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Auto
sector lags behind global peers: KPMG
New delhi: While
the automotive industry has achieved some success in its
efforts at achieving global recognition, it still lags
behind its counterparts in mature economies as regards
certain key macroeconomic parameters, according to a global
KPMG study.
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Fedders
ties up with Korean co
New Delhi: Fedders Lloyd Corporation has tied up with
Han’s Air Conditioning of Korea to produce air-conditioners
and refrigerators for trucks and buses in the domestic
market.
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SC
orders SPGL to include parent’s dissent on accounts
New Delhi: The Supreme Court in its scathing order
has directed Spectrum Power Generation Limited to include
dissent by Spectrum Technologies USA with regard to various
irregularities in its annual accounts for 2000, 2001 and
2002.
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Parke-Davis
minority shareholders appeal against Pfizer merger scheme
Mumbai: Minority shareholders of Parke-Davis (India)
Ltd have gone in for further appeal against the company,
court order dated February 7, 2003 which approved the
scheme of amalgamation of PDIL with Pfizer Ltd.
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Mallya
makes fresh offer for Herbertsons stake
Mumbai: The decade-long feud between Vijay Mallya
and Kishore Chhabria for control of Herbertsons may be
in for a resolution. Talks between the two camps to untangle
the knotty ownership issue have, in the past, sputtered.
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Birlas
revive Orissa project
Mumbai: Delays in the government's plan to privatise
Nalco have prompted the Aditya Birla group to renew their
own greenfield aluminium plans. Group officials indicate
that they could also utilise resources mobilised for Nalco
to fund the greenfield Aditya Aluminium project in Orissa.
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Daksh
to raise $100m via IPO
New Delhi: Gurgaon-based BPO firm Daksh is planning
to raise $50-$100m through an IPO in the next 12 to 24
months.
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International
Tractors mulls making jeeps
New Delhi: After giving its competitors a run for
their money in the tractor market, International Tractors
Ltd (in which the French automotive giant Renault has
a 20 per cent stake) will enter the jeep market in the
next few months.
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Ceat
offers lifetime guarantee for Secura brand
Kolkata: Ceat Ltd, a major player in the Indian tyre
market, has announced an `Unconditional lifetime replacement
guarantee' scheme for its entire range of Secura brand
of two-wheeler tyres.
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Czech
bidder offers joint venture to make 66 AJTs
New Delhi: As a decision on the AJT purchase deal
comes closer, Czech bidder Aero Vodochody has extended
its sale-only pitch to include a manufacturing and marketing
tie-up with HAL.
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Andhra
Cements to get wind-up notice
New Delhi: Andhra Cements Ltd (ACL) is now facing
show-cause notice for winding up. The Board for Industrial
and Financial Reconstruction (BIFR) while forming a prima-facie
opinion of winding up ACL has directed issuance of the
notice.
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MTNL
readying VRS package — Cos to be board-driven
New Delhi: Mahanagar Telephone Nigam Ltd (MTNL)
has formulated a voluntary retirement scheme (VRS) for
its employees. It is expected to be rolled out in the
new financial year, the MTNL Chairman and Managing Director,
Narendra Sharma, said.
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GAIL
moots `barter' deal with exploration cos — Seeks
gas supply for paying back to govt
New Delhi: In a bid to increase its business, GAIL
(India) Ltd, the state-owned gas transporter, has mooted
a proposal wherein royalty and `profit petroleum' that
accrues to the government as cash from oil and gas-producing
blocks, is given to GAIL in kind according to company
officials.
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