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Indian
Airlines hikes fares by 10%
New Delhi: Indian Airlines has increased its fare
by 10 per cent effective from 10 November 2002 following
the sharp increase in input cost as well as steep hike
in the fuel price.
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Jindal
Iron plans debt reduction
New Delhi: Soon after breaking into the black,
Jindal Iron & Steel Ltd has drawn up plans to further
consolidate its position.
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HLL
banks on price cuts for growth in haircare segment
Mumbai: The haircare division of FMCG major Hindustan
Lever is expecting a high double-digit growth following
the price cut initiated by the company for its shampoo
brands Sunsilk and Clinic Plus.
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Hyundai
sells 2,000 Accents in October
New Delhi: Leveraging on new Accent variants, Hyundai
Motor India has registered a 44.5-per cent increase in
Accent volumes with sales crossing 2,000 units for October
2002.
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India
Cements puts Visaka plant on the block
Mumbai: India Cements has quoted a price of Rs
530 crore for its Visaka cement plant ($90/t), which has
been put on the block by the company as part of its debt
restructuring exercise.
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SAIL
seeks goodwill price for Salem brand from Jindals
New Delhi: Steel Authority of India (SAIL) has
sought a goodwill price on the ‘Salem Stainless Steel’
brand from the Jindals over and above the book value for
Salem Steel Plant assets.
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Victor
takes over from Samurai
New Delhi: It was a ‘No Problem Bike’
that revitalised the company's fortunes in the early ’90s.
Having served its purpose for about a decade, the Suzuki
Samurai (100cc, two-stroke) has now ceased to exist on
TVS Motor’s portfolio.
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Waterbase
plans country's first seafood hotel
Mumbai: The Waterbase, one of the few corporate
ventures to survive the '90s slump in the aquaculture
industry, is now going in for a significant downstream
diversification.
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Gridco
looks beyond Orissa to reduce losses
Bhubhaneshwar: Burdened with huge losses every
month, Grid Corporation of Orissa (Gridco) is all set
to expand its operations to other states to make up for
the losses.
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IBM
says there'll be no glass ceiling for women
Bangalore: Men need not turn blue over this, but
IBM says it will make sure there is no glass ceiling for
women in its Indian operations, in line with its policy
worldwide.
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ITC
to lay more products on e-choupal
Kolkata: In a low-key but major initiative, ITC
is entering the field of horticulture, aquaculture, spices
and salt through its Secunderabad-based agri business
division. The division has decided to spread its e-choupal
procurement and marketing network to West Bengal, Kerala,
Maharashtra and Rajasthan for the new items.
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Godrej
Consumer Products, Geometric to stay 'public'
Mumbai: The Rs 4,000-crore Godrej group is committed
to two of its companies (Godrej Consumer Products Ltd
and Geometric Software Solutions Co) remaining public
in the long term.
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Andhra
Petro EGM on 24 December
Hyderbad: Andhra Petrochemicals Ltd (APL) proposes
to hold an extraordinary general meeting (EGM) on 24 December
2002 to consider the erosion of more than 50 per cent
of peak net worth as at the end of 31 March 2002.
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Motorola
R&D campus
Bangalore: Motorola Inc has announced plans to
set up one of India's largest captive R&D facilities
in Bangalore. The 2,80,000-sq ft campus for Motorola Global
software will integrate the two existing centres under
one roof.
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RPG
group, Dairy Farm pump fresh equity into FoodWorld
Kolkata: The RPG group, promoter of the FoodWorld
chain of supermarkets, and its international partner,
Dairy Farm International, have pumped in more equity into
FoodWorld Supermarkets Ltd (FSL), the company that manages
the chain.
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Jindal
Aluminium staggers its plans for
sixth extrusion plant
Bangalore: Reeling under an import duty of 20.8
per cent and facing the heat of competition, leading downstream
products player, Jindal Aluminium Ltd, has staggered its
plans for setting up its planned sixth extrusion facility
costing Rs 35 crore, its Chairman S R Jindal has said.
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Jindal
Aluminium to sign pact with KPTCL
Bangalore: Jindal Aluminium Ltd plans to sign a
10-year power purchase agreement with Karnataka Power
Transmission Corporation for its 2.3-MW wind energy plant
commissioned in September 1997.
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Lockout
at Sri Krishna Jute Mill
Eluru: The management of Sri Krishna Jute Mill
here declared lockout on 5 November evening, "apprehending
threat to its properties". The workers of the mill
have been on an indefinite strike for the past one month
in pursuance of their demands.
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Ogilvy
PR, Dua tie up for legal services
Chennai: Ogilvy PR has formed a strategic alliance
with Delhi-based Dua Consulting, a leading legal and regulatory
firm, to offer clients regulatory and public affairs services.
This offering is in response to a growing need for expert
intervention with government, regulatory and third parties,
and is in line with Ogilvy PR's portfolio of services
worldwide, said Balinder Singh, the Delhi-based Partner
of Ogilvy PR.
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GAIL,
Haldia Petro close to deal on SPV
New Delhi: GAIL, which does not make polypropylene,
will buy HPL's products and sell it in the northern markets,
while HPL will buy from GAIL certain grades of polyethylene,
which it does not manufacture and sell them in eastern
India complementing its own product range.
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TCS
revenue to shift to telecom service providers
Mumbai: Tata Consultancy Services is hopeful of
retaining the 18-20-per cent revenue from telecom practice
in the year ending March 2003. This is despite a global
slump in the telecom market.
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Eicher
Motors sales up 58% in October
New Delhi: Eicher Motors Ltd, a key player in the
5-11-tonne commercial vehicle segment, has recorded a
growth of 58 per cent in sales of its commercial vehicles
in October 2002 over the corresponding month last year.
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