Samsung may double handset investment
Mumbai: South Korea's Samsung Electronics Company has said it may double spending on mobile phone production this year to boost output, defying worries about market saturation and consumer reluctance to upgrade handsets.
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HMT watch unit sale doesnt tick with big firms
Bangalore: HMTs decision to invite expression of interest for offloading a 74-per cent stake in its watches unit has been met with a shrug from the premier watchmakers in India.
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Essar Ship sinks Rs 330 crore in arms
Mumbai: Essar Shipping has taken a hit of Rs 330 crore on account of its investments in two group companies Essar Steel and Essar Oil according to information available in the companys balance sheet.
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Magors to shed stake in WM
Kolkata: The UK-based Magor family is keen to sell off their strategic 26.9-per cent holding in the B M Khaitan-controlled Williamson Magor & Company Limited.
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UTI, LIC plans to exit Punjab Tractors
Mumbai: UTI and LIC are looking to exit the Rs 964-crore Punjab Tractors.
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Orchid Chem forms 50:50 JV with Bexel
Chennai: Orchid Chemicals and Pharmaceuticals, the Chennai-based Rs 425-crore integrated pharma player, has clinched a 50:50 joint venture alliance with a California-based drug discovery research firm Bexel Biotechnology Inc.
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Nilkamal net profit up 42%
Mumbai: Nilkamal Plastics Ltd, the largest moulded plastics furniture com-pany in India and Asia has reported a net profit growth of 42.5 per cent to Rs 3.75 crore for quarter ended period 31 March 2002 against a net profit of Rs 2.63 crore in the corresponding quarter.
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HLL remains No 1 advertising spender
Mumbai: The overall spend on advertising and promotions for 2001-02 crossed Rs 9,000 crore. The bulk of this, close to Rs 6,500 crore, was on mainstream media and the rest on below the line, promotional activity. As usual, Hindustan Lever emerged as the top spender with Rs 500-600 crore of media spend.
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Oil prices in inland cities to increase
Mumbai: Oil marketing companies will shortly raise prices, but price hike will be restricted to the inland cities only. The companies have finally decided to do away with the freight equalisation scheme.
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Star TV plans IPO to fund expansion
Mumbai: Rupert Murdochs Star TV is considering the option of an initial public offering for its Indian subsidiary some time in 2002-03 to raise funds for expansions including a plan to begin DTH operations in India.
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Companies queue up for overseas funds
New Delhi: The external commercial borrowing desk of the government, after lying practically idle last fiscal, has started seeing some furious activity with corporates queueing up for overseas funds for their investment plans.
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Haldia Petro rejects IOC demands
New Delhi: With talks between Haldia Petrochemicals Ltd and the PSU oil major Indian Oil Corporation breaking down, efforts are now on to start afresh the process of finding a strategic partner for the beleaguered company.
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Staff disclosure norms applicable to more firms
New Delhi: DCA has said the revision of limits in respect of employees should be covered under statement to be attached with the report of the board of directors pursuant to Section 217(2A) of the Companies Act, 1956.
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HC stays Dunlop move to remove documents
Kolkata: Justice Ganguly and Justice H Banerjee, heading a division bench of the Calcutta High Court, stayed the intention of Dunlop India Ltd from removing records and some documents from the custody of the previous head office at Mirza.
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25 foreign firms can buy out subsidiaries' stake in Q1
New Delhi: The trend among foreign companies to convert their Indian joint venture subsidiaries into wholly owned subsidiaries, which started around two-and-a-half to three years ago, continues unabated.
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Labour unrest affects work at English Indian Clays
Mumbai: Operations at English Indian Clays Ltd at Veli have been affected following labour unrest over the suspension of an employee by the management. The suspension had led to an agitation by the employees on Sunday.
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SBT appointed operating agency for Alind revival
Mumbai: The efforts to rehabilitate the ailing Aluminium Industries Ltd have taken another turn, with the State Bank of Travancore being appointed as the new operating agency.
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Sasken slips into the red, blames telecom slowdown
Banglore: The downturn in telecom industry has taken a toll on the Bangalore-based Sasken Communication Technologies Ltd, as the company has slipped into red for the first time in seven years. Sasken has reported a loss of Rs 15.63 crore.
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CLP power shelves Mangalore project, Pagathuan expansion
Mangalore: CLP Power International has decided to put on hold its 1,000-mw Mangalore Power project to be executed jointly with the Tata Electric Company as well as its expansion plans for the 655-mw Pagathuan project despite having in-principle approval of the Gujarat government.
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Rourkela steel plant achieves best ever Q1 production, sales
Patna: Rourkela steel plant of Steel Authority of India Ltd has achieved the best-ever first quarter production and sales since its inception.
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Pepsi Foods to source Bengal fruits for Tropicana juice
Mumbai: Pepsi Foods Ltd has decided to use Indian fruit for its Tropicana range of fruit juices. Pepsi is eyeing West Bengal as a source of pineapples for the Tropicana pineapple juice.
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Cement despatches increase in June 2002
Mumbai: The cement sector continues to post a strong performance with ACC, Gujarat Ambuja and Larsen and Toubro, all registering increase in despatches for the month of June 2002.
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WorldCom paying some dues to VSNL
Mumbai: Videsh Sanchar Nigam Ltd is getting a portion of its dues remitted from the beleaguered telecom company WorldCom. It is not known exactly how much VSNL is receiving, nor exactly how much it is owed.
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Coke joins McDonald's to serve a hot cuppa
Mumbai: Coca-Cola India is entering the hot beverages market for coffee and tea, taking on established players such as Hindustan Lever and the Tatas. 
The 25-year-old global hot beverage brand from the Coca-Cola portfolio, Georgia, will be made available at McDonald's restaurants.
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Soccer works magic for colour TV sales
Mumbai: The 'soccer fever' has brought in the 'golden boot' not just for Brazil, but also for the colour television players who are singing un dous tres all the way to the bank.
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Western Union sees good scope for growth
Mumbai: Western Union Financial Services International, which operates in India through three liaison offices, sees good scope for growth in India. So much so that it may convert its India operations into a subsidiary company incorporated here.
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HC rules out judicial review in hire purchase deal
Chennai: The Madras High Court has held that in respect of an award passed by an arbitrator arising out of commercial transaction, it is not possible to resort to a judicial review of the same by invoking Articles 226 or 227 of the Constitution.
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