Nabard opens special plantation cell
New Delhi: Stating that the Centre is fully aware of the crisis being faced by the plantation sector, disinvestment, commerce and industry minister Arun Shourie has said Nabard has set up a plantation industry cell for addressing the industry’s credit-related problems.
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Mardia goofs up with facts and figures
New Delhi: Mardia Chemicals chairman and managing director Rasiklal Mardia on Monday reiterated his offer to resign and make way for a professional manager if it would enable the revival of the sick company.
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Lufthansa adds 3 more flights in Bangalore-Frankfurt route
New Delhi: German airline Lufthansa will operate three additional flights from Bangalore to Frankfurt and vice-versa from January 15, 2003 under the ‘open skies policy’ announced by the government.
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CAT bags orders worth Rs 90 crore from EU
Pune: Orders to the tune of Rs 90 crore have been received by Indore-based Centre for Advanced Technology from laboratories in the European Union and more orders are likely to follow in the near future, Pune-based Patel Analog and Digital Measurement Company director Madhu Patel said.
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Biocon plans Rs 150-crore expansion
Bangalore: Biotech major Biocon India is gearing up for its Rs 150-crore plant expansion plans which will see the company set up an individual ‘Human Insulin’ manufacturing unit as well as a ‘Biologicals’ plant which will give an impetus to the company’s foray into recombinant drug technology products.
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SCI wants to maintain minimum tonnage level post-divestment
Mumbai: The board of Shipping Corporation of India has informed that a minimum level of tonnage should be maintained post-disinvestment, in case of asset stripping.
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Demerger challenged, Birlas send notice to L&T
Mumbai: Grasim Industries has upped the ante in its battle against Larsen & Toubro. The former has issued a legal notice, challenging L&T's move to demerge the cement business into a separate company.
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Mafatlal to be split into 3
Mumbai: Mafatlal Industries, the Mumbai-based flagship company of the Mafatlal group, will be split into three as part of a restructuring proposal cleared by the Board for Industrial and Financial Construction recently.
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BPL's stake claim may rock Idea merger
Mumbai: It's an Idea whose time hasn't come. An arbitration notice by BPL to Idea more or less formalises the death of the merger proposal between the two.
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Maruti, Telco keen on Daewoo assets
New Delhi: With the deadline for submitting bids for the beleaguered Daewoo Motors India nearing, top players from the automobile industry seem to be queuing up to get a bit of the action.
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After Daimler, Hyundai zooms in on LCVs now
Kolkata: With the commercial vehicle sector clocking impressive growth this fiscal, Indian truckmakers could soon wake up to some multinational competition. Close on the heels of the DaimlerChrysler team, which was scouting for CV opportunities in India, comes news of another MNC carmaker looking at truck business.
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Taj group to give resorts a Rs 80-cr makeover
Mumbai: The Taj group of hotels is giving a face lift to its resort hotel properties in leisure destinations. The group, over the last few months, has invested Rs 65 crore across its prime resort properties at Kerala, Chennai, Goa and Rajasthan.
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Yash Chopra plans a Rs 60-cr dream factory
Mumbai: Film producer Yash Chopra's proprietary company Yash Raj Productions is setting up a modern film studio in Mumbai's suburb Andheri for Rs 60 crore. The studio will begin commercial production in '04. After completion, the studio will offer two lakh sq ft commercial space and will offer modern processing and shooting facilities to the film industry.
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Reliance Info to be largest user of corDECT
Mumbai: Reliance Infocomm will become the largest user of the indigenously developed corDECT technology, a wireless system that is robust and adapted to harsh environmental conditions than CDMA.
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'Hutch' takes over in Gujarat & Kolkata
New Delhi: LI KA Shing's Hutchison Telecommunications is pulling out its two regional cellular brands Command (in Kolkata) and Celforce (in Gujarat) and launching the 'Hutch' brand in both circles.
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Bailley to hit the international air circuit
Mumbai: Expanding its footprint to the international airlines, Parle's Bailley has signed up with foreign airlines Emirates, Saudi and Lufthansa for supply of 200 ml bottled water for inflight consumption.
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Bharti to merge three businesses
New Delhi: Bharti Televentures is merging its fixed line, long distance, broadband and VSAT businesses into a single entity called Bharti Infotel. With this, three companies Bharti Telenet, Bharti Telesonic and Bharti Broadband Networks will be merged into the new company.
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Satyam Infoway is now Sify; new faces on board
Hyderabad: The shareholders of Satyam Infoway Ltd yesterday approved the company's change of name to Sify Ltd. Further, the board is to be reconstituted, following the entry of new investors into the company.
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Sahara TV going digital
Mumbai: Sahara TV, the 24-hour free-to-air general entertainment Hindi channel, has announced that it has set up its own modern multiple channel digital uplink earth station at Noida with both playout and uplinking facility directly from India.
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Hindalco Gurdari mines shut down temporarily
Mumbai: Hindalco Industries Ltd has informed the Bombay Stock Exchange that operations at its Gurdari mines have been temporarily closed.
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Scorpio's new version with engine variant by March
Mumbai: Mahindra & Mahindra is all set to make its popular Scorpio model more affordable with plans being firmed up to launch a regular natural aspirated engine version of the sports utility vehicle.
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India Forge plans buyback of 3.75 lakh shares
Mumbai: India Forge and Drop Stampings Ltd has filed a draft letter of offer with the Securities and Exchange Board of India (SEBI) for buyback of shares.
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Kesoram to buy back at Rs 40
Mumbai: Kesoram Industries Ltd informed the Bombay Stock Exchange that its board had decided to buy back ordinary shares of the company through market operations at a price not exceeding Rs 40 a share for an aggregate amount not exceeding Rs 18.5 crore.
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Sardas lose battle for BSL
Mumbai: The Sardas' attempt to acquire a 30 per cent equity stake in the textile company, BSL Ltd, through an open offer has failed Merchant banking sources said that the response to the Sardas' offer was poor.
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Sami Labs bags R&D award
Bangalore: The City-based Sami Labs Ltd has bagged this year's national award for in-house R&D efforts from the Department of Scientific & Industrial Research (DSIR) in the category of Chemicals and Allied Industries.
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UB in talks for major stake in Roy's Triumph
Mumbai: The UB Group is in talks to acquire a majority stake in Triumph Distilleries & Vintners Ltd, which recently took over Guinness UDV's Indian Made Foreign Liquor (IMFL) business. Industry veteran Deepak Roy holds 15 per cent stake in Triumph.
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Deloitte advises Pennar to sell Isnapur unit
Hyderabad: Deloitte Haskins & Sells (DHS) has advised the management of Pennar Industries Ltd (PIL), the Hyderabad-based ailing cold rolled steel strips (CRSS) manufacturer, to hive off the CRSS facility of the company located at Isnapur in Medak district of Andhra Pradesh and utilise the sale proceeds to retire a part of the debt.
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Haldia Petro to focus on western, northern markets
Kolkata: Haldia Petrochemicals Ltd (HPL), the three-way joint venture company, is now shifting its emphasis from the southern market in favour of the west and the north. Company sources said that HPL now had a 22 share of the total petrochemicals market, coming a distant second to Reliance Industries Ltd (RIL), which commands a 47 per cent share.
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