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Corporate Notes

S Ramadurai has been appointed director of the Bombay Stock Exchange and has been elected as the non-executive chairman. Ramadurai, who has recently retired as the CEO and MD of Tata Consultancy Services…

S Ramadurai on BSE board

S Ramadurai has been appointed director of the Bombay Stock Exchange (BSE) and has been elected as the non-executive chairman. Ramadurai, who has recently retired as the CEO and MD of Tata Consultancy Services, will be replacing Jagdish Capoor, who submitted his resignation from the post of chairman, BSE board, citing health reasons. Currently, he is a non-executive vice-chairman of TCS and is on the board of other companies like Tata Industries, Hindustan Unilever and Piramal Healthcare.

Bosch to lift lockout

Bosch has decided to lift its decision to lock-out its Naganathpura plant in Bangalore, after reaching an amicable settlement with the workers. The workers had demanded a pay hike of around Rs 15,000 per month, while the company was willing to offer around 10% of the current average CTC (cost-to-company) of Rs 36,000 per employee.

Eveready hikes battery prices

Eveready Industries India Limited, the second largest manufacturer of carbon zinc batteries in the world, on Friday announced a hike in prices of its complete range of dry cell batteries. The MRP of all types of batteries will go up by 5% to 10% with immediate effect. Deepak Khaitan, vice-chairman and managing director of Eveready Industries, said: ?Over the past 4-5 months there has been a continuous upward climb in prices of zinc, a key raw material for batteries, adversely impacting the manufacturing cost of carbon zinc batteries. The product segment also has to take on a hike in excise duty from 8% to 10% in the Budget. These have left us with very little option but to pass on a part of the increase in costs to the market.?

Crisil upgrades Tata Motors

Crisil has upgraded its ratings on Tata Motors? (TML’s) bank facilities and short-term debt programme to ‘A+/Stable/P1+’ from ‘A/Stable/P1’. Crisil has also assigned its ‘A+/Stable’ rating to the company’s fund-based facilities and ‘P1+’ to the non fund-based facilities, and has reaffirmed its rating on secured, guaranteed, low-coupon, premium redemption debentures, guaranteed by the State Bank of India. The upgrade reflects Crisil?s belief that the improvement witnessed in TML’s Jaguar and Land Rover operations.

Kesoram tyre output

BK Birla group firm Kesoram Industries on Friday said it has started commercial production of truck radial tyres at its Uttarakhand plant from March 10. The commercial production in greenfield project (unit III) to manufacture truck radial tyres in Birla Tyres, has started from March 10, Kesoram Industries said in a filing with the BSE.

Servion in Thailand

Chennai-based Servion Global Solutions has forayed into the Thailand market through a strategic alliance with One to One Contacts that provides customer contact management solution. The partnership will deliver a customised customer interaction management (CIM) solutions to customers across various industry verticals, said a release from Servion.

Srithai to invest $32 m

Melamine products maker Srithai on Friday said it would invest $32 million in India over next five years and set up four facilities in the country. Srithai, the world’s largest melamineware firm, also said it is scouting for local partners to form a joint venture and is targeting a revenue of $60 million (about Rs 275 crore) here by 2015.

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First published on: 13-03-2010 at 22:33 IST
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