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Bajaj
Auto Q2 profit dips 8% to Rs 132 crore
Mumbai: Two-wheeler major Bajaj Auto Ltd has recorded
an 8.14 per cent decline in net profit at Rs 132 crore
for the second quarter ended September 30, 2002 as compared
to Rs 143.7 crore in the same period of the previous fiscal.
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Hindalco
Q2 net down 25% to Rs 125 crore
Mumbai: AV Birla Group flagship, Hindalco Industries
Ltd has reported a 25 per cent drop in net profit to Rs
125.1 crore for the second quarter of the fiscal ended
September 30, 2002 as against a net profit of Rs 167.1
crore in the same quarter of the previous fiscal.
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Aptech
net rises to Rs 2.34 crore
Mumbai: IT education company Aptech Ltd’s
net profit for the quarter ended September 30, 2002, rose
to Rs 2.34 crore, as against 1.06 crore posted in the
quarter ending June 30, 2002.
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CMC
net dips 50% to Rs 5 crore
Mumbai: CMC Ltd’s net profit for the quarter
to September 30, 2002, dipped 50.24 per cent to Rs 5.20
crore as against Rs 10.45 crore in the same period of
last year.
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Hindustan
Lever eyes rural India for Pepsodent push
Mumbai: Hindustan Lever Ltd is pushing oral care
brand Pepsodent in rural India with a country-wide pitch
aimed at 10,000 villages initially.
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AVB
to rope in global ally for chem biz
Mumbai: The Aditya Birla group is planning to rope
in a strategic partner as part of a major expansion plan
for its chemicals business. Senior group executives have
recently held exploratory talks with US chemical majors
for an alliance.
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Bharti
to foray into CDMA services
New Delhi: Bharti Enterprises, the face of cellular
mobile telephony in India and prime advocate of GSM technology,
is joining the CDMA bandwagon.
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Samsung
to buy out 26% Videocon stake in SIEL
Kolkata: Samsung Electronics, Korea will buy out
the 26% stake in Samsung India Electronics (SIEL), held
by Videocon, through group company - Reasonable Computer
Solutions.
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Reliance
Info plans phased ISD rollout in '03
New Delhi: Reliance Infocomm is ready with its
international long distance foray. The company plans to
roll out its ILD services in a phased manner, starting
early next year.
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Glaxo
zeroes in on two cos for Gujarat plant sale
New Delhi: Glaxosmithkline Pharmaceuticals has
shortlisted two Indian pharma companies for selling off
its bulk drug plants in Ankleswar (Gujarat).
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ITC
ups EIH stake to 14.9%, nears open offer limit
Mumbai: ITC has marginally increased its stake
in EIH to 14.9% during the three months ended September.
The move has sparked speculation about ITC’s intention
regarding one of the most prestigious hotel chains in
the country, which owns and manages the Oberoi group of
hotels.
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Hyundai
to roll out new Sonata with Rs 16-lakh tag
New Delhi: Korean carmaker Hyundai is launching
a more powerful version of its premium luxury car, Sonata,
with an efficient V6 2.7-litre engine and automatic transmission
(AT), at an estimated ex-showroom price of around Rs 16
lakh to Rs 16.3 lakh, on Wednesday.
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Satyam
to set up 100% unit in China
Hyderabad: Failing to get a ‘trading branch’
status from the Chinese government, Satyam Computer Services
has decided to open a 100% subsidiary in China.
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Colgate
Q2 net up 15% despite 10% fall in sales
Mumbai: Colgate-Palmolive (India), the country’s
largest toothpaste maker, has posted a 15% rise in net
profit to Rs 19 crore for its second quarter ended September,
compared with Rs 16.5 crore in the corresponding period
last year.
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Satyam
Q2 net dips 12% as staff costs surge
36%
Hyderabad: Despite a surge in software exports
income, Satyam Computer Services has registered an 11.9%
drop in net profit for the second quarter ended September
30, '02 on account of a spurt in expenses, accompanied
by a sharp fall in other income.
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Schwing
Stetter to convert loans in Indian arm into equity
Chennai: Schwing Stetter (India) Pvt Ltd, a wholly-owned
subsidiary of the German company Schwing Stetter, has
sought the RBI's permission to convert the loans given
by the parent company, into equity.
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Rallis
transfers urea marketing to Tata Chem
Mumbai: The boards of Rallis India Ltd and Tata
Chemicals Ltd have decided to transfer the urea marketing
arrangement from Rallis to Tata Chemicals with effect
from April 1, 2002.
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KAPL
launches cardiovascular drug
Bangalore: Karnataka Antibiotics & Pharmaceuticals
Ltd (KAPL) has launched Taspin, its new fixed dose cardiovascular
drug with anti-platelet combination.
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Kudremukh
case adjourned
New Delhi: The Supreme Court on Wednesday adjourned
hearing of the public interest litigation against Kudremukh
Iron Ore Company Ltd (KIOCL) initiated by the non-Governmental
organisations (NGOs) and environment protection groups.
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Sarovar
Park to launch property in Gangtok
Pune: Hospitality chain Sarovar Park Plaza is set
up to become the first branded hotel chain to have a property
in Gangtok with the launch of a boutique hotel there scheduled
for summer 2003.
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Infosys
in alliance with Nigerian co
Hyderabad: Software major Infosys Technologies
yesterday announced that it has entered into an alliance
with Kakawa Discount House, Nigeria, a discount house
formed by a consortium of key banks in Nigeria.
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vMoksha,
S1 Corp join hands
Bangalore: The Bangalore-based vMoksha Technologies
and the US-based S1 Corporation have joined hands to set
up a software development centre in Pune.
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Linc
Pen launches new product
Kolkata: The Rs 58-crore Linc Pen & Plastics
Ltd, with a market share of around eight per cent in the
organised segment of writing instruments, expects to maintain
a 10 per cent growth in turnover this fiscal.
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Chamundi
Silks aims at Rs 75-cr turnover by '04
Bangalore: The Rs 22-crore Bangalore-based Chamundi
Silks, which recently forayed into the soft silk saris
segment, hopes to achieve a turnover of Rs 75 crore by
2004, according to Vairavan, Marketing Manager, Chamundi
Silks.
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