Reliance Group hikes BSES stake to 43% via block deal 
Mumbai: The Reliance group upped its stake in Mumbai-based power utility major BSES Ltd to 43 per cent through a block deal involving a transaction of 2.5 lakh shares on the Stock Exchange, Mumbai. 
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Upgraded Qualis boosts Sept car sales 
Mumbai: The new look My Luxury-New Qualis from the Toyota Kirloskar Motor Ltd stable, launched in the first week of September 2002, seems to have made a dent into the premium car customer and MPV segment, if one considers the sales figures for the month. 
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EICI flays move to make DoP regulator for courier companies  
New Delhi: Express Industry Council of India, an apex organisation representing express companies like Blue Dart, TNT, Elbee Services etc., has expressed strong reservations against certain provisions in the proposed Indian Post Office Amendment Bill 2002, which is under consideration by the parliament. 
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GIC net profit dips 23% to Rs 307 crore 
New Delhi: Despite a 22.16% higher growth in net premium income, and over 10% higher investment income, the GIC has recorded a decline of 23.44% in its net profit to Rs 306.70 crore for the period end-March 2002, down from Rs 400.64 crore due to the large motor insurance and Gujarat riot claims. 
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M&M in talks for assembling Scorpio in Russia, CIS markets 
Mumbai: Mahindra & Mahindra Ltd (M&M) is in advanced talks with major automobile manufacturers to assemble Scorpio in Russia and CIS markets, following the overwhelming response to the vehicle at the Moscow International Motor Show 2002. 
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Software squeeze: Consultants slash the bill
Mumbai: It's not software companies alone which are facing pressure from their clients. Consulting firms looking at growing their practice in India are facing considerable pressure on billing rates. 
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Chandra, family take over Zee show
Mumbai: In a major restructuring move at Zee Telefilms, chairman of the group Subhash Chandra, has eased himself in as helmsman once again.
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GIC pays Coca-Cola first terror claim
New Delhi: The first terror claim post 9/11, settled by GIC, has been Rs 60 lakh, arising on account of the Naxalite attack on Coca-Cola India's plant. 
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Frost & Sullivan to double Chennai staff
Chennai: When international market research consulting company Frost & Sullivan decided to establish its global innovation centre in Chennai in 00, it was supposed to be a 35-member office for carrying out the back-end operations for its global functions.
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ITC to set mkt afire with foray into matches segment
Kolkata: There is no smoke without fire. After selling cigarettes for decades, ITC is becoming wiser. The company is getting into the business of making matches under the brandname, Aim.
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DoT to transfer 773-acre land demerged from VSNL to new co
New Delhi: The Department of Telecommunications would soon appoint valuers for assessing the 773.13 acres of land demerged from Videsh Sanchar Nigam.
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Koshika Tele fails to pay licence fee
New Delhi: DoT on Tuesday cut off 57,000 mobile phone users in UP (East) because their cell phone company, Koshika Telecom, has not paid licence fees. Koshika has to pay Rs 100 crore to DoT.
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Sify banks on broadband to tap browsers at home
Chennai: Satyam Infoway, a leading internet service provider, is stepping out with its broadband services to aggressively push into the home access market. 
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RIL to use IPCL talent for engg design centre
Mumbai: Reliance Industries is planning to set up a detailed engineering design centre at Baroda. RIL is expected to use the engineering design talent of Indian Petrochemicals, which already has excess manpower in its existing Baroda complex.
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Lalbhais buy 10 per cent in Amtrex Hitachi from ICICI Bank
Mumbai: While speculation surrounding the stake swap between Hitachi and its Indian partner the Lalbhai group in their joint venture Amtrex Hitachi Appliances is still rife, there has been some more stir in the equity profile of the JV. 
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Wockhardt to invest Rs 500 cr in hospitals
Mumbai: Wockhardt is on an elixir binge. The group is earmarking around Rs 400-500 crore of investments to build 3-4 hospitals over the next 2-3 years. One of these is a Rs 100 crore-plus multi-speciality facility being planned in Kolkata.
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IOC to monetise Rs 5,276-crore oil bonds
New Delhi: Indian Oil Corporation will shortly be monetising its oil bonds of about Rs 5,276 crore. The resources raised by selling these bonds would be used partly to repay the debts of IOC and partly to fund their projects. 
