Kinetic to launch 110cc bike
Pune: Kinetic is planning to enter the high-powered cruiser bikes segment in addition to rolling out a 110cc bike in the next one year.
Back to News Review index page  

Unitech, Insignia joint venture for realty
New Delhi: Property developer Unitech and real estate consultant Insignia Brooke are forming a joint venture company to professionally manage commercial properties in the national capital region.
Back to News Review index page  

ICICI, Zuari, Gammon bid for EIL stake
Mumbai: The private equity firm ICICI Venture Fund, KK Birlas flagship Zuari Industries and the construction company Gammon India Ltd have put in an expression of interest for the disinvestment of the 51-per cent equity stake in the public sector engineering services company Engineers India Limited.
Back to News Review index page  

Honda Siel to unveil Jazz
Mumbai: Honda Siel is planning to introduce Life, now available in 1-litre and 1.3-litre variants, as part of its strategy to enter the mass-selling B segment and capture volumes.
Back to News Review index page  
Max Healthcare for organisational recast
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.
Back to News Review index page  

SKF in talks with oil companies for alliances
Mumbai: The bearing major SKF India is scouting for alliances in the process and steel rolling industries to try and expand into services and trading.
Back to News Review index page  
Divestment ministry against BPCL IPO
New Delhi: The ministry of disinvestment has opposed the petroleum ministrys proposal to permit Bharat Petroleum Corporation Ltd to launch an initial public offering of 50 crore shares aggregating around Rs 1,000 crore.
Back to News Review index page  
FERA cases to be dropped against corporates
New Delhi: The Reserve Bank of India and the government have decided not to proceed under the erstwhile Foreign Exchange Regulation Act against top corporates, who had been served notices earlier for violating guidelines.
Back to News Review index page  
UTI Bank seeks strategic partner
Mumbai: The bank plans to enhance its Tier-I capital from the current level of Rs 191.88 crore during the second half of the current fiscal and options such as preferential offer and rights issue are being considered. It is also looking for a strategic partner for the plan.
Back to News Review index page  

IDBI Act changes to enable merger with any bank
New Delhi: The government is expected to incorporate an enabling provision in the IDBI corporatisation law to merge the financial institution with a bank.
Back to News Review index page  
Sinha believes economy will revive this year
New Delhi: The government has held out hopes of a turnaround in the economy on the back of a surge in revenue collection, especially indirect tax. Finance Minister Yashwant Sinha said he has reasons to believe that the economy will be better this year.
Back to News Review index page  
White paper may set off MSEB unbundling
Mumbai: A white paper on power sector reforms, to be presented in the Maharashtra state assembly by June-end, could be the beginning of unbundling and eventual privatisation of the Maharashtra State Electricity Board, State Government officials said.
Back to News Review index page  
Govt to find solution on UTI repayments
New Delhi: The government will find a solution to the help the Unit Trust of India meet its repayment obligations on two assured return schemes due for redemption on June 30, Finance Minister Yashwant Sinha said.
Back to News Review index page  
BHEL seeks strategic business alliances in IT
Tiruchi: BHELs Tiruchi unit is trying to establish strategic alliances with renowned names in the IT industry for IT-enabled services in the power sector as a business segment.
Back to News Review index page  
HAL plans work packages
Bangalore: Though HAL has been outsourcing smaller components for its various projects, the aerospace major is now looking at tooling, work packages, family of assembled components and ground handling equipment.
Back to News Review index page  
SAIL raises Rs 500 crore for funding VRS
New Delhi: Steel Authority of India Ltd has raised Rs 500 crore through issue of bonds for funding its VRS, for which the much-awaited government guarantee was received recently.
Back to News Review index page  
Sahara relies on Bengal tourism project
Kolkata: Sahara India is developing the worlds largest mangrove forest in the Sunderbans and is planning to develop it into a major tourist hub with floating vessels and world-class facilities.
Back to News Review index page  
Wimcos Chennai factory declares lockout
Chennai: Wimco Ltd has declared a lockout at its safety-match making unit in Chennai, according to information provided by the company to the stock exchanges on Tuesday.
Back to News Review index page  
IDBI meet on Kanoria revival
New Delhi: The Industrial Development Bank of India has been directed by the Board for Industrial and Financial Reconstruction to hold a joint meeting of all the parties concerned to discuss the proposed changes in the draft rehabilitation of Kanoria.
Back to News Review index page  
Essel Propack sees healthy growth in pharma sector
Mumbai: The packaging major Essel Propack Ltd has identified the pharmaceuticals sector as a thrust area for growing the use of its products. Conversion of potential users from their currently used packaging materials to laminated tubes is among one of its thrust areas.
Back to News Review index page  
Ashok Leyland sales rise 17% in April-May
Mumbai: Ashok Leyland Ltd has sold 17 per cent more number of vehicles in the months of April and May 2002, compared to those months of last year. The company sold 4,696 vehicles in the two months of the current year, as against 3,980 vehicles in the same period last year.
Back to News Review index page  

