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Tatas launch two microsites
The Tata Group has launched two microsites, www.tatamastercraft.com
and www.tatatkk.com,
that showcase the strides Indias best-known business
conglomerate is taking on the path to technological innovation
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M&M Opts for more internal mergers to consolidate business
Mumbai: Mahindra & Mahindra will continue to merge subsidiaries in a bid to
have a consolidated structure.
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Hyundai rolls out Accent Variant at Rs 6.8 lakh
Bangalore: Hyundai Motor India Ltd has launched Viva, a sporty 1599 cc,
semi-notchback version of its mid-size car Accent priced at Rs 6.80
lakh.
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Mumbai NTC Mill land best suited for realty development
New Delhi: The governments decision to release National Textile Corporation
mill land in Mumbai would see a huge residential stock being released once
the land is developed.
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Maharashtra wants Dabhol buyer to refund MSEB arms investment
Mumbai: The Maharashtra govt is all set to appeal to the
Centre that the new buyer of the distressed Dabhol power project should refund the investment of
Rs 900 crore made by the MPDCL, an arm of the ailing MSEB while picking up
a 30% stake in the now fallen DPC.
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India set to become IT testing hub
Mumbai: India is fast emerging as the testing ground for high-end software
applications. In the years to come, the segment will far exceed the growth
rate of infotech sector itself, observers feel.
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Modis will lose tyre plant for nothing
New Delhi: Apollo Tyre's proposed buyout of the Modi Rubber plant will not
involve any cash payment to the Modi brothers, BK and VK.
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GE-Wipro JV understates loss by Rs 38 cr
Mumbai: General Electric has been going blue in its face saying that its
accounting practices are above board and that stellar numbers it posts
quarter on quarter are based on intrinsic business strengths rather than on
accounting skills.
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Tisco plan for Nalco hits roadblock
Mumbai: Tata Iron & Steel Company (Tisco) plans to participate in National
Aluminium Company (Nalco) divestment has hit a roadblock.
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Tulip pumps in Rs 60 cr to give Centaur a new look
Mumbai: Tulip Star, which has recently acquired Hotel Corps Centaur Hotel
in Juhu Mumbai for Rs 153 crore, is investing an additional Rs 50-60 crore
with the intention of giving the property a new look.
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AV Birla firms to outsource IT needs from PSI
Mumbai: The Aditya Birla group has decided to strengthen its software arm,
PSI Data Systems, by encouraging group companies to outsource their major
information technology requirements from it.
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ONGC buys 10% in US gas exploration project
New Delhi: ONGC Videsh's wholly-owned Houston-based subsidiary Sakhalin
India (SIL) has acquired 10 per cent participating interest in an offshore
gas exploration block in Louisiana, USA.
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Hyundai readies for Getz, set & go
Bangalore: Hyundai Motor India the second largest passenger car manufacturer
in the country, will soon take a decision on launching -Getz, a volume car
to be positioned in the Super B segment (Rs 4-5 lakh price tag). Intended
to take on the likes of Fiat Palio and Indica, HMI is currently working on
the cost factor and the indigenisation level for the new model.
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Wipro lowers net profit for Q1 by Rs 18.6 cr
Bangalore: Software major Wipro on Friday announced it has lowered its net
profit from continuing operations for the quarter ended June 30, 2002 by Rs
18.6 crore following revised information received from a minor affiliate.
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Coke to shed 49 pc in Indian subsidiary - Major
share to pvt investors, business partners
New Delhi: The Coca-Cola Company's Indian arm,
Hindustan Coca-Cola Holdings Private Ltd. (HCCH), yesterday announced that it would divest 49 per cent of
its equity in its wholly-owned subsidiary - Hindustan Coca-Cola Beverages
Private Ltd.
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ITC, Agro Tech settle Mantralayam row
Kolkata: ITC would take back the Mantralayam facility, which had been
licensed to ATFL since September 1996 and ATFL would, over a five-year
period from August 2002 to June 2007, make annual payments to ITC amounting
to a total of Rs 43 crore.
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Omnex launches Kerala operations
Thiruvanathapuram: Omnex Inc, a global quality consulting, training and
software firm, has announced its Kerala operations through a joint venture
with the Kochi-based GVK Consultants.
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L&T Info sets up IBM centre
Chennai: Larsen and Toubro Infotech has zeroed in on its Chennai facility as
the chosen "Centre of Excellence" in IBM Mainframe related services,
according to a company press release.
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Spice, Navinmail tie up for voice messaging
Bangalore: Spice Telecom has tied up with Sabeer Bhatia-promoted Navinmail
to offer its users in Karnataka new voice-based services over the next few
weeks.
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Maruti hopes to ride piggy-back on price cuts
New Delhi: Despite the sluggishness in the automobile industry, Maruti Udyog
Ltd is optimistic about registering a positive growth in overall car sales
riding piggyback on the 800 cc and its variants driven by attractive
pricing.
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M&M in talks for exports, partnerships abroad
Mumbai: Mahindra & Mahindra is looking at tapping export
opportunities for its recently-launched vehicle, Scorpio. Exports could also lead to strategic
alliances with automobile manufacturers in other nations.
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