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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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Keltron joins hands with CMC
Thiruvananthapuram: Keltron has signed an MoU with CMC for implementing advanced IT solutions for power systems.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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domain - B : Indian business : News Review : 29 May 2002 : companies