|
Osama
Suzuki to
visit India today
New Delhi: Suzuki
Motor chairman and CEO Osama Suzuki will arrive on a days visit
to India today after taking control of the joint venture carmaker
Maruti Udyog Ltd.
He will leave the next
day after discussions with Maruti officials and addressing a press
conference.
Back to
News Review index page
MUL
is confident to serve corporate clients
New Delhi: Maruti Udyog, which is set to become a
subsidiary of the Japanese car major Suzuki Motor Corporation by
the end May, has made a strong foray into its new business of
lease and fleet management by signing up its first set of
corporate clients.
Back to
News Review index page
Adanis
to venture into salt business
Ahmedabad: After the Tatas and Nirma, the Rs 4,200-crore
Adani group has decided to foray into the industrial salt
business. It is the second diversification of the group in the
last two years.
But unlike the Tatas and
Nirma, about 80 per cent of the Adani groups production will be
earmarked for exports. The group will set up a $10-million salt
unit.
Back to
News Review index page
IOC
likely to go alone in TN pipeline project
New Delhi: IOC is
reportedly evaluating the option of independently implementing the
Rs 520-crore Chennai-Tiruchi-Madurai pipeline project, originally
conceived by Petronet India. This follows the insistence of
Petronet on including a take-or-pay clause in the agreement
with IOC.
The internal thinking in
IOC appears to be against signing any agreement with a take-or-pay
clause as the oil major will then be compelled to either use the
pipeline for a committed quantity or pay up the transportation
costs any way.
Back to
News Review index page
VSNL
to invest Rs 1,200 crore in Tata Tele
Mumbai: The VSNL
board has decided to invest up to Rs 1,200 crore in the share
capital of Tata Teleservices Ltd, the basic telephony services
company of the Tata group. The strategic investment will be in
tune with the companys initiative to reach out to the
end-customers, said VSNL, in which the Tata group will have a
45-per cent post-open offer for an additional 20-per cent stake in
VSNL, following its acquisition of 25 per cent stake from the
government.
But officials in New Delhi said the government has strongly
objected to the boards decision, as it makes a mockery of
the disinvestment process and it does not have the approval of
Communication and Infotech Minister Pramod Mahajan.
Back to
News Review index page
VSNL Q4
net profit down to Rs 316 crore
Mumbai: VSNL has reported a 29.3-per cent decline in its
net profit for the last quarter ended 31 March 2002.
The company has reported a net profit of Rs 316.2 crore as
compared to Rs 447.3 crore for the last quarter ended 31 March
2001.
Back to
News Review index page
IOC to
invest Rs 450 crore into retailing
Mumbai: IOC is
going strong with its marketing plan in the post-APM environment,
and has decided to pump about Rs 450 crore into retailing during
this fiscal. This comes in addition to the oil majors
acquisition of IBP, which brought under its fold over 1,500 retail
outlets. IOC spent over Rs 1,100 crore in acquiring the 33.58-per
cent government stake in the oil-retailing company.
Back to
News Review index page
Tata
Steel upgrades furnace, spends Rs 200 crore
Mumbai: Tata Steel has rebuilt and upgraded its 43-year-old
blast furnace in a shutdown time of 105 days and at a cost of
around Rs 200 crore. The furnace was blown in on May 22.
Back to
News Review index page
Fiat
diesel version models by 2003
Mumbai: Fiat
is planning to launch the diesel model of its cars in India by
2003 and is making efforts to source components for diesel engines
locally, says Fiat India Pvt Ltd CMD M P Bianchi.
Back to
News Review index page
Sardas
to resume buying into BSL
Kolkata: The jute group Sardas will continue to buy into
BSL even after increasing its stake to a little over 12 per cent.
The group is currently talking to merchant bankers to make an open
offer soon.
Back to
News Review index page
Vertebrand
opens shops in Chennai, Hyderabad
Bangalore: The city-based Vertebrand Management Consulting,
a brand management consultancy, is expanding its operations to
Chennai and Hyderabad.
Back to
News Review index page
Carlson
Hotels to open 13 Radissons in India
New Delhi: THE US hospitality major Carlson Hotels
Worldwide will open 13 Radisson hotels and five Country Inn and
Suites in India, the groups senior vice-president
(international development) James W Olson said.
Back to
News Review index page
Keltron
joins hands with CMC
Thiruvananthapuram: Keltron has signed an MoU with CMC for
implementing advanced IT solutions for power systems.
Back to
News Review index page
GE
India foresees 10-12% revenue growth
Mumbai: GE
India expects its revenues to grow by about 10-12 per cent in the
current year, according to president and CEO Scott Bayman. The
companys revenues and orders exceeding $1 billion stayed flat
in 2001 over 2000.
Back to
News Review index page
Daksh
expects a leap in revenue
Mumbai: Daksh eServices Pvt Ltd, which offers web-based
customer care services to global clients, has said it expects to
nearly double its revenue in the current fiscal to $30-35 million
on the back of clients acquisitions.
Back to
News Review index page
Ranbaxy
cuts debt by 50% to Rs 126 crore
Mumbai: Ranbaxy Laboratories has cut its debt by more than
50 per cent to Rs 125.98 crore during the year ended December
2001, which is expected to bring down the annual interest outflow
to less than Rs 30 crore during 2002 from Rs 47.47 crore in 2001.
Back to
News Review index page
Bharat
Biotech to launch streptokinase
Hyderabad: Bharat
Biotech is all set to launch its indigenously developed
recombinant DNA product, streptokinase, in India in the fourth
quarter of 2002.
Back to
News Review index page
GCPL
rolls out Nupur powder henna brand
Mumbai: Godrej Consumer Products is foraying into the
traditional powdered henna market with the launch of Nupur powder
henna brand.
Back to
News Review index page
Indian
lenders wants to sell Daewoo (India)
New Delhi: Indian lenders to the local arm of South Koreas
bankrupt Daewoo Corporation are planning to sell the loss-making
carmaker to recover loans, but analysts say their task could be
difficult in an industry with surplus capacity.
Back to
News Review index page
B&L
to tap vision-care market in Punjab
Mumbai: Having virtually cornered a two-third marketshare
in contact lens business including lens-care solutions, Bausch
& Lomb Eyecare (India) is positioning Punjab as a focus area.
Back to
News Review index page
ITDC
to provide educational courses in hospitality
New Delhi: Even as the government put disinvestment of
hotels in top gear, India Tourism Development Corporation is
diversifying into education.
Back to
News Review index page
SAIL
foresees recovery by 2003
Mumbai: A 134-per cent rise in net loss notwithstanding,
Steel Authority of India is doing a jig on the stock market in
volume terms and expects recovery by December end.
Back to
News Review index page
|
