AP Ferguson withdraws critical Tata Fin report
Mumbai: Audit and consulting firm AF Ferguson on Tuesday announced it had "withdrawn" its report on the troubled Tata group company, Tata Finance (TFL). 
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Sify contracts 155 Mbps leased line from VSNL
Chennai: Satyam Infoway (Sify) and VSNL on Tuesday jointly announced the single largest contract for international bandwidth capacity placed in India. 
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Mastek zooms to London to handle traffic jams
Mumbai: Software services company Mastek has entered into an arrangement with the city planners in London to provide software that would go into developing a traffic congestion monitoring system.
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Pvt sleuths bring Usha group muck on surface
New Delhi: Private investigators seem to be able to do what the regulators have so far failed to deliver. In January, IFCI appointed a private investigator to assist it in tracking down the diversion of funds by the Usha Group of Industries, which has defaulted on payments and created non-performing assets for the financial institution.
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Tata Ryerson net profit up
New Delhi: Tata Ryerson Ltd, a joint venture between Tata Steel and Ryerson Tull of USA, on Tuesday reported significant improvement in financial performance with its net profit increasing to Rs 3.84 crore in 2001-02 from Rs 93 lakh in the previous year.
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BPCL, HPCL ban may hit ONGC plan
New Delhi: ONGC plans to become a major player in the downstream business may suffer a major setback with the disinvestment ministry planning to bar public sector companies from bidding for refining and marketing companies BPCL and HPCL.
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Its business as usual at Reliance a month after
Mumbai: A month after the death of Dhirubhai Ambani, the founder of Reliance Industries, its business as usual for the $12-billion diversified conglomerate that is Indias largest private sector company.
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George Williamson to export tea to Russia
Kolkata: At a time when tea exporters from India are proving to be a bunch of laggards George Williamson, one of the quality tea producers and with a strong European customer base has made a significant inroad in the Russian market. 
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Luxottica told to make open offer for Ray-Ban :SEBI says takeover code violated
Mumbai: Even though the Sebi statement has not prescribed the price at which the offer has to be made, stockbrokers said that it would be around Rs 105 with an additional interest of around Rs 45 per share. This means Luxottica has to pay around Rs 150 per s hare to Ray-Ban shareholders, brokers said. 
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Britannia promoters transfer stake to joint venture co
Kolkata: The shareholding pattern in Britannia Industries Ltd L) has undergone a major change with the incumbent joint promoters of the company the Nusli Wadia group and Groupe Danone of France deciding to transfer their total 45.34 stake into a joint venture company, which was recently incorporated under the name and style of "AIBH". 
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Drought likely to hit tax collections
New Delhi: The Finance Ministry apprehends that the buoyancy in tax collections during the first quarter may not be sustained in the coming months. The country's worst ever drought in 15 years is likely to impact revenues, particularly in the second half of current ficsal year. 
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Investigation of claims : Surveyors want insurers to stop hiring private sleuths
New Delhi: A new tussle is set to erupt in the insurance industry, with surveyors and loss assessors deciding to pressure the Insurance Regulatory and Development Authority (IRDA) to bring to an end to the practice of insurance companies hiring the services of the private sleuths.
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VSNL unsure of WorldCom dues
Mumbai: VSNL yesterday said there could be no assurance that it will be able to collect its WorldCom receivables or that it will not be adversely affected by WorldCom's financial difficulties. V
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Mitsubishi chems arm plans to hike capacity at Haldia PTA plant 
Kolkata: MCC PTA India Corp Pvt Ltd, a subsidiary of $16-billion Mitsubishi Chemical Corp, Japan, will expand the capacity of its purified terephthalic acid plant at Haldia in West Bengal by 20 per cent with a $2 million investment. 
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Britannia plans new products launch to improve sales 
Kolkata: Britannia Industries Ltd on Tuesday announced a three-pronged strategy to maintain volumes and market share and to improve sales. 
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Tatas mull lowering retirement age of non-executive directors
Mumbai: The Tatas are considering a proposal to lower the retirement age of non-executive directors on the boards of group companies to 70 years. 
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Petrol variant of Scorpio to be launched this month
Mumbai: Mahindra & Mahindra whose Scorpio rolled into the market last month is all set to launch a petrol version of the SUV with engines imported from Renault of France. 
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NTC to offer VRS for Shengottah unit
Chennai: NTC has spent nearly Rs 40 crore towards workmen's compensation offered under the VRS programme in Tamil Nadu, for the past one year and nearly 2000 workers had opted for VRS. 
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Lenders not to hold more than 25% in MRPL
New Delhi: The lenders who have exposure to Mangalore Refineries and Petrochemicals Ltd (MRPL) will not hold more than 25 per cent of the equity capital of the company, post-restructuring. 
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ONGC to produce petrol at Uran
New Delhi: UpstreaM oil giant Oil and Natural Gas Corporation Ltd has plans to produce transport fuels. The company plans to set up a petrol production unit at Uran.
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Alliance with Scottish & Newcastle, UB ready to revive Castle Breweries
Mumbai: The UB group is close to reviving Castle Breweries Ltd in West Bengal. The brewery is likely to become part of UB's proposed joint venture with the UK brewer, Scottish & Newcastle Plc. 
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HarperCollins teams up with India Today for publishing, distribution
New Delhi: Harpercollins Publishers has established a new book publishing partnership with the India Today Group. 
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BHEL unit gets OHS tag
Bangalore: BHEL's Electroporcelains division has become the first insulator unit to receive the OHSAS-18001 certification for its occupational health and safety management system. The PSU's Bhopal and Tiruchi units have already received OHSAS-18001 certification..
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Keonics aims for 20 pc revenue growth
Bangalore: Karnataka State Electronics Development Corporation Ltd (Keonics) is planning to achieve 20 per cent growth in revenues from its commercial activities, up from Rs 10 crore in 2001-02. 
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SKF Bearings to focus on aftermarket segment
Mumbai: SKF Bearings India Ltd plans to focus more on the aftermarket operations. Currently, aftermarket operations account for 40 per cent of its turnover and the original equipment sales the balance. 
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BG pins hopes on NTPC contract
New Delhi: British Gas India is pinning its hopes on the three million-tonne LNG supply contract of National Thermal Power Corporation (NTPC) to start its Indian LNG business and to go ahead with its Pipavav terminal project in Gujarat. 
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SAIL's marketing wing posts 30% growth in sales
Mumbai: The Central Marketing Organisation (CMO) of Steel Authority of India Ltd (SAIL) has achieved a 30 per cent growth in sales, during the April-July period of the current fiscal, over that of the same period the previous fiscal.
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