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Fertiliser cos offer 10-14 per cent discount
New Delhi: It's not just FMCG companies and shopping malls who are throwing in hefty discounts to bring the fickle consumers in. The fertiliser companies are offering discounts of 10-14% on urea in the Hindi heartland to entice drought-hit farmers.
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LPG, kerosene subsidy costs IOC Rs 350 cr per month
New Delhi: Indian Oil Corporation (IOC) is losing around Rs 350 crore every month on sale of LPG and kerosene through the public distribution system due to non-revision of product prices in the wake of high global crude prices, according to the IOC Chairman and Managing Director, Mr M.S. Ramachandran. 
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Reliance cuts polymer prices
Mumbai: Polyethylene and polypropylene prices are down Rs 2 per kg at Rs 37.70 per kg and Rs 42.35 per kg, respectively while polyvinyl chloride is down Rs 3 per kg at Rs 37.60 per kg. 
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Tamilnadu Petro gets nod for captive unit
Chennai: Tamilnadu Petroproducts Ltd has received the much-awaited approval from the Tamil Nadu Electricity Board (TNEB) for commencing operations of its 18.6 MW captive power unit. The formal letter was received on Monday. 
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Pace CFS scouts for partners
Thiruvanathapuram: Pace CFS Pvt Ltd, a Kerala-based inland container depot, is on the lookout for joint venture partners individuals or groups to set up container freight stations in the southern part of the country to handle export and import cargo. 
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VSNL takes row with BSNL to regulator
Mumbai: Videsh Sanchar Nigam Ltd (VSNL) has finally approached the Telecom Regulatory Authority of India (TRAI) to intervene in its interconnection spat with Bharat Sanchar Nigam Ltd (BSNL). 
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HC directive to RuiaCotex on Jessop offer
Kolkata: Justice Kalyan Jyoti Sengupta of Calcutta High Court has directed the counsel of Ruia Cotex Ltd (RCL) to produce documents in support of the statement that the offer of RCL is valid till October 13. 
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IICT process to help drugmakers
Hyderabad: IN an interesting laboratory-industry collaboration, the Indian Institute of Chemical Technology (IICT) has demonstrated an eco-friendly process that can break down the pollution causing methyl mercaptan, a by-product in the commercial production of Ranitidine. 
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Suzuki seeks FIPB nod to set up aluminium foundry
New Delhi: Suzuki Motor Corporation, the Japanese automobile major, is planning to set up an aluminium foundry in India. The company had filed an application with the Foreign Investment Promotion Board (FIPB) last Friday seeking permission to manufacture aluminium castings. 
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DCA discusses rules for issuance of IDRs
New Delhi: The Department of Company Affairs (DCA) is considering a proposal on whether to permit issuance of the proposed Indian Depository Receipts (IDRs) only by companies which are listed overseas. 
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Nocil application sent to Labour Commissioner
Mumbai: The closure of the petrochemicals division of National Organic Chemical Industries Ltd has been delayed after the Mumbai High Court remanded the closure application to the labour commissioner on appeal from the company's union. 
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Dunlop Ambattur unit to resume
Chennai: The decks have been cleared for the Dunlop factory at Ambattur, near here, to be reopened following an agreement signed between the management and the workers' union. The agreement between Dunlop India Ltd and the Dunlop Factory Employees Union was signed here yesterday. 
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Honda Siel sales up 26 pc in April-Sept
New Delhi: Hondo Siel Cars India Ltd yesterday said sale of its City and Accord models rose 26.36 per cent during April-September this year to touch 6,318 units. Sales in September stood at 1,354 units, up 18 per cent, over the same month last year.
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TVS Motor sales up 44 pc in Apr-Sept
New Delhi: TVS Motor Company said today its two-wheeler sales rose to 1.03 lakh units during September 2002 due to strong demand of its 110cc motorcycle `Victor'. Sales during April-September 2002 jumped 44 per cent to 5.57 lakh units, a year ago. 
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Bajaj Auto bike sales up 31 pc in September
Mumbai: Bajaj Auto Ltd (BAL) has registered a 30.5 per cent growth in sale of motorcycles to 69,359 units for September 2002, as against the year-ago period. 
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Hero Honda sales up 30.22 pc in Apr-Sept.
New Delhi: Two wheeler major, Hero Honda Motors Ltd, has registered a 30.22 per cent growth in its sales (in unit terms) during the first half of the current fiscal, selling 8.29 lakh motorcycles as against 6.37 lakh units in the corresponding period last year. 
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