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Honda’s
Indian arm mulls capacity hike in Gurgaon
New Delhi: Honda Motorcycle & Scooter India
Ltd, the wholly-owned subsidiary of Honda Motor Company
of Japan, is mulling a major capacity hike at its manufacturing
plant in Manesar, Gurgaon.
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Marico
Q2 net profit increases 17% at Rs 13 crore
Mumbai: Marico Industries has posted a 17 per cent
increase in net profit at Rs 13.02 crore for the second
quarter-ended September 30, 2002 from Rs 11.10 crore in
the corresponding quarter last year.
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Grasim
subsidiary buys additional L&T equity shares
Mumbai: Samruddhi Swastik Trading and Investments
Ltd has purchased additional 15,56,909 (0.63 per cent)
equity shares of Larsen and Toubro Ltd through open market
purchases at an average price of Rs 180.91 per share on
October 14, 2002.
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Duty
on SKD car kits may be doubled to 60%
New Delhi: The Central Board for Excise and Customs
(CBEC) has mooted important changes in the customs duty
structure of cars. It has proposed raising the imports
duties on semi-knocked down (SKD) kits of cars from the
current level of 30 per cent to a much higher level closer
to 60 per cent.
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BSNL
offers dirt cheap cell rates
New Delhi: Prime Minister will be inaugurating
CellOne, India's cheapest cellular service, in Lucknow
on Saturday. State-owned BSNL, CellOne's service provider,
claims that it is the cheapest mobile phone service in
the world.
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SHCIL
files claim with New India Assurance
New Delhi: Stock Holding Corporation of India,
the FI-promoted custodian company and depository participant,
is understood to have filed a claim under directors &
officers policy with New India Assurance Company, with
whom SHCIL has a Rs 50-crore policy.
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Hero
Honda Q2 turnover up 19%, net at Rs 140 cr
New Delhi: Hero Honda on Friday announced a 42
per cent jump in net profit at Rs 139.84 crore in the
quarter ended September 30 over the same period last year,
while turnover rose 19 per cent to reach Rs 1,258 crore.
Net profit for the half year increased 57 per cent to
reach Rs 279 crore compared to Rs 177.15 crore a year
earlier.
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Reebok
to hire more cricketers for promo
New Delhi: Reebok India is set to strengthen its
team in India. We’re not referring to its executive
team, but to it is cricket team comprising current and
upcoming Indian players, who endorse its products.
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Reliance
to double IPCL’s butadiene rubber capacity
Mumbai: The Reliance Group has decided to focus
on butadiene rubber and its derivatives, popularly known
as C4 downstreams, which is manufactured by IPCL. It is
also expected to provide the impetus to IPCL’s growth,
which was recently taken over by Reliance.
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PwC
plans roadshows to strengthen HR practice
Kolkata: PwC Global in its new avatar, has decided
to strengthen HR consultancy business across the world.
India has been identified as one of the principal countries
to focus on in this regard.
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Hughes'
CDMA roll-out unlikely this financial year
Mumbai: Hughes Tele.com is unlikely to roll out
its CDMA-based limited mobility services this financial
year as the company first needs to set up infrastructure
to support these services. As a result, Hughes may lose
out to competitors like Reliance, which are likely to
roll out their services by December.
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German
DEG to invest Rs 47.5 cr in Usha Beltron
Bangalore: DEG, the German Investment and Development
Company, has decided to invest 10 million euros (Rs 47.5
crore) as long term debt in the Kolkata-based Usha Beltron
(UBL). DEG’s loan will have an eight-year maturity
period and carry an interest of Euribor plus 2.75 per
cent.
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Shaw
Wallace, South African Breweries resume JV talks
Kolkata: Negotiations to form a joint venture between
South African Breweries, the world’s second largest
brewer, and Shaw Wallace, India’s second largest
spirit and beer company, have resumed after a four month
lull, it is relaibly learnt.
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Eli
Lilly to make India sourcing hub
New Delhi: Eli Lilly has decided to make India
a major sourcing centre for a range of bulk drugs and
is expected to announce a couple of sourcing deals in
the coming couple of months. Company officials revealed
that one of the sourcing arrangements is being finalised
with Sun Pharma. While they refused to divulge the name
of the bulk drug, it is learnt that it is a cardiovascular
drug.
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Exide
to launch batteries for CVs
Chennai: Exide Industries Ltd plans to shortly
launch a battery specifically for commercial vehicles.
This is part of the company's thrust on the commercial
vehicles segment and rural markets to increase automobile
battery sales.
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Ashok
Leyland units to be 100% reliant on wind energy
Chennai: Ashok Leyland Ltd proposes to make its
Ennore, Hosur and Bhandara units "100 per cent wind
energy-reliant.
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Jindal
Vijaynagar to trade carbon emission
Chennai: Jindal Vijaynagar Steel can earn up to
$225 million over the next 10 years by trading with developed
countries the carbon dioxide emissions that it hopes to
reduce by using the less polluting Corex technology. The
company is awaiting clearance from the governement.
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HLL
Garden Reach contract workers to get 20 pc bonus
Kolkata: The crisis brewing at the Garden Reach
factory of Hindustan Lever Ltd (HLL) has been averted
after the contractors agreed to pay a bonus of 20 per
cent to its workers at the insistence of the West Bengal
Labour Minister, Mr Md Amin.
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Suven
Pharma, Pfizer plan research centre
Hyderabad: Suven Pharmaceuticals Ltd (SPL), the
Hyderabad-based company, has announced that it has entered
into an alliance with Pfizer Ltd and the Bombay College
of Pharmacy for setting up an Academy for Clinical Excellence
(ACE), claimed to be first of its kind.
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Kinetic
hopes to sell 60,000 units of Boss
Bangalore: Kinetic Engineering expects to sell
60,000 units of its newly launched four-stroke motorbike,
Boss, this fiscal, according to its Joint Managing Director,
Sulajja Firodia Motwani.
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Wipro
Tech: Pricing pressure flattening
Bangalore: Driven by strong volume growth in software
services, Wipro Technologies -the global IT services segment
of the diversified Wipro - recorded a revenue growth of
7.4 per cent on a sequential (quarter-on-quarter basis)
at Rs 679.10 crore in the second quarter ended September
30, 2002.
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