Tata Engg profit seen at above Rs 65 crore
Mumbai: Buoyed primarily by an upturn in commercial vehicle sales, Tata Engineering is expected to post a net profit upwards of Rs 65 crore for the September-ended quarter, according to analysts’ projections.
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High level inspection team to visit Dabhol Plant today
Mumbai: A high level inspection team comprising MSEB, IDBI, NTPC, GE, Bechtel and Central Electricity Authority would have at least 100 points on their check-list during their visit to the Dabhol plant, commencing from October 28.
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Tata Chem set to launch new growth initiatives
Mumbai: Tata Chemicals Ltd which had earlier expressed its intention to explore new avenues of growth, has stated that it will be ready to do so in six months to a year.
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United Phosphorus net rises 32%
Mumbai: United Phosphorus Ltd has reported a 32 per cent increase in net profit at Rs 16.39 crore for the quarter-ended September 30, 2002 as compared to Rs 12.38 crore for the corresponding period in the previous fiscal.
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Air Sahara to buy 11 Airbus aircraft for $400m
New Delhi: Air Sahara, which is gearing up for a major expansion, is on the verge of finalising a deal with Airbus for the acquisition of 11 aircraft at a cost of $400m.
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Bajaj Auto plans VRS for 1,000 more workers
Mumbai: The two-wheeler major has reduced the ranks of its management by around 550, and the next plan on the agenda is to bring down its workforce strength by another 1,000 in the current financial year.
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UK's Pearson signs $20m deal with Mentorix
Mumbai: UK-based media and publishing group Pearson has decided to outsource a substantial portion of its content creation and editorial service work in learning to Mumbai-based Mentorix. The contract is said to be worth close to $20m (Rs 100 crore) spread over two years and will involve creating a new team for Pearson in Mumbai.
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TCS ties up with NEC of Japan to expand IT base
New Delhi: Tata Consultancy Services, has signed an agreement with Japanese hardware maker NEC to collaborate in four areas security products and solutions, sale of NEC supercomputers, e-government solutions, web integration and software development.
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NTPC enters distribution through TNEB tie-up
New Delhi: National Thermal Power Corporation (NTPC) is all set to make a foray into distribution. The company has signed up an agreement with Tamil Nadu Electricity Board (TNEB) to set up a 1000 MW coal-based power project in the state on a joint venture basis.
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IndAmEx gets 2 new members, loses one
Mumbai: The direct container service from the Indian subcontinent to the US east coast, IndAmEx, has attracted new players into its fold. In an effort to boost trade with the US, India’s single-largest trade partner shipping lines APL and Hapag-Lloyd will join the IndAmEx consortium by month-end.
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Telecom Consultants to offload 20% in Hexacom
New Delhi: Government-owned Telecom Consultants India (TCIL) has decided to sell 66% of its holding in Hexacom, a cellular service provider in Rajasthan with 70% market share.
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Hyatt to part ways with Saraf in Delhi
Mumbai: Grand Hyatt Delhi could soon carry the JW Marriott tag, as US hospitality major Hyatt International and Umesh Saraf (the promoter of the Delhi hotel property) are set to part ways, say company officials.
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Accor shifts focus to masses, plans budget hotels
New Delhi: With three consecutive flop hospitality ventures in India in last 12 years - Sofitel, Novotel and Mercure - Accor Hospitality has decided to change its strategy and target the masses instead of positioning itself as a four to five-star category hotel.
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Wockhardt plans US, Europe foray
Mumbai: Aggressively eyeing regulated markets like Europe and US, leading pharmaceutical company Wockhardt is developing non-infringing processes for some drugs through biotechnology.
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DoT may slash licence fees of operators
New Delhi: The Department of Telecommunications (DoT) is evaluating a proposal to slash the licence fees to seven per cent of their annual gross revenues (AGR).
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