Mumbai HPCL employees prevent RIL team from entering refinery
Mumbai: HPCL employees protesting against the proposed disinvestment of their company on Friday prevented the Reliance Industries team from entering the PSU refinery in Mumbai for conducting due diligence.

Eyewitnesses said close to 1,000 employees lay down outside the refinery gate to stop the 15-member team, which also included the Disinvestment Ministry officials, entering the refinery.
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Russell Credit tops bid for AP Govt stake in VST
Hyderabad: Russell Credit, an arm of the ITC Ltd, has come up with the highest bid of Rs 215 per share for the 4.69 per cent Andhra Pradesh Government stake in VST Industries Ltd.
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Restile board to meet to allot debentures
Hyderabad: Restile Ceramics Ltd (RCL), the Hyderabad-based ailing ceramic tiles manufacturer, has informed the stock exchanges that pursuant to the order of Board for Industrial and Financial Reconstruction (BIFR), the RCL board would meet on Saturday to issue and allot Rs 3-crore of fully convertible debentures carrying 2 per cent coupon rate per annum in favour of the new promoters, Asia Pacific Equity Holdings Ltd.
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SWC suspends sourcing from AP bottler
Bangalore: Shaw Wallace & Co (SWC) has suspended sourcing operations from its traditional ally and bottler, Mr Harminder Singh Bagga, following the liquor tragedy involving the company's brand, Black Horse, in Andhra Pradesh.

The SWC brand figured prominently in the liquor adulteration scandal which first struck Guntur district last week and has claimed eight lives till date.
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IGL pays maiden dividend
New Delhi: Indraprastha Gas Ltd (IGL), the sole supplier of compressed natural gas (CNG) and piped natural gas (PNG) in Delhi has presented the maiden dividend cheque of five per cent of the total paid up capital of the company for the financial year 2002-03, according to an official release.
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Philips to expand India operations
The proposed Royal Philips Electronics board meeting in India next week could set the backdrop for a renewed greater thrust of the parent company in India. Having been in India through Philips India for the last few decades, while some of its businesses maintain market leadership position in certain product categories, in others, it lags behind competition in certain other categories to the the newer competitors from Korea and Japan.
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Samtel Color wins Elcina award
New Delhi: The Electronic Components Industries Association has awarded the first prize in the category of large-scale sector `Outstanding Achievements in Exports' for 2002-03 to Samtel Color Ltd, one of the largest manufacturers of colour picture tubes in India.
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Green light to Volkswagen
Thiruvananthapuram: The State Government has given in-principle approval to German car major Volkswagen to set up a factory in the State.

Announcing this here, an official said the Government had made known its willingness to make available 25 acres of land the company had specifically asked for in the HMT industrial estate at Kalamassery in Kochi. The existing infrastructure there was enough to take care of the company's requirements of 5-MW power during the first phase of implementation of the project, and an enhanced 15-MW in the second, he added.
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Pfizer to finish pharmacia merger plan in 9-10 months
Mumbai: Pfizer is planning to complete the merger of Pharmacia and Pharmacia Healthcare with itself in the next 9-10 months, subsequent to the completion of the legal merger with Parke-Davis India Ltd.

The company has already completed its operational integration with the two companies, under which 267 people have joined Pfizer. Of this, 237 people are from the field force. A Pfizer spokesperson, however, declined to give the figure on the total manpower strength of the two companies and the voluntary retirement scheme offered to them.
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M & M plans expansion
Kochi: Mahindra and Mahindra has announced its entry into the Kerala region for its industrial engine business.

The industrial engines are used in various applications such as generator sets, industrial construction industry, marine compressors etc. The products were introduced in the market after rigorous laboratory and field tests, a release said.
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