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Harrisons Malayalam to pay 20 per cent interim dividend
Harrisons Malayalam Ltd, the Cochin-based tea and rubber plantation company of the RPG group, is trying to acquire tea gardens in north Bengal and Dooars. After a gap of six years, the company will pay an interim dividend of 20 per cent this year.
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FIPB clears acquisition of 40% in Gujarat Glass
The Foreign Investment Promotion Board (FIPB) has cleared the acquisition of 40 per cent equity in Gujarat Glass by Indocean Packaging, India Private Equity Fund and Citicorp Investment Bank for a total consideration of Rs 118 crore. Gujarat Glass is the glass-containers division of pharma-major Nicholas Piramal.
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Datre aims for Rs 500-crore turnover by 2005
Datre Corporation, the newly set up integrated valve manufacturing unit of the Kanoria group, has chalked out plans to become the world's largest such unit by the year 2005. The Datre unit is the only valve-makers in the country equipped with a 9,000 tonne per annum foundry.
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M&M plans petrol option for Armada Grand
Mahindra & Mahindra (M&M) is exploring a petrol option for the Armada Grand, scheduled to make its entry shortly in the local market. Various alternatives are being examined for the engine and a possible candidate could be the 4G63 two litre engine from Mitsubishi Motor Corporation.
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