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Wednesday, May 11, 2005
Oil companies' losses mount since April
Under-recoveries would affect oil companies' performance
CAG pulls up Indian Oil Corporation
NEW DELHI: The Comptroller and Auditor General (CAG) has taken Indian Oil Corporation (IOC) to task for making over Rs. 145 crores of infructuous investments in branching and capacity augmentation of pipelines in the northern region. This ...
SEBI reverses stand on SAT hearings
Members' absence only temporary, says presiding officer
IDBI to collect VAT, other taxes
NEW DELHI: IDBI, having taken IDBI Bank into its fold, will now be in the business of collecting taxes from assesses in Delhi and other States. Apart from collecting the Value-Added Tax (VAT), which is now operational in 21 States, IDBI has ...
Malladi Drugs acquires U.S. firm
Funded by private equity investors
Jubilant Organosys to issue FCCBs
NEW DELHI: Jubilant Organosys on Tuesday announced a Foreign Currency Convertible Bond issue of $75 million (Rs. 325 crores) to be listed on the Singapore Stock Exchange, for funding acquisitions and expansion plans. The unsecured and zero ...
Sanjiv Goenka joins Eveready board
KOLKATA: The RPG group Vice-Chairman, Sanjiv Goenka, has joined the board of Eveready Industries India Ltd (EIIL) effective April 28 as a non-executive independent director. The strength of the board of the demerged EIIL, now stands at 11 ...
New Chief Executive for LIC Housing
NEW DELHI: S. K. Mitter has been appointed Chief Executive of LIC Housing Finance. Prior to this, he was Regional Manager (Marketing) at LIC Zonal Office in ...
Sharma appointed SJVNL director
NEW DELHI: Madhu Sudan Sharma has been appointed Director (Finance) of the public sector Satluj Jal Vidyut Nigam Limited (SJVNL). Mr. Sharma took charge of his new assignment on May ...
Marginal rise in Ashok Leyland's April sales
CHENNAI: Ashok Leyland has reported total vehicle sales at 3,422 units in April 2005 against 3,333 in the same month in the previous year. Domestic MDV passenger (medium duty vehicles) sales were up 11.8 percent at 568 vehicles against 508 ...
Mercator allots shares to employees
MUMBAI: Mercator Lines Ltd., a leading shipping company, has launched and implemented an Employee Stock Purchase Scheme (ESPS) whereby shares have been allotted to employees at face value of Re. 1 per share. Under the scheme, a total of 2.97 ...
Bajaj Allianz's gross written premium up
MUMBAI: Bajaj Allianz Life Insurance Company has reported a sharp increase in gross written premium (GWP) for the fiscal ended March 31, 2005 at Rs. 1,001 crores against Rs. 219 crores in the previous fiscal. The first year premium for the ...
Ishi's Jewellery expands
CHENNAI: Ishi's Jewellery, a division of the Mumbai based Suashish Diamonds, a listed company, had expanded its operations with a network of 70 outlets in 25 cities from 28 outlets in ten cities, said Manoj Subramanian, Marketing Manager. The ...
PNB debit cards cross one million-mark
NEW DELHI: Punjab National Bank has crossed the one million mark in the issuance of ATM-cum-debit cards, which can be used at through its 555 counters besides 2,778 ATMs of seven other banks under MITR consortium. Further customers of PNB, the ...
Alstom to pay 17.5 p.c. dividend
CHENNAI: Alstom has reported a 40 per cent increase in its sales while the operating profit multiplied by 2.7 times to Rs. 48.91 crores in the year ended March 31, 2005 from Rs. 17.90 crores in the previous year. The order input for the year was ...
HPCL to market FABER products
CHENNAI: Hindustan Petroleum Corporation Ltd. (HPCL) has entered into a channel partnership with FABER Heatkraft Industries. Under this pact, the products of FABER will be marketed through HP gas distributors in Chennai, says a release from HPCL. ...
Zylog in pact with Singapore firm
CHENNAI: Zylog Systems, an IT services and products company, has signed a memorandum of understanding with Singapore-based BCS Information Systems Private Ltd. to market, implement and integrate front-end cheque truncation system for commercial ...
Wipro to allot shares under ESOS
BANGALORE: Wipro will issue 26,985 equity shares of Rs. 2 each to eligible employees under the Employee Stock Option scheme. The Administrative Committee of the board of directors of the company has resolved to issue and allot 8,400 equity ...
Opto Circuit EGM clears GDR issue
BANGALORE: An extraordinary general meeting (EGM) of Opto Circuits (India) here on Tuesday approved the company's proposal to float a global depository receipt (GDR) issue and/or any another instrument aggregating $20 million with a greenshoe ...
Study on semiconductor industry
BANGALORE: The India Semiconductor Association (ISA) on Monday announced the selection of Frost and Sullivan, a consulting major, to conduct a study on the Indian semiconductor industries titled `Indian Semiconductor Market: consumption ...
Tanishq's third showroom
BANGALORE: Tanishq on Monday unveiled its third showroom in the city at Sampige Road, Malleshwaram. According to Bhaskar Bhat, Managing Director, Titan Industries, the store will present the Bangaloreans a wide range of plain gold, diamond and ...
Natco ties up with Temple University
HYDERABAD: Natco Pharma announced a tie-up with Temple University (of the Commonwealth System of Higher Education), Philadelphia, U.S. According to a release issued here on Tuesday, the tie-up facilitates undertaking of specified biological ...
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