Vajpayee settles selloff row, wins Fernandes
New Delhi: Prime Minister AB Vajpayee has scored a major breakthrough in his efforts to clear the strategic sale of HPCL and BPCL with Defence Minister George Fernandes coming around to accept an old compromise formula.
Back to News Review index page  
IOC to float Rs 1,600-cr IPO in Jan
New Delhi: Indian Oil is planning to enter the market with a Rs 1,600-crore IPO, the largest in recent times, by January 2003. 
Back to News Review index page  
India Inc. overseas investments up 24%
Mumbai: In an otherwise dismal year, Corporate India's direct investment in overseas equity recorded a strong growth in 2001-02. 
Back to News Review index page  
Balmer Lawrie gets 16 bids, staff unhappy
Mumbai: Employees and executives of Balmer Lawrie & Co, which is up for divestment, cried foul yesterday, questioning the sell-off route taken by the government. According to them, none of the 16 companies shortlisted were serious bidders.
Back to News Review index page  
Rain gods play truant with pharma cos
Mumbai: Drug companies must be cursing the rain gods. A poor monsoon this year has hit the pharma industry where it hurts the most - sales.
Back to News Review index page  
BPL pulls out of EIL divestment race
Kolkata: BPL group has pulled out of EIL disinvestment. The group figured among the 14 shortlisted corporates that qualified in the initial round. 
Back to News Review index page  
Taj to invest Rs 100 cr in destination spa
Mumbai: With spa and ayurveda emerging as potent selling tools for domestic tourism industry, more number of hotel chains are seriously venturing into setting up destination spas. 
Back to News Review index page  
Roche, NPIL biotech pact off
Mumbai: In what could be a blow to Nicholas Piramal Indias biotechnology initiative, its alliance partner Swiss major F Hoffmann La Roche has decided not to renew its 10-year licensing agreement for six fast-growing Roche products that are currently being marketed in India by NPIL. 
Back to News Review index page  
Cutty Sark to invest Rs 25 cr to boost local sales
New Delhi: Cutty Sark, the three million cases a year scotch whiskey, one of the 10 largest spirit brands in the world, is planning to invest Rs 25 crore in India in its endeavour to boost its sales in the nearly 300,000 cases imported spirits market in India. 
Back to News Review index page  
Non-life insurance cos woo banks for customers
New Delhi: After life insurers realised the virtues of piggybacking on banks for pushing their policies, it's the turn of non-life insurance companies to woo banks for getting in customers, what is called bancassurance. 
Back to News Review index page  
KPMG Consulting to retain name in India
New Delhi: In India, KPMG Consulting will retain its name and identify even though worldover a $40 million rebranding exercise transformed KPMG Consulting into BearingPoint Inc.
Back to News Review index page  
Chinese TV firm scouts for Bollywood flicks
New Delhi: Four days into the International Film Festival of India 2002, buyers are trickling into Film Bazaar, making enquiries. Most participants are secretly pinning hopes on China will it provide the popularity Indian films once enjoyed in Russia? Perhaps, but it will take time. 
Back to News Review index page  
Sony targets Rs 750-cr sales this year, unveils car stereos
New Delhi: Sony India, a 100% subsidiary of Japan's Sony, has taken an aggressive stand in the Indian market and has targeted a sales turnover of Rs 750 crore for the current fiscal. It achieved a turnover of about Rs 600 crore last year. 
Back to News Review index page  
SPIC ammonia unit shut due to leakage problem
Chennai: The ammonia unit of Southern Petrochemical Industries Corporation (SPIC) at Tuticorin has been shut down due to a leakage in the pipeline. When the repair works were going on, a fatal accident occurred on October 1, 2002.
Back to News Review index page  
Vestergaard Frandsen unveils `Zerofly' sheets
New Delhi: Vestergaard Frandsen, a $22-million Danish company dealing in emergency relief articles and disease control textiles, yesterday announced the launch of "ZeroFly" shelter - an insecticide incorporated plastic sheeting developed as a dual function tool for providing shelter and preventing vector borne diseases such as malaria in slums and at times of emergencies. 
Back to News Review index page  
Allergan India to invest Rs 20 cr in Global Bulk
Hyderabad: Allergan India Ltd (AIL), the joint venture between the US-based speciality pharmaceuticals major Allergan Inc and Nicholas Piramal India Ltd (NPIL), has decided to invest up to Rs 20 crore in Global Bulk Drugs and Fine Chemicals, a Hyderabad-based bulk drugs manufacturer belonging to the Piramal group. 
Back to News Review index page  
Boston Scientific to launch drug-coated stents soon
New Delhi: Armed with a favourable directive from a US district court, medical devices company Boston Scientific is set to commercially launch Taxus its paclitaxel-coated stent and the product that was in the eye of the storm. 
Back to News Review index page  
Rs 256-cr GAIL dividend paid for 2001-02
New Delhi: The Gas Authority of India Ltd (GAIL) has made a dividend payment of Rs 256.28 crore to the Government for 2001-02. GAIL had announced a dividend of 45 per cent for 2001-02 on the Government's equity of Rs 569.50 crore, compared to 40 per cent last year.
Back to News Review index page  
SEW Eurodrive puts off plans for second plant - Chennai's loss may be Lanka's gain
Chennai: SEW Eurodrive India Pvt Ltd, the fully-owned subsidiary of SEW Eurodrive GmbH & Co of Germany, has postponed its plans for setting up its second assembling plant for gear motors and gear boxes. 
Back to News Review index page  
KMML plans to spend Rs 23 cr on capacity hike
Kochi: The State-owned Kerala Minerals and Metals Ltd (KMML), the only manufacturer of rutile grade titanium dioxide pigment in the country, is expanding capacity at a cost of around Rs 23 crore. 
Back to News Review index page  
SEBI notifies 3-yr lock-in for sweat equity shares
Mumbai: The Securities and Exchange Board of India (SEBI) has notified new separate regulations specifying the procedure for holding enquiry and imposition of penalty in respect of all the intermediaries regulated by it. 
Back to News Review index page  
Public arms of foreign cos can revert to pvt status: DCA
Deemed public companies, which are subsidiaries of foreign body corporates, now can revert to their earlier status of a private company. All they need to do for this is to make an application to the Registrars of Companies (RoCs) for reverting to the status of private companies. 
Back to News Review index page 
Pentamedia Graphics board allots bonus
Chennai: The board of directors of Pentamedia Graphics Ltd at its meeting held yesterday allotted 74,95,829 new equity shares of Rs 10 each. Such new equity shares credited as fully paid up, be accordingly allotted as bonus shares to such persons respectively in the proportion of one equity shares for every 10 equity shares held by them as on record date - September 27, 2002, says a company notice to the Bombay Stock Exchange.
Back to News Review index page  
Hyundai sales up 64 pc in Sept
New Delhi: Hyundai Motor India Ltd has announced record sales of 10,053 vehicles in September 2002. At this level, the sales mark a jump of 64 per cent over the 6,781 units sold in September in the previous year. 
Back to News Review index page  
Rly catering corpn posts profit in maiden year
New Delhi: The Indian Railway Catering and Tourism Corporation Ltd (IRCTC) has reported a turnover of Rs 9.85 crore during 2001-02, the very first year of its full-fledged operations. 
Back to News Review index page