Mahajan moots merger of BSNL-MTNL 
New Delhi: The government is considering merging BSNL and MTNL prior to any proposal of disinvestment in either of the state-run telecom giants, communications and information technology minister Pramod Mahajan has said. 
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Intel Corp foresees IT potential in India 
Hyderabad: The worlds largest chip maker Intel Corporation is bullish on India. The company sees India will emerge as a superpower in the information technology in the years to come. 
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BPCL Not Averse To Merging KRL 
New Delhi: The government-owned Bharat Petroleum Corp Ltd, which is now in the disinvestment list, is not averse to merging its subsidiary Kochin Refineries Ltd with itself. 
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SSI Profit Plunges 82.5% In 01-02 
Chennai: SSI Ltd has reported a 82.53 per cent decline in net profit to Rs 9.75 crore for the financial year ended June 2002, as against a profit of Rs 55.81 crore during the corresponding period last year. 
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LIC arm buys Citi's home loan portfolio
Mumbai: LIC Housing Finance the housing finance arm of the Life Insurance Corporation has acquired Citibank's home loan portfolio of over Rs 200 crore.
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Oberois go shopping to hike EIH stake
Mumbai: The Oberois of EIH will increase their holdings in the company through the creeping acquisition route, in the coming months.
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Bidding norms for export cos eased
An exporter company, resident in India, can now give guarantee in lieu of Bid Bond guarantee for bidding for a contract outside India. 
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SAP Labs to invest 20 m euros
Bangalore: SAP Labs India is investing 20 million euros in its upcoming software development campus in Bangalore and plans to hire 250 engineers by end-2003.
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TD Power ships generator to Japan
Mumbai: TD Power Systems Pvt Ltd (TDPS), which manufactures generators for diesel and steam turbine power plants under licence from Toya Denki of Japan, has shipped a 35,000 KW AC generator to its parent company in Japan. 
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L&T completes Rs 450-cr project for IOC Barauni
Mumbai: Larsen & Toubro Ltd has built a large hydrogen unit and refinery offsites and utilities project at Barauni in Bihar for Indian Oil Corporation. This project has increased capacity at the Barauni refinery to 6 million tonnes per year from 4.2 million.
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Coal India board approves plan for tie-up with ONGC
Kolkata: The participating interest of Coal India in the collaborative development of CBM will be up to 26 per cent of the total job in the four basic stages of coal bed methane development. More 
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Ion Exchange sets up water station in Bengal
Kolkata: After successfully introducing the state-of-art zero-B water stations in Rajasthan, Ion Exchange (India) Ltd has installed its first such unit in West Bengal. From here the company will soon move to the Uttar Pradesh market. 
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Ingersoll-Rand working on Golden Quadrangle plans
Hyderabad: The resource centre would help the emerging subcontractor community to migrate to the road sector by exposing them to the various processes in the layers of road building. 
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AIMIL Pharma bets on South foray for growth
Bangalore: Ayurvedic medicine and herbal preparations company, AIMIL Pharmaceuticals (I) Ltd, is optimistic that its foray into the southern market would help it clock a sales of an estimated Rs 50 crore this fiscal. 
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Volvo gets ready for national ride
Bangalore: Volvo India's bus division, which has been largely concentrating on Bangalore and the South, is now readying itself to drive on to the rest of India. The Swedish major has till date sold 51 B7R luxury buses since inception in November 2001. 
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Camlin to focus on exports, R&D
Mumbai: Camlin Ltd has said it will put more effort into increasing exports and focus on research and development, in a bid to maintain growth. 
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Indian Hotels plans 'budget' entry
Mumbai: Indian Hotels, which manages the Taj group of Hotels, has outlined plans to make a major foray into the budget-hotel segment. 
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Promoters hold 67% in Sterlite, post buyback
New Delhi: Following the completion of the buyback programme, promoter stake in Sterlite Industries will go up to 67%. Earlier, the promoters had 43 per cent of the total equity. Their holding went up when 36 per cent of the equity was cancelled through the buyback scheme. Sterlite has spent Rs 301 crore on the buyback. 
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Bajaj Electric recasts ops into 5 SBUs
Mumbai: The Rs 417-crore Bajaj Electricals has reorganised its business operations into five strategic business units. Each unit will function as a `cost centre and `profit centre. The company is also planning to have a mix of outsourced and self-manufactured products to leverage brand strength. 
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Marico to cut exposure in Saffola, focus on non-oil health food
Mumbai: Marico Industries has chalked out plans to reduce dependence on popular edible oil brands Saffola and Sweekar by launching non-oil food products. Senior Marico executives told The Economic Times that plans were afoot to test market and launch non-oil health foods in the first quarter of 03. 
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Kennametal buys 26% to take Widia stake to 77%
New Delhi: US-based machine tool major Kennametal is the new owner of Widia India. Milacron, the original owner of Widia India, which has been acquired by Kennametal globally, announced the acquisition of the remaining 26% stake in Widia India held by the Indian promoter, SAK Industries, for Rs 40 crore ($8 million). 
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Thyssen to hike Otto stake to 95%
New Delhi: ThyssenKrupp EnCoke (TKEC), a German engineering company which specialises in turnkey plants in steel and environment protection industries, plans to increase its stake in its Indian affiliate, Otto India, from the existing 86 per cent to 95 per cent. 
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Ashok Leyland dumps bonds in favour of CP
Chennai: As part of a financial restructuring process, commercial vehicle maker Ashok Leyland is working on a two-pronged strategy to bring down its borrowing costs. The strategy involves looking for better rates by moving away from debentures and bonds on the one hand, and opting for commercial paper and short-term borrowing, for both working capital and term loan requirements on the other. 
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Air-India yet to use Heathrow landing slot
New Delhi: In what is turning out to be a major embarassment of sorts for civil aviation minister Shahnawaz Hussain, national carrier Air-India (A-I) has not been able to use the much-contested landing slot bagged from the Heathrow airport authorities for an additional flight to London. 
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Essel Propack on the prowl, looks for cos in India, Europe, China
Mumbai: The Rs 500-crore laminated tubes major Essel Propack is on the prowl again. After stitching a merger with the Switzerland-based Propack last year, the company is looking at acquisitions again. 
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CSC to set up its 3rd software centre in Noida
New Delhi: The $12-billion Computer Sciences Corporation (CSC), one the largest IT services companies globally, is setting up its third software development centre in Noida, with a capacity of 400 engineers. 
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