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Hexaware is
a favourite among investors
Mumbai: The share
price of Hexaware Technologies Ltd, formerly Aptech Ltd, has seen
a sharp increase in just two days of its listing on the Bombay
Stock Exchange.
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US
MNC may buy Shasun Chem stake
Mumbai: A US-based pharma major is expected to take a
strategic stake in Shasun Chemicals and Drugs. Market sources
believe that the strategic stake by the MNC will be to make the
company as a base for outsourcing drugs for exports.
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CCEA
approves IISCO
restructuring
New Delhi: The Cabinet Committee on Economic Affairs has
approved a financial restructuring plan for Indian Iron and Steel
Company, a subsidiary of Steel Authority of India Ltd.
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BoB
unveils Paras with MasterCard
Mumbai: Bobcards Ltd, a wholly owned subsidiary of Bank of
Baroda, and MasterCard International have announced the launch of
PARAS credit cards.
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NHB
to float Rs 85-crore MBS today
Mumbai: The National Housing Bank will launch its fourth
mortgage-backed security amounting to Rs 85.35 crore on Wednesday.
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Shantha
bio-hepatitis-B vaccine gets WHO nod
Mumbai: Shantha Biotechnics has announced that it been
awarded the World Health Organisation certification for its
hepatitis B vaccine, Shanvac B, the countrys first indigenous
recombinant DNA vaccine.
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CIAL
board to discuss private placement, rights
Thiruvananthapuram: The board of directors of Cochin
International Airport Ltd is scheduled to meet here on Thursday to
discuss pressing issues such as subscription of the long-pending
rights issue and private placement.
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UT
to hive off non-core businesses
Mumbai: Hydraulics major UT Ltd has firmed up plans to hive
off non-core businesses and focus on consolidation in areas of its
core competency.
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US firm
likely to tie up with Bengal Chemicals
Kolkata: An American chemical major has expressed interest
on forming a joint venture company with the century-old Central
public sector unit, Bengal Chemicals and Pharmaceuticals Ltd, a
company set up by Acharya Prafulla Chandra Ray.
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Cummins
India performance on expected lines
Chennai: Cummins Indias performance for the year ended
March 2002 has been on expected lines. The company reported a
20.77 per cent dip in net profit at Rs 86.3 crore and a 13.87 per
cent drop in sales to Rs 740.91 crore compared to the previous
year.
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Tata
Engineering May CV sales increases 82%
Mumbai: Tata Engineering has reported total sales of 12,453
vehicles in the domestic market in May 2002 an increase of 12
per cent over the same month the previous year.
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Gail
firms up business strategy
New Delhi: The
state-run Gas Authority of India Limited has firmed up a
comprehensive business strategy with a view to concentrating on
the quality-conscious sector such as raffia, monofilament, wire
and cable, insulation, blow moulding and optic fibre cables.
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L&T
targets projects in Middle East
Mumbai: Engineering
major Larsen & Toubro has appointed active agents and sponsors
in the Middle East and Gulf countries in a bid to garner a share
of the urban infrastructure and power projects in the region.
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PPL
commissions Rs 5-cr effluent treatment plant
Mumbai: The
Zuari Maroc-owned Paradeep Phosphate Ltd has commissioned an
effluent treatment plant, the largest of its kind in the
fertiliser industry, marking the beginning of a process that would
ultimately give it the status of a zero-pollution plant.
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Post-divestment,
SCI to continue with Irano Hind
Mumbai: The Shipping Corporation of India will continue to
be a partner with the Iranian government in the Irano Hind
Shipping Company after disinvestment.
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RBI
allows FIIs to buy up to 49% in UB
Mumbai: The
Reserve Bank of India has notified that foreign institutional
investors can purchase equity shares and convertible debentures of
United Breweries Ltd up to 49 per cent of its paid-up capital
through primary and secondary markets in India.
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Nalco
PAT at Rs 53.38 crore
Mumbai: National Aluminium Company has posted a net profit
after tax of Rs 53.38 crore, during May.
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Nasscom
seeks one-stop agency for IT sector
New Delhi: Nasscom has urged the central government to set
up one nodal agency on the lines of the Singapore Economic
Development Board to act as a one-window clearance for the
fast-growing IT sector.
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Max
Healthcare to recast operations
Mumbai: Max Healthcare, part of the Analjit Singh-promoted
Max India, is undertaking an organisational restructuring under
which it will carve out its hospital care division and ambulatory
care division, consisting of Max Medcentres and Dr Max Clinics,
into separate performance centres.
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Tisco
sails through troubled waters
Mumbai: An analysis by Economic Times Intelligence Group
shows that Tata Steel was the least affected by the glut in the
steel industry and Essar Steel was the worse hit.
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Aviva
Life in strategic alliance with Amex
Mumbai: Aviva Life Insurance, the 74:26 joint venture
between Dabur Group and CGU, has entered into a strategic alliance
with the American Express for distribution of life insurance
products.
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LIC
to team up with Bartley for Lankan venture
Mumbai: Life Insurance Corporation has finalised its joint
venture partner for its Sri Lankan venture: Bartley.
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Reliance,
IPCL slash polymer prices again
Mumbai: Reliance Industries and Indian Petrochemicals
Corporation have reduced polymer prices for the second time in 10
days in order to combat imports from overseas suppliers like
ExxonMobil and Saudi Basic Industries Corporation.
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