ONGC spikes BG model for Panna-Mukta operatorship
New Delhi: Oil and Natural Gas Corporation has rejected the management model proposed by British Gas for operatorship of Panna-Mukta and Tapti oil and gas fields.
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ONGC expects surge in profits with global prices
New Delhi: Oil and Natural Gas Corporation Limited is expecting a huge jump in its profits for the current fiscal when it starts getting international price for its crude oil.
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Shell seeks clarification on divestment clause
New Delhi: With the government permitting 100 per cent FDI in trading of petrochemicals, global oil giant Royal Dutch/Shell group has asked the industry ministry whether the 26 per cent disinvestment clause imposed on its wholly-owned subsidiary in 1999 still stands good or not.
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Siemens to divest 26% in metering venture
Mumbai: Siemens Ltd on Friday announced that it will divest 26 per cent of its equity stake in Siemens Metering Ltd. The divestment follows Siemens AGs global portfolio optimisation programme.
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Matrix board approves merger with Vorin Labs, Medicorp Tech
Hyderabad: The board of directors of Matrix Laboratories Ltd, a Hyderabad based bulk drug producer, has approved the scheme of amalgamation of Medicorp Technologies and Vorin Laboratories with MLL, according to Mr N Prasad Managing Director of the company.
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Bajaj Electricals plans to enter AC market soon
Mumbai: Spurred by the stupendous growth of air-conditioners in the domestic market this year, Bajaj Electricals Ltd, marketers of electrical and home appliances, is mulling to foray into air conditioners market next summer.
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Bajaj Electricals may exit die-cast business
Mumbai: Bajaj Electricals is exploring the possibility of exiting its die-cast business operations. The business has been making losses for years and the company has already shut down production of die-cast components at its Matchwel unit at Pune.
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ICAI seeks more info from AFF on Kale
New Delhi: The Institute of Chartered Accountants of India will be writing to AF Ferguson to obtain further details on AFF managing partner A K Mahindra's correspondence to senior partner Y M Kale on the special audit of Tata Finance.
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India may lose 9 lakh travel jobs
Mumbai: It may be a while before the after-effects of last year's terrorist attacks on the US wear away, but for now, people from as far away as New York, Beijing and New Delhi are paying the price.
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DCA rules out action, returns AFF files
New Delhi: DCA has ruled out any further action against Tata Finance or AF Ferguson in the document shredding case. The Registrar of Companies had returned the files that had been seized from the premises of AFF on September 18 after it found no evidence of paper-shredding and document mutation.
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Sebi gives clean chit to Satyam
Mumbai: Sebi has found evidence of a close relationhip between the Adani group and Ketan Parekh while giving almost a clean chit to the promoters of Satyam Computers. Sebi has also found that Global Trust Bank extended loans to KP entities which were in turn used in the stock markets and KP entities have also been found indulging in manipulation in the Global Telesystems scrip.
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TVS Motor plans new four-stroke bike thrust
Mumbai: It's now a new found freedom for TVS Motor after the exit of Suzuki. But, as an independent Indian company, it has to reckon with competition from Honda and Yamaha.
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A-I, IA synergy plan attracts dozen consulting firms
New Delhi: A dozen consulting firms, including an Air France arm and a former subsidiary of British Airways, are in the race for bagging a contract to prepare a business plan to synergise the operations of Indian Airlines and Air-India.
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LG, Samsung hike sales by aggressive marketing
New Delhi: It's no longer a secret. With aggressive marketing and competitive price-positioning, Korean chaebols LG and Samsung are virtually striding across the consumer durables marketplace like a colossus.
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Bart Hellmans set to be first videshi to head Vysya Bank
Bangalore: Change is in the air at Bangalore-headquartered Vysya Bank. With the Dutch banking and insurance giant ING having gained a 44% stake in the bank, the first "desi" videshi (international) bank is set to have a foreigner heading it soon.
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ONGC gears up for selloff, to hold investors' meet
Mumbai: ONGC is making its first strides towards becoming a widely held com-pany. It has organised its first ever non-deal road show at Mumbai on Monday.
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MRL dealers want dues to be settled before MRL sellout
New Delhi: Following suppliers it is now the turn of Modi Rubber Ltd's dealers to ask for the settlement of their dues and claims before going ahead with the proposed sell out deal with Apollo Tyre Ltd.
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T-Series buys out Madras Recording
Mumbai: Super Cassette Industries, which owns the T-Series brand, has acquired the Chennai-based Madras Recording Company for an undisclosed sum. In the process, it has picked up two audio labels Saragam and Hareram.
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IndianOil major driver of commercial paper this year
New Delhi: Indian Oil Corporation has emerged as the major driver of the commercial paper market this year.
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Hughes Tele's $25-m debt to be restructured
Mumbai: Hughes Tele.com's debt is being restructured, following its merger with Tata Teleservices. The $25 million owed by Hughes Tele to Hughes Network Systems will be paid by issuing warrants and redeemable preference share of Tata Teleservices.
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MK Electric systems for `green' buildings
New Delhi: MK Electric India on Friday launched its integrated intelligent building management systems (IBMS), which are aimed at helping organisations implement `green' building practices.
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Burn Standard may launch revised incentive scheme
Kolkata: The ailing Burn Standard Co Ltd, which had suspended its rather expensive incentive scheme, is planning to relaunch a revised scheme within this fiscal.
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Opto may opt for debt route to fund acquisition
Bangalore: Sensors maker Opto Circuits Ltd has decided to "go slow" on its proposed private placement to part-fund its acquisition. It could resort to debt from financial institutions (FIs) for such buy-outs, according to its Managing Director, Mr Vinod Ramnani.
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February 28 deadline set for Coca-Cola disinvestment
New Delhi: The Government has granted an extension of six months to Coca-Cola for fulfilment and completion of its disinvestment exercise in the Indian subsidiary, Hindustan Coca-Cola Beverages Pvt Ltd.
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RPL-RIL merger formalised
Mumbai: The merger of Reliance Petroleum Ltd with Reliance Industries Ltd became effective yesterday. The company has completed formalities including filing of requisite documents under the Companies Act, 1956 with the 
Registrar of Companies in both both Gujarat and Maharashtra.
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CG Igarashi plans new plant - To develop appliances for domestic market
Chennai: CG Igarashi Motors Ltd proposes to put up a new plant for manufacturing DC motors for the domestic market. The company intends to develop products - appliances such as vacuum cleaners, which would use DC micro motors instead of AC motors.
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Traco heading towards BIFR net
Kochi: Traco Cable Company Ltd, a Kerala Government owned unit, is likely to enter the BIFR net by this year-end.
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New furnace to improve Tata Steel efficiency
Kolkata: Tata Steel hopes to effect substantial improvements in efficiency and costing with the commissioning of its refurbished `F' blast furnace. A company release said that the furnace would produce one million tonnes per annum of hot metal.
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Coal India nets Rs 1,754 cr
Kolkata: The state-owned Coal India Ltd (CIL) has done well even in the recession-hit economy during the financial year ended March 2002.
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