Bajaj Auto motorcycle sales zoom
Mumbai: Bajaj Auto sold more than 62,000 motorcycles in December 2001, which is 85 per cent higher than its sales in the same month in the previous year.

Bajaj's share in the motorcycle market has also gone up from 19.4 per cent in December 2000 to 24 per cent now.

Bajaj sold 27,400 scooters in December, which is significantly higher than about 16,800 scooters it had sold in December 2000.

The company's overall sales, which includes three-wheelers, were more than 1,11,000 units, have increased by over 53 per cent.
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Honda Siel's December sales up 15%
New Delhi: Honda Siels car sales have gone up in December 2001 on a year-on-year basis. The company sold 839 cars compared to 728 cars sold in December 2000, which is a growth of 15 per cent.
But the company's December sales are 4.5 per cent lower compared to November 2001, when the company had sold 879 cars.
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Reliance hikes PVC prices
Mumbai: Reliance Industries has increased the price of Poly Vinyl Chloride (PVC) by 3 per cent to Rs 31 per kg.

The price of partially oriented yarn (POY) has been reduced by 4 per cent to Rs 53.5 per kg, while the price of Polyester Staple Fibre (PSF) has been cut by about 5 per cent to Rs 41.75 per kg.

Reliance Industries will announce its unaudited financial results for the third quarter on January 31. The company's first half sales stood at Rs 12,624 crore while its net profit was at Rs 1,320 crore.
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ONGC to better its bid for Panna-Mukta
New Delhi: Oil and Natural Gas Corporation is likely to improve its offer of about $300 million for acquiring Enron's 30 per cent stake in Panna-Mukta and Tapti oil and gas fields.

ONGC, which holds 40 per cent in the three-way joint venture, had initially quoted over $ 400 million for buying Enron Oil and Gas India Ltd (EOGIL) but had lowered the offer price at the time of price bids.

Besides ONGC, Reliance too was interested in acquiring Enron stake in Panna-Mukta and Tapti fields. It is believed to have offered a price slightly lower than $ 300 million.
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BK to buy out VK from Modi Rubber
New Delhi: VK Modi has agreed to exit from the Modi Rubber Ltd by accepting an offer for acquisition of his stake by younger brother BK Modi.

BK Modi is expected to approach FIs afresh for buying out their shareholdings on his own and regain the management control.

The Modi family collectively controls 45 per cent in MRL.
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Le Meridien plans two new hotels
Mumbai: The Le Meridien group is planning to set up two more hotels, one each in Ahmedabad and Baroda.The two new hotels could be franchised properties on the same lines as Le Meridien in Delhi and Banglaore.

The group has 144 hotels in 57 countries.
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Shaw Wallace to import wine in bulk
Mumbai: Shaw Wallace & Company Ltd is in talks with global wine majors for importing wine in bulk.
The company plans to bottle and market the wine in the country. The company has initiated talks with wine majors in Chile, France, the US and Australia.

Shaw Wallace is the oldest and the largest player in the Indian wine Industry with a market share of around 32 per cent. The companys wine products range from Golconda Ruby Wine, Golconda Special Ruby, Golconda Dry Wine to Sacramental Wine.
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Amalgamated Bean Coffee to export speciality coffee
Bangalore: The Amalgamated Bean Coffee Trading Co Ltd, owners of the popular Cafe Coffee Day brand of coffee parlours, has decided to export speciality coffee. Of the companys total turnover of Rs 180 crore expected in 2001-02, the bulk Rs 100-120 crore is contributed by the export division. The division is likely to ship 5 per cent of its total exports in terms of volume and 10 per cent by value as speciality coffee during 2001-02.

Amalgamated Beans owns around 5,000 acres of coffee plantations in Chikmaglur in the Western Ghats of Karnataka.
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Eveready to expand packaged tea biz
Kolkata: The Eveready Industries India Ltd plans to expand its packaged tea business substantially and sell off its non-productive assets to retire huge debts.
Currently, the packaged tea business added only Rs 60 crore to the companys total turnover.

The company plans to double the number of Eveready vans to 1,000 to reach remote corners of the country. Each van would now also carry branded tea packets, besides other Eveready products.
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Videocon launches 1-G Internet TV
Mumbai: Videocon International has launched the first generation Internet TV for the domestic market.

The company aims to sell two to three lakh units in the current year. The TV set has been priced in the range of Rs 15,000 to Rs.23,000.

The company plans to manufacture internet based TVs and appliances, monitors, DVDs with internet and inverter based high-tech air-conditioners.
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Cybermate plans Rs 6 cr rights issue
Hyderabad: Cybermate Infotek proposes to raise Rs 6 crore through rights issue to fund expansion and to meet the working capital requirements.

The companys board has proposed rights issue of 48,70,650 equity shares of Rs 10 each at a premium of Rs 2.50 per share. The issue will be floated with a price band of 20 per cent on the issue price to the shareholders in the ratio of 1:2. A major portion of the proceeds would be invested for expanding the operations of its 100 per cent US subsidiary.
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HLL to sell seeds co stake
Mumbai: Hindustan Lever is set to sell a controlling stake in its seeds business to the US-based private equity investment firm Emergent Genetics.

Emergent Genetics has roped in consultant firm Arthur Andersen to undertake a due-diligence of HLLs seeds business. The due-diligence exercise, which is underway, is aimed at finalising the equity pattern of the alliance in a couple of weeks.

HLLs seeds division has an annual estimated turnover of Rs 95 crore. The company is likely to retain a minority stake in the joint venture.
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Baxter to take over IV fluid biz from Wockhardt Life
New Delhi: Baxter International is acquiring the intra-venous fluid business of Wockhardt Life Sciences. The deal is valued at Rs 120 crore.

Lazard India has been handling the Wockhardt deal for Baxter.

The $6.9-billion Baxter, a world leader in transfusion medicines, already commands about 40 per cent market share in this segment in India.
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Sterlite eyes Australian copper mines
Mumbai: Sterlite Industries is exploring the possibility of acquiring copper mines in Australia. This would be in addition to the two mines that it had bought last year in Tasmania, Australia, for $44 million.

Sterlite is also aiming for a listing on the London Stock Exchange.

Sterlite plans to raise about Rs 1,000 crore abroad to facilitate its consolidation exercise.
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Gail plans Rs 3,900-cr investment
New Delhi: Gas Authority of India has finalised investment plans totalling close to Rs 4,000 crore for the next two years. The bulk of the investment Rs 2,936 crore is for laying 610-km of pipeline from Dahej to Vijaipur in Madhya Pradesh.

The pipeline will enable Gail to distribute additional gas in Gujarat, Madhya Pradesh, Rajasthan, Uttar Pradesh and Delhi.

Gail will invest another Rs 100 crore on its diversification into telecom infrastructure. This involves laying 1,950 km of optical fibre cable with an initial capacity of 10 Gbps.

This will service, among others, Aligarh, Jhansi, Nasik, Sholapur and Hyderabad.
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TFL to sell stake in Tata Fin Amex
Mumbai: Tata Finance board has approved the sale of its entire stake in Tata Finance Amex. TFL currently holds majority stake of close to 65 per cent in Tata Finance Amex, which handles the foreign exchange business.
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LIC arm to buy GLFL Housing Fin portfolio
Mumbai: LIC Housing Finance Ltd is acquiring the outstanding home loan portfolio of GLFL Housing Finance Ltd worth approximately Rs 60 crore along with the attendant liabilities.

GLFL Housing Finance has a significant presence in Gujarat. With this acquisition, LIC Housing Finance would have a major presence in that sector.

LIC Housing Finance's disbursements of individual loans amounted to Rs 1,600 crore in 2000-2001; it has targeted disbursements of Rs 2100 crore in individual housing loans for 2001-2002.
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Tatra to unveil 30-tonne truck
New Delhi: Tatra Udyog Ltd will launch a new 30-tonne truck and foray into on-road vehicles with a tractor trailer.

The company intends to sell about 350 vehicles in fiscal 2002-03, with the new 30-tonne truck Hemang accounting for two-thirds of the sale.

The truck , priced at around Rs 39 lakhs, will be unveiled on January 10 at the Hosur facility.

Since the 1998 launch, Tatra Udyog has sold over 210 trucks to the off-road market. The 307-horse power vehicle has been converted into dumpers, excavators, cranes and cement mixers for its clients, including infrastructure developers such as Larsen and Toubro.
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Videocon to buy out Italian JV partner
Mumbai: The Videocon group is buying out its Italian partner's 16 per cent stake in Necchi Compressori.

The company will buy out the G Beccaria family's entire stake for around Rs 35 crore.

The company has received clearance from the Reserve Bank of India to invest the money abroad. Following the deal, Necchi Compressori will become a 100 per cent subsidiary of Videocon International.

Videocon International holds 84 per cent in the venture, which supplies compressors for Videocon-branded refrigerators and air-conditioners in India.
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Honda to launch new scooter
New Delhi: Honda Motorcycle and Scooter India Ltd will launch its new ungeared scooter in July 2002. The company also plans to launch its first geared product in July 2003. The prototype of these two scooters have been imported into the country as completely built units.

The new model will have the same 102 cc, automatic four-stroke engine as the Activa.
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Hindalco, Indal integrate marketing ops
Mumbai: The marketing divisions of the Aditya Birla groups two aluminium companies, Hindalco and Indian Aluminium, have been integrated with effect from January 1.

The marketing divisions of both the companies are now practically working together. The accounts and finance divisions are in the process of being integrated.
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