Tata Power net dips 45% in Q2; H1 profit lower by 34%
Mumbai: Tata Power Company has recorded a 44.87 per cent drop in net profit to Rs 134.93 crore in the second quarter of the fiscal ended September 30, 2002 as against a net profit of Rs 224.81 crore in the corresponding quarter of the previous fiscal.
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GCPL okays buyback at Rs 175 a share, posts 32% higher profit
Mumbai: The board of Godrej Consumer Products Ltd has approved a third buyback from open market at a price not exceeding Rs 175 per share. The maximum outlay for the buyback is Rs 10 crore and is subject to shareholders’ approval.
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Jubilant Organosys Q2 net up 134%
New Delhi: Speciality chemicals manufacturer Jubilant Organosys has reported a 134 per cent rise in net profit to Rs 12.90 crore and a 12 per cent growth in net sales to Rs 171.10 crore for the second quarter ended September 2002.
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CSEB signs MoU with NTPC on power project
Mumbai: The Chhattisgarh State Electricity Board has entered into a memorandum of understanding with the state-run National Thermal Power Corporation for the 2,000 mw of pithead thermal power project and the power generated from the project would be exclusively provided to Gujarat, Delhi and Punjab by pooling in their resources.
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US FDA finds DRL’s NDA ‘approvable’
Hyderabad: Dr Reddy’s Laboratories Ltd has received the approval letter for Amlodipine Maleate. The US Food and Drug Administration has determined the New Drug Application submitted by the company for Amlodipine Maleate as
‘approvable’.
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P&G sniffs gold on Vicks jubilee
Mumbai: Procter & Gamble Hygiene and Health Care has kicked off an aggressive marketing plan for its Vicks brand, involving deeper rural penetration and consumer promotion offers to perk up flagging sales.
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Reliance to shift IPCL focus to speciality
Mumbai: The Reliance Group, which took over Indian Petrochemicals Corporation nearly four months ago, has now prepared a blueprint for its future.
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Silverline to report results by Nov 29
Mumbai: Mumbai-based software services company, Silverline Technologies, has informed the US capital market regulator, Securities and Exchange Commission, that it will be able to submit its full year accounts only by November 29, '02.
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LG enters PC market, rides Linux
Bangalore: Korean consumer durables major LG on Tuesday entered the personal computer market with two low-priced models. Interestingly, LG also became the first Indian PC maker, which will be bundling its entire range of PCs (currently two) with the open software Linux.
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Xerox plans $1-bn blitz for marketing new products
New Delhi: Xerox Modicorp has chalked out a $1m marketing plan for this year and probably a bigger one for next year. And, aided by a slew of product launches, the company expects to not just stall its falling revenues but increase it in the years to come.
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Adlabs plans to set up Imax theatre in Capital
Mumbai: Delhi too may get an Imax theatre, if the Manmohan Shetty-promoted media company, Adlabs, has its way.
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GM's Vectra to roll out in Dec with Rs 16-17 lakh tag
New Delhi: American auto giant General Motors is gearing up for some serious action over the next 12 months, where it could be juggling with a clutch of  brands under the global GM fold in different price and user segments.
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Reliance Info shifts staff to Knowledge City
Mumbai: Reliance Infocomm has shifted over 3,000 employees from its various offices in Mumbai to its new 132-acre office in satellite city,Navi Mumbai.
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Bal Pharma launches new anti-BP drug
Bangalore: Bal Pharma is set to enter the Candesartan-based
anti-hypertensives segment with its latest brand, Ipsita. The new drug will be Bal's fourth in the anti-hypertensives segment.
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Revathi Equipment pays Rs 10-cr fee to ex-owners
Coimbatore: After the share buy-out deal and takeover, it is time for safeguarding its market, men and more importantly its clients for the new promoters of the Coimbatore-based Revathi Equipment Ltd.
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Indigo to hit the roads only in New Year
Mumbai: Car buyers waiting to have a dekho or may be purchase the Indica's sedan sibling - Indigo - will now have to wait till the New Year before they can get behind the wheels.
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Revathi board revamped
Coimbatore: Revathi Equipment Ltd, has reconstituted its board of directors after the acquisition of the company's majority shares by the Utkal Investments Ltd, a member of the Rennaisance group in August last.
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Cheque case: Proceedings quashed
Chennai: The Madras High Court has quashed the proceedings against the former director of M/s Srivari Investments Private Ltd, Mr S.Venkataraman, instituted by the Chennai Metropolitan Magistrate under Sections 138 and 142 of the Negotiable Instruments Act, on the ground that the person accused was
not connected with the day-to-day affairs of the company, which issued the relevant cheque.
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Samsung allowed to buy out Indian partners in jt venture
New Delhi: The Government yesterday permitted Samsung Electronics Company Ltd of Korea to buy out the Indian partners in its Indian joint venture, Samsung India Electronics Ltd and convert it into a wholly-owned subsidiary.
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Shriram group wind energy plant inauguration today
Bangalore: The 10.2 MW wind energy plant, set up by the Chennai-based Shriram group at Chitradurga, which started generating power from last month, will be formally inaugurated by the Minister of State for Energy, Mr Basavaraj Patil, on Wednesday.
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K.K. Modi arm, Apollo Int'l set up management varsity
New Delhi: An investment arm of the K.K. Modi Group has entered into a 50:50 joint venture partnership with Apollo International Inc USA, to set up the Modi Apollo International Institute (MAII) the Capital.
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German co invests Rs 47.5 cr in Usha Beltron
Bangalore: DEG, a German investment and development company specialising in long-term project and corporate financing, has agreed to invest Rs 47.5 crore in Usha Beltron Ltd (UBL), the flagship company of the city-based Usha Martin group.
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HCL Tech warns of lower sales, profit in next two quarters
Mumbai: HCL Technologies Ltd is likely to report a drop in its sales and profits for next two quarters as the company continues to rationalise its client base, the Chief Financial Officer, Mr Arun Duggal, told analysts in a post-earnings call.
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