Tata Teleservices to rename Hughes Tele, reconstitute board
Mumbai: Hughes Tele.com India Limited, which has been acquired by Tata Teleservices Limited, will be renamed Tata Teleservices (Maharashtra) Limited. The 'Hughes' brand name will be phased out to bring in TTSL’s 'Indicom' brand name for fixed line services and 'Mobitel' for the yet-to-be launched limited mobility service.
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Electrolux to foray into AC market
Mumbai: Electrolux Kelvinator Ltd plans to enter the airconditioner market during the middle of next year with niche products.
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Murugappa Group hikes stake in Godavari Fertilisers to 10.3%
Chennai: In its bid to become one of the biggest fertiliser makers in the South, the Chennai-based Murugappa group has enhanced its stake in the Andhra Pradesh government-owned Godavari Fertilisers and Chemicals Ltd to over 10 per cent through its subsidiary Coromandel Fertilisers (Coromandel) Ltd.
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AIG, Polaris Soft sign joint venture pact
New Delhi: AIG Offshore Systems Services Inc and Polaris Software Lab Ltd on Friday announced the formation of a joint-venture for software development.
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Warburg, Newbridge bid for Punjab Tractors
New Delhi: With financial investors like Warburg Pincus and Newbridge Capital joining the race for the Punjab Tractors stake, the deal could well be the first leveraged buyout corporate India has ever seen.
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NIIT's Q4 net dips 90% to Rs 1 crore
Mumbai: NIIT reported a sharp dip in its net profit and revenue for the year ending September '02, but has shown a sequential growth in its quarterly revenues.
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Apollo Hospital makes BPO foray
Chennai: Apollo Hospitals has bagged two contracts from US-based hospitals for medical process outsourcing.
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DD News claims 93% viewership after makeover
New Delhi: Watch out private news channels. Doordarshan News, though not aired on a separate channel anymore, has captured audience in cable and satellites homes as well.
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HK's Mandarin in tie-up talks with Grand
New Delhi: The Hong Kong-based premium chain, Mandarin Oriental, has entered the fray for a strategic tie-up with Umesh Saraf's The Grand in Delhi (earlier Grand Hyatt).
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Events of September 11 take the wind out of IA's balance sheet
New Delhi: Jolted by the impact of a double-digit slide in passenger traffic after 9-11, Indian Airlines has suffered a major blow on the revenue front during '01-02.
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Sundaram Clayton keen on Daewoo's foundry unit
Chennai: Sundaram Clayton is interested in picking up Daewoo Motor India's foundry facility.
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Lumax plans to split into 3 separate cos
New Delhi: The auto-component maker Lumax Industries is planning to demerge the company into three separate companies. The company has called its board meeting on 10th of this month to consider the demerger proposal.
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Hyundai Accent price hiked by 3%
New Delhi: Hyundai Motor India Ltd has announced an approximately three per cent increase in the price of its mid-sized sedan, Accent. The price hike reflects an increase in input costs and is currently applicable only on the GVS variant, according to company source.
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Bhagyanagar Wood Plast to close PVC unit
Hyderabad: Bhagyanagar Wood Plast Ltd, the PVC pipes manufacturer that diversified into software solutions business, has decided to close down its PVC pipes unit citing unviable operations of the business.
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BILT in supply talks with International Paper
New Delhi: Ballarpur Industries Ltd (BILT), a leading player in the writing and printing paper market in India, is in talks with the US-headquartered International Paper for supply of copier and other office machinery products.
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Parent to buy 49% Atlas Copco shares
Mumbai: Atlas Copco AB on Friday informed the Bombay Stock Exchange of its intention to voluntarily acquire 49.01 per cent of outstanding shares aggregating to 55,28,844 equity shares of its Indian subsidiary, Atlas Copco (India) Ltd, from the public.
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Kodak cash offer for balance stake in Indian arm
Mumbai: JM Morgan Stanley has informed the Bombay Stock Exchange that Kodak Ltd and Eastman Kodak Company are now making a final cash offer to purchase the outstanding public shareholding of Kodak India Ltd at Rs 350 per share payable in cash.
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RINL bags award for energy conservation
New Delhi: Rashtriya Ispat Nigam Ltd (RINL), which operates the Vizag Steel Plant, has bagged the National Energy Conservation Award 2002 in the integrated steel plants sector. The award will be presented by the Vice-President of India on December 14 2002.
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BEL gets award for best employer of disabled
New Delhi: Bharat Electronics Ltd (BEL) has for the third time received the National Award for Outstanding Performance as Employer of Persons with Disabilities. The award, instituted by the Ministry of Social Justice and Empowerment, is in recognition of the defence PSU's track record in offering placement and good work environment for the physically challenged, according to a BEL release
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`Meal Maker' acquisition helps Marico enter soya food segment
Mumbai: Marico Industries Ltd's foray into health foods segment with its recent acquisition of the brand `Meal Maker' is a natural follow through from its existing portfolio of edible oil product offerings, a senior company official said.
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Sri Adhikari takes over SABe TV
Mumbai: Sri Adhikari Brothers Television Network Ltd has informed the Bombay Stock Exchange that the company has decided to take over Channel SABe TV's business from its wholly owned subsidiary effective January 1, 2002.
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CRIDA ropes in pvt firms to make farm tools
Hyderabad: The Central Research Institute for Dryland Agriculture (CRIDA) has entered into an agreement with three private companies for the manufacture of farm implements for use in rain fed areas.
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Thomas Cook net up on growth strategies
Mumbai: Thomas Cook (India) Ltd yesterday announced an increase in net profit to Rs 19.32 crore for the 10 month-period ended October 31, 2002, as against Rs 9.12 crore earned in the previous corresponding period.
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