Financial Daily from THE HINDU group of publications
Tuesday, September 03, 2002
Markets (Sept. 2)
BL 2501095.51 (+1.08)
BSE Sensex3187.26 (+6.03)
S&P CNX Nifty1013.50 (+2.90)
Dollar (Buy/Sell)48.43/48.56
Gold Std (10 gm)5140 (-20)

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Lupin to foray into contract research
Mr D.B. Gupta, Chairman and Managing Director, Lupin Ltd, said at the company's annual general meeting in Mumbai today that the company is contemplating a foray into contract research shortly. "We have initiated discussions on contract ... More


SEBI clears Precot buyback
PRECOT Mills Ltd has completed its share buy-back programme following clearance from the Securities and Exchange Board of India last week. It has bought back 5.5 lakh shares that were offered by 750 public shareholders who had responded to the ... More


Malegam for amending Cos Act
THE Chairman of the National Advisory Committee on Accounting Standards (NACAS), Mr Y.H. Malegam, has made a case for amending the Companies Act, 1956 to ensure that corporates do not take advantage of certain provisions to bypass the established ... More


GSPL to sell pipeline for Rs 95 cr; sell-off not now — GSPC, Niko Resources close to ending row
THE much-awaited divestment of Gujarat State Petronet Ltd (GSPL) has been put off, at least for the time being. Instead, the nodal agency that lays gas transmission pipelines across the State has decided to leverage on Rs 95 crore by selling its ... More


VRS at Delhi Centaur gets good response
THE voluntary retirement scheme (VRS), which was offered at the Delhi Centaur hotel, has evoked a good response with more than 680 staff members of the total work force of 1,154 signing up for it. Official sources told Business Line that ... More


Bharat Forge to cut interest cost by retiring part of debt
IN line with its continuing efforts to rein in costs, the Pune-based auto component maker, Bharat Forge Ltd, is planning to reduce its debt by Rs 60 crore in this fiscal that will help it pare interest burden, a top company official has ... More


A lesson in corporate virtue
CORPORATES should strive to live by values. If they do, the bottomline will automatically turn healthy, according to management consultant Mr Garry Jacobs, who has advised many Fortune 500 companies in the US. Addressing the Public Relations ... More


Return Rs 600 cr to Govt ahead of public offer, PFC advised
J M Morgan Stanley, Power Finance Corporation's consultants, has advised the corporation to return around Rs 600 crore of equity to its owner, the Government, in order to make its initial public offering (IPO) plan of 10 per cent of the reduced ... More


Sony India targets Rs 750-cr turnover
IN an effort to meet the growing challenges in the price-competitive consumer electronics segment, Sony India Pvt Ltd has chalked out a clear strategy to strengthen its position. The company hopes to exit the current fiscal with a turnover of ... More

Tata Engineering reviewing overseas biz
IN a bid to boost exports, Tata Engineering is in the process of reviewing its international business. "Our exports currently account for about 7-8 per cent of our sales. Once our review process is over, this figure will be substantially ... More


Bajaj Auto, Hero Honda Aug sales up
BAJAJ Auto Ltd has reported a 13-per cent increase in sales of its two and three-wheelers at 5,98,965 units for the period April-August 2002 against 5,28,987 units in the year-ago period. For August 2002, sales of two and three-wheelers grew by ... More

Honda Siel sales up 32% in Aug
NEW DELHI: Honda Siel Cars India Ltd (HSCI) has sold 1,207 units of its City and Accord models during August this year, registering a 32.20 per cent growth over the corresponding period last year. In August last year, the company had ... More

ACC despatches up 24 pc in Aug
ACC Ltd has reported a 24.3 per cent increase in cement despatches, at 10.98 lakh tonnes for the month of August 2002 compared to that in August 2001 at 8.83 lakh tonnes. Production rose 24.4 per cent, to 11.04 lakh tonnes from 8.87 lakh ... More

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