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HLL seeks
to get out of seafood business
Mumbai: HLL plans to
exit its sea catch business in 2002. The business accounted for 8
per cent of the marine export divisions turnover last year.
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Bajaj
Allianzs new medical insurance cover
Mumbai: Bajaj
Allianz is planning to launch a new medical insurance product on 1
July 2002. Bajaj Allianz chief executive officer Sam Ghosh said:
The new product will be similar to Mediclaim.
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Tisco
plans to foray into steel
Mumbai: Tata
Steel will soon join the league of companies like Itochu
Corporation, Mitsui and Company, and Mitsubishi International
Corporation by entering the steel trading business.
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ACL
Chem unveils new beta-carotene product
Chennai: ACL Chemicals Ltd, an R&D company, has
announced the commercial launch of Natrotene, a natural
beta-carotene extracted from the marine algae, dunaliella salina.
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Qwickys
staff likely to become shareholders
Mumbai: Taking
a cue from global coffee-chain Starbucks, Qwikys is offering 5
per cent of the total 50-lakh shares to its employees as part of
the employee stock option scheme.
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Gulf
carriers morph into European airlines
Mumbai: Gulf
airlines operating out of India seem to be slowly but steadily
morphing into European carriers. About 40-45 per cent of the
traffic being carried by airlines such as Emirates, Gulf Air and
Kuwait Air-ways is now bound for Europe and beyond.
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TVS
asks suppliers to set base in Southeast Asia
Chennai: TVS
Motor company, planning a manufacturing facility in Southeast
Asia, has sounded out to its leading component suppliers like
Sundaram Clayton, Sundaram Fasteners, Gabriel India, Brakes India
and Laxmi Auto Components to follow suit.
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Videocon,
LG, Amtrex to make Africa colder
Mumbai: Africa
is increasingly becoming a potential export market for leading AC
manufacturers in India. And key players like Amtrex Hitachi, LG
Electronics India and Videocon are now planning their African
safari to double or treble their exports.
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M&Ms
Scorpio to hit market soon
Mumbai: Mahindra
& Mahindras much-awaited Scorpio, which promises to stiffen
competition in the utility vehicle market, will be fitted with an
all-new diesel engine to enhance performance and take on
competitors.
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Birlas
to use UK companys Purista
Mumbai: The
Aditya Birla group has entered into an alliance with the UK-based
chemicals company Avecia Bioscience to exclusively use the latters
Purista trademark for apparels and fabrics in India. Purista is an
anti-microbial textile chemical brand from Avecia Bioscience.
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Apollo
Colombo to float Rs 150-crore IPO
Colombo: Soon after the launch of its first international
hospital in Colombo on last Friday, set up with an investment of
SL Rs 300 crore (Rs 150 crore) in a 1:1.3 debt-equity ratio,
Apollo Hospitals group chairman Dr Prathap C Reddy is going full
steam ahead for an initial public offering for Apollo Hospitals
Colombo.
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