Tatas to sell 25% in St James hotel
New Delhi: After selling its stake in Lexington Plaza Hotel in New York, Indian Hotels, promoter of the Taj Group, is looking at divesting around 25 per cent stake in Crowne Plaza St James, London.
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PwC India readies for new life
New Delhi: The brand name that never will be. Just as PricewaterhouseCoopers India was gearing up internally for life after Monday, which was supposed to be the new name of PwC Consulting, IBM chose to make its dramatic move.
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RIL may buy Nocil's petrochem biz
Mumbai: National Organic Chemicals, the troubled Mafatlal Group company, is in talks with Reliance Industries for selling off its petrochemical business.
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Reliance Q1 net up 16.5%
Mumbai: Reliance Industries Ltd has reported a 16.5 per cent jump in net profits to Rs 720 crore for the first quarter ended June 30, 2002. For the corresponding period of the previous year, it had made a net profit of Rs 618 crore.
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Tata Chem net up 158 pc in Q1
Kolkata: Higher revenues and operational efficiencies helped Tata Chemicals Ltd drive its net profit up by 158 per cent to Rs 34.01 crore for the first quarter ended June 30, 2002 compared to Rs 13.19 crore during the corresponding quarter in the year-ago period.
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`PwC-IBM deal to include India operations too'
New Delhi: More than 1,000 professionals under the consulting practices of PricewaterhouseCoopers Ltd in India are likely to come under the fold of IBM if the latter's global acquisition of PwC Consulting gets concluded.
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Farm Insurance Corpn to be operational shortly
New Delhi: The proposed National Agriculture Insurance Corporation, to be incorporated shortly, will be operational in about two months.
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Bombay Dyeing picks up 51% stake in Proline
Mumbai: The Wadia Group flagship Bombay Dyeing is picking up a 51 per cent stake in the Mumbai-based garment company Proline India. Bombay Dyeing will hive off its apparel business and merge it with Proline India.
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Maersk wants GPPL share price lowered
Mumbai: Maersk Sealand, the world's largest container shipping line, has demanded a reduction in share price for picking up an additional 13% stake in Gujarat Pipavav Port , India's first private sector port.
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LG to rope in Indian celebrities
Mumbai: The Koreans are angling for an Indian face! And a celebrity one. Come August, LG Electronics India Limited will run the first-ever campaign with a celebrity endorsement.
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ABB plans to shore up contributions from products & services
Mumbai: In line with its strategy to focus on high margin business, Asea Brown Boveri has increased the share of products and services to 27% in the first six months of 2002, up from 22% in the year-ago period.
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Teva scouting for bulk drug units in India
New Delhi: Teva, the $2 billion Israeli off-patent drugmaker, is looking to acquire Indian bulk drug manufacturing units that meet international regulatory standards.
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SAIL cuts losses to Rs 309 cr in Q1
Mumbai: Riding on the global recovery in the steel sector, Steel Authority of India has cut losses to Rs 309 crore in the first quarter of 2002-03 from Rs 376 crore loss recorded in the corresponding period of last year.
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PowerGrid mops up Rs 1,060 crore via bonds
Kolkata: Power Grid Corporation of India Ltd, in one of the biggest single issues of private placement of bonds during the first half of this calender year, has raised Rs 1,060 crore from the domestic market.
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Probe into gas leak at RPG Life plant
Pune: The Director of Industries, Safety and Health has been appointed to investigate the gas leak at the RPG Life Sciences plant at Pimpri on Tuesday morning.
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SPIC in talks for cross-packaging tie-up
Chennai: Souhtern Petrochemical Industries Corporation (SPIC) is talking to "two/ three (fertiliser) companies" to hammer out a tie-up, under which each company would sell fertilisers under the other (partner) company's brand name.
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SWC regd office transfer yet to be cleared
Kolkata: The management of Shaw Wallace & Company Ltd (SWC) may have to hold at least one more annual general meeting of the company here in view of the fact that the Company Law Board (CLB) is yet to clear the company's request to allow it to shift SWC's registered office.
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ICT completes road project in Ethiopia
Mumbai: Intercontinental Consultants and Technocrats Pvt. Ltd (ICT), an engineering consultancy company, has completed a 136-kilometre IDA-aided road project in the strife-torn tribal area of Ethiopia.
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Repayment defaults: DCA notifies application fees
New Delhi: The Department of Company Affairs (DCA) has specified the fee that would be payable by companies for making applications to the Company Law Board (CLB) for intimation on defaults in repayment of small deposits.
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Crabtree tie-up for bath fittings
Bangalore: Switchgear company Crabtree India Ltd, a subsidiary of the Havell Group, has tied up with Italian bath fitting company, Fratelli Frattini, to launch the Crabtree Frattini range of bath fittings in India.
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Berger hopes to paint a good picture
Kolkata: Berger Paints India Ltd hopes to post a higher growth in the current financial year than the seven per cent achieved in 2001-02 when there were three rounds of price reductions.
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LG still upbeat on washing machines : To invest $10 m more
Mumbai: LG has also increased its advertising budget while launching a slew of new models and taken steps to increase its penetration.
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Texmaco bullish on prospects
Mumbai: Texmaco Ltd, a K.K. Birla group outfit, is expecting that its hydro-mechanical equipment and structural business will provide around 50 per cent of its turnover during 2002-2003.
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Zensar sets up office in Mexico
New Delhi: The company's growth plans include alliances and joint ventures. It recently set up a joint venture in China called Hanzen in Shanghai, and a small development centre in Zhuhai.
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