Mgmt takeover will take time: experts
New Delhi: The spectre being raised by the industry about summary change of management by dint of applying the securitisation ordinance may remain a dim shadow for some time yet.
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DRL promoters stake down to 26 per cent
Hyderabad: Promoters stake in Dr Reddys Laboratories has gone down from 31.5 per cent to 26 per cent primarily due to issue of American Depository Shares and fresh investments by foreign institutional investors during the year ended March 31.
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Sony India to make existing audio range MP3-compatible
New Delhi: Sony India Pvt Ltd, the wholly-owned subsidiary of Sony Corp of Japan, is gearing up to displace Philips India Ltd, as the leader in the audio segment in India.
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Ban on FDI in retailing sector: Samsung arm seeks clarification
New Delhi: As foreign direct investment in retail sector hangs fire, Samsung Electronics India Information and Telecommunications has sought a clarification from the government whether it can import and supply electronic goods to distributors, wholesalers and retailers on normal trade terms.
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Navy commissions Kirloskar engines
Mumbai: Kirloskar Engines has been commissioned by the Indian Navy to conduct a feasibility study for the modifications needed in propulsion package for select vessels.
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Govt pops up more FDI in insurance
New Delhi: It's time for some policy window-dressing. After delivering a virtual knockout blow to the disinvestment process yesterday, the government is now frantically looking for options to offset its negative impact on international investors and the markets.
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Delhi's collection taxes Mumbai
New Delhi: Financial capital Mumbai is losing out to national capital Delhi in direct tax collections despite a hefty growth in revenue generation during the first quarter of the current financial year.
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Telco to design new trucks for core sector businesses
New Delhi: As part of a new solutions-driven product development strategy, Telco is focusing on industry-specific transportation solutions particularly in the core sector.
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Indian Drugs staff get three months to decide on VRS
New Delhi: The Central government has served an ultimatum to the over 6,500 employees of the terminally sick Indian Drugs & Pharmaceuticals that they accept within three months the VRS offer that was part of the Rs 1,400 crore package for the company cl-eared by the cabinet earlier this year, or face retrenchment.
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Essar arm scouts for US steel units
Mumbai: PT ESSAR Dhananjaya, Essar group's Indonesian subsidiary in, is scouting around in the US market to acquire a small to medium capacity cold-rolled steel plant.
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Govt may sell part of Nalco via GDR issue
New Delhi: The Central government may sell a portion of its stake in aluminium major Nalco through a Global Depository Receipts issue if current plans for an ADR issue fail to materialise.
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Norway firm scours media, telecom for opportunity
Mumbai: The Norwegian government-owned $4.5-billion telecom major Telenor is busy sniffing out emerging opportunities in Indian telecom and media space.
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BSNL not to subsidise cell tariffs
New Delhi: Bharat Sanchar Nigam will not cross-subsidise its cellular mobile services with its fixed line telephone services and would have separate accounting for the two services.
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S&N to bring in JV money in a week, says Mallya
Mumbai: Vijay Mallya, chairman of United Breweries, said money expected from the proposed joint venture with Scottish & Newcastle will come through after a week.
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Way to Edge ahead is to stay slim for Titan
Bangalore: Titan's technical prowess `Edge', the `world's slimmest watch', has been well received both in the national and international markets. "Ever since the product was launched four months ago, we have been struggling to keep up with the demand.
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Samtel to exit monitor business
New Delhi: To cope with the ever growing demand for advanced colour picture tubes (CPT), the Rs 1,100-crore Samtel Group, is all set to focus on its core areas and exit from other businesses.
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Audit firm qualifies Apollo Tyres accounts
New Delhi: The statutory auditor of the Rs 1,710-crore Apollo Tyres has qualified the financial statements of the company for the year ended March 31,2002 over the accounting treatment adopted in writing off advances amounting to Rs 32.70 crore.
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Avon Organics plans debt recast
Hyderabad: Buoyed by improved performance both in the top and bottom lines during last fiscal, Avon Organics Ltd(AOL), the Hyderabad-based Rs 79-crore pharmaceutical company, has initiated various steps towards consolidating its position in the market segments of pseudoephedrine and diketene derivatives.
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Dunlop India to resume works at Chennai unit
Chennai: Dunlop India Ltd is set to recommence operations at its Ambattur production facility located in the western industrial suburb of Chennai, according to reliable sources.
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Toyota plans to sell 36,000 Qualis next year
Bangalore: Toyota Kirloskar Motor Ltd (TKML) plans to sell 36,000 units of Qualis in the calendar year 2003.
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High power cost forcing cos to shut down in Karnataka
Bangalore: The survey has also brought out certain discrepancies in the figures for increase in HT consumers. This is because the number of installations does not imply that all the 2,865 consumers are actually drawing power.
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Advertisers tune into FM radio
Mumbai: It's cheap and effective. The opening up of the airwaves to private operators has led to new advertisers such as newspapers and periodicals, financial companies and even companies on recruitment drive using the medium.
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Channel war over 9/11 hots up
Mumbai: It's an opportunity news channels - both desi and foreign - don't want to miss. Television channels are gearing up to cover the first year commemoration of those who died when the Al-Qaeda struck the twin towers of the World Trade Centre.
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Room for comfort?
Mumbai: Indian Hotels has decided to acquire a 19.9-per cent stake in Lokhandwala Hotels Pvt Ltd (LHL) for a consideration of Rs 15 crore. LHL owns the Regent Hotel in Bandra, Mumbai.
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