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Delhi
HC upholds arbitrator’s ruling in favour of Leela
Hotels in Hudco case
New Delhi: The Delhi High Court has upheld an award
of the arbitrator in favour of Leela Hotels in a dispute
between the Hudco and the company over a sub-lease granted
to the latter of 17.6 acres of land in Andrews Ganj, Delhi,
for Rs 201 crore.
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New
BSES management may review long-term strategies
Mumbai: The new management of BSES is expected
to relook, if it required to rework the company’s
business plan 2012.
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Hitachi
Home buys out Lalbhai Group stake in Amtrex for Rs 12
crore
Mumbai: Hitachi Home & Life Solutions Inc.
has acquired the entire 19.4 per cent stake of the Lalbhai
Group in Amtrex Hitachi for a consideration of Rs 11.8
crore.
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Pharmacia
to expand business post Pfizer merger
New Delhi: Pharmacia India, the Indian subsidiary
of the 10th largest pharmaceutical company in the world,
is waiting for the global merger of Pharmacia and Pfizer
to be formalised soon to move its operations into high
gear.
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Trai
formula may raise WLL, fixed-line rates
New Delhi: All telecom operators - WLL, fixed line
and cellular - will receive a payment for terminating
(putting through) calls in their network received from
any another network, according to a compromise formula
being worked out by the telecom regulator.
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ICC
offers to end sponsorship row
New Delhi: Cricket's governing body has offered
to end the sponsorship row with India over World Cup contracts
with a "large olive branch", a source close
to the leadership told Reuters on Tuesday.
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GM
to set up R&D facility in India
Bangalore: Automobile major, General Motors Corp
is to establish a research and development (R&D) and
design centre in India very shortly.
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Reliance
invites franchisees for retailing petrol
Mumbai: Reliance Industries Ltd (RIL) has invited
franchisees for managing its proposed petroleum retail
outlets.
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Matrix
mulls pref offer; board to meet on Jan 28
Hyderabad: The board of directors of Matrix Laboratories
Ltd, the Hyderabad-based pharmaceutical company, would
meet on January 28 to consider a proposal to offer shares
to the promoters group on a preferential allotment basis.
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EIL
bags Rs 650-cr GAIL contract
New Delhi: GAIL (India) Ltd has awarded Engineers
India Ltd (EIL) a Rs 650-crore contract for expansion
of its Pata petrochemical complex.
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Nod
for Golkonda pref allotment
Hyderabad: The shareholders of Golkonda Engineering
Enterprises Ltd at a recently held extraordinary general
meeting authorised the board to issue 32.5 lakh equity
shares of Rs 10 each at par aggregating Rs 3.25 crore
on a preferential allotment basis to the nominees of Surana
Udyog who had provided unsecured loans to the company.
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Merck
to trim staff at Taloja plant
Mumbai: Merck Ltd has announced a voluntary retirement
scheme (VRS) to employees working at its Taloja plant.
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Cement
arm: L&T meet on Jan 29
Mumbai: A board meeting of Larsen & Toubro
has been scheduled for January 29 to consider the results
for the third quarter ending December 31, 2003, said a
news release from the company.
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Standard
Fireworks sets up two units in China
New Delhi: Standard Fireworks at Sivakasi, near
here, one of the leading players in the fireworks industry,
has commissioned two factories in China.
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Color
Chips signs up with 2 foreign firms for content
New Delhi: Color Chips India Ltd has signed up
with Diamond Comics Pvt Ltd, Asia Pacific Communication
Associates, for supply of its contents, comics, popular
characters and features. It has also bagged a 3D animation
project from A.
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IJM
gets ISO 9001:2000
Hyderabad: The Hyderabad-based IJM (India) Infrastructure
Ltdengaged in construction projects and maintenance of
road projects and buildings, has been awarded ISO 9001:2000
accreditation by the American Quality Assessors International
LLC, USA for their quality management systems.
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Tata
Engg sees huge potential for LCVs
Bangalore: Tata Engineering hopes to increase its
market share of 46 per cent in the light commercial vehicle
segment by positioning its latest offering, Tata 207 DI
pick up vehicle, as a convenient transhipment medium for
city deliveries from the suburbs
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Billing
up 25 per cent for International Travel House
Mumbai: International Travel House Ltd (ITHL),
has recorded an increase of 25 per cent in its total billing
at Rs 210 crore for the nine-month period ending December
31, 2002 as compared to the same period in the previous
year.
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Siemens
Q1 net up 68 per cent to Rs 34 cr
Mumbai: Buoyed by a surge in non-recurring income,
electrical and electronics major Siemens has reported
a 68 per cent rise in net profit for the first quarter
ended December 31, ’02 to Rs 34.4 crore, up from
Rs 20.5 crore in the corresponding period in the previous
fiscal.
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Nicholas
Piramal Q3 net at Rs 21cr
Mumbai: Drugmaker Nicholas Piramal (NPIL) has posted
a net profit of Rs 21.2 crore in the third quarter of
2002-03 on net sales of Rs 219.6 crore.
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Govt's
grant, loan prop up BSNL bottomline
Mumbai: The latest audited results of BSNL (Bharat
Sanchar Nigam) reveal that its profits have been heavily
boosted by government support. The profit for the year
ended March ‘02 would have come down by close to
50 per cent without this support.
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Mardia
Chem Q3 operating profit up 472 percent
Mumbai: Mardia Chemicals (MCL) has reported an
operating profit of Rs 3.9 crore (before interest and
depreciation) on a sales turnover of Rs 63.5 crore during
the third quarter ended December 31, '02.
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Essar,
Ispat, Jindal finalise bailout package
New Delhi: The much awaited financial restructuring
package of three steel companies Essar Steel, Ispat Industries
and Jindal Vijaynagar Steel (JVSL) was finalised at the
corporate debt restructuring meeting held at IDBI Towers
on Tuesday.
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Ranbaxy
to launch branded generics in US
Mumbai: Ranbaxy Laboratories, India’s top
drugmaker by sales, is preparing to launch a clutch of
branded off-patent drugs in the US market that have been
developed in India.
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Discovery
extends pact with BBC
Mumbai: Discovery Communications has extended its
three-year agreement with BBC World to a 10-year contract
for the co-production of programmes. Discovery has also
recently inked a two-year deal for joint production with
UK’s Channel 4 for quality programming.
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ITC
plans ad blitzkrieg for Kolkata hotel
Kolkata: ITC is planning a big marketing splash
for its Sonar Bangla Sheraton Hotel & Towers in Kolkata.
In a promotional bid called ‘Restobiz,’ the
new resort-cum-business hotel will be marketed across
the continent.
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