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EIL
bags BPCL's hydrocracker contract
Bharat Petroleum Corporation Ltd (BPCL) has appointed
Engineers India Ltd (EIL) for implementing the hydrocracker
unit as part of its refinery
modernisation project on conventional basis, according
to a company release.
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Ford
to drive in Fusion in early 2004
Car manufacturer Ford India ltd (FIL) is all set to get
ahead in the highly competitive Indian passenger car market
and is firming up plans to launch its debut car in Europe,
the Ford Fusion in the domestic market.
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Godrej
Ind cancels 1.3 crore shares
Godrej Industries Ltd has informed the National Stock
Exchange that its paid-up capital has fallen to Rs 29.19
crore (4.86 crore shares) from Rs 37.03 crore (61.7 crore
shares) following the buyback programme.
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CII
suggests cut in corporate tax rate
Simplification of procedures for deduction of TDS and
enhancing the limit for compulsory audit from Rs 40 lakh
to Rs 1 crore also figure in CII's list of demands.
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OC
willing to buy out govt stake in IBP
Indian Oil Corporation (IOC) is willing to buy out the
remaining 26 per cent government equity in IBP Ltd, making
it a 100 per cent IOC subsidiary, according to M S Ramachandran,
chairman and managing director of IOC.
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Escorts
to expand healthcare service
The new Escorts Hospital and Research Centre will be formally
thrown open on January 9. Escorts already has an hospital
at Faridabad and the new hospital is on the same premises.
It was built to plug the demand for quality healthcare.
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KSIDC
signs MoU for truck tyre unit
Kerala State Industrial Development Corporation (KSIDC)
has signed a memorandum of understanding with P M Shamsudheen,
chief promoter of Road Stone Tyres India Ltd, for the
establishment of a truck tyre unit.
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SILK
signs pact with Chinese firm
The Kerala state-owned Steel Industrials Kerala Ltd (SILK)
has signed an agreement with Hunan Chenzhou Electric International
Development Corporation (HCIDC) of China for the manufacture
of small hydroelectric turbines and equipment in the state.
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Jet
may do a Lufthansa, to spin off cargo unit
India's largest domestic carrier Jet Airways is working
on hiving off its cargo business into an independent unit
on the lines of the successful models followed by leading
international carriers like Lufthansa.
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Principal
may join race for Alliance’s India assets
US-based Principal Financial Group is likely to enter
the race to buy Alliance Mutual Fund’s India assets,
becoming the latest in a long line of companies interested
in gaining control of India’s seventh-biggest private
sector mutual fund.
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Nalco
sell-off in limbo as due diligence trips
The sputtering government disinvestment in National Aluminium
Company (Nalco) has tripped again. The aborted due diligence
exercise by prospective bidders, slated to get underway
on Monday, failed to take off.
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Petromin
wants govt to hold 26% in HPCL
The petroleum ministry is believed to have expressed the
view that
government should retain a minimum of 26 per cent stake
in HPCL besides making it mandatory on the strategic partner
to complete the Rs 9,500 crore Bhatinda refinery.
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ONGC
refuses to invest in Cuddalore refinery project
ONGC has turned down Nagarjuna Oil’s request to invest
in the latter’s proposed Cuddalore refinery project.
Earlier, Indian Oil had shown Nagarjuna the cold shoulder.
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Cement
despatches up 14% in December
The cement industry clocked a 14 per cent year-on-year
growth in despatches in December, the highest in recent
months, as southern markets revived and incremental demand
trickled in from the roads sector.
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IOC,
IBP plan joint strategy
Indian Oil, which acquired 33 per cent of IBP for Rs 1,154
crore last year, has taken several steps to increase commercial
synergies between the two companies, the IOC chairman
MS Ramachandran said on Sunday.
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Bates
India bags Lafarge account
The New Year is promising to be good for Bates India.
It has pipped its competitor to acquire the Lafarge account.
And this is significant considering that Bates has recorded
a 20 per cent growth in topline in the eastern region
during the year just ended.
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Pulsar
helps Bajaj beat Honda in m-cap growth
Riding high on the sales of its first home-grown bike
‘Pulsar’, Bajaj Auto has beaten market leader
Hero Honda in market capitalisation (m-cap) growth in
the last 15 months.
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