs 1,500-crore bond programme of the Housing Development Finance Corporation (HDFC), has been assigned a `AAA' rating by the rating agency Crisil.
B. Vijaykumar to enter into diamond mining
B. Vijaykumar & Co, a major diamond exporting firms, is getting into diamond mining operations.
Avon Organics plans biotech project
AVON Organics Ltd (AOL), the Hyderabad-based pharmaceutical company into the manufacture of chemical intermediates, proposes to venture into the area of bio-technology.
UB to dilute stake in National Sorghum
UNITED Breweries (UB) is poised to divest a significant part of its equity holding in South Africa's National Sorghum Breweries (NSB). Mr Vijay Mallya's alcoholic beverage entity had invested $15 million to pick up 30 per cent stake in NSB.
BIFR reserves orders on Recron Synthetics
THE Board for Industrial and Financial Reconstruction (BIFR) has reserved its orders on declaring Recron Synthetics Ltd (RSL), formerly Raymond Synthetics Ltd, as a sick company.
Kotak Mahindra Primus Ltd NCB rated`AA'
The Rs 70-crore non-convertible debenture issue of Kotak Mahindra Primus Ltd (KMPL) has been assigned a `AA' rating by Crisil.
Mutual Funds
Birla MF declares dividend for 2 plans
MUMBAI: Birla Mutual Fund has declared quarterly dividends for two schemes -- Birla Income Plus and Birla Gilt Plus, a press release said here on Monday.
Stocks
NSE withdraws trading in 26 scrips
MUMBAI: The National Stock Exchange (NSE) has withdrawn trading in equity shares of 26 companies under the `permitted to trade' with effect from September 20.
Writ filed on book-building for IPOs
NEW DELHI: The National Association of Small Investors (NASI) has filed a writ petition in the Supreme Court seeking a direction to the Securities and Exchange Board of India (SEBI) to frame rules and regulations in respect of the book-building portion o
f new issues.
Textiles
Mafatlal Ind `unable to pay wage dues'
TWO workers of Mafatlal Industries Ltd have reportedly committed suicide, for being unable to support their families. Mafatlal Industries has not paid its employees wages since June.
