Stay order on Nocil sale dampens Reliance’s interest
Mumbai: Reliance Industries’ interest in the petrochemical division of National Organic Chemical Industries Ltd seems to have dampened following a Mumbai High Court diktat reversing the closure order of the company, under the Arvind Mafatlal group.
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Parke-Davis minority shareholders oppose swap ratio with Pfizer
New Delhi: Minority shareholders of Parke-Davis India Ltd have filed objections in the Bombay High Court against the proposed swap ratio for the merger of PDIL with Pfizer India.
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Cement demerger proposal within law, says L&T
Mumbai: Larsen & Toubro, in its reply to the legal notice sent by Grasim Industries’ solicitors, have reiterated the company’s stand that it had followed all procedures in proceeding with the cement division demerger.
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Cross-manufacturing propsal put on hold
Mumbai: The current faceoff between the Larsen & Toubro management and the AV Birla Group has resulted in the progress on the cement cross-manufacturing proposal virtually coming to a halt.
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Desai Brothers to set up factory in south
Pune: Desai Brothers Limited is set to take the south-Indian ‘appalams’ to the North in a few months’ time under the ‘Mother’s Recipe’ brand.
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Consumers WiLL rejoice as Tatas clear Trai hurdle
Mumbai: Tata Teleservices has obtained Telecom Regulatory Authority of India's approval for its WLL tariff plan, which will reduce cellular subscribers' bills by more than 70%.
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I3L's biggest BPO JV on the cards
Mumbai: The ink is yet to dry, but ITC Infotech India is poised to make one of its biggest JV announcements in the BPO space. ITC Infotech India, a wholly-owned subsidiary of ITC, is floating a joint venture with Nashville-based ClientLogic.
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Mumbai distributors ditch HLL, cite margin squeeze
Mumbai: A clutch of Hindustan Lever personal products distributors in Mumbai have cut their association with the company in the past few months, citing high stock pressures and low margins in a weak market.
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EBG India plans long-term pacts for raw materials
New Delhi: EBG India, the largest electrical steel manufacturer in the country and a part of ThyssenKrupp Electrical Steel, plans to enter into long-term contracts with primary steel producers that will ensure an assured supply of raw materials.
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MsourcE to tie up with Accenture for BPO business
Mumbai: MsourcE, the call centre subsidiary of MphasiS BFL Group, is soon expected to announce an alliance with the $11.57bn Accenture, one of the global biggies in the management consulting and technology service space.
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Reliance Info to tap RIL's network for handset sales
Mumbai: Reliance Infocomm plans to utilise the marketing and distribution network of Reliance group companies including Indian Petrochemical Corporation to sell its range of telecom products, mainly handsets.
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Madras HC directs IOC to provide jobs to families displaced
Chennai: The Madras High Court has directed Indian Oil Corporation, Chennai, (and its bottling unit at Athipattu near Chennai) to provide one job to each one of the families whose lands had been acquired for putting up Indian Oil's LPG bottling plant at Athipattu, as a measure to rehabilitate the displaced persons.
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Goetze board okays merger with subsidiaries
New Delhi: The board of directors of Goetze India Ltd has approved the scheme of amalgamation of Escorts Pistons Ltd (formerly known as Escorts Mahle Ltd) and Coupled Investments Pvt Ltd, both 100 per cent subsidiaries of the company, with Goetze India Ltd, subject to requisite approvals of the appropriate authorities.
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Hyatt Regency opens in Mumbai
Mumbai: Another 408 five-star rooms were added to the already existing 1,900-odd hotel rooms in the northern suburbs of the city with the launch of the Hyatt Regency, Mumbai, here.
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Jindal Strips to increase ferro chrome capacity
New Delhi: Jindal Strips Ltd, the largest stainless steel producer in the country, is planning to expand its chrome mining operations in Orissa. The company already has around 80 hectares of chrome ore mines near Sukinda in Orissa.
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IOC signs lubes supply contract with Tata Steel
New Delhi: Indian Oil Corporation Ltd has signed a three-year lubricants supply contract with Tata Steel. IOC will also provide the iron and steel major with technical services, company officials said.
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Apollo proposes to roll out truck radials from April
New Delhi: Truck and bus tyre major, Apollo Tyres Ltd (ATL) plans to roll out its truck radials from its Vadodara facility in April 2004. The company is currently implementing a $51-million project at Vadodara for manufacture of truck radials.
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Yamaha sees India as component hub
New Delhi: Japanese two-wheeler major Yamaha Motor Company has plans to develop India into a component hub. According to Masahiko Shibuya, Chief Executive Officer, Yamaha Motor India Pvt Ltd, a team of representatives from the Yamaha Motor Asian is currently in the country to study the component supplier facilities here and adjudge their competitiveness.
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