L&T to bid for metro airport projects
Mumbai: Larsen & Toubro is going to be part of two consortia that will bid for the privatisation and modernisation projects of international airports in Mumbai and Delhi.
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IOC's Rajbandh depot fire: No disruption in supply
Kolkata: Indian Oil Corporation yesterday ruled out any dislocation in the supply of petrol in the areas served by its Rajbandh (Durgapur) depot where one of the storage tanks has been ravaged by fire following a lightning strike during yesterday's squally weather.
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Astra Microwave wins Rs 53-crore orders
Hyderabad: Astra Microwave Products Ltd has informed the stock exchanges that it has received orders worth Rs 53.7 crore. According to the company, it has received a letter of intent worth Rs 50 crore from Bharat Electronics Ltd, Bangalore, for supply of RF front end, antenna and other components for a defence radar. The company has also received a purchase order worth Rs 3.7 crore from LRDE, Bangalore, for supply of sub-system for defence applications
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Jindal Stainless wins French mint order
NewDelhi: Jindal Stainless Ltd has bagged an order for supplying 200 million pieces of steel coin blanks valued at 1.6 million euros from Monnaie De Paris (The French Mint).
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Dr Reddy's appoints new cost auditors
Hyderabad: DR Reddy's Laboratories Ltd has informed the stock exchanges that its cost auditors, R.R. Sharma & Co, have expressed intention not to opt for re-appointment for the current fiscal.
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NTPC excellence award
Hyderabad: National Thermal Power Corporation Ltd (NTPC) has bagged the Enterprise Excellence Award. P.V.R.K. Prasad, Director-General, MCR Human Resources Development Institute, presented the award to K.K. Sinha, Director, NTPC, at the 7th CEO's conference at Hyderabad yesterday.
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ONGC Videsh eyeing acquisitions abroad
New Delhi: ONGC Videsh Ltd, the overseas arm of Oil and Natural Gas Corporation (ONGC), is surveying oil and gas properties in West Africa, CIS countries and Latin America to acquire assets or equity stakes. It plans to invest around $1 billion per annum in this regard. setting up a propane dehydrogenation and polypropylene project in the Gulf kingdom.
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Dabur launches fruit-based drink, Coolers
Mumbai: Dabur Foods has launched Coolers which is claimed to 'cool from within.' Coolers, a fruit-based ready-to-drink beverage based on traditional cooling recipes, has been launched in three variants - aam panna, pomegranate (anar) and watermelon. The fourth variant jamun is to follow soon. The company has spent Rs 12 crore on developing the brand which includes a year's research into consumer needs on the new brand and development of processing capabilities and parameters.

The new beverage is available across the four metros i.e. Delhi, Mumbai, Kolkata and Chennai, mini-metros such as Bangalore, Chandigarh, Hyderabad and Pune and small cities such as Lucknow, Kanpur, Nagpur and Surat. Coolers is offered in 1-litre packs priced at Rs 50 and Rs 60 for the pomegranate variant. Dabur Foods is also entering new product areas to meet the Rs 200-crore turnover target it has set by 2006-07. Apart from fruit drink Coolers Dabur is planning to launch soups and tomato puree under the Hommade brand. Initially the company will launch Hommade tomato soup in liquid form (in cartons) by September this year as well tomato puree and coconut milk under the brand. According to the company the Hommade brand grew by 28 per cent last year.
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DuPont to unveil Tyvek products
Thiruvananthapuram: DuPont India Pvt Ltd is launching a a portfolio of products made of Tyvek, its non-woven multipurpose fibre. Initially the company will launch mattress covers, pillow covers, vehicle sunshades and car covers made of Tyvek and will over three to four months bring in a full range of Tyvek products including printing products.

