Financial Daily from THE HINDU group of publications
Wednesday, January 16, 2002
Markets (Jan. 15)
BL 250997.83 (-10.04)
BSE Sensex3352.52 (-55.32)
S&P CNX Nifty1094.15 (-15.65)
Dollar (Buy/Sell)48.25/48.38
Gold Std (10gm)4725 (-15)

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ICAI plea for tax incentives to listed cos
THE Institute of Chartered Accountants of India (ICAI) has urged the Finance Ministry to exempt listed companies from the rigours of the condition that takes away the benefit of the 10-year tax holiday to a 100 per cent export-oriented ... More


Bengal's offer to Chatterjee on HPL marks a new chapter
THE West Bengal Government's latest decision to allow Mr Purnendu Chatterjee, an NRI partner of the Soros-Chatterjee combine, a controlling stake of 51 per cent in Haldia Petrochemicals Ltd marks the most crucial step to save the company from the ... More

Haldia Petro: Fresh financial recast likely
NOW that the stalemate over the issue of majority control of Haldia Petrochemicals Ltd (HPL) has ended, the company may be put on the path of revival and a fresh financial restructuring proposal will be worked out. Stating this, board-level ... More


Tatas get set for WTO lessons
THE Tata group is gearing up to guard its flanks in the WTO regime. The group has kicked off the first phase of a major initiative, which working upwards from middle and senior-level management to the top of the pile, will educate the entire ... More


Tata Engg unveils six CV variants
TATA Engineering has announced the launch of six variants of commercial vehicles extending from the low-end 2 tonne pick-up to the heavy 25-tonne tipper truck. The most significant of these is the Tata 207DI pick-up truck in the 2-tonne ... More

Enfield spreads wings with `Thunderbird'
ROYAL Enfield Motors, part of the Eicher group of companies, has launched the `Thunderbird', a 350-cc cruiser bike, aimed at sporty minds with a passion for large bikes. With an estimated price tag of around Rs 70,000, Royal Enfield will launch ... More

Petrol version of Qualis makes debut
TOYOTA Kirloskar Motor Ltd has made a foray into petrol-powered engines for the Qualis by launching the Qualis GST Super at Rs 8.45 lakh. Currently, a 2.447-litre diesel engine powers the Qualis, which has sold around 50,000 units since launch ... More


Honda Motor to invest Rs 100 cr in Indian arm
JAPANESE giant, Honda Motor Co Ltd, today announced that it is investing a further Rs 100 crore in its 100 per cent subsidiary in India, Honda Motorcycle and Scooter Ltd (HMSIL). This is in addition to the Rs 200-crore that it has already ... More


Tatas, Hughes call off talks for basic merger
THE Tatas and the Hughes group that had announced in early August last that they were considering an alliance in basic telephony services, today said they have called off talks. Hughes Network Systems, shareholder in Hughes, and Tata ... More

Hallmark in pact with MediaScope
HALLMARK Channel has entered into a deal with MediaScope Associates for sales and advertising. MediaScope Associates would develop advertising sales strategies in India and handle all local advertising deals, a press release said. "India is ... More

Ford, HM in tie-up for making Ikon engines
FORD India and Hindustan Motors have announced a strategic tie-up whereby the latter would manufacture engines and transmission for Ford at its Pithampur plant in Madhya Pradesh. The first such engine is likely to roll out by the year-end. ... More

Wipro, Cisco pact on telephony
BANGALORE: Wipro and Cisco Systems on Tuesday announced the setting up of an IP-based converged communications infrastructure based on Cisco's AVVID platform at Wipro's global technology services division - Wipro Technologies. Cisco's ... More


Moser Baer posts Rs 62-cr net in Q3, expects revenues to double
MOSER Baer India Ltd (MBIL), the Delhi-based manufacturer of magnetic and optical storage media, has said its net profit for the quarter ended December 31, 2001 was up 62.5 per cent, and projected a growth of 70-84 per cent for the fiscal ... More

DaimlerChrysler eyes 11% growth in sales
LUXURY car maker DaimlerChrysler India Ltd is on an aggressive turnaround path, doubling its profits in 2001 and coming out of the clutches of the Board for Industrial and Financial Reconstruction (BIFR). DaimlerChrysler made a profit of Rs 41 ... More

A meeting ground for customers and cos
CUSTOMERBROADCAST Pvt Ltd, one-year old, VC-funded company, which is described by its Managing Director as "a company born out of frustration", expects more tie-ups with brand-owners and a break even in March. The company provides its clients ... More


Investor fund panel notified
THE Department of Company Affairs (DCA) has issued a notification under sub-section (4) of Section 205C of the Companies Act, 1956, constituting a 13-member committee to administer the Investor Education and Protection Fund (IE&PF) established by ... More


Satnam expanding global network
SATNAM Overseas, which claims to have more than 29 per cent of the `branded basmati rice market' estimated at about Rs. 450 crore in the country, is in the process of extending its global network. Addressing a press conference here, the ... More

Reliance Petro hedging plans
NEW DELHI: Reliance Petroleum Ltd has sought the Government's approval to hedge crude, domestic refinery margins and product inventory. Speaking to newspersons here, the RPL President, Mr P.M.S. Prasad, said, ``we have asked the Government ... More

Bharti cuts STD rates in Haryana
NEW DELHI: Bharti Telenet Ltd, the basic services arm of Bharti Enterprises, has announced reduced STD rates for subscribers of its Touchtel brand of telephone services and solutions in Haryana from January 14. According to a statement, ... More

Indian Hotels meet on Jan 23
INDIAN Hotels Company Ltd (IHCL) has informed the BSE that a meeting of its board of directors is scheduled for January 23 to consider the company's quarterly result. The meeting may also examine a proposal on whether to amalgamate Asia ... More

Volvo India keen to export components
VOLVO India Ltd plans to boost its efforts to increase hardware outsourcing to India, Managing Director, Mr Ulf Nordqvist, has said. Volvo reported exports of automotive components worth Rs 15 crore last year to bring down the cost of trucks ... More

Syntel to hike presence, manpower
SYNTEL Inc, the US-based applications outsourcing and e-Business solutions provider, plans to increase focus on the Indian market and strengthen its offshore model, raising manpower strength by 25 per cent in the next 12 months. In a bid to ... More

Polaris bags two orders
MUMBAI: Polaris Software Ltd, the Chennai-based banking, financial services and insurance (BFSI) solutions provider is understood to have secured two large outsourcing contracts. According to sources close to the company, Polaris has ... More

BPL Mobile slashes roaming rates
KOCHI: Taking advantage of the drop in STD rates by BSNL, BPL Mobile has come out with attractive roaming products for its customers across all segments and needs. The new product was `Select South Roamfree' which allows customers to ... More

SE Diary
Comments & Letters to the Editor to:

Top Stories
Tenth Plan to focus more on horticulture: NHB chief

Moser Baer posts Rs 62-cr net in Q3, expects revenues to double

RBI wants to counter slowdown by boosting aggregate demand

Tatas, Hughes call off talks for basic merger

International long-distance for domestic cos -- DoT prescribes Rs 25-cr entry fee

Modest hike in rail fares likely

Rakesh Mohan panel report -- Shipping cos may be allowed to choose tax regime

In Depth
Inside Kashmir
Guide to derivatives
Looking back
Jan. 6-Jan. 12
Nilekani crowned Infosys CEO -- Narayana Murthy is `Chief Mentor'

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