The Hindu : Business News : Tuesday, April 13, 2004

Online edition of India's National Newspaper
Tuesday, April 13, 2004

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Rane group in share restructuring exercise
CHENNAI, APRIL 12.In a major restructuring exercise, the Rane group has decided to pare cross-holdings of equity shares among its various firms. The move is ostensibly aimed at facilitating greater access to capital for growth ...

CII agenda to achieve 10 p.c. growth
NEW DELHI, APRIL 12. The Confederation of Indian Industry (CII) has outlined a ten-point agenda for the Government aimed at sustaining a 10 per cent growth rate and making India a developed country by 2020. The chamber says the agenda will ...

Industrial output up 6.7 p.c. in 11 months
NEW DELHI, APRIL 12. A 7.4 per cent growth in industrial production during February this year and capital goods output jumping by 24.7 per cent in the same month have contributed towards a 6.7 per cent growth in industrial production during the ...

Other Stories

Rupee ends lower

Sensex drops 55 points on late selling

`Standards have become market entry barriers'

Citigroup offers to buy e-Serve shares

Bharat Electronics net up

Reliance Infocomm to expand services

50 p.c. from Hughes Software

Hero Honda pays 500 p.c. final

Barometer

Bullion rates

Exchange rates

Stock Market Index

Briefly
CMIE estimates 6.3 p.c. growth
MUMBAI, APRIL 12. Aided by abundant agriculture production in 2003-04 and rise in consumer spending, the Centre for Monitoring Indian Economy (CMIE) today pegged the growth of Indian economy at 7.5 per cent for the first quarter of 2004-05 and ...

BoM shares listed
MUMBAI, APRIL 12. The scrip of Bank of Maharashtra (BoM) was today listed on the Bombay Stock Exchange and closed the day at Rs. 38.95, higher by 69.34 per cent than the offer price of Rs. 23, even as issue registrars MCS received complaints from ...

RFL issue oversubscribed
KOLKATA, APRIL 12. Ramakrishna Forgings Limited (RFL) today said it had received an overwhelming response to its Rs. 12.25 crore initial public offering and the issue was oversubscribed. The issue, at a premium of Rs. 10, closed for subscription ...

Notice to Mumbai firm
NEW DELHI, APRIL 12. The Delhi High Court on Monday issued notice to a Mumbai-based pharmaceutical firm for using trade mark deceptively similar to that of pharma major, GlaxoSmithKline Pharmaceuticals, to market their veterinary preparations. ...

AirTel's value added services
COIMBATORE: AirTel has come up with value added services for Tamil New Year. Its subscribers can send multimedia messages in Tamil, according to a release. The customers can log on to http://mms.airtelworld.com/masala/index.htm and ...

Sterling group acquires stake in Barista
MUMBAI: Tata Coffee has informed the Bombay Stock Exchange that the Sterling group has acquired the 65.45 per cent stake held by Turner Morrison group in Barista Coffee Company. Tata Coffee has a stake of 34.31 per cent in Barista Coffee. ...

New loan product from Indian Bank
CHENNAI: Indian Bank has introduced a new loan product `IB-Swarna Abharana' in South India on the occasion of Tamil New Year/Vishu targeting working women and housewives. Under this scheme women can avail themselves of a loan up to Rs. 2 lakhs ...

Murugappa signs MoU with IIT, Madras
CHENNAI: The Murugappa group has recently entered into a memorandum of understanding on joint research work with IIT, Madras. The MoU would lead to the convergence of academic knowledge and industrial experience in different areas of technology. ...

South Indian Bank's interim dividend
MUMBAI: South Indian Bank has informed the Bombay Stock Exchange that the board of directors of the bank has declared an interim dividend of 15 per cent at its meeting held on April 12. Our ...

Sandesh's new division
MUMBAI: Sandesh has informed the Bombay Stock Exchange that the company has opened a new division in the name of The Sandesh Ltd. (import-export division) from April 1, to carry on the bullion business / import-export of various commodities / ...

Suven Life Sciences sets up SAB
HYDERABAD: Suven Life Sciences has set up a scientific advisory board (SAB) for drug discovery research, comprising three well known specialists, Dr. Marlene L. Cohen, Dr. James L. Howard, and Dr. Warren Stern, in the therapeutic area of central ...

Emirates Airline's investment plans
HYDERABAD: Emirates Airline considers India as one of the most profitable destinations. It sees lot of opportunities for promoting tourists to India, says Abdulla Nasser Abdulla Hussain, Vice-President for India and Nepal, who has taken over ...

Southern Online Services renamed
HYDERABAD: Southern Online Services (SOL), a Hyderabad based B category Internet service provider, is changing its name to Southern Online Bio Technologies Limited, subsequent to its acquisition of Southern Biofe Bio Fuels. The latter, promoted ...

BHEL achieves all time high PLF
NEW DELHI: Power generating sets built by the public sector Bharat Heavy Electricals Limited (BHEL) have achieved an all time high plant load factor (PLF) of 74.2 per cent during 2003-04. This is 2.6 per cent higher than the national average. ...

NIC ties up with Nainital Bank
DEHRADUN: National Insurance Company on Monday entered into an agreement with Nainital Bank for distribution of its general insurance products through the bank's branches in Uttaranchal, Haryana and New Delhi. D. K. Burman, Assistant General ...

IOC to launch truck tracking facility
MANGALORE: The Mangalore division of Indian Oil Corporation will launch the truck tracking facility, a value added service to the fleet card already introduced, here on Wednesday. A release from Soman Mathews, senior divisional retail sales ...

Maximise bags Titan account
BANGALORE: Maximize, the media agency major, has been appointed by Titan Industries as its strategic planning agency. This comes close on the heels of it getting the Britannia account. According to Maximize India Managing Director, C. V. L. ...

IBM partners Apara
BANGALORE: IBM India said on Monday that it had partnered Apara Enterprise Solutions to market IBM TotalStorage solutions in India. "IBM India's partnership with Apara will further strengthen its systems integration expertise and countrywide ...

Canbank Factors net up
BANGALORE: Canbank Factors (CFL), a subsidiary of Canara Bank, has reported a net profit of Rs. 11.30 crores for 2003-04, up 30.18 per cent over Rs. 8.68 crores reported during the previous fiscal. It reported a turnover of Rs. 157.90 crores for ...

New bus service
KOZHIKODE: Praveen Travels, Chennai has launched a new daily bus service from Chennai to Mahe via Pondicherry and Calicut from Sunday. The new service will touch the cities and towns of Coimbatore, Palakkad city, Manarkkad, Perinthalmanna, ...