DuPont India is also planning to begin test marketing its medical fabric - Softesse -which is extremely popular in the healthcare industry and is used to make medical gowns and drapes. According to the company mattress and pillow covers made from Tyvek are liquid-resistant and protect users from dust mites and allergies while car covers made from the product will help keep vehicles cool. The company's promotional programmes for Tyvek will focus on building consumer awareness about the possible hygiene and lifestyle benefits of using products made from the fibre.
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ITC to buy Ansal Hotels
New Delhi: ITC has acquired the entire shareholding of Ansal Hotels, a joint venture with- Marriott Hotels. ITC is said to have bought the entire 252.9 million shares of Rs 10 each of Ansal Hotels. Though the property uses the Marriott brand, the international hotel major has not been offered any equity holding in the venture and ITC is expected to discontinue using the Marriott brand.
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Avaya to acquire upto 25.1 percent of Tata Tele
New Delhi: US-based communication services provider Avaya International has got the Foreign Investment Promotion Board assent to pick up to 25 per cent stake in Tata Telecom (TTL).
Avaya plans to acquire the 25.1 per cent stake (35,70,082 equity shares) through its wholly owned subsidiary Avaya Mauritius.
The Tata group company will now be able to import and distribute telecom solutions, equipment and offer specialised after sales services.
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L&T 2003-04 net profit rises 96 percent
Mumbai: Larsen & Toubro Ltd has posted a 96.4 per cent growth in its consolidated net profit to Rs 746.81 crore in 2003-04 as against Rs 380.18 crore in 2002-03. The consolidated income, net of excise, for the period under review rose to Rs 11,272.4 crore (Rs 10,553.27 crore in 2002-03), the company said. The company posted a net profit of Rs 532.75 crore (Rs 433.1 crore in 2002-03) while the total income stood at Rs 9,999.38 crore (Rs 9,637.53 crore).

The net profit and total income for fourth quarter ended March 31, 2004 stood at Rs 286.16 crore (Rs 265.63 crore in Q4 of 2002-03) and Rs 3,688.48 crore (Rs 3,310.3 crore), it added. The board has recommended a dividend of Rs 16 per share of Rs 2 each for 12.44 crore shares under the restructured capital base, the company informed the Bombay Stock Exchange on Friday.
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BSNL enters into roaming deal with Sri Lanka TelecomNew Delhi: Bharat Sanchar Nigam Ltd (BSNL) has signed a roaming agreement with Sri Lanka Telecom Ltd, which will enable Cell One subscribers to roam in the Mobitel network of Sri Lanka Telecom (SLT). The two companies have also signed agreements for communications services including international direct dialing (IDD) service between BSNL and SLT to facilitate direct connectivity for international voice traffic. This will enable BSNL to provide attractive tariff packages to its customers. A memorandum of understanding was also signed for Internet Protocol (IP) oriented services between the two companies. From now, both BSNL and SLT will be able to provide IP-based data services to corporate customers.
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Jet Airways to levy fuel surcharge on international routes
New Delhi: Jet Airways is planning to levy a fuel surcharge of the order of $5 a ticket for all international routes originating from anywhere in India. This is because of the recent sharp rise in global fuel prices According to the levy will also be applicable on domestic travel, which is in conjunction with international travel. Airfares on purely domestic routes will be exempt from this levy. Jet Airways' decision came a week after state-run flag carrier Air-India said it will levy a surcharge of $9 per sector for destinations in the US and $4 per sector for all other destinations to offset the impact of a fuel price hike.
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Hyundai May sales up 14 percent in May
New Delhi: Belying apprehensions, Hyundai Motor India has announced combined sales of 12,708 units for May, up 14 per cent over last May's sales of 11,200 units. However, the company's domestic sales at 7,735 units are lower than last May's sales of 8900 units by 13 percent Hyundai recorded 4,973 units in exports and its cumulative sales for the first five months of the calendar are 73,449 units. Hyundai's latest offering, Elantra, clocked sales of 885 units in May. The company's Santro and Accent models saw a sales set back due to production constraints said a company statement.
International news
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Tata Power in agreement with Saudi company
Mumbai: Tata Power Company Ltd said it has signed an agreement with the National Power Company, Saudi Arabia, to jointly set up a 100 MW co-generation power plant in the industrial city of Jubail to supply power and steam to Sahara Petrochemical Company.
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