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Tata
Sons places Rs 125-crore NCDs with Central Bank
Mumbai: Tata Sons Ltd, the unlisted holding company
of the Tata group, signed a debenture trust deed in November,
2002 for an issue of 125 secured non- convertible debentures
at the face value of Rs 1 crore each with the Central
Bank of India.
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Panna-Mukta-Tapti
operatorship issue close to Resolution
New Delhi: After ten months of bickering, the operatorship
issue of Panna, Mukta and Tapti oil and gas fields appears
to be heading for a resolution with the British oil and
gas major BG Group proposing involvement of Indian partners
in award of multi-million dollar contracts.
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Volvo
Construction lines up slew of products for ’03-’04
New Delhi: Volvo Construction Equipment plans to
launch a slew of new products in 2003-04 in the Indian
market to take advantage of the burgeoning infrastructure
sector growth in the country.
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Mumbai
HC rejects McDowell civil suit against Shaw Wallace
Mumbai: The Bombay High Court has rejected the
civil suit filed by McDowell against the management of
Shaw Wallace, seeking early hearing in a suit seeking
ad interim injunctions against the latter’s management
and various other interventions in the affairs of the
company, Shaw Wallace said in a release.
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ONGC
may rush to market for Rs 10,000-cr payout
New Delhi: ONGC may hasten its plans to raise money
from the market. This is despite a full kitty, thanks
to the demand for a special dividend of roughly Rs 10,000
crore from the government. Public holding in ONGC is at
1.5 per cent while the government, financial institutions
and other investors together hold the rest.
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Reliance
Infocomm engages all & sundry
Mumbai: Reliance Infocomm, which has decided to
take the direct marketing route for its telecom services,
is believed to be tapping the existing base of stockbrokers,
insurance agents and property dealers in the run-up to
its ambitious basic and WLL-M services launch on Friday
(December 27).
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Sarabhai
plans to rejig operations
Ahmedabad: The Ahmedabad-based Ambalal Sarabahi
Group, with interests in pharmaceuticals and electronics
is in the midst of its second major restructuring in the
last ten years, which seeks to wipe off losses and give
a fresh lease of life to the ailing company.
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Agri-insurance
firms to get cracking in Jan
New Delhi: The long pending Agricultural Insurance
Company of India will finally go into operation in January
'03. Apart from General Insurance Company (GIC), which
has gone into refinancing, and its four erstwhile subsidiaries,
the ministries of agriculture and rural development will
also have stakes in the new company, which will replace
the National Agricultural Insurance Scheme (NAIS).
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Power
tariffs force Indal to close smelter unit
Mumbai: Indian Aluminium company (Indal), part
of the A V Birla group, has decided to shut down its smelter
at Alupuram in Kerala, with effect from January 1, 2003.
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ITC
Hotels plans overseas foray
Kolkata: ITC Welcomgroup Hotels with 44 properties
around the country is all set for a major foray into the
overseas market. India's third largest hotel chain is
looking at setting up hotels in New York, London and Singapore.
ITC Welcomgroup Hotels is a 72 per cent-owned subsidiary
of tobacco major ITC.
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Opto
Circuits buys US firm's patient division
Mumbai: Opto Circuits India (OCIL), which bought
over Hindustan Lever's digital thermometer division in
June this year, has now acquired the patient monitoring
division of Palco Laboratory, a California-based developer
and vendor of medical products.
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IOC
to unveil high-end fuel in 25 cities
New Delhi: After a lull of four months, Indian
Oil Corporation Ltd's high-end fuel `Premium' is set to
move out of Delhi. The company has plans to launch `IOC
Premium' petrol and `Super Diesel' in Gujarat before the
end of this month.
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Tata
Steel bags CII award
Mumbai: Tata Steel has bagged the Best Company
Trophy at the 15th Workskills National Competition organised
by the Confederation of Indian Industry (CII) and conducted
simultaneously at Bangalore and Mumbai.
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Pramati
to offer Web services to stay ahead
Hyderabad: Pramati Technologies, the application
server software and products company, has widened its
reach with strategic alliances and is now vying for a
larger footprint. The company is eyeing the huge untapped
domestic market including e-governance projects.
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Blue
Star upbeat on new line of business
Mumbai: Softwarre solutions provider Blue Star
Infotech Ltd (BSIL) has recently set up e-business services
practice as a new line of business.
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Maxima
Watches claims second spot in volumes
New Delhi: Lower segment watch makers, Maxima Watches,
has staked claim to the number two position in the market
in terms of volumes this year, leaving Timex and HMT behind
in the race.
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