Centre invites EoIs from global consultants for HPC stake sale
New Delhi: The privatisation process of Hindustan Paper Corporation Ltd got a leg-up on Wednesday with the Central government inviting expression of interest from consultants around the globe to act as advisor to the disinvestment process in the company.
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Bhilai Steel likely to post Rs 700-cr profit
Kolkata: Bhilai Steel Plant of Steel Authority of India Ltd is set to earn around Rs 700 crore net profit to become the highest profit earner among the SAIL plants.
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PFC net up 37 per cent to Rs 1,067 cr in 2003
New Delhi: The net profit of Power Finance Corporation (PFC) has surged by 37 per cent to Rs 1,067 crore for the year ended March 31, 2003, as against Rs 778 crore in the previous year. PFC has announced an interim dividend of Rs 212 crore for the year ended March 31, 2003.
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Telco achieves Rs 900-crore cost savings in 3 years
Mumbai: Tata Engineering achieved a cost saving of Rs 900 crore in the last three years leading to a significant reduction in break-even points.
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15 per cent of Apollo Tyres on auction
New Delhi: The countdown for an engaging battle at Apollo Tyres has begun. The Custodian has put 15 per cent of Apollo Tyres' equity on auction, providing an open opportunity for strategic bids by competitors and or financial investors.
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PPN defaults on debt repayment
Chennai: PPN Power Generating Co Ltd, which runs a 330 MW combined cycle power plant at Pillaiperumalnallur in Tamil Nadu, has defaulted on repaying an instalment of debt, which is due for the quarter ending March 31.
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CLB nullifies crucial Dabhol board decision
Mumbai: The Company Law Board (CLB) on Wednesday declared all the decisions taken by the Board of Dabhol Power Company (DPC) on June 4, 2002, as null and void.
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TDSAT to take up IUC after WLL hearings — Cell players asked to detail projected revenue losses
New Delhi: The Telecom Dispute Settlement Appellate Tribunal (TDSAT) is scheduled to hear petitions challenging the interconnection usage charges (IUC) regulation issued by the Telecom Regulatory Authority of India (TRAI) after it completes the proceedings relating to limited mobility (WLL) by April 9.
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Essar Oil seeks more time for bonds repayment
New Delhi: Essar Oil Ltd is seeking more time - another 12 years - for repayment of money, which the company had raised through debentures in 1995.
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InterContinental boutique hotel opened in Mumbai
Mumbai: InterContinental Hotels & Resorts has opened the InterContinental Marine Drive, its first boutique hotel in the Asia-Pacific region. The hotel comprises 59 "oversized" rooms and suites with advanced entertainment options, a restaurant with three interactive display kitchens, a roof-top wine and cigar lounge, and a vodka bar.
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Mascot Systems ties up with Nihon Unisys
Mumbai: Software services firm Mascot Systems has announced a strategic alliance with Nihon Unisys, a Japanese systems integrator, to provide application maintenance services jointly to Unisys' customers.
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Moser Baer targets home turf with own brands
Mumbai: Moser Baer India Ltd (MBIL), manufacturer of digital compact disks, has launched products under its own brand for the domestic market, targeting a 50 per cent share of the country's optical media market by 2005.
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Haldia Petro posts Rs 300-cr earnings — Lenders offer interest-funding support
Kolkata: Haldia Petrochemicals Ltd (HPL), the three-way joint venture between the Chatterjee Group, the West Bengal government and the Tatas, has reported earnings of Rs 300 crore before depreciation, interest and taxes (EBDIT) in the just concluded financial year.
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HAL turnover tops Rs 3,000 cr
New Delhi: Hindustan Aeronautics (HAL) has achieved an all-time high provisional turnover of Rs 3,005 crore and export of Rs 103 crore for 2002-03. The net profit was Rs 451 crore, the HAL Chairman, N.R. Mohanty, said.
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Hyundai sells more in March
New Delhi: Hyundai Motor India Ltd sold 1,12,502 units for the year ending March 31 2003, a 20.6 per cent growth over the 93,250 units it sold in the previous financial year. In March, the company sold 12,911 units.
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Munoth seeks to raise equity for expansion
Chennai: The south-based Munoth group, which has recently launched the first swadeshi brand of GSM phones in India, has decided to rope in foreign nationals to raise equity to fund its expansion plans in the country.
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