Financial Daily from THE HINDU group of publications
Tuesday, January 07, 2003
Markets (Jan. 06)
BL 2501130.27 (-3.03)
BSE Sensex3334.89 (-22.65)
S&P CNX Nifty1084.35 (-5.25)
Dollar (Buy/Sell)47.95/48.08
Gold Std (10 gm)5730 (+140)

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EIL bags BPCL's hydrocracker contract
BHARAT Petroleum Corporation Ltd (BPCL) has appointed Engineers India Ltd (EIL) for implementing the hydrocracker unit as part of its refinery modernisation project on conventional basis, according to a company release. EIL has agreed to offer ... More

Ford to drive in Fusion in early '04
CAR manufacturer Ford India ltd (FIL) is all set to get ahead in the highly competitive Indian passenger car market and is firming up plans to launch its debut car in Europe, the Ford Fusion in the domestic market. Top sources told Business ... More


Godrej Ind cancels 1.3 crore shares
MUMBAI: Godrej Industries Ltd has informed the National Stock Exchange that its paid-up capital has fallen to Rs 29.19 crore (4.86 crore shares) from Rs 37.03 crore (61.7 crore shares) following the buyback programme. The company has ... More


Koshy bags SCOPE award
DR V.K. Koshy, CMD of Bharat Electronics Ltd (BEL), has won the SCOPE (Standing Conference of Public Enterprises) individual award for excellence and outstanding contribution to public sector management for 2000-01. The most prestigious award ... More


CII suggests cut in corporate tax rate
Simplification of procedures for deduction of TDS and enhancing the limit for compulsory audit from Rs 40 lakh to Rs 1 crore also figure in CII's list of demands. More


FIPB tags conditions for Dhillon Kool deal — Pepsi must use only FDI for buy
THE Foreign Investment Promotion Board (FIPB) has directed PepsiCo India Holdings Ltd to use only foreign direct investment (FDI) funds for the acquisition of the business and assets of its franchisee, Dhillon Kool Drinks and Beverages Ltd ... More

IOC willing to buy out Govt stake in IBP
INDIAN Oil Corporation (IOC) is willing to buy out the remaining 26 per cent Government equity in IBP Ltd, making it a 100 per cent IOC subsidiary. Mr M.S. Ramachandran, Chairman and Managing Director of IOC, on Monday said his company would be ... More


Escorts to expand healthcare service
THE new Escorts Hospital and Research Centre will be formally thrown open on January 9. Escorts already has an hospital at Faridabad and the new hospital is on the same premises. It was built to plug the demand for quality healthcare ... More

KSIDC signs MoU for truck tyre unit
THIRUVANANTHAPURAM: Kerala State Industrial Development Corporation (KSIDC) has signed a memorandum of understanding with Mr P.M. Shamsudheen, Chief Promoter of Road Stone Tyres India Ltd, for the establishment of a truck tyre unit at ... More


SEBI to re-examine norms on company directorships
THE Securities and Exchange Board of India (SEBI) Chairman, Mr G.N. Bajpai, today said SEBI was taking a fresh look at certain issues of corporate governance such as the number of directorships a person can hold, bloated agendas of director ... More

DCA for stringent entry norms for IDR issues
An issuing company will be eligible to issue IDRs only if it has a net worth of Rs 100 crore and has had an average turnover of Rs 500 crore during the last three financial years. More


SILK signs pact with Chinese firm
THE State-owned Steel Industrials Kerala Ltd (SILK) has signed an agreement with Hunan Chenzhou Electric International Development Corporation (HCIDC) of China for the manufacture of small hydroelectric turbines and equipment in the State. A ... More


Loomba Trust launches charity initiative in AP
ONE hundred children of poor widows from Andhra Pradesh will benefit from an initiative started by the United Kingdom-based charity, Loomba Trust. The British Minister for Trade and Industry, Ms Patricia Hewitt today launched the operations of ... More


SEBI clears Electrolux's rights plan
THE white goods major, Electrolux Kelvinator Ltd (EKL) has got the Securities and Exchange Board of India's (SEBI) nod for its revised rights issue proposal of Rs 199.7 crore. Earlier, the board of directors of EKL, at its meeting on September ... More


Eli Lilly sees little scope for further cut in insulin price
FURTHER reduction in the prices of human insulin would depend upon the movement in the costs of equipment related to storage and transfer of the drug. While the drug itself does not cost much, the cost of the vials and the fees to wholesalers and ... More

HPL to buy pentane from GAIL for Rs 50 cr — Keeps option open on naphtha substitute
HALDIA Petrochemicals Ltd (HPL) is keeping its options open on switching to a naphtha substitute by agreeing to buy pentane from GAIL India Ltd. Sources said that among the agreements signed on December 31, 2002 between GAIL and HPL was one on ... More

L&T eyes overseas contracts for growth
CONSTRUCTION giant L