THE INDEX / Necessary move
SEBI’s decision to dispense with circuit-breakers on all scrips in the rolling settlement, among a plethora of important decisions taken by it on the fateful Monday to discipline the stock markets, is a crucial one.

Otis Consortium open offer for Otis India at Rs 280 per share
OTIS Consortium has made an open offer to the shareholders of Otis Elevator Co (India) at Rs 280 per share.

Hind Antibiotics pegs recast on land disposal 
HINDUSTAN Antibiotics Ltd (HAL) is banking heavily on the disposal of surplus land for the financial restructuring of the company. HAL has been a BIFR case since March 1997. Under the rehabilitation plan, 66 acres near its Pimpri Plant have been identified as the major asset that can be disposed off.

...sales inch towards record Rs 205 crore
HINDUSTAN Antibiotics Ltd’s (HAL) turnover is inching towards the peak levels of around Rs 205 crore (this was including the penicillin plant) before it went into the red.

Vikas WSP board allots 1 cr equity shares
THE board of directors of Vikas WSP Ltd has allotted 1 crore equity shares of Re 1 each at a price of Rs 82.5 per share to the promoters/directors/associates of the company. The shares have been allotted against the preferential issue of 1,88,00,440 equity share of Re 1 each at a price of Rs 82.5 per share as approved in the EGM of the company on January 4, 2001.

UB set to relaunch London Pilsner within a month
UNITED Breweries (UB) is all set to relaunch London Pilsner along with a new variant — London No 1 strong — within a month.

Hindustan Motors posts Rs 75 cr net profit in Q4
CK Birla flagship Hindustan Motors has driven out of the rut of red ink with a net profit of Rs 74.88 crore in the last quarter of 2000-2001, against a loss of Rs 4.75 crore in the same quarter of the previous year.

Exide tightens belt, targets 10 per cent cost reduction
IN the face of cheap imports putting pressure on its margins, Exide Industries Ltd (EIL) is all set to tighten its belt and streamline operations targeting a 10 per cent reduction in overall expenses to boost up its sagging bottomline this fiscal.

LEGO to introduce concept toys in India
LURED by the Rs 500-crore Indian toy market, Danish toy manufacturing giant LEGO on Wednesday announced an aggressive marketing strategy, as part of which it will soon introduce its concept toys in this part of the sub-continent.

Other Headlines
Texmaco net rises 49% to Rs 4 cr
Relaxed FDI norms for hotel sector may not spur foreign capital inflow
Sterlite starts salary disbursements at Balco
KBC Junior replaces KBC from top 10 list
‘Private sector may not make a dent in defence sector’
HC stays decree obtained by SP Arya on Incab