Petronet India seeks nod to use Indian Oil pipeline 
New Delhi: Petronet India Ltd has approached Indian Oil Corporation to allow them to use the latters petroleum products pipeline from Siddhpur to Jaipur as this would save PIL from constructing a 700 km pipeline which would cost Rs 650 crore. 
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Cable operators warned of legal action over skipping DD channels 
New Delhi: Prasar Bharati has threatened to take legal action against cable operators who are violating the law by not carrying the three Doordarshan channels on prime band. 
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Input costs may force MUL to backtrack on price cuts 
New Delhi: Auto major Maruti Udyog Ltd has hinted at a rethink on recent price cuts announced on base models by end-October, despite the fact that the company has reported a 30 per cent jump in sales. 
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No plans to merge IBP, says Indian Oil chairman 
Kolkata: Indian Oil Corporation chairman Ramachandran on Wednesday ruled out the possibility of merging its Kolkata-based subsidiary IBP Co Ltd with itself. 
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IOC gets Sri Lanka govt nod to set up terminal 
Kolkata: Indian Oil Corp, Indias lone Fortune 500 company, has received clearance from the Sri Lankan government for investment in the country for setting up a terminal for petroleum and petroleum products and retailing infrastructure. 
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Indian Hotels to cut group companies
New Delhi: Indian Hotels, the promoters of the Taj Group of hotels, is doing financial restructuring exercise under which the number of companies in the group will be reduced from 54 to 30. 
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Govt offers tax sops to fire up Dabhol
Mumbai: The proposed package to get phase-I of the Dabhol plant up and running again includes major sops like a total waiver of excise on naphtha, exemption of sales tax on the fuel (naphtha in this case) and a significant drop in interest rates to 11.5 per cent.
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UTI buys over 3 lakh ITC shares
Mumbai: Fund managers of the Monthly Income Plan (MIP) 97 III scheme floated by the Unit Trust of India, had picked up 3,97,319 shares of ITC in June 2002. 
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Job shop shuts out 55,000 engineers
Mumbai: The tides of fortune couldnt have turned faster for this bunch of professionals. Till last year, engineers were the toast of the infotech boom. This year, a large chunk of fresh engineering graduates may still be without jobs as many technology companies themselves struggle to stay afloat. 
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HM hopes to get Rs 200 cr more via GM, Ford link
Kolkata: Hindustan Motors hopes to earn an additional revenue of around Rs 200 crore by 2003-'04 and 2004-'05 through its tie-up with General Motors India and Ford India for supply of engines and transmissions. The company is also considering restructuring its loans.
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Kawasaki moves to economy segment to woo customers
Mumbai: Bajaj Auto's whopping discount of Rs 3,500 for Kawasaki Caliber has changed the positioning of the bike at one stroke. This may be a temporary strategy but the outcome is expected to be extremely significant.
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Volvo to use Indian operations as hub for outsourcing
Mumbai: Swedish truckmaker Volvo will use its Indian operations as the hub for a range of sourcing activities both in automotives as well as information technology. 
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IOC open to picking up stake in Haldia, but with riders
Kolkata: Indian Oil Corporation may be willing to may a fresh offer to pick up stake in the ailing Haldia Petrochemicals but only on a condition that it is the single largest shareholder in the petrochemical company.
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Strategic investor grabs 3.5% in IVRCL
Mumbai: The promotors of IVRCL Infrastructure and Projects, have formally split. But this has triggered a massive buying interest from a Mumbai-based strategic investor who has grabbed about 3.5 per cent of the company's paid up equity.
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CMS in talks with partners to sell stake
New Delhi: Cash-strapped CMS Energy is in talks with two Indian partner groups GVK and GMR-Vasavi to sell equity in two power projects. Sources said the US energy major would raise around $80 million from the equity sale.
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Jet pips IA & Air Sahara for A-Is hub spoke deal
Mumbai: Jet Airways is set to kill two birds with one stone. It is getting a toe-hold in the domestic air charter business courtesy Air India (A-I) and also optimising the utilisation of its expensive new generation aircraft.
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Thomas Cook (India) to buy hotels in Goa
Mumbai: Thomas Cook (India) is planning to diversify from its foreign exchange and travel service business to acquire hotel properties in Goa. 
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Bombay Dyeing to consider buyback
Mumbai: The board of Bombay Dyeing & Manufacturing Company Ltd will consider a proposal for buyback of shares. 
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Corporates may have to pay higher renewal premiums
Faced with a further hardening of reinsurance markets, domestic corporates may have to fork out higher premiums during the year on policies coming up for renewal. 
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Tata Tele seeks nod to buy 31 pc Hughes Tele stake
Mumbai: Tata Teleservices Ltd has moved the Foreign Investment Promotion Board (FIPB) seeking permission for acquiring 44,08,24,709 equity shares of face value of Rs 10 each of Hughes Tele.com India Ltd (HTIL) accounting for 31.37 per cent stake in the company.
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`Tata reputation will stand the test of time'
Mumbai: Despite being in the news for all the wrong reasons, the Tata group is confident that it is just a minor aberration, which would have no impact on its brand image and its reputation. 
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SAIL plans sponge iron unit for captive use
Kolkata: Steel Authority of India Ltd (SAIL) will be setting up a coal-based sponge iron unit for captive use at Bolani in Orissa where the company has iron ore mines. 
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SAP signs Rs 95-cr deal with ONGC
New Delhi: SAP AG has announced that it has signed the largest-ever deal in India with Oil and Natural Gas Corporation Ltd (ONGC) for implementation of the ICE (Information Consolidation for Efficiency) Project. 
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Rockwell to host OEM meet in Hyderabad
New Delhi: RocwellL Automation India, the subsidiary of the US-based Rockwell Automation, a global provider of industrial automation solutions listed on the New York Stock Exchange, is organising a National OEM meet at Hyderabad on August 27, 2002. 
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Shakti LPG turns sick - Net worth wiped out
Reflecting the ill fortunes of private players in the Indian liquefied petroleum gas (LPG) industry, the country's largest private LPG company Shri Shakti LPG Ltd, has suffered a major setback with complete erosion of its net worth by the end of by the end of last fiscal year. 
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Siyaram to focus on creating new finishes
Mumbai: Despite the slowdown in the textile sector, the Mumbai-based Siyaram Silk Mills Ltd expects a 25-30 per cent growth in sales in the next six months. The company, which recently appointed the tennis star Boris Becker as the brand Ambassador for its fabric.
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HM hopes to post Rs 200-cr revenue from sale of engines
Kolkata: Hindustan Motors Ltd is hopeful of generating a revenue of between Rs 150 crore and Rs 200 crore from the manufacture of engines and transmissions for Ford India and General Motors India between 2003 and 2005.
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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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