Tata Engineering turns around in Q4
Mumbai: Tata Engineerings car project has reduced losses, its operating profit margins having more than tripled from the 2 per cent of 2000-2001.
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Bidders sceptical about stiff covenants in SCI deal
New Delhi: Limited operational freedom due to the stiff covenants spelt out by the central government is worrying the bidders vying for a controlling stake in Shipping Corporation of India, possibly affecting the valuation of the 51-per cent stake.
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Indal not to close smelter plant at Alupuram
Chennai: The Indal management, on second thoughts, has decided to set up a captive power plant to ensure comparatively low-cost power for the smelter, which has the capacity to produce about 13,000 tonnes of ingot per annum.
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Reva to foray into market with new-look version
Mumbai: Reva, the first electric car made in India, is soon to come in a new version within 10 months of the concept car having been introduced amidst speculation about its ready acceptance.
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Grasim stops production at fibre plant
Mumbai: Grasim Industries Ltd has said it has halted production at its staple fibre plant located at Nagda in Madhya Pradesh due to a water shortage. A company spokesperson said the shutdown at the textile intermediary unit is from Wednesday.
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Phillips Carbon to merge Trans Holdings with itself
Mumbai: Phillips Carbon Black Ltd, an RPG-group company, is merging its subsidiary Transmission Holdings Ltd with itself. This is the only profit-making subsidiary of the company. The merger is a part of an overall corporate strategy.
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Opto Circuits likely to acquire HLL unit
Mumbai: Sensors-maker Opto Circuits Ltd plans to buy the business line of digital thermometers from Hindustan Lever Ltd. Talks with HLL are on, but the deal is yet to be signed, HLL managing director Vinod Ramnani said.
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DuPont, Epcoat tie up for Teflon car-care items
Mumbai: DuPont has entered into its first brand licensing agreement for Teflon, a registered trademark, in India for consumer products. An agreement has been signed between DuPont and Mumbai-based Epcoat Surface Systems for the marketing of the Teflon car-care items.
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TVS Electronics foresees signs of recovery in Q2
Chennai: After two successive quarters of decline in sales, TVS Electronics (TVS-E) is hopeful of making a neutral growth during the second quarter (April-June) of 2002, TVS-E director Gopal Srinivasan said.
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Dairy business transfer to hit Britannia
Mumbai: Britannia Industries has announced robust earnings numbers for the year 2001-02. Substantial one-time incomes have also buttressed Britannias bottomline for the year, with Rs 125.70 crore flowing in from the divestiture of the dairy business.
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Finolex clocks a growth of 175%
Pune: Finolex Industries Ltd has recorded a growth of 175 per cent in profits and has declared 20 per dividend for the year ended 31 March 2002.
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Ex-Enron workers may get $29-million deal
New York: One group of former Enron workers said a tentative agreement has been worked out to provide additional severance payments averaging $7,000 to 4,200 Enron Corporation employees fired in December, but a labour union source said members were holding out for more.
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IA lures companies with more incentives
New Delhi: With the lean season intensifying competition in the domestic market, Indian Airlines has started wooing corporate customers with special incentives of up to 9 per cent.
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Snus may come to Swedish Matchs rescue
Mumbai: Swedish Match sees India as a market with great potential for snus, the generic name the company uses for its smokeless tobacco products.
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Camlin shifts factory from Mumbai to Tarapur
Mumbai: Camlin, the diversified consumer goods company, is shifting its manufacturing operations from Mumbai to Tarapur in Maharashtra.
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Oriental foresees 12% premium growth
Mumbai: Despite stiff competition from private insurers, state-owned Oriental Insurance Company has set a growth target of 10-12 per cent in premium income at around Rs 2,650 crore for 2002-03.
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Innovative projects to improve HLL growth
Mumbai: Innovations will continue to drive growth for Hindustan Lever Ltd in the current calendar year, with several projects in the pipeline.
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Q4 net of 560 major companies rise 30%
Mumbai: The net profit of 560 major companies, which declared their fourth quarter results so far, rose by 30.0 per cent to Rs 10,483 crore during January-March 2002 from Rs 8,061 crore during the corresponding period of the year 2001.
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Tata Steel to get Rs 343-cr loan from SDF
Mumbai: Tata Steel has received approval of the joint plant committee for a loan of Rs 343 crore from the Steel Development Fund. The amount will be used for the benefit of the West Bokaro Collieries.
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Tanishq plans pilot ancillary jewellery unit
Mumbai: Tanishq is looking at setting up a pilot project as part of its initiative to set up self-help ancillary jewellery-making units to provide alternative employment opportunities to struggling traditional jewellery-markers or Karigars as they are referred to as.
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BEL soars on higher defence spending hopes
Mumbai: A number of block deals on the BSE and the NSE on Wednesday pushed the Bharat Electronics Ltd stock into the limelight. BEL, which moved up by almost 7 per cent on the BSE, registered a volume of 17.66 lakh shares.
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