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SHV
Energy to merge some companies in revamp drive
New Delhi: Global energy major SHV Energy has finalised
a major restructuring of its operations in India, which
seeks to reduce the number of its nine downstream operating
companies by a process of amalgamation and demerger.
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Telco
may roll out Indigo in January
Mumbai: Telco plans to launch the Indigo sedan
in January next year. The car, which was slated to debut
in October, will be rolled out commercially in the last
quarter of the current fiscal.
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Coca-Cola
to soon launch ready-to-drink coffee, tea
New Delhi: Coca-Cola will now make 'Georgia'its
ready-to-drink coffeeand tea at highly affordable prices
through out large number of outlets taking on the likes
of HLL and Nestle in the largest beverage segment in the
country.
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Philips
to buy out local shareholders in PCB India
Mumbai: Philips is buying out the Indian shareholders
of PCB India, involved in printed circuit boards. After
the acquisition, the latter will become a wholly-owned
subsidiary of Koninklijke Philips Electronics (KPE) NV.
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Mirc
to leverage Onida brand for audio, AC foray
Mumbai: To reduce dependence on a single product
for growth, CTV major, Mirc Electronics is venturing into
the audio, air-conditioner and the home appliances market
to leverage the strength of the Onida brand.
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RIL
to raise polyester capacity by 3 lakh tonnes
Mumbai: Reliance Industries (RIL), the second largest
polyester-maker in the country, is increasing its polyester
capacity by 3 lakh tonnes per annum by June '03.
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MUL's
diesel Esteem takes off in Punjab
New Delhi: With over 1.6 lakh Esteems on Indian
roads, MUL, which has now launched the diesel version
powered by Peugeot TUD5 engine, is now looking at Punjab
including Chandigarh for a step up in its sales.
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OM
Kotak's positive about AIDS victims
Mumbai: The AIDS epidemic in India has received
more attention over the last 48 hours than it ever will
in the next 12 months, with Microsoft chairman Bill Gates
announcing a $100m (Rs 482 crore) grant to fight the killer
disease in India.
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VIP
to make furniture for children
Mumbai: VIP Industries, the Rs 500-crore turnover
luggage and moulded furniture manufacturing group, is
now planning to diversify into marketing kids furniture.
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EIL
to pay Rs 600-cr dividend
New Delhi: After ONGC, it now seems to be the turn
of Engineers Indian to cough up a fat special dividend
to bail out a government that's struggling to make ends
meet in the wake of revenue shortfalls and the failure
of disinvestment to yield the targeted amount of Rs 12,000
crore.
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Zurich
to buy Raymond's 24% in AMC
Mumbai: Zurich Asset Management Company is buying
out the Vijaypat Singhania-owned Raymond Group's 24.03%
stake in the joint venture company, Zurich Asset Management
Company (India) for a consideration of Rs 21 crore.
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Bannari
Amman Sugars generator order for BHEL
Mumbai: Bharat Heavy Electricals Ltd (BHEL) has
an order worth Rs 15.5 crore for supply of a 20 MW steam
turbine generator to Bannari Amman Sugars Ltd for their
Nanjangud sugar factory near Mysore.
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DCI
pays Rs 21-cr dividend to Govt
New Delhi: Dredging Corporation of India (DCI)
has paid a dividend of Rs 20.7 crore to the Union Government
for 2001-2002 on the strength of a Rs 500-crore turnover,
which was 25 per cent higher than the previous year.
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PepsiCo
moves to create regional market units
New Delhi: Soft drinks major PepsiCo India Holdings
has undertaken an exercise to reconfigure its existing
regional management structure.
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Govt
rejects Shell plea to waive divestment rule
New Delhi: The Government has rejected outright
global energy giant Shell group's request for a waiver
of the mandatory divestment of 26 per cent equity stake
in its Indian subsidiary Shell India Private Ltd in favour
of resident Indian shareholders.
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BIFR
calls for winding up of Triveni Structurals
Mumbai: In the light of State Bank of India's (SBI)
report, the Board for Industrial and Financial Reconstruction
(BIFR) has concluded that the ailing Triveni Structurals
Ltd (TSL) cannot be revived.
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ABB
hopes to maintain margins at 10 per cent
New Delhi: Engineering automation firm ABB Ltd
expects its operating margins to stay at 10 per cent in
the current financial year. The operating margins slipped
to 8.4 per cent in the September quarter from 10.4 per
cent sequentially as its offerings mix changed in favour
of products.
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IRFC
pays Rs 100-cr dividend, posts Rs 292-cr profit
New Delhi: Indian Railway Finance Corporation (IRFC)
has posted a profit after tax of Rs 291.8 crore for 2001-02
and declared a dividend of 43 per cent amounting to Rs
100 crore. The dividend is the highest-ever paid by IRFC
to the Indian Railways.
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DPC
E-chip, CDs with court receiver
Mumbai: The crucial e-chips and coded CDs, which
were removed by the Dabhol Power Company from the project
site in December 2001, on security grounds, have been
brought back at the plant and were in the possession of
the Bombay High Court receiver.
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Castrol
India plans to focus on value-added products
Mumbai: In a bid to outperform in the industry,
Castrol India Ltd plans to focus on value-added products,
while moving out of low-value products in its portfolio.
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Seagram
launches Ron Amigoz dark rum
Mumbai: Seagram India has launched Ron Amigoz,
making a foray into dark rum category. The company is
also looking at exporting the product to countries in
the middle-East and Europe where Seagram already has a
presence.
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