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Indal lines up Rs 230 crore to add capacity at Hirakud smelter
New Delhi: Indian Aluminium Company Ltd (Indal) will invest Rs 230 crore to
expand the capacity of its Hirakud smelter in Orissa from the present
30,000 tonnes per annum to 57,000 tpa.
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IFFCO records sales turnover of Rs 5,096 crore
New Delhi: Indian Farmers Fertiliser Cooperative Ltd has registered a sales
turnover of Rs 5,096 crore. Its pre-tax profit jumped to Rs 371.15 crore
during 2001-02 from Rs 234 crore in 2000-01, an increase of 58 per cent.
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BOC first-quarter net profit at Rs 12.78 crore
For the quarter ended 30 June 2002, BOC India Ltd has registered a slight
improvement in net sales and registered a net profit of Rs 12.78 crore
compared to a net loss of Rs 80 lakh in the corresponding quarter of the
previous year.
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Cidex prepares plans for trade fairs
New Delhi: Cidex has drawn up ambitious plans for organising high quality
trade fairs to meet business interests in different parts of India. The
calendar of events includes several international exhibitions and conferences on a wide
range of topics and industries.
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DCA studies breach of Companies Act by Reliance
New Delhi: A DCA official has confirmed that the department is examining the
nitty-gritty and details of the 600-page report of alleged breack of the
Companies Act by the Reliance group, and based on their findings actions
would be initiated.
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Ambuja (Eastern) plans commercial complex in Kolkata
Kolkata: With surplus power, good telecom connectivity, reasonably low real
estate prices and a low level of communal disharmony, Kolkata is all set to
be one of the most investment-friendly destinations in the country, so
Ambuja (Eastern) is planning to build a commercial complex there.
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UB uncorks new company for low-end market
Mumbai: The UB group is rejigging its presence in the low-priced segment of
the Indian made foreign liquor market through a new company, Phipson
Distilleries Ltd. Phipson will provide the umbrella for the group's low-end
(third line) brands.
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Jubilant may merge Vam companies with itself
Mumbai: The board of directors of Jubilant Organosys Ltd (formerly Vam
Organic Chemicals Ltd) is to meet on 17 July 2002 to consider the merger of
Vam Leasing and Vam Investments with the company. The company has informed
about it to the Bombay Stock Exchange.
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New reactor commissioned at KRL unit
Kochi: The residents of Kochi will have cleaner air to breathe, due to the
new reactor which has been commissioned at the hydro desulphurisation unit
of Kochi Refineries Ltd. This is part of the company's continuous
efforts to produce eco-friendly products.
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Lagan Jute back in black
Kolkata: After registering losses for years, Lagan Jute Machinery Company
Ltd has recorded a nominal net profit. Under the guidance of Sanjay
Kajaria, director of Muralidhar Ratanlal Exports Ltd, the company has recorded
a net profit of Rs 4.74 lakh.
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HPL still sourcing naphtha from IOC
New Delhi: Contrary to what was announced recently by its chairman Tarun
Das, Haldia Petrochemicals Ltd is continuing to purchase naphtha from Indian
Oil Corporation.
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Balrampur Chini to supply ethanol to oil firms from August
Kolkata: Balrampur Chini Mills Ltd will start supplying ethanol to oil
majors such as Indian Oil, Bharat Petroleum and Hindustan Petroleum from
August 2002. Production and sale of ethanol to oil companies is a part of
the company's overall strategy.
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Firms may be allowed to issue neutral equity
New Delhi: The DCA has indicated that an amendment to the Companies Acts
existing provisions on shares with differential rights on voting and
dividend can be notified to allow companies to issue equity with zero voting
rights.
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Dabur to licence vaccine to US
Mumbai: A leading US-based bio-pharmaceuticals company is all set to license
in a potential cancer vaccine developed by Dabur Research Foundation, the
R&D outfit of Dabur India.
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Bharti's ISD rates half of VSNL's tariff
New Delhi: The much-awaited slash in international telephone call rates is
set to happen with the home ministry giving Bharti the security clearance to
start operations after keeping it pending for months.
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US cargo to bear levy of $35/box
Mumbai: Come 14 July 2002, Indian shippers to the US will have to shell out
a new war surcharge of $35 for every container loaded or unloaded at the
ports of Mumbai, JNPT, Kandla and Pipavav.
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Wipro seen sniffing out Karnataka Soaps
Bangalore: Even as the Karnataka government announced that it would offload
its 74-per cent stake in Karnataka Soaps and Detergents -- the makers of
Mysore Sandal Soap -- potential bidders are awaiting detailed guidelines
before throwing their hat into the ring. The industry believes Wipro might
be a front-runner as KSDL's portfolio will fit nicely with its own.
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BPCL leads the branded fuel race with Speed
Mumbai: The era of value-added, branded fuels was ushered in on Tuesday with
BPCL's launch of a new, high-performance petrol called Speed.
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ITC debuts stationery products
Chennai: ITC Greeting Cards Business, headquartered in
Chennai, has forayed into stationery products segment with the launch of Expressions PaperKraft.
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Japans NGK may buy Indian Rayon division
Kolkata: The $1.8-billion NGK Insulators Ltd of Japan, the world's largest
maker of power insulators, may be on course to acquire Jaya Shree Insulators
-- the insulators division of Indian Rayon and Industries Ltd.
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Escorts to sell JV stake to partner JCB for Rs 200 crore
New Delhi: Escorts is close to selling its entire 40-per cent
stake in Escorts-JCB to the UK-based JC Bamford Excavators, the majority partner in
the Rs 474-crore joint venture.
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Bagri's Metdist to set up wholly-owned firm in India
Mumbai: Metdist, the global metal trading giant owned by Lord Raj
Bagri, chairman of London Metal Exchange, is setting up a wholly owned company
Metmin Exploration in India.
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Aurobindo Pharma sets up division for generic market
Chennai: Aurobindo Pharma Ltd, a bulk drug major, has plans to introduce all
the possible antiretrovirals in the generic form. The company has already
established its Institution division to cater to the generic market.
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Mercator expands fleet size to six petroleum product tankers
Mumbai: Mercator Lines has acquired a 50,000-dead-weight-tonnage product
tanker for petroleum products, taking its fleet size to six product tankers.
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P&Os Chennai box terminal gets Rs 300-crore facelift
Chennai: Chennai Container Terminal Ltd, the Chennai-based operating arm of
P&O Ports, has brought about a new look to the container terminal of Chennai
port.
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Maharashtra wants NTPC to buy Dabhol-II power
Mumbai: The Maharashtra state government, which has expressed its inability
to absorb the Dabhol phase-II (1,444 mw) power, has reiterated its demand
that the centre should involve the NTPC to purchase the power and distribute
it in power-deficit states.
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