Decision on HPCL, BPCL selloff in December
New Delhi: A decision on disinvestment of Hindustan Petroleum Corporation and Bharat Petroleum Corporation will be taken only in the first week of December.
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Infosys seeks a charity tieup with MS
Hyderabad: In the realm of corporate philanthropy, Microsoft and India's software bellwether Infosys Technologies might well be kindred spirits. The coming weeks might indeed see the two companies interacting more closely in delivering on their social responsibilities.
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LIC loses 7% of market since April
Mumbai: Waking up to a sharp 7 per cent drop in market share in just six months since April, the country's largest insurer is changing tack.
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PNB, Vijaya may finalise life insurance ally by October-end
New Delhi: Punjab National Bank and Vijaya Bank are expected to finalise a partner for their life insurance joint venture this month. This was stated by SS Kohli, Chairman and Managing Director of PNB, after inaugurating the bank’s seventh mid corporate branch in Mumbai.
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JVSL gets FI nod to reduce capital
New Delhi: FIs are planning to approve the proposal from Jindal Vijaynagar Steel (JVSL) to reduce its share capital, according to senior officials in financial institutions.
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ESPN-STAR gets HC nod to telecast Test highlights
New Delhi: ESPN-STAR Sports is legally in the clear and free to telecast the highlights of the India-West Indies Exide Cup series. Last week, the Delhi High Court had stayed the telecast but the channel had appealed against the stay order. The stay was vacated on Thursday.
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Bajaj Auto to sell ICICI Bank stake
Mumbai: Bajaj Auto is exploring the option of divesting its entire holding in ICICI Bank in tranches, over a period of time. The company currently holds 3.51 per cent, or 2,15,19,880 shares of the bank, which at the current prices is worth around Rs 300 crore.
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LG, Samsung to make PCs to take on grey market
Bangalore: White good manufacturers like LG and Samsung are entering the PC business to take on grey market assemblers who constitute 60% of the total market. Surprisingly, both LG and Samsung, who till recently positioned themselves as leading suppliers of PC components to assemblers are now gearing up to compete with them.
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Marico Q2 net jumps 17% to Rs 13 crore
Mumbai: Marico has posted a consolidated net profit of Rs 13 crore for its second quarter ended September 30, 2002, up 17 per cent from Rs 11.1 crore in the same period last year. The consolidated results of Marico comprise those of Marico Industries and its wholly-owned subsidiary Marico Bangladesh.
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Yamaha bets on cruisers, forecasts 50% jump in sales
New Delhi: The Japanese two-wheeler major is likely to post a 50 per cent jump in motorcycle sales during the current fiscal. Total sales of Yamaha India this fiscal year is expected to touch 3.3 lakh units, with exports accounting for 30,000 units.
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Telco's Indigo to roll out only by year-end
Pune: Car lovers who were readying to drive around in the new Tata Indigo during Diwali will now have to wait a little longer. Tata Engineering (Telco) has decided to defer the launch of its keenly-awaited mid-sized sedan till the year-end.
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Ranbaxy Q3 net zooms 79% on spurt in sales
Mumbai: Ranbaxy Laboratories, on the back of a surge in export earnings, has reported a 79 per cent spurt in net profit to Rs 159.4 crore during the third quarter ended September 2002.
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Aurobindo Pharma gets non-infringing patents in US for new process
Mumbai: Aurobindo Pharma has been granted two non-infringing patents in US for its newly developed process on sterile cephalosporin.
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Cathay Pacific increases freighter flights to India
Mumbai: Identifying cargo operation as the avenue for growth, Hong Kong-based Cathay Pacific has increased the number of freighter flights in and out of India.
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Panel refers open offer issue to L&T board
Mumbai: The managing committee of Larsen & Toubro, which met on Thursday to discuss the issue of open offer by the AV Birla group, has referred the matter to the L&T board.
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Kochi Refineries pays Rs 1.54 crore
Kochi: Kochi Refineries Ltd has paid a dividend of Rs 1.54 crore to the State Government for the financial year 2001-02.
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S-E Asia, the hotspot for Club Mahindra
New Delhi: Mahindra Holidays & Resorts India, part of the Rs 4,500-crore Mahindra Group, has firmed up plans to set up Club Mahindra resorts in South-East Asia- a growing hotspot for Indian tourists.
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ECE ties up with German co for customised lifts
New Delhi: ECE Industries Ltd, the electrical equipment and elevator manufacturing company, has tied up with ThyssenKrupp Elevator AG of Germany for the production of customised modern elevators.
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Witness in partnership with FutureSoft India
New Delhi: Witness Systems, a US-based provider of software for contact centres, yesterday entered into a partnership with FutureSoft India to cater to the growing call centre industry in the country.
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Sri Vishnu Cement `potentially sick'
Hyderabad: Sri Vishnu Cement Ltd (SVCL), which was acquired by Zuari Cement Ltd (ZCL), has fallen under the category of "potentially sick industrial company", with the erosion of its net worth by over 50 per cent.
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Cognizant adds 950 staff, ups revenue hope
Chennai: The Nasdaq-listed Cognizant Technology Solutions (CTS) has added 950 employees during the quarter ending September 2002. Most of the recruitment was for the company's Indian operation at Chennai, Kolkata, Pune and Bangalore.
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Morepen exports up 115 pc in H1
New Delhi: Morepen Laboratories Ltd has seen its generics exports grow by a robust 115 per cent in the first six months of this year, due to anti-histamine drug Loratadine, which goes off patent in the US in December this year.
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