Car majors turn to India for low-cost sourcing base 
New Delhi: Foreign car majors are gradually looking at India as a major low-cost sourcing base. Ford Motor, Hyundai, Toyota and Suzuki, which all have manufacturing bases in India, are looking at component exports to generate a major portion of their revenue. And the figures are substantitive, to say the least. 
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P&G plans strategy to boost topline growth  
Mumbai: Procter & Gamble Hygiene and Health Care Ltd is chalking out a strategy aimed at enhancing its topline growth. 
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Volvo India sets up new channel for used trucks 
New Delhi: Volvo India, the fully owned subsidiary of the Sweedish commercial vehicle major Volvo, has set up a seperate channel to market second-hand trucks in India, which would be supported and serviced by the company itself. 
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Ashok Leyland turnover up 5.6% in Aug  
Chennai: Ashok Leyland Ltd has reported a 5.56 per cent increase in sales to 2,618 vehicles during August, as against 2,480 units during the same month last year. 
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Sahara gives new logo for indian cricket team to avoid conflict 
New Delhi: Indian cricket team will wear a new logo during the Champions Trophy beginning in Sri Lanka from Thursday and may be, even during the World Cup in South Africa next year though the sponsor will remain the same. 
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Match rivals' ISD rates, BSNL to VSNL
New Delhi: There's a new twist to the international long-distance interconnection tangle between Bharat Sanchar Nigam and the Tata-controlled VSNL.
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ONGC's on top of ET 500 charts
Mumbai: India's most profitable company has finally made it to the top of the ET 500. ONGC occupies pride of place at the top of the latest ET 500, ahead of a more regular occupant Hindustan Lever. The only other company to occupy the throne in recent times Wipro is at number three. 
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Palio slips in monsoon, sees a diesel saviour
New Delhi: Fiat India's cash cow, the Palio, seems to have run into a difficult terrain. Sales of the Palio have dropped since the last few months, from a high of 3,985 in April '02 to 2,825 units in July and 2,106 units in August. 
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Sahara pitches for banking
New Delhi: Having been denied in the past, the Sahara group has made a fresh pitch before the Reserve Bank of India to step into banking. 
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Ozone to merge its pharma biz
New Delhi: Ozone Ayurveda, makers of No Marks cream, is planning to merge the groups pharma business with itself. The merged entity will go for listing on the bourses 2003 end.
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Mon Ami may write JV with Today's Writing
New Delhi: Mon Ami, the $184-million Korean stationery major specialising in writing products is planning to enter the Rs 1,500-crore Indian market through a tie up with local pen producer Today's Writing Products Ltd, a Rs 77-crore company producing pens for mass market in India.
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Mauritius firm to buy minority stake in UTV
Mumbai: Mauritius-based Century Direct Fund LLC, is acquiring a minority stake in Ronnie Screwala promoted UTV Software Communications Limited. 
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Max India may increase stake in HealthScribe
Mumbai: Max India is considering increasing its stake in the medical transcription company HealthScribe India. The group currently has a 71.4% stake in the company.
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Kinetic to raise share of Chinese parts to 20%
Pune: Kinetic Engineering, the Pune-based motorcycle and moped manufacturer, imports about 2 per cent of its castings and forgings from China due to the cost benefits.
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Barista crosses Palk Strait to serve coffee in Sri Lanka
New Delhi: Barista Coffee Company has entered into a joint venture agreement with the Jewelex Trading Limited of Sri Lanka to extend the coffee bar culture beyond the Indian shores. Barista will hold majority stake in the new company christened Barista Coffee Lanka Pvt Ltd.
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Crescendo tunes in to music hardware
Mumbai: Crescendo Music, which recently parted ways with international media giant BMG after the latter withdrew from India, has diversified into marketing music and electronic hardware under the Crescendo brand name. 
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PSL Holdings to acquire tech for under-water construction
Mumbai: PSL Holdings Ltd, currently consolidating its capacity expansion, is in the process of acquiring technology for under-water construction, a top official of the company has said. 
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BPL hikes stake in group cos
Bangalore: BPL Ltd, the flagship of the Rs 3,500-crore BPL group, is consolidating its hold on subsidiary companies. It has hiked stake in BPL Display Devices Ltd (BDDL) and BPL Soft Energy Systems Ltd. 
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ICWAI central council may have addl Govt nominee
New Delhi: The Department of Company Affairs (DCA) is contemplating a change in the Central Council of The Institute of Cost and Works Accountants of India (ICWAI) so as to increase the number of its official nominees in the council. 
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Electrolux likely to cut rights issue offer size - Board to meet on Sept 17
New Delhi: The board of the white goods major, Electrolux Kelvinator Ltd (EKL), will meet on September 17 to consider and accept the one-time voluntary and discretionary revenue grant of Rs 50 crore to be made by its parent, AB Electrolux, Sweden, to meet part of EKL's significant revenue expenditure and improve its current liquidity position. 
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New Holland to target mid-HP tractor range - To launch new products
New Delhi: Keeping in view the current trends in the Indian tractor market, the multinational tractor manufacturer, New Holland Tractors (India), is increasing its focus on the mid-horsepower (30-40 HP) segment. 
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SAIL hopes to reduce operating loss by 70%
Kolkata: The Steel Authority of India Ltd (SAIL) is hopeful of closing the current fiscal with a 70 per cent reduction in its operating losses, according to V. S. Jain, SAIL's Director Finance. 
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McDowell to seek shareholder approval for overseas foray
Kolkata: Spirits major McDowell & Co Ltd, an UB group company, will seek shareholder's approval for investments in new companies, or existing companies, incorporated in Scotland, Sri Lanka and Mauritius. 
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Gillette appoints panel to review Geep business
New Delhi: The board of directors of Gillette India on Tuesday appointed a committee to review its Geep battery business to assess its future potential and structure in line with Gillette India Ltd's review of its operations, a company release said. 
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Godrej focus on improving food unit's margins
Mumbai: Godrej Industries Ltd's focus of its newly acquired foods division will be to increase margins and reduce costs to improve the profitability prospects of this division. 
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Toyota Kirloskar to import Camry
Mumbai: Toyota Kirloskar Motor Ltd has firmed up plans to enter the D segment car market by the year-end. While the Camry - stated to be among the best-selling cars in the world - will be imported to India as a completely built unit (CBU) and 
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IFC to invest $3.6 m in Usha Beltron
Mumbai: International Finance Corporation (IFC) will be investing $3.6 million for a 14.4 per cent equity stake in Usha Beltron Ltd, manufacturer of steel wire ropes, specialised steel products and jelly filled telephone cables, said a news release. 
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