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Reliance
steps on big gas in Andhra Pradesh
New Delhi: Reliance Industries has stumbled upon
one of the largest gas reserves in the country in Andhra
Pradesh's Godavari basin. The reserves are to the tune
of 40-50m cubic metres per day.
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Kawasaki
to provide parts for Bajaj's 180-cc mobike
Mumbai: Bajaj Auto yesterday rolled out the 1,00,000th
Pulsar motorcycle from its Chakan plant, near here, within
a year of its launch in November ’01. Set to roll
out next month is BAL’s 92 cc Byk (pronounced bike),
which will be manufactured at its Akurdi plant.
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PeopleSoft
ties up with Satyam for ERP tools
Hyderabad: Satyam Computer Services has formed
an alliance with application software provider PeopleSoft
India to implement the latter’s range of enterprise
solutions while providing strategic consulting to its
clients.
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Gaitonde
seeks strategic partner for shoe brand
New Delhi: The Rs 105-crore Gaitonde Group is scouting
for a ``strategic partner or a financial investor’’
to strengthen its established high-end formal leather
shoe brand `Gaitonde’. The move follows the group’s
inability to commit enough resources to sustain the brand
in the domestic market.
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Transworks,
Cisco in call centre deal
Mumbai: Mumbai-based Transworks has signed up Cisco
Systems to set up its new 400-seat facility IP enabled
call centre in Bangalore.
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IA
to have more Gulf flights
New Delhi: Indian Airlines has decided to increase
its frequency in the Gulf sector from next week, as the
winter rush starts. New connections would be launched
and frequencies in the existing destinations would also
be increased, the airline said in a recent statement.
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Sun
Pharma net up 11% to Rs 53 cr, sales rise 10%
Mumbai: Sun Pharmaceutical Industries has posted
a net profit of Rs 53.3 crore in the second quarter of
‘02-03, up nearly 11% from the corresponding period
last year, even as lower exports and competition in the
domestic market took its toll on sales growth. Net sales
rose 10% to Rs 216.6 crore from Rs 196.2 crore.
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German
Remedies, Ranbaxy tie up to market urology drug
Ahmedabad: German Remedies, has signed an agreement
with Ranbaxy for marketing the latter’s new urology
drug. The generic name of the drug is Tolterodine. The
drug, to be manufactured by Ranbaxy, would be marketed
by GRL.
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GRL
to buy 5 trademarks from Zydus
Mumbai: German Remedies has decided to buy trademarks
for its five brands from Zydus International, the wholly-owned
Irish subsidiary of GRL’s parent firm Zydus Cadila
Healthcare.
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Britannia
Q2 net up 4% to Rs 26 cr
Mumbai: Britannia Industries on Monday reported
a marginal increase in its second quarter net profit at
Rs 26.20 crore against Rs 25.30 crore in the corresponding
quarter of previous year.
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Nirma
Q2 net soars 50% to Rs 52 cr
Mumbai: Nirma has posted a 49.54 per cent increase
in net profit at Rs 51.49 crore for the second quarter
ended September 30 as compared to Rs 34.43 crore in the
same period last year.
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Eveready
net rises 78%
Kolkata: Eveready Industries India Ltd on Monday
reported a 78 per cent increase in net profit and 11 per
cent increase in income from operations for the three
months to September 30, 2002, compared with the same quarter
of the previous fiscal.
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Eicher
Cuts Q2 Losses On Back Of Sales Rise
New Delhi: Eicher Ltd has reduced its losses to
Rs 2.33 crore in the second quarter ended September 2002,
from Rs 3.87 crore in the corresponding period previous
year.
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Gillette
turns around with Rs 8 crore net
Mumbai: Gillette India Limited on Monday announced
a net profit of Rs 8.10 crore for the third quarter ended
September 30, 2002 as against a net loss of Rs 3.55 crore
recorded during the corresponding quarter of last year.
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IBP
inks pact with IFTEX
New Delhi: IBP Co Ltd, the oldest oil marketing
company operating in India and a subsidiary of Indian
Oil Corp, has entered into a strategic alliance with IFTEX
Petrochemicals Ltd to market fuel additives and car care
products through IBP’s 1,500 retail outlets spread
over the country.
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Fitch
puts GACL NCDs on rating watch
New Delhi: Fitch Ratings India has put Gujarat
Ambuja Cements’ Rs 450 crore ‘AAA (ind)’
rated non-convertible debentures on rating watch with
evolving implications.
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Essar
Power, Indal keen on carbon trading
Kolkata: Essar Power Ltd, which is in the process
of changing from naphtha to natural gas as feedstock for
its power plant at Hazira, is working on trading in the
carbon dioxide that it could save through emission reduction.
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Madras
Cements to make spray plasters
Chennai: Madras Cements Ltd has set up a Rs 15-crore
plant at Sriperumbudur, about 50 km from here, to manufacture
a range of spray plasters to be used by the construction
industry. The plant, with a capacity of 40 tonne per hour,
is expected to begin early next month and the products
will be launched shortly thereafter, according to company
officials.
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Corel,
Trifin sign pact for distribution
New Delhi: Canadian software maker, Corel Pty Ltd,
said it has signed a distribution agreement with Trifin
Technologies to strengthen its operations in India.
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India
Nippon announces bonus
Chennai: The board of directors of India Nippon
Electricals Ltd has announced a bonus issue of shares,
in the ratio of seven shares for every ten held. The issue
would capitalise Rs 3.32 crore of the free reserves.
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Low
sugar prices take toll on Balrampur Chini
Kolkata: Sugar major Balrampur Chini Mills Ltd
recorded a mixed result in the second quarter of 2002-03.
While its turnover increased by 65 per cent, net profit
suffered a setback and fell by 35 per cent compared to
the corresponding quarter of 2001-02.
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CPCL
gains on global crude prices
Chennai: Higher prices of petro-products, which
have moved up in sympathy with the higher international
crude oil prices, have enabled Chennai Petroleum Corporation
Ltd to turn in better results for the quarter ended September
2002.
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