Wipro acquires GE medical sys IT for $5.73 million
Bangalore: Wipro Limited announced on Thursday that it had acquired 100 per cent stake in GE Medical Systems Information Technologies Private Limited for an all cash deal worth $5.73 million.
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Jisco back in black with Rs 9.70-crore profit; negotiates debt restructuring with UTI
Mumbai: Jisco, Indias largest exporter in the galvanised plain and galvanised corrugated sheet segment, is back in the black with a net profit of Rs 9.70 crore in the first quarter of the fiscal ended June 30, 2002, as against a loss of Rs 9.34 crore in the corresponding period last year.
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RIL among Asias ten best credits
Mumbai: Reliance Industries Ltd is the only Indian company to find a place amongst Asias ten most credit-worthy companies in the Asset Annual Benchmark Survey of the Asias Best Credits in 2002.
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Air France awaits govt nod to start south-bound flights
New Delhi: Air France is planning to start direct flights from Chennai and Bangalore to Paris in addition to their daily services from Delhi and Mumbai, subject to government clearances.
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Zydus offer for GRL stake finds few takers
Mumbai: Zydus Cadilas ambitious plan to get its subsidiary, German Remedies de-listed has run into rough weather for now. Its open offer for acquiring GRLs remaining 44.60 per cent shareholding at a price of Rs 300 per share has met with a rather lukewarm response.
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Marico net up 16% to Rs 14crore
Mumbai: FMCG company Marico has posted a net profit of Rs 13.5 crore for the quarter ended June 30, 02 after providing for deferred taxation, up 16 per cent from Rs 11.7 crore in the same period last year.
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TCS retains top slot in software exports
Mumbai: Nasscoms annual ranking of exports of Indian software companies holds no great surprises this fiscal. Like the previous year, Tata Consultancy Services emerged countrys No. 1 software exporter in 2001-02 too with an export earning of Rs 3,882 crore.
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Torrent eyes Europe, to set up shop in Germany
Ahmedabad: Torrent Pharmaceuticals, the flagship of the Rs 2,500-crore Ahmedabad-based Torrent Group, has scripted a major international thrust as part of one of its most aggresive growth plans ever.
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Coca-Cola, Pepsi sip same growth numbers
Mumbai: This seems too much of a coincidence. Coca-Cola and Pepsi are increasingly resembling Siamese twins, if their growth figures in the carbonated soft drinks are anything to go by.
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Jyothi Laboratories scouting for private equity
Mumbai: Jyothi Laboratories, maker of fabric whitener Ujala, may induct a private equity fund as partner in an attempt to raise funds for its expansion in soaps and detergents.
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Maersk Logistics JV with Delhi-based firm
New Delhi: Maersk Logistics India, a wholly-owned subsidiary of Maersk India, has entered the Indian air freight market by forming a joint venture with Delhi-based Corcorde Cargo, an air cargo service provider.
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Bajaj dispute: may go beyond Pawar
Mumbai: It may not prove easy to find an amicable solution to the Bajaj family dispute, Mr Sharad Pawar's good offices notwithstanding. It's increasingly becoming apparent that FIs that hold a significant stake in Bajaj Auto would have to be consulted at some point of time.
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Tatas thrust to branded businesses Plans Rs 300-crore promotion
Kolkata: The Tata group will invest Rs 250-300 crore on brand development initiatives over the next five years. This follows the group's thinking that its brand-led businesses -- which fall under the realm of IT, telecommunications, tea and hotels will account for around 70 per cent of the Tata group's total turnover in the next 20 years.
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Carrier Corp stake in Indian arm tops 90 pc
Mumbai: Carrier Corporation has acquired over 90 per cent stake in its Indian subsidiary, Carrier Aircon Ltd, through an open offer. It intends to delist the Indian company following a mandatory offer which it will make before October 15, 2002 as per SEBI requirements.
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Coca-Cola breaks the ice on expensing stock options
Mumbai: The July 14 announcement by Mr Doug Draft, Chairman and Chief Executive Officer of Coca-Cola Company, that the multinational will expense the cost of all stock options it grants during and after the fourth quarter of the current financial year "to ensure that our earnings will more clearly reflect economic reality" seems to have set off a stampede among publicly-traded enterprises in the US towards conservatism in accounting practices.
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MSTC scheme to improve workers' skills
Kolkata: A new training programme to improve upon the skills of employees was launched here recently by the Metal Scrap Trading Corporation (MSTC) Chairman, Mr Malay Sengupta. The programme consists of 19 individual training modules covering internal, external, verbal, comprehension and other skills relevant for team building, team working and building employee and customer-relationships.
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Wockhardt Life completes deal for IV business sale
Mumbai: Wockhardt Life Sciences Ltd yesterday said that it has completed the financial transaction relating to the sale of its IV fluids business to Baxter India, the Indian subsidiary of the $7.7-billion Baxter International Inc.Baxter inherits Wockhardt's customer franchise, marketing and distribution of 165 people and two manufacturing units at Aurangabad and near Chennai with a combined of 100 million bottles a year
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Usha Beltron to relocate Ranchi cable unit
Kolkata: With its steel business picking up, the Usha Beltron group has finalised plans to tone down its emphasis on the cable business, while deciding to relocate its cable unit at Ranchi partly to an overseas destination and partly to its existing unit at Silvassa.
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Lafarge to build Rs 150-cr Bengal plant in two years
Kolkata: After starting off its Indian operations with two major acquisitions, French cement major Lafarge is confident of completing its first greenfield project somewhere in West Bengal in the next two years.
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Orchid to set up Chinese facility for cephalosporin Forms 50:50 joint venture
Chennai: Orchid Chemicals & Pharmaceuticals Ltd based here has joined hands with North China Pharmaceutical Corporation, Shanghai, to promote NCPC Orchid Pharmaceuticals Co Ltd, a 50:50 joint venture for manufacture and marketing of cephalosporin bulk actives and formulations in China.
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DCA allowed to probe Xerox dealings
New Delhi: The Company Law Board (CLB) has allowed the Department of Company Affairs (DCA) to initiate investigations in Xerox Modicorp Ltd to assess whether the management has been guilty of fraud, misfeasance or other  misconduct towards the company.
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BHEL to tie up with Shree Ind for water heaters
New Delhi: The Rudrapur unit of Bharat Heavy Electricals Ltd (BHEL) has appointed Shree Industries, a manufacturing house based in Faridabad (Haryana), as an authorised associate for marketing, erection and commissioning of solar water heating systems.
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TRF, Samsung join hands
Kolkata: TRF Ltd, a Tata enterprise, has signed a memorandum of understanding (MoU) with Samsung Heavy Industries of South Korea for securing technology and other support in the manufacture of container and RTG cranes used in port operations. The MoU was signed in Korea a few days ago.
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Ranbaxy's Q2 net spurts 190 pc 3:5 bonus issue announced
Mumbai: Pharma major Ranbaxy Laboratories Ltd (RLL) has posted a net profit of Rs 138.4 crore for the second quarter ended June 30, 2002. This was up 190 per cent over the previous year's net profit of Rs 47.8 crore.
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Camlin proposes 1:1 bonus; Q1 net rises 28 pc
Mumbai: The board of Camlin Ltd has proposed a bonus issue of one equity shares for every share held (1:1). The company has reported a 28 per cent increase in its net profit at Rs 3.28 crore for the first quarter ending  June 30, 2002, against a net profit of Rs 2.57 crore in the year-ago period. The board has recommended a dividend of Rs 2.5 per share for the year ended March 31, 2002.
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Zee posts 31 pc rise in Q1 net profit
Mumbai: Zee Telefilms Ltd (ZTL) has reported a 31 per cent increase in its net profit at Rs 47.67 crore for the first quarter of 2002-2003 from Rs 36.38 crore in the year-ago period. Total revenue stood at Rs 248.80 crore against Rs 233.51 crore. Advertising revenue contributed Rs 139.97 crore (Rs 137.31 crore) and subscription revenue Rs 101.59 crore (Rs 66.79 crore)
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STD rate cuts dent BSNL, VSNL revenues
New Delhi: The drastic cuts in STD tariffs in force since mid-January has had a telling impact on telecom majors Bharat Sanchar Nigam Ltd (BSNL) and Mahanagar Telephone Nigam Ltd (MTNL), with call revenues in the last quarter of fiscal 2001-02 falling by between 16 and 20 per cent compared to the preceding quarter.
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