The Hindu Business Line : Wednesday, May 21, 2003

Three injured in RSP mishap; probe ordered
THREE employees of Rourkela Steel Plant suffered serious burn injuries when, early on Tuesday, hot metal and slur splashed out of the convertor at the SMS (steel melting shop) II. A high-level enquiry committee comprising three senior non-RSP ... More

RESEARCH & DEVELOPMENT

SAIL plant develops steel for ballistic testing
STEEL Authority of India Ltd's (SAIL) alloy steels plant (ASP) in Durgapur has developed, for the first time, target steel for ballistic testing used in defence sector with stringent specifications. The steel was rolled out at Rourkela and Bokaro ... More

Maruti to be Suzuki's Asian R&D centre
SUZUKI Motor Corporation intends to make Maruti Udyog as a research and development (R&D) centre for its cars for the Asian market excluding Japan, according to the draft prospects filed by Maruti for its forthcoming initial public ... More

ANNOUNCEMENTS

Biocon to start clinical trials for diabetic drug
BIOCON India Ltd, the Bangalore-based pharma-biotech company, is planning to try out application of mycophenolate mofetil popularly known as CellCept, an immunosuppressive drug, to treat diabetic nephropathy, a stage wherein diabetic patients end ... More

NMDC clarifies on iron ore supply to RINL
THE National Minerals Development Corporation (NMDC) has issued a clarification that Rashtriya Ispat Nigam Ltd (RINL), the steel plant here, is being supplied the required quantity of iron ore and that it would be kept up in future too. Mr C. ... More

Reliance hopes to retail petro goods by March next
THE Government expects Reliance's mega gas find in the Krishna-Godavari basin to ultimately yield 45 million standard cubic metres of gas per day (mmscmd) from 2006-07 onwards. "We anticipate that gas production from D6 blocks of Reliance ... More

VLCC plans colour cosmetics foray — Open to strategic partners
THE Indian colour cosmetics market, estimated at about Rs 250 crore, will soon see another entrant. The closely-held, Rs 60-crore health, fitness and beauty chain Curls & Curves (India) Ltd, which is the parent company of Vandana Luthra's Curls ... More

MERGERS & ACQUISITIONS

Suven Pharma arm acquires US co
SUVEN Life Sciences USA LLC, a wholly-owned subsidiary set up recently by the Hyderabad-based Suven Pharmaceuticals Ltd (SPL), has acquired the assets of the New Jersey-based Synthon Chiragenics Corporation, the global leader in ... More

Bayer India to benefit from merger with Bayer CropScience
THE route is circuitous, but chemical giant Bayer AG may manage to hike its stake in its Indian subsidiary, Bayer India, when the latter's proposed merger with Bayer CropScience goes through. Post-merger, the German parent's stake in Bayer India ... More

CORPORATE GOVERNANCE

Corporate audit and governance — govt to follow suggestions of Naresh Chandra panel
ICAI had backed its suggestion by the claim that all Accounting and Auditing Standards are very technical in nature and that only a member of the profession (Chartered Accountant) would be able to appreciate the nuances in audit work. More

OVERSEAS INVESTMENTS

RBI okays direct investment in overseas listed cos
THE Reserve Bank of India (RBI) has now operationalised a slew of big-bang measures that were announced by the Finance Minister, Mr Jaswant Singh, in January this year to bring about further flexibility in capital account transactions and further ... More

OUTLOOK

Hind Lever does a SWOT of itself
IN its 2002 annual report FMCG major Hindustan Lever Ltd (HLL), has taken time off before the mirror to do a SWOT (strengths, weaknesses, opportunities & threats) analysis of itself. The company's weaknesses spotted thereby include increased ... More

High wages, social costs cause for concern: HLL
FMCG major Hindustan Lever Ltd (HLL) has, in its annual report of 2002, said that high wages and social costs continues to be serious cause for concern, adversely impacting the international competitiveness of Indian tea plantations. It pointed ... More

Tata Steel banking on Steelium for revenue growth
TATA Steel is hopeful of selling between 3,50,000 tonnes and 4,00,000 tonnes of its branded cold rolled steel under the Tata Steelium brand in the current fiscal. This would translate into about Rs 700 crore in revenue terms, according to Mr ... More

PEOPLE

E&Y selects B.L.Munjal for its award panel
ERNST & Young, the global professional services firm, said it has selected Mr Brijmohan Lall Munjal, Chairman of two-wheeler major, Hero Honda, to the international panel of judges for the Ernst & Young World Entrepreneur Of The Year awards, to ... More

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