Automobiles
Volvo to make buses for intra-city travel
TRUCK manufacturer, Volvo India, today announced plans to venture into the manufacture of buses for intra-city transportation and said it would also commence manufacture of construction equipment from its plant at Hosakote in Bangalore by the end of this
year.
Cement
Cement output up 3.24% in January
CEMENT production by large units in the country touched 7.34 million tonnes (mt) in January, reflecting a 3.24-per cent increase over the production level of 7.11 mt recorded during December 2000.
Corporate
Tata Cummins to export engines
MUMBAI: Tata Engineering and Cummins Inc, currently having a 50:50 engine manufacturing joint venture, have agreed to export engines and components made at the Tata Cummins plant in Jamshedpur for use by Cummins in markets abroad including China, the UK
and Europe.
FACT losses mounting
THE public sector Fertilisers and Chemicals of Travancore (FACT) appears to be on an unviable track, and if no remedial measures are taken soon, the PSU could be in serious trouble.
EIL diversification plan
NEW DELHI: Engineers India Ltd (EIL) will set up separate strategic business units (SBUs) with the aim of diversifying into areas with high business potential.
FII cap raised in Jyothi Structures
MUMBAI: Foreign institutional investors cam now buy equity shares and convertible debentures of Jyoti Structures Ltd up to 40 per cent of the company's paid-up capital under the Portfolio Investment Scheme (PIS), a Reserve Bank press release said.
VRS brigade takes a detour to KotakStreet
AS many as 2,000 former and soon-to-be-former bank executives, all of them VRS takers, have expressed interest in Kotak Mahindra's proposal to make some of them distributors of its mutual funds, fixed deposits and products retailed through KotakStreet.co
m.
Quarterly disclosure of shareholding mandatory
THE corporate battle that had stemmed out of the acquisition of Bombay Dyeing shares by the Kolkata-based jute baron, Mr Arun Kumar Bajoria, has prompted the Securities and Exchange Board of India (SEBI) to embark upon a significant amendment to the `Lis
ting Agreement' of stock exchanges pertaining to the disclosure of shareholding pattern.
Kanoria Dyechem declared sick -- Stage set for change of guard
THE Board for Industrial and Financial Reconstruction (BIFR) has directed IDBI to advertise for change of management for Kanoria Dyechem Ltd (KDL), as the present promoters have showed their inability to revive the company.
Philips board meet
MUMBAI: The Philips India board will be meeting on February 9, to consider payment of dividend for the financial year ended December 31, 2000, the company has informed Bombay Stock Exchange.
Moving Picture IPO to open on Feb 19
THE television content producer, Moving Picture Company (India) Ltd (MPCL), is entering the capital market with a public issue of 25,00,000 equity shares of Rs 10 each at a premium of Rs 30 per share, aggregating Rs 10 crore.
New ED for Shoppers' Stop
BANGALORE: Shoppers' Stop has appointed Mr Vittorio Radice, Managing Director and CEO of Selfridges, UK, as a non-executive director on their board. This is tune with its objective of becoming a `global retailer' and providing international standards of
shopping in India.
Tata Engg board meets today
MUMBAI: Tata Engineering has informed the Bombay Stock Exchange (BSE) that a meeting of its board of directors is scheduled for February 8 to consider raising finance by a rights issue of convertible/non-convertible debentures or any other equity related
instruments. -- Our Bureau
Hotels
Major hotel chains to do better: Crisil
RATING agency Crisil has said that even as the sustainability of the marginal improvement in occupancy and revenue per available room (Revpar) in the domestic hotel sector for the first nine months of 2000-2001 ``remains to be seen'', it expects the Revp
ar for established players such as EIH Ltd, IHCL and ITC Hotels Ltd, to improve in the medium term from their 1999-2000 levels.
Stocks
London, US bourses vie for Indian pie
REPRESENTATIVES from international stock exchanges are wooing the Indian companies in general and sunrise technology companies in particular to have shares listed in their exchanges.
