The Hindu Business Line : Wednesday, July 23, 2003

Falcon Submersibles plans expansion
GUJARAT-BASED Falcon Submersibles Pvt Ltd, which has entered the AP market a couple of months ago, is planning to fan out in the State by appointing more dealers in the coming months as part of its plans to double its turnover to Rs 20 crore in ... More

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OVERSEAS BORROWINGS

IOC raises $75-m long-term loan for PTA project
INDIAN Oil Corporation Ltd has raised a long-term loan of $75 million to finance the para-xylene/purified terephthalic acid (PX/PTA) project coming up at Panipat Refinery. According to a company release, the loan has been arranged at highly ... More

COMPANY LAW

CCEA to clarify transitional provisions in NCLT set-up
The committee felt that the then extant provisions would not have enabled NCLT to address issues of revival and rehabilitation of sick industries meaningfully. More

CORPORATE BONDS

KPFC bonds issue over-subscribed
KERALA Power Finance Corporation (KPFC), a joint venture of the State Government and Kerala State Electricity Board (KSEB), has raised Rs 300 crore through private placement of bonds with an over-subscription of Rs 7.40 crore. The issue, which ... More

RESTRUCTURING

FIs approve debt recast of Essar Oil refinery project
LENDERS to Essar Oil's Vadinar refinery project have finally agreed to restructure the debt, paving the way for re-starting the work on the 12-million tonne refinery, which has been held up over the past four years. The lenders including IDBI, ... More

Essar Shipping to refinance $30-m debt, save on interest
ESSAR Shipping Ltd (ESL) plans to refinance $30 million of its debts tracking low interest regime worldwide and save close to $3 million as interest payouts. Speaking to Business Line, Mr Sanjay Mehta, ESL's Managing Director and Chief ... More

MERGERS & ACQUISITIONS

Suzuki gets nod to acquire 51 pc stake in Indian co
SUZUKI Motor Corporation's plan to acquire 51 per cent stake in the Haryana-based Integra Overseas Private Ltd to manufacture, assemble and service two and three wheelers was among the foreign direct investment (FDI) proposals cleared by the ... More

ALLIANCES & JOINT VENTURES

Geometric ties up with US-based Modern Engg
GEOMETRIC Software Solutions Co Ltd has entered into a partnership with the US-based design and engineering services provider, Modern Engineering Inc, to expand the offerings of both companies and further establish their global presence. A ... More

DIVERSIFICATION

Hero group's `Easy Bill' kicks off
HERO Group's new venture in the services industry, `Easy Bill'— a mass scale retailer-based bill collection network — commenced operations today with the target of reaching out to 10,000 retail shops in 20 cities by 2005. "With the ... More

SICK UNITS

Eicher drops plan to sell Thane unit
EICHER Ltd has shelved plans to sell its gear unit under Eicher Demm and has charted out a turnaround strategy for the division. The company, which operates two gear units, had proposed to sell off its loss-making Thane unit. "There was some ... More

OUTLOOK

L&T's electrical standard product unit eyes 20 pc growth
For the next 18 months, L&T is only looking at Malaysia and the West Asian countries as export destinations for its M-line range. More

Ashok Leyland mulls sale of components
ASHOK Leyland is seriously exploring possibilities of selling components and aggregates to other vehicle manufacturers, both in India and abroad. "We are very sure that this is the way to go forward," a senior official told Business Line ... More

PERFORMANCE

ABB India riding on the back of power reforms
IT was yet another quarter of impressive performance for ABB India. The company's performance has been constantly improving over the past few quarters on the back of faster implementation of the power sector reforms. ABB's turnover increased ... More

NEW PRODUCTS & SERVICES

Aventis launches once-a-day basal insulin
AVENTIS Pharma Ltd today launched a once a-day basal insulin, Lantus for better diabetic management. The drug will be available in 10-milli litre vial for an introductory price of Rs 2,499. Lantus is a peakless insulin that mimics the body's ... More

DHL trade outlook presents global trends
DHL has launched a monthly India Trade Outlook, which will be compiled by Dun & Bradstreet. The outlook will offer a capsule of key developments in the trade arena, capture recent trends, present the future outlook, and give an idea about the ... More