HSBC JV for insurance brokerage venture
Mumbai: HSBC will hold 26 per cent stake in the joint venture while discussions are on with several institutions for the balance of 74 per cent equity.
Back to News Review index page  
SBI says DRT has 5,780 cases pending
Mumbai: As many as 5,780 cases involving an amount of Rs 8,014.63 crore are pending with debt recovery tribunals as on 31 March 2002, according to SBI in its recent presentation made to the parliamentary estimates committee.
Back to News Review index page  
Tata-AIG sum assured hits Rs 1,100 crore
Mumbai: Tata-AIG Life Insurance has covered 440,000 individuals and has emerged as the largest among the private sector achieving a total sum assured of around Rs 1,100 crore with a premium income Rs 21 crore in the first year.
Back to News Review index page  
LIC forms JV for Sri Lanka
Mumbai: The state-owned LIC has formed a 75:25 joint venture with Sri Lankan Bartleet group of companies to re-enter the local life insurance market. The company will have a capital base of over Rs 1 crore to tap the underinsured Sri Lankan market.
Back to News Review index page  

Cheap, easier downloads from Sony, Universal
Mumbai: Record company giants Sony Music and Universal Music said they planned to soon offer cheaper and easier ways to download music from the web in the industrys latest effort to stem online piracy.
Back to News Review index page  

Tata Coffee Q4 net down 86% to Rs 50 lakh
Mumbai: Tata Coffee Ltd, a Tata Tea Ltd subsidiary, has reported an 85.7 per cent drop in net profit to Rs 50.20 lakh for the fourth quarter ended 31 March 2002 from Rs 351.69 lakh in the corresponding quarter last year.
Back to News Review index page  

PSL Holdings to set up greenfield project in NE
New Delhi: PSL Holdings, which is the largest steel pipe manufacturer in India, is looking to setting up greenfield Spiral Welded Pipe Mills in the north-eastern region of India, in anticipation of growth opportunities in the region.
Back to News Review index page  

IBM to automate health insurance
New York: International Business Machines is rolling out a programme to automate the health insurance claims, claiming it can save administrative costs, the company said on Thursday.
Back to News Review index page  
Moral victory for Andersen
New York: Andersen may have won a moral victory in its battle with the US government following a deadlocked jury in its obstruction of justice trial, but the rapidly shrinking accounting firm has already lost the war, accounting industry experts said on Wednesday.
Back to News Review index page  
Bertelsmann to take over Zomba Music
New York: Media giant Bertelsmann will use its first 1-billion euro benchmark bond to pay for the acquisition of US label Zomba Music Group, its chief finance office said on Tuesday.
Back to News Review index page  
Swiss Life changes CFO
London: Struggling insurer, Swiss Life, said it has hired a new finance chief from banking group, Credit Suisse, as part of an overhaul of top executives following a drastic strategy change.
Back to News Review index page  

Sony retail sales firm
Tokyo: Sony chief executive Nobuyuki Idei said on Wednesday that sales in the consumer electronics market remain robust, and played down concerns about recent yen strength and weak Japanese corporate spending.
Back to News Review index page