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Bid to
remove war risk premia
Mumbai:
An
additional war risk premium has been imposed in the range of
0.025-0.05 per cent of the hull and machinery value at the ports
of Mumbai, JNPT, Kandla and Pipavav effective from June 2002.
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Jisco
may resume HR plate production
Mumbai:
Jindal
Iron and Steel Company Ltd, which is among the few steel companies
to have recorded a net profit in the current fiscal, is likely to
restart its HR plate operation in the first week of August.
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Automartindia
to tie up with Mahindra dealers
Mumbai:
Automartindia,
one of the premier players in the used car business, is in the
process of tying up with Mahindra & Mahindra dealers to
provide an exchange platform to sell the Scorpio.
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Auto
stocks go downhill on drought worries
Mumbai:
Drought-like
conditions have dampened the stock prices of the automobile
sector, with prices on auto counters dipping by as much as 13 per
cent in the last week.
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Coke
invests in rainwater harvesting
Mumbai:
As part of its social responsibility programme, Coca-Cola
India has set up a rainwater harvest project in the Capital's
Greater Kailash area. The company is planning to set up similar
projects not only in other localities of Delhi but also in other
parts of the country.
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Loewe
to make BPL original equipment supplier
Mumbai: Loewe, the German consumer electronics major, is
all set to promote its marketing partner in India - BPL Ltd - to
an original equipment manufacturer (OEM) status. Loewe will source
colour televisions and VCRs from the Indian company.
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Tata
Metaliks mulls over capacity expansion
Mumbai: Tata Metaliks is weighing the possibility of
increasing its blast furnace capacity by 10 per cent. Mr T.
Mukherjee, Chairman, told newspersons after its 12th AGM here that
capacity expansion would be effected through improved blowing and
casting.
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CVC
refers Reliance-UTI case to advisory board
New Delhi: The Central Vigilance Commission (CVC) has
forwarded the controversial case involving the 1994 private
placement of equity of Rs 1,000-crore by Reliance Industries Ltd (RIL)
with Unit Trust of India (UTI) to the Advisory Board on Banking.
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The
Big Four bash
Mumbai: IT has always been so easy to divide the
accountants - because they deal with too many divisions all the
time. Every transaction has two aspects, debit and credit. You put
money in bank or cash box.
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GMR
Vasavi to hike stake in ING-Vysya Life
Mumbai: The GMR Vasavi group is expected to increase its
stake in ING-Vysya Life Insurance Company Ltd. This follows the
ING group's purchase of GMR stake in Vysya Bank last month.
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AI
to fly high on good governance
New Delhi: The Maharaja has decided to go in for a change
of clothes. Heeding the clarion call of the Prime Minister, Mr
Atal Bihari Vajpayee, that the Indian industry should adhere to
good corporate governance, Air India plans to follow the advice in
good spirit.
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Castrol
eyeing newer marketing channels
Mumbai: The Indian lubricant market is likely to witness
some interesting developments during the next few months as
Castrol India Ltd is seriously eyeing the traditional marketing
avenue, the petrol pumps, to sell its products.
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United
Phosphorus launches new insecticide in AP
Mumbai: United Phosphorus Ltd (UPL), the Mumbai-based Rs
700-crore manufacturer of agro chemicals and industrial chemicals,
has launched its new systemic insecticide - Imida Gold - in the
Andhra Pradesh market here on Sunday.
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Birlas
may exit telecom business
Mumbai:The
Aditya Birla Group is believed to be contemplating its future in
the telecom business. The timing of the exit depends on progress
in the proposed merger between Idea Cellular and BPL Mobile.
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MNCs
lead in paying back debts
Mumbai:While
it is known that most corporates have not been eager to borrow in
recent years, what is not so well-known is that India Inc is also
paring its existing debt.
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EML
posts Q1 net profit of Rs 5.37 crore
Mumbai:
Eicher
Motors Ltd continued its turnaround performance in the first
quarter of the current fiscal, doubling its net profit to Rs 5.37
crore from the Rs 2.54 crore it clocked last Q1.
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Reliance
Life Science to buy Indian Vaccine
Mumbai:Reliance
Life Science is weighing the option of total takeover of Indian
Vaccine Corporation, a public sector entity under the department
of biotechnology.
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DCA
to prosecute Satyam on 21 counts
Mumbai:DCA
has ordered 21 prosecutions against the Rs 1,800-crore Satyam
Computer Services for a series of violations of the Companies Act.
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ONGC
plans to infuse Rs 600 crore into MRPL
Mumbai:Oil
and Natural gas Corporation plans to infuse an additional Rs 600
crore in MRPL after first buying out the AV Birla Groups 37.5
per cent equity in the company.
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Bottomlines
for India Inc improve as prices shoot
Mumbai:While
it has become increasingly difficult for India's corporate sector
to maintain topline growth in recent quarters, the picture has
been not so discouraging when it comes to the bottomline.
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LG
Electronics for bigger pie of commercial AC market
Mumbai:After
securing a lead in the residential air-conditioning market,
consumer durables major, LG Electronics India has now trained its
sights on the commercial air-conditioning segment and it is vying
for top slots.
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Samsung
puts off making broadband equipment
Mumbai:Samsung
Electronics has decided to defer its plan to manufacture broadband
equipment such as cable modems and ADSL.
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IT
majors explore JVs in new sectors
Mumbai:No
longer satisfied with plain organic expansion, Indian IT companies
have hit upon a new mantra to enter new sectors - set up a slew of
joint ventures with companies who have functional knowledge of the
area.
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