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Promoter
holding in Silverline Technologies down to 2.74 per cent
Mumbai: Promoter holding in the New York Stock Exchange
-listed software company Silverline Technologies dwindled
to a minuscule 2.74 per cent in December 31, 2002 as against
a holding of 19.85 per cent a year back.
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Apollo
Tyres won't use Modi Rubber facility: Kanwar
New Delhi: It is official now. Apollo Tyres efforts
to get a foothold in North India through contract production
of tyres at the manufacturing facility of Modi Rubber
has run into rough weather.The senior management of the
tyre major has now admitted that its agreement with the
Modi Brothers, entered in August last year for contract
production, is for all practical purposes null and void.
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BG
India plans strategy to cut LNG cost
Mumbai: BG India plans to link the price of its imported
LNG to the price of coal and sell it at flat rates to
Indian consumers. The company is currently in talks with
suppliers in Iran to import LNG at its planned 2.5 million-tonne
Pipavav terminal, with coal-linked price indexation, Nigel
Shaw, Chief Executive Officer, BG India, said.
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HC
ruling may derail BBUNL disinvestment proposal
Kolkata: The order on Jessop delivered by the Calcutta
High Court is set to have an impact on the disinvestment
plans of the Centre relating to the companies within the
Bharat Bhari Udyog Nigam Ltd (BBUNL) - the country's largest
wagon manufacturer.
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World
Cup lifts AIR spirits, revenues
New Delhi: The cricket World Cup has not just helped
SET Max or Doordarshan rake in the moolah, but the good
old All India Radio (AIR) is also laughing all the way
to the bank. Prasar Bharati acquired the rights from WSG
Nimbus for 27 matches for Rs 36 lakh and managed to garner
revenues of Rs 6.81 crore.
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ITC
Foods plans Mafco buy
Mumbai: ITC Foods, the foods division of the ITC group,
is planning to acquire Maharashtra Agricultrual and Food
Processing Corporation (Mafco), according to Ravi Naware,
Division Chief Executive, Foods Division, ITC Ltd.
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Higher
input cost not to hit Pidilite results this fiscal
Kolkata: The Rs 500-crore Pidilite Industries Ltd,
expected to end the current fiscal with considerable improvement
to its topline and bottomline, faces the prospect of higher
raw material cost due to the ongoing Gulf war.
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HSL:
In the dock
New Delhi: The Hindustan Shipyard Ltd (HSL) here is
passing through a troubled phase and is currently embarked
upon certain measures to regain financial health. With
the ever-dwindling budgetary support in the post-liberalisation
period, the HSL, like the other public sector shipyards,
is finding the going pretty tough and is not getting enough
major work orders.
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MMTC
sets Rs 7,120-cr turnover target for 2003-04
New Delhi: MMTC Ltd has declared that its growth target
for 2003-04 would be around 14 per cent over the likely
achievements in the current fiscal by projecting a turnover
target of Rs 7,120 crore
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Defunct
firms get a new amnesty scheme
New Delhi: The Department of Company Affairs (DCA)
has launched a new amnesty scheme for defunct companies
to get their names deleted from the Register of Companies
and avoid prosecution for violating the provisions of
the Companies Act, 1956.
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