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Honeywell
shortlists indian firms for global sourcing
New Delhi: Honeywell, the US-based $24-billion
diversified technology and manufacturing leader of aerospace
products and services, has shortlisted Hindustan Aeronautics
Ltd, Tata group, Larsen & Toubro, SKF Bearings, AT&S
India and Kirloskar for its global sourcing.
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Essar
bags contract for combined water supply scheme in TN
New Delhi: Essar Constructions Limited, has bagged
a contract for developing a combined water supply scheme
in the districts of Madurai and Theni in Tamil Nadu.
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JK,
Vikrant Tyres to merge
New Delhi: JK Industries and Vikrant Tyres on Monday
announced their decision of amalgamation of the two companies,
creating the country’s largest four-wheeler vehicle
tyre company.
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IDBI
slashes interest rate on Dabhol loans to 10%
Mumbai: Bowing to pressure from the Maharashtra
government, the rupee lenders’ consortium leader
IDBI has reduced the interest to 10 per cent from 13.5
per cent on interest repayment on loans for the Dabhol
power project.
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HPCL
plans to launch Ccub HP Rrtail Brand in small metros
New Delhi: After launching its Club HP retail brand
in the major metros, Hindustan Petroleum Corporation Limited
is rolling out the brand into mini metros.
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Festive
season: car firms hit discount trail
New Delhi: It's festival time again and the discount
fever is hitting an all-time high in Motown. With car-makers
and dealers pushing B-segment volumes, the discount tally
is the most attractive in that segment.
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Oil
majors' marketing margins zoom
New Delhi: Oil firms and energy experts estimate
that marketing margins on petrol and diesel have gone
up by 260% to Rs 900 per kilo litre in first-half of '02-03.
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Firms
to disclose more for loans
New Delhi: The government may impose higher levels
of accountability and disclosure on companies that raise
loans from FIs and banks.
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Punjab
Infotech to hire consultants to identify thrust areas
in IT sector
New Delhi: Punjab Infotech has invited bids from
reputed consultancy firms for developing a strategic action
plan and implementation for information and communication
technology and IT-enabled services industry in the state.
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Private
ISPs back out of ILD plans, find costs prohibitive
New Delhi: Six months after the international long
distance (ILD) sector was opened to private participation,
Internet service providers (ISP) have started backtracking
on their initial enthusiasm to enter the ILD sector. The
reasons vary from the prevailing imbroglio over interconnect
agreements to non-availability of funds.
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State
Bank of Patiala's gross profit up 23%
New Delhi: Aggregate deposits of the State Bank
of Patiala for the half year ended September 30,’02
have exceeded Rs 17,200 crore while total advances have
also crossed Rs 9,300 crore.
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Sun
to set up IT services hub in India
Bangalore: India has been seen largely as a software
development hub for Sun Microsystems. However, its much-touted
cost-advantage may also prompt the company to look at
India as an ideal destination for an IT-enabled services
unit.
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JD
Edwards plans consulting base in India
Mumbai: Denver-based ERP (Enterprise Resource Planning)
software vendor JD Edwards is planning to introduce a
direct consulting practice in the country and recruit
300-600 ERP and CRM (Customer Relationship Management)
consultants over the next year to grow its market share
in India.
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Reliance
Info to launch telecom services on Dec 28
Mumbai: Reliance Infocomm is planning to launch
basic telecom services on December 28 in nearly nine out
of 18 circles across the country. Simultaneously, it is
also said to have initiated talks with banks and financial
institutions to offer finance to consumers for its services.
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SWC
to expand businesses: Wazir
Kolkata: Komal C Wazir, executive director of Shaw
Wallace and Company (SWC), has set a three-point agenda
for its growth including selling off non-core businesses
like gelatine, agrochemical and an international trading
arm in Colombo, expand beer and liquor businesses and
finally emerge as a complete beverage company.
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IL&FS'
auto finance arm plans back office foray
Mumbai: Trying times compel companies to re-invent.
Faced by pressures on revenues and sluggish business conditions,
Orix Auto Finance the auto finance company of the IL&FS
group has re-positioned itself into a technology-oriented
company and has been re-named Orix Technologies &
Systems
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Consumer
goods firms bet big on small towns
New Delhi: Small cities mean big money. No wonder
every consumer durable, home appliance, MP3 maker and
auto company is making a beeline for the Jalandhars and
Patnas to get a fat chunk of the consumer pie.
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CESC
to seek tariff review for 2002-03
Kolkata: The RPG-controlled CESC Ltd will seek
a review of its tariff for 2002-03, shortly Sanjiv Goenka,
company Vice-Chairman, has said. CESC, which will have
to rework its accounts on the basis of the tariff rates
(for 2000-01 and 2001-02) that that would now be decided
by the West Bengal Electricity Regulatory Commission (as
directed by the Supreme Court), had not filed any tariff
review petition for this fiscal with WBERC.
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BG
officials meet Naik
New Delhi: Senior BG officials yesterday met the
Union Petroleum Minister, Mr Ram Naik, to explain their
stand on the dispute with Oil and Natural Gas Corporation
(ONGC) and Reliance Industries Ltd (RIL) on the operatorship
of the Panna-Mukta oil and gas fields.
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SEC
Industries bags APTDC award
Hyderabad: SEC Industries Ltd, a city-based technology
focussed industry, has bagged the `best innovative technology
development award sponsored by the Andhra Pradesh Technology
Development Corporation (APTDC) for 2002.
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ICAI
members can now join Uganda body
New delhi: The Institute of Chartered Accountants
of India (ICAI) has attained the status of a recognised
professional institute of the Institute of Certified Public
Accountants of Uganda (ICPAU).
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Bid
for BSL `hostile' - Flaws in Sardas' open offer papers:
SEBI
Mumbai: The Securities and Exchange Board of India
(SEBI) has billed the attempt to take over BSL Ltd by
the Sardas of Kolkata as a ``bid in futility''. This was
stated by R.M. Joshi, Executive Director of SEBI.
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Securities
of IDRs must be listed on foreign bourse
New Delhi: Overseas companies proposing to issue
Indian depository receipts (IDRs) will have to ensure
that the securities or the underlying shares would have
to be listed on an international stock exchange first.
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BPL
Telecom eyes Rs 250-cr PC sales
Kolkata: BPL Telecom Pvt Ltd, part of the Rs 4,300-crore
BPL Group, has targeted a revenue of Rs 250 crore from
sales of personal computers (PC) in the current fiscal.
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Cochin
Shipyard to build vessel for Abu Dhabi co
New Delhi: The efforts of Cochin Shipyard Ltd to
make an entry into the export market has started yielding
results. It has bagged an order from National Petroleum
Construction Company, Abu Dhabi, for building an ocean
going cargo launch vessel.
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TN
Industrial Explosives to wipe out losses
Chennai: Tamil Nadu Industrial Explosives Ltd is
set to wipe out its accumulated losses during the current
financial year and commence work on the diversification
project for manufacturing emulsion explosives, according
to a company press release.
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Eicher
Motors exports up 93% in September
Mumbai: Eicher Motors Ltd has recorded a growth
of 93 per cent in export sales of commercial vehicles
during the month of September 2002 over the corresponding
period last year.
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Oil
Palm India pays Rs 13.59-lakh dividend
Thiruvanathapuram: Oil Palm India Ltd, a joint
sector project under the Ministry of Agriculture, has
paid a dividend of Rs 13.59 lakh in 2001-02.
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