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Tisco
hikes export target for current year to 18 per cent
Mumbai: Tata Iron & Steel Company is targeting
a higher growth rate in exports of about 18-19 per cent
this year in comparison to last year’s growth.
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Indian
Oil includes petro exports in MoU with govt
New Delhi: Indian Oil Corporation has for the first
time included exports of petroleum products to foreign
markets as part of its memorandum of understanding for
2003-04 with the government of India.
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US
allergy drug sales in danger as big season nears
New Delhi: With allergy season nearing, major US health
insurers are consigning rivals to Schering-Plough’s
popular over-the-counter Claritin drug to the pharmacy
dungeon, charging up to $50 for brand-name antihistamines.
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Continued
economic growth vital for car industry, says Icra study
New Delhi: Sustained economic growth is vital for
better prospects of the domestic passenger car industry
in the long run and to increase vehicle penetration, an
ICRA study has said.
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Decision
deferred on EPF rate cut
New Delhi: The Central Board of Trustees (CBT) of
the Employees Provident Fund Organisation (EPFO) today
deferred a decision on effecting a reduction in the interest
rate on EPF deposits during the coming fiscal.
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Gujarat
Gas talks with suppliers in final stage
Mumbai: Gujarat Gas Company Ltd (GGCL), a subsidiary
of BG India, in is "final stages of discussions"
with suppliers for additional gas to its bulk consumers.
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SEW
Eurodrive aims to expand market base
Hyderabad: SEW Eurodrive India, the Indian subsidiary
of SEW Eurodrive GmbH & Co, a German multinational
engaged in the production of transmission products, is
planning to establish more offices and service centres
across the country in the next fiscal to expand its market
base.
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GMR
board allots preference shares
Hyderabad: The board of directors of GMR Technologies
& Industries Ltd, part of the Hyderabad-based GMR
group of companies, has allotted 2.75-crore preference
shares of Rs 2 each at a premium of Rs 8 per share to
GMR Investments Pvt. Ltd on a private placement basis.
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Star
switches off signals to Chennai cable operator SCV for
non-payment
Mumbai: The Star group has decided to switch off transmission
of its bouquet of channels from the SCV platform in Chennai,
starting Friday night, following differences between the
two sides over declarations and payment.
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HC
allows Jessop union's writ plea
Kolkata: Justice K.J. Sengupta of the Calcutta High
Court has allowed the writ petition filed by Jessop Co
Ltd Staff Association challenging the disinvestment of
equity shares of the Union Government in Jessop &
Co Ltd (JCL).
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Changes
in Suryalakshmi shareholding
Hyderabad: About two of the promoters of Suryalakshmi
Cotton Mills Ltd (SCML), the city-based Rs 209-crore yarn
manufacturer, have sold their holding of 1.44 per cent
in the market, while one of the promoters has acquired
fresh holding of 1.43 per cent from the market.
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SAIL
to expand mining for iron ore supply
Kolkata: Steel Authority of India (SAIL) has finalised
strategies - - both short-term and long-term - - for expanding
its mining activities for supply of enhanced volume of
iron ore to its integrated steel plants at Bokaro, Rourkella
and Durgapur.
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Brand
Van Heusen looks to double sales in three years —
Projects Rs 200-cr retail revenues for 2006
Mumbai: Van Heusen, the premium formalwear brand from
Madura Garments, has projected Rs 200-crore turnover (at
MRP value) by March 2006. The brand is expected to close
the current financial year with revenues close to Rs 105
crore.
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NFL
signs MoU with Govt
New Delhi: National Fertilisers Ltd (NFL) has signed
a memorandum of understanding for 2003-04 with the Department
of Fertiliser on Thursday.
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Bajaj
Auto to buy finance arm shares
Mumbai: Bajaj Auto Ltd has informed the National Stock
Exchange that its plans to acquire 29,16,900 shares amounting
to 17.69 per cent of Bajaj Auto Finance Ltd. The proposed
shareholding after acquisition is 76,10,700 shares amounting
to 46.15 per cent. The type of acquisition is by inter
se transfer amongst promoters. The acquisition price per
share is Rs 48.05 per share and the date of proposed acquisition
is March 31.
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