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Mahajan
warns of tough legal action against VSNL
New Delhi: Union
Communications Minister Pramod Mahajan has asked VSNL to revoke
its decision to invest Rs 1,200 crore in Tata Teleservices Ltd,
failing which he would resort to every legal measure
possible.
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Tatas
clarify investment by VSNL
Mumbai: The Tatas
have clarified that the investment of up to Rs 1,200 crore by VSNL
in Tata Teleservices is to be made over a 48-month period (and not
immediately), under the supervision of a board committee.
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ONGC
nets highest profit by Indian corporate
New Delhi: Oil
and Natural Gas Corporation has achieved a net profit of Rs
6,197.9 crore for the financial year 2001-02, the highest net
profit ever recorded by an Indian corporate.
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A-I
MD Gogois term extension stalled
New Delhi: Air-India is heading for a phase of uncertainty
with the appointments committee of the cabinet refusing extension
for the airlines acting managing director J N Gogoi.
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Special
VRS package for BGML staff
New Delhi: Under
a scheme approved by the cabinet, 3,533 employees of Bharat Gold
Mines will be offered a special terminal benefit package for a
period of one month from the date of notification.
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Indian
Airlines CMD Arora to get full term
New Delhi: Sunil Arora, joint secretary in civil aviation
ministry, will most probably be appointed as the full-time
chairman-cum-managing director of Indian Airlines.
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Parry
Agro net profit rises by 8%
Chennai:
Parry Agro Industries, a part of the Murugappa group, has posted a
net profit in the year ended 31 March 2002 of Rs 1.23 crore - an
increase of 8.8 per cent over Rs 1.13 crore in the previous year.
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ITC
to roll out ready-to-serve gourmet desserts
Mumbai: ITC Foods, a division of ITC Ltd, is all set to
introduce ready-to-serve desserts, including vermicelli-based payasam
(sevian) and khubani ka meetha (an apricot-based
sweet), in 450-g cans.
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Problems
over supply to affect Travancore Cements
Thiruvananthapuram: Uncertainty hovers over the
modernisation of the state-owned Travancore Cements Ltd near
Kottayam because of hindrance in the supply of the raw material,
lime shell.
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Subex
Systems plans Rs 20-crore rights issue
Bangalore: Telecom products company Subex Systems plans to
fund its expanding, marketing and sales initiatives through a Rs
20-crore rights issue, its managing director Subash Menon said.
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Global
licensing is Ranbaxy prescription for growth
Mumbai: The global licensing initiative also seeks to
strengthen collaborative research through alliances with drug
delivery and research companies.
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Thermax
banks on services business for growth
Pune: Thermax Ltd, the energy and environment major, is
looking at a five-pronged strategy for driving growth, says
Thermax chairperson Anu Aga.
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IBM
cuts 2,000 jobs from services division
New York: International Business Machines, the worlds
largest computer-maker, has cut about 2,000 jobs from its services
division, a union spokesman said.
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Healthaxis,
Satyam join hands
Bangalore: Healthaxis,
in partnership with Satyam Computer Services, has signed a
multimillion dollar contract to provide a new membership
management system (MMS) for Washington State Health Care
Authority.
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BEL,
BEML stocks volatile due to tensions
Mumbai: The last
one month has seen sharp fluctuations in the share prices of
Bharat Earth Movers Ltd (BEML) and Bharat Electronics Ltd (BEL).
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