Tata
Group Companies bag export award
New Delhi:
Tata Iron and Steel and Tata Projects have bagged the top export
and highest export awards for the year 1999-2000 announced by the
Engineering Export Promotion Council.
Tisco has bagged the all India trophy for top exporters in the
large scale manufacturing sector. Others who bagged the trophy in
this section include Enfield Industries, Nalco, Bhel and Jyoti
Structures.
Tata Projects has bagged the all India trophy for highest
exporters for turnkey industrial projects. The others to get the
trophy in this category include Tata Engineering and Locomotive,
Kvaerner Powergas, Karnal Agriculture and United Metal Industries
Manufacturing.
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Sibar
Media to foray into films
New Delhi:
TV serial producer Sibar Media and Entertainment will foray into
film production with two regional films to be released soon.
The company is also planning startegic alliance with some other TV
channels for supplying software for production and would introduce
interactive software-based programmes of 21 channels in its
network at a cost of Rs 60 crore.
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Telco
plans to divest Rs 400 crore
Pune:
Tata Engineering plans to sell Rs 400-crore non-core financial
investments and save costs by rs 225 crore this fiscal.
The company is also in the process of restructuring its expensive
debt portfolio of Rs 500 crore, of which it has already pre-paid
Rs 193 crore during April-September 2001-02.
The company has targeted to cut the balance sheet size by Rs 1,000
crore over the next three years after reducing it by Rs 953 crore
during 1998-99 to 2000-01.
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McDowell
plans to market imported wine
Mumbai:
McDowell & Company Ltd is in talks with global wine majors for
importing wine in bulk. McDowell plans to bottle and market the
wine in India. The company has initiated talks with Concha Y Toro,
the largest producer of wine in Chile and Australia-based
Sandalford. The company is also in talks with a French company and
a South African wine major.
McDowell & Co Ltd has
a presence in the wine market through its alliance with the
Italian wine maker Bosca. Bosca is manufactured at Baramati Grape
Industries Ltd and sells over 15,000 cases per annum.
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Himalaya
Drug launches herbal Viagra
Bangalore:
Himalaya Drug company has launched two products which claims to
offer a safe alternative to allopathic medication for erectile
dysfunction.
The company has
introduced two new products Tentex Royal capsules and Himcolin
Gel (a local application medicinal gel) which claim to be quick
acting herbal medicines for improving sexual performance of
males. While the capsules are priced at Rs 7.50 per unit, the
local application gel is approximately priced at Rs 75.
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Daewoo
plans LPG Matiz
Kolkata:
Daewoo Motors India Ltd (DMIL) has undertaken R&D work to
introduce LPG version of Matiz. The company has already completed
R&D activity for development of Matiz-LPG variant with the
Italian kit to provide alternate fuel option to customer.
It had also undertaken development of Matiz CNG during the past
year and is continuously working on value engineering and
increased localisation to improve cost effectiveness.
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SAIL
to get Rs 1,000cr from assets sale
New Delhi:
The Steel Authority of India expects to earn around Rs 1,000 crore
in cash in the current financial year from sale of non-core
assets.
The current years expected cash earnings will come from sale
and transfer of assets which will include power plants at Bokaro
and Bhilai and real estates in the form of houses and flats at
SAILs townships in Durgapur, Bokaro, Rourkela and Bhilai.
Transfer of assets at Bokaros 302-mw power plants into a joint
venture with Damodar Valley Corporation is in the final stages,
awaiting clearance from the Central Electricity Authority.
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L&T,
Grasim plan cross-branding
Mumbai:
Grasim Industries and Larsen & Toubro are working towards
cross-branding of cement to drastically cut down on freight costs.
The cross-branding
exercise would enable L&T and Grasim to roll out their cement
brands from the others manufacturing facility. Cross-branding
is one of the options that the Aditya Birla group flagship is
seriously exploring to exploit synergies with L&T, where it
has recently acquired a 10 per cent stake for Rs 766 crore.
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Telco posts
cash profit on Indica
Pune:
Tata Engineering has achieved cash profit on Indica during
July-September and is unveiling Sedan and Estate variants of the
car at next month's Auto Expo.
The company sold 4,900 units of Indica per month during July-September.Indica
sold 38,043 units during April-November this fiscal, a 18 per cent
rise over last year.
Its market share in premium small car segment also grew to 21.6
per cent from 17.4 per cent a year ago.
Telco is also exploring
markets in South-East Asia and Turkey for ex-porting the Indica as
completely-knocked-down units. At present, the car is exported to
markets in Bangladesh, Kenya, Egypt, South Africa, Malaysia and
Malta.
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Hero
Puch plans 4 stroke scooters
New Delhi:
Hero Puch plans to launch a slew of 4-stroke two-wheelers, in the
75 cc to 150 cc range, over the next one year.
The new vehicles to be launched are being designed by Hero Global
Design Services in association with IDEA of Italy. The first
two-wheeler in the planned series will be a 75 cc 4-stroke moped.
The 4-stroke 75 cc moped, fitted with the Briggs & Stratton
engine from the US will be launched in March, 2002. Hero Puch has
a collaborative agreement with Briggs & Stratton, one of the
worlds largest 4-stroke engine manufacturer, for developing
engines.
Hero Puch will introduce
scooters in the 100 cc and 150 cc categories by the end of the
year 2002.
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Torrent
to launch 3 HIV drugs
Ahmedabad:
Torrent Pharmaceuticals Ltd is planning to launch three anti-HIV
drugs by the end of 2001. Initially, products would only be
launched in Brazil.
The company has
identified Brazil as a base to penetrate the Latin American
market. Recently, Hyderabad-based Hetero Drugs had bagged an order
worth Rs 24 crore to supply an intermediate for HIV-drug to
Brazil.
The Brazil government spends $500 million for purchasing drugs to
be distributed free. Almost 70 per cent of this amount is spent on
anti-HIV drugs.
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Anchor
ties up with Italian co
Mumbai: Anchor
Electronics has tied up with the Ave Spa of Italy to manufacture
and distribute electrical accessories, which have decorated homes,
palaces and mansions in Europe, in India.
The Italian company has outlined plans to set up 60 electrical
boutiques across India by December 2002.
Ave has over 170 patents for switches and electrical accessories
designed by it. The joint venture company in India, called Anchor
Ave, has started its first electrical accessory boutique in Mumbai
and plans to open seven more in other cities like Delhi,
Chandigarh, Bangalore, Chennai, Ahmedabad and Pune.
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Daikan
Shriram explores outsourcing from GE
New Delhi:
Daikan Shriram is in talks with GE India for outsourcing motors
for its airconditioners. The company is also talking to Lloyd
Electronics for outsourcing electric coil and few other vendors
for sheet metal and dyes.
Daikin Industries, a Thailand based company is currently supplying
SKD, CKD and some finished goods for Daikin air conditioners.
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BIFR
okays closure of Hindustan Fertiliser
New Delhi:
The Board for Industrial & Financial Reconstruction has
confirmed the winding up of the sick public-sector company,
Hindustan Fertiliser Corporation.
The winding-up would affect 7,500 workers and employees in its 4
units in West Bengal, Bihar and Assam and offices in New Delhi and
Kolkata.
Meanwhile, different trade unions demanded that the case should
now be referred to the Appellate Authority for Industrial and
Financial Reconstruction and go for united action against the BIFR
order.
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Bajaj
Auto launches new service system
Chennai:
Bajaj Auto Ltd has launched and advanced service system aimed at
improving the performance efficiency of its dealers. Under the
system, Bajaj dealers will be provided with layout plans on how to
streamline the service area and also install hydraulic equipment
to improve performance efficiency.
Under the new system,
dealers would be able to increase the number of vehicles handled
per day without increasing either the staff strength or the area
available. The performance efficiency improvement would be through
increased use of high-precision pneumatic control tools, hydraulic
equipment, and pre-determined pumping of oil into the vehicles.
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Zee
Turner to up subscription rates
Mumbai:
Zee Turner is considering a hike in the subscription rates for its
bouquet of 18 channels from around mid-January.
Turner International
India has already intimated its distributors to effect a hike of
Rs 2.25 per subscriber per month with effect from January, 2002,
for the package of its pay channels, HBO, CNN and Cartoon Network.
The Zee bouquet of 15
channels is priced at Rs 30.
Recently, Star TV
announced a hike of Rs 12 in its cable subscription rates for its
digital bouquet of six channels, with effect from January 2002.
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Reliance
insurance premium goes up 60%
New Delhi:
The insurance premium for the Reliance group has gone up by over
60 per cent to about Rs 125 crore compared to the previous years
Rs 75-odd crore. The sum assured is in the region of Rs 50,000
crore. The group will now have individual covers for its companies
and plants located in Jamnagar, Hazira, Patalganga and Narora
instead of a comprehensive policy.
The company had to shell
out a higher premium in December 2000 as well due to the hardening
of the global reinsurance market.
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Andrew
Yule plans tea gardens sale
Kolkata:
Andrew Yule & Co Ltd is exploring the possibility of reducing
its exposure in tea growing and marketing.The company will
initially dispose of the estates mortgaged to the Unit Trust of
India.
Andrew Yule has also
entered into talks with Tata Tea for a possible sale of some other
gardens owned by it.
Andrew Yule has 12 tea
gardens -- seven in Assam, four in Dooars and one in Darjeeling.
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