The Hindu Business Line : Wednesday, March 26, 2003

Tata Tea gets Rs 25.35-cr dividend from UK unit
TATAS' £271-million acquisition of the Tetley Group Ltd, UK, has started paying off with the involved special purpose vehicle (SPV), Tata Tea (GB) Ltd, announcing a maiden interim dividend of more than 40 per cent of Tata Tea Ltd's (TTL) 2001-02 ... More

BHEL executes DVC contract
BHARAT Heavy Electricals Ltd has crossed a milestone regarding the execution of the turnkey contract for the extension of the Mejia Thermal Power Station (MTPS) of Damodar Valley Corporation (DVC). A BHEL statement said it achieved the feat of ... More

COURTS/LEGAL ISSUES

HC stays strike by BPCL workers
THE Madras High Court on Tuesday stayed the strike by the employees of the State-owned Bharat Petroleum Corporation Ltd (BPCL). According to the strike notices served on the BPCL and the Hindustan Petroleum Corporation Ltd (HPCL), the employees ... More

MERGERS & ACQUISITIONS

BASF defers move to acquire Fipronil business
BASF India on Tuesday said that it has deferred the decision to acquire assets pertaining to Fipronil business in India. At a board meeting of the company held on March 24, the item concerning the acquisition of assets pertaining to Fipronil ... More

TRADE & LABOUR UNIONS

Oil PSU workers go on strike
THOUSANDS of workers belonging to HPCL and BPCL on Tuesday held a nationwide strike to oppose the privatisation of the two oil PSUs. The strike was called by 26 trade unions of HPCL and BPCL under the banner of National United Forum Against ... More

ALLIANCES & JOINT VENTURES

South Asian Petro in global marketing tie-up
SOUTH Asian Petrochem — the PET (polyethylene terephthalate) resin plant of the Dhunseri group - has entered into marketing tie-ups with overseas companies for selling 75 per cent of the capacity of its new plant which is slated to be ... More

Morepen Labs signs pact with NIPER
PHARMACEUTICAL company Morepen Laboratories today signed an agreement with the National Institute of Pharmaceutical Education and Research (NIPER) for collaborative research programme on monoclonal antibodies and bio-pharmaceuticals. The ... More

INTERVIEW

`Investment will be mostly through internal accruals' — Mr Sanjay Gupta, Managing Director, GSPC
IT has been a little over a year since Mr Sanjay Gupta, career Indian Administrative Service (IAS) officer with 17 long years of service under his belt, decided to change track midstream and join the rough and tumble of the corporate world. Mr ... More

IPOS

IPO panel move to check fly-by-night operators — Net tangible assets criterion preferred
MOVING away from the profitability criteria, a Securities and Exchange Board of India (SEBI) committee has recommended net tangible assets (NTA) as a key eligibility criterion for companies planning to come out with an initial public offer ... More

OUTLOOK

Sony India to drive growth via exclusive showrooms
WITH a new managing director at its helm, a bigger promotional push, and a focus on its flagship Sony World stores to drive growth in the next financial year, Sony India Ltd has chalked out aggressive plans for India. There are now 33 Sony ... More

STC signs MoU

PERFORMANCE

RPL complains of Rs 250-cr annual loss
RELIANCE Petroleum Ltd (RPL) has written to the Union Government that it is losing around Rs 250 crore annually after entering into a new contract with IOC, HPCL and BPCL last year for the sale of around 12.5 million tonnes of ... More

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