Backlog for Indica V2 Tata Engg runs 2nd shift at Pune assembly unit
Pune: Tata Engineering's Pune-based passenger car manufacturing plant on Monday saw a milestone of sorts when the company commenced operations in the second shift at its final assembly, the first time ever since it kicked off passenger car business.
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Gujral group opens centre for hospitality training
Mumbai: The Gujral group of hotels has announced the launch of Golden Regency International Centre for Hospitality Management (GRICHM) in association with Regency Institute of TAFE (Training & Further Education), Government of South Australia.
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Gujarat Ambuja merger plan okayed
Mumbai: Gujarat Ambuja Cements Ltd proposes to merge subsidiary Ambuja Cement Rajasthan Ltd with itself, with the board of directors of both companies unanimously approving the merger, said a news release by Gujarat Ambuja.
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Sumitomo joins race for SWIL
Sumitomo Corporation of Japan has joined the queue of interested parties to buy SWIL Ltd, a company, with 50,000 tpa capacity to produce refined copper, put on sale under a restructuring package worked out by its creditors.
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Jindal Steel's rail mill to go on stream in Q3
Mumbai: Jindal Steel and Power Ltd (JSPL) is likely complete the commissioning of its Rs 400-crore `Rail and Universal Beam Rolling Mill' by September this year following which commercial production is expected to start by the end of the third quarter of this year.
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Apollo `First Med Hospitals'
Chennai: Apollo Hospitals Enterprises Ltd opened the first of its hospitals in the `First Med Hospitals' chain at Chennai on Sunday.
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DCA prescribes norms for financial aid from IE&PF
New Delhi: Profit-makling associations may not be allowed to dip into the Investor Education & Protection Fund (IE&PF). However, the Committee of the IE&PF has the power to give a project to any organisation.
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GSPL signs pact for gas transportation
Ahmedabad: Gujarat State Petronet Ltd (GSPL) has signed a gas transportation agreement for 0.3 MMSCMD of gas with Gujarat Industrial Power Corporation Ltd (GIPCL). This would translate into an additional annual revenue Rs 12 crore for GSPL.
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Shiva Cement may move into red
The Rourkela-based Shiva Cement Ltd may register a loss for the financial year ended June 30, because of low product price, plant closure for almost 100 days and some external factors.
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I-T slaps Rs 100-cr levy on Sterlite
Mumbai: The income-tax department has slapped a tax demand of nearly Rs 100 crore on four investment companies linked to Sterlite Industries.
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Boots Piramal to expand OTC product portfolio
Mumbai: Boots Piramal, the joint venture between Boots Healthcare International and Nicholas Piramal, plans to beef up its presence in the fast-growing, Rs 2,500-crore, over-the-counter business with a slew of new launches and a foray into new segments.
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IFC set to acquire 10% in Escotel
Kolkata: IFC, Washington, may shortly acquire over 10% in Escorts Telecom - a wholly-owned subsidiary of Escorts. ETL holds the fourth cellular licences in Punjab, Uttar Pradesh (East), Rajasthan and Himachal Pradesh.
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Toyota to invest $400m on new car for India
New Delhi: Toyota Kirloskar Motor, Indian subsidiary of the Japanese auto major, is planning to invest $400 million in its volume car project for the Indian roads.
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BoI Q1 net up 42% to Rs 177 cr
Mumbai: Bank of India has reported a 42.43% rise in net profit at Rs 177.1 crore for the quarter ended June 30 against Rs 124.4 crore in the year-ago period.
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Fare war to heat up as Sahara plans expansion
New Delhi: In a major expansion programme, Air Sahara is targetting to increase its number of flights from 53 to 155 by the year-end covering the entire country by taking its fleet strength to 24.
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Lull over, Reliance Info beeps again
Mumbai: Reliance Infocom had announced major plans to enter a host of telecom businesses. Somewhere along the way it lost out to the Tata and the Bharti Groups. However, senior officials insist plans are back on track.
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Sify Q1 sales up by 16%, cash loss down to $4m
Chennai: Satyam Infoway announced on Monday that it has cut down its cash loss to $4.1 million in the first quarter ended June 30, 2002, from $6.1 million reported in the same period last year.
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Bajaj Group appoints mediator to avoid split
Mumbai: The Rs 6,000-crore Bajaj Group, which is in the midst of a break-up following the decision of Rahul Bajaj's younger brother Shishir's move to leave the group, has appointed a mediator to reach an 'amicable settlement'.
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Mass brands are FMCG stars
Mumbai: Value-for-money brands are expected to be the fastest sales grossers for FMCG companies. These brands did better than premium brands in 2001 and the trend is expected to pick up this year.
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Louis Vuitton to set up shop in India
New Delhi: The world's leading luxury products group Louis Vuitton Moet Hannessy, which markets fashion brands such as Christian Dior, Ebel, TAGHeuer, Zenith and Fred is setting up shop in India.
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Alembic gets DCGI nod for clinical trials of injections
Mumbai: Alembic has become the first company to have obtained the Drug Controller General of India approval to carry out clinical trials and bio-equivalence studies for cefatament pivoxil and cefepime injection.
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WB govt may renew talks with IOC on HPL stake
Kolkata: The West Bengal government, one of the principal promoters of the beleaguered Haldia Petrochemicals Ltd, is considering renewing talks with Indian Oil Corporation for its participation as a fourth partner in the company.
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Sahara counters farecitement with crickcitement
New Delhi: Close on the heels of heavy discount schemes announced by Jet Airways and Indian Airlines, Air Sahara on Monday launched a Rs 25-crore promotion crickcitement under which every passenger will win a prize.
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