Financial Daily from THE HINDU group of publications
Friday, May 03, 2002
Markets (May 2)
BL 2501148.84 (+10.80)
BSE Sensex3372.56 (+34.40)
S&P CNX Nifty1093.30 (+8.80)
Dollar (Buy/Sell)48.90/49.08
Gold Std (10 gm)5135 (-35)

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Parke-Davis suspends Hyderabad operations
IN an interesting development, Parke-Davis (India) Ltd, the Rs 211-crore Indian subsidiary of the US pharma giant, Warner-Lambert Co, which recently got merged into Pfizer Inc, has decided to shut down the operations of its Uppal plant of ... More

Indo Rama hikes prices
RIDING the wave of a surge in global petrochemical prices on the back of increased demand, Indo Rama Synthetics (I) Ltd has effective May 1 increased the basic price of polyester staple fibre from Rs 48 per kilogram (kg) to Rs 50.50 per kg. The ... More

RIL hikes prices
RELIANCE Industries Ltd (RIL) has hiked the prices of polymer and fibre intermediates with effect from May 1, 2002. Polyester staple fibre prices are up 9.4 per cent to Rs 52.25 per kg (Rs 47.75), polyethylene terephthalate is up 6.2 per cent ... More


HC clears petition for Tata Engg's financial revamp
MUMBAI: The Bombay High Court on Thursday granted approval to the petition for financial restructuring by Tata Engineering in accordance with Sections 78 and 100 of the Companies Act, 1956. This is subsequent to shareholders' approval ... More

Court rejects Shiva Texyarn, Annamalai Finance merger scheme
THE Madras High Court has declined to approve the scheme of amalgamation of Shiva Texyarn Ltd and Annamalai Finance Ltd (both belonging to the Pollachi-based N. Mahalingam group) under Sections 391 and 394 of the Companies Act. Mr Justice E. ... More


Apollo to buy out Duncan stake in Gleneagles hospital
THE Chennai-based Apollo Hospitals Enterprise Ltd plans to buy out the Kolkata-based Duncan group's stake in Duncan Gleneagles Hospitals Ltd. In a communication to the stock exchanges today, Apollo Hospitals Enterprise said it was considering a ... More

Hurdles in Berger arm merger
THE merger of Berger Auto & Industrial Coatings Ltd — now a wholly-owned subsidiary of Berger Paints India Ltd, but till recently a paint unit of ICI India Ltd in West Bengal — into the parent company, though inevitable, may have to ... More

UBS Warburg's buy of EnronOnline: Smart move?
Enron allowed different customers to sit in on the same trade. Thus, they had to go through Enron even when trading with each other. The result? An awesome market share. More


Apollo opens centre for nervous system disorders
INTRODUCING niche products for specific medical ailments is the latest strategy of the Apollo Hospitals Group. The group has launched the Apollo Health Centre in Chennai, which is supposed to be the first of its kind in India, will focus on ... More

Apollo Tyres plans to make truck radials
APOLLO Tyres Ltd (ATL) has announced that the company is setting up a new unit at its existing facility in Baroda for manufacturing truck and bus radial tyres. The radial unit, being set up in technical collaboration with Continental AG, will ... More


Colour dot labels for cosmetics in, drugs out
IN case you have run across the sole `vegetarian toothpaste' in the market-place, there's more. Soon consumers may be able to decide whether they want to pick up a `non-vegetarian' soap or a `vegetarian talcum-powder'! The Union Health ... More

`Marker' to detect fuel adulteration
OIL majors Indian Oil Corporation, Bharat Petroleum Corporation and Hindustan Petroleum Corporation have introduced a system to detect adulteration in petroleum products at depots in Mumbai and Delhi. According to an IOC release, the new ... More


Tata Steel's new vision
TATA Steel has unveiled its Vision 2007 statement, which is aimed at ensuring that the steel major emerges as an EVA (economic value addition)-positive company with a profit before tax of between Rs 800 crore and Rs 1,000 crore within the next ... More

SKM Egg Products hopes to hatch profits
SKM Egg Products Export (India) Ltd, the 100 per cent export-oriented egg processing unit in Erode, is hoping to get its project out of woods during the current year following improved marketing conditions. The company has been facing ... More

D Link upbeat on software R&D in India
D LINK India Ltd, a subsidiary of D Link Corporation of Taiwan, has renewed its thrust on its software R&D activities in India. The company has moved to a larger office in Bangalore and hopes that the new centre will let it ramp up operations ... More

CG Igarashi planning domestic market foray
AFTER concentrating on exporting its entire production in the last six years of its existence, CG Igarashi Motors, the joint venture of Crompton Greaves and Igarashi Motors, now plans to enter the domestic market for micro motors and ... More

  • PR firm plans to diversify


    Grasim: Commodity biz under stress
    RIDING the crest of rising cement prices in the first six months, higher cement volumes through the year, lower interest costs and a tight rein on operational costs, Grasim Industries has managed to close fiscal 2001-02 with a 4.3 per cent growth ... More

    TVS April sales ride on Victor
    MUMBAI: TVS Motor Co Ltd has said that its motorcycle sales volumes rose 83 per cent in April over the same month a year earlier, driven by the continuing demand for a four-stroke model launched last year. The Chennai-based company, ... More

    Hero Honda sales up 40%
    NEW DELHI: Hero Honda Motors Ltd, the world's largest motorcycle maker, on Thursday said April sales rose a robust 40.6 per cent year-on-year to 1,35,961 motorcycles on the back of rising farm incomes and falling vehicle finance ... More

    Fiat in top gear
    Fiat India Pvt Ltd has said its April sales shot up 739 per cent year-on-year to 4,203 cars, with the Palio hatchback accounting for 3,985 of them. March sales were 4,003 cars, Fiat said in a statement. The company will shortly unveil the new ... More

    BHEL division profit up
    BANGALORE: The Electronics Division of Bharat Heavy Electricals Ltd (BHEL), Bangalore, has registered a turnover of Rs 468 crore, with a pre-tax profit of Rs 46 crore for the year 2001-02, a rise of 15 per cent and 176 per cent ... More

  • ONGC Krishna-Godavari profit up
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    Ad guys home in on unpaid dues

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