Call hold: Govt to rethink BSNL-MTNL merger
New Delhi: The government is now considering the option of exploring synergies between BSNL and MTNL instead of opting for a immediate merger between the two public sector telecom majors.
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STAR to revamp ad sales ops
New Delhi: After the resignation of its ace director of advertising sales, Raj Nayak, India's numero uno TV company STAR has decided to revamp its advertisement sales operations.
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No shock therapy for reforms: PM
Hitting out at the critics of India's "slow" economic reforms, Prime Minister Atal Bihari Vajpayee on Wednesday said there cannot be a "shock therapy approach" to them and they were being implemented with a human face.
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Mphasis BFL's Q2 net up 61% to Rs 10 cr
Mumbai: Software services company Mphasis BFL’s net profit for the quarter ended September 30, 2002 has gone up by 16.2 per cent to Rs 16.1 crore, from Rs 13.9 crore for the previous quarter ended June 30, 2002. Net profit is up by 61 per cent compared to Rs 10 crore for the same quarter last year.
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Whirlpool retains No. 1 slot, but firms remain downbeat
Mumbai: Even as the consumer durable industry warms itself up for the festive season, the Rs 2,000-crore refrigerator industry, which has only marginally grown this year, is not expecting a magical shift in its fortunes.
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Telco’s HI sales vault 32% to 45,598 units
Mumbai: Telco, the country’s largest truck maker, posted strong growth in truck sales in September, indicating a continuing revival in demand despite parts of the country being stricken by its worst drought in 15 years.
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Ranbaxy not to shift OTC sale to FMCG stockists
Mumbai: Ranbaxy Laboratories, India’s top drugmaker by sales, has agreed in principle not to transfer the distribution of its OTC brands to a network of FMCG stockists, an office bearer of the pharmaceutical stockists’.
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Kinetic Engineering steps into used bikes segment
Mumbai: Kinetic Engineering has made a pioneering move in India by foraying into the second hand two-wheeler business. ‘Kinetic Shoppe’, as the showrooms for used vehicles will be called, are at a pilot stage in Mumbai and Pune, following which the company will make a national level launch.
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Indian Airlines saves $7.5 mn on lease rental dip
New Delhi: Indian Airlines may have been hit by the drop in international arrivals into India this year but it has also benefited from the sharp fall in lease rentals triggered by surplus capacity in the global market after 9/11.
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Alstom keen on India for global sourcing base
New Delhi: Energy and transportation group, Alstom has formulated a three-pronged strategy to grow its Indian operations. The strategy includes concentrating on smaller power projects, enhancing its presence in the service segment and becoming a global sourcing base for its worldwide operations.
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Bajaj Auto plans to drive up export volumes
Mumbai: Having improved its position in the domestic motorcycle segment, Bajaj Auto has chalked out ambitious plans to drive up its export volumes, which would increasingly be dominated by motorcycles.
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Maruti to improve productivity, reduce cost
New Delhi: Shedding its past image of a public sector unit that dithered to react to market conditions in the late 90s, India’s leading passenger car maker, Maruti Udyog is gearing up to take competition head-on.
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Indigenous LPG kit for small cars launched
New Delhi: The Delhi-based Yash Propane Auto Energy Pvt Ltd has launched indigenously developed LPG kits for passenger cars with engine capacity ranging between 600 cc and 1,000 cc. According to the company, it has obtained all the necessary clearances from the authorities.
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New Holland launches new series of tractors
Pune: New Holland Tractors Pvt Ltd has launched its new Ford international series of tractors, with plans to phase out the existing tractors in the 35-70 HP range.
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6-day week again at MICO plant
Bangalore: Auto components maker Mico Ltd said yesterday that it resumed a 6-day week working schedule from October 7, as its customers have reduced call-offs. The company had introduced a five-day working week at its Bangalore plant on September 9.
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Kodak UK's open offer closes today
Mumbai: Kodak UK's open offer to acquire the public shareholding of Kodak India at Rs 350 a share will close on October 10. Kodak UK had made a public offer to the shareholders to acquire 2.8 million shares aggregating 25.24 per cent of the paid-up capital of Kodak India. Kodak, UK, intends to delist Kodak India from the stock exchanges once the public shareholding in Kodak India falls below 10 per cent.
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Tax assn wants Govt to defer new depreciation rates
Kolkata: The Direct Taxes Professionals' Association has suggested that the reduced depreciation rates, notified on September 27, should be made applicable for the next assessment year, that is, 2004-05, as industry may not be able to absorb the the extra burden.
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Pharmacia clears VRS for Abbott head office staff
Mumbai: The board of directors of Pharmacia Healthcare on Wednesday approved a voluntary retirement scheme (VRS) for the employees at the head office of Abbott India Ltd in which it holds majority stake.
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Indo Rama's spun yarn business to be demerged - Lenders approve restructuring scheme
New Delhi: The spun yarn business of the Rs 1,900-crore Indo Rama Synthetics (IRSL) is to be segregated into Indo Rama Textiles Ltd, according to Shailendra Tandon, President and Chief Financial Officer, IRSL.
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Elque Polyesters' promoters keen to shed entire stake
Kolkata: Even as fresh schemes for restructuring the loans from FIs and banks by Elque Polyesters Ltd (EPL) are in an advanced stage of preparation, the principal promoters of the company - Abijit Sen and associates - are believed to be in a mood to to sell their entire equity stake in the company provided they get "worthwhile'' offer.
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Berger to buy Snowcem paints business - Due diligence process to be taken up soon
Kolkata: Berger Paints India Ltd has entered into an agreement with Snowcem India Ltd for formally beginning an acquisition process of the latter's interior and exterior paints business.
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Citibank Overseas buys 10 pc more of e-Serve
Mumbai: Citibank group company, Citibank Overseas Investment Corporation (COIC), has increased its stake in the business process outsourcing (BPO) company, e-Serve International Ltd, by 10 percentage points in the last quarter ended September 30, 2002, through market purchases.
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Alopa, ARRIS sign pact
Bangalore: Alopa Networks, a provider of broadband subscriber solutions and operational support systems (OSS), has signed a strategic reseller agreement with ARRIS, a global communications technology leader.
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Damocle's sword hangs over Hindustan Photo - BIFR deadline for revival plan is Oct 16
Coimbatore: The fate of the Government-owned photo-film manufacturing unit - Hindustan Photo Films Manufacturing Co Ltd (HPF) - at Udhagamandalam is likely to be known in a week's time. The Board for Industrial and Financial Reconstruction (BIFR) has threatened to pass the winding-up order if a viable revival plan is not submitted by October 16.
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Mysore Lamps can be turned around: Union
Bangalore: Mysore LampWorks Ltd, one of the oldest State public enterprises facing closure, could be revived and made viable if the Government reconsidered its decision, according to leaders representing the employees.
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Smaller PSUs being lined up for divestment
New Delhi: The Ministry will soon approach the Core Group on Disinvestment with proposals to privatise Hindustan Shipyard, Cochin Shipyard, Central Inland Water Transport Corporation and Ircon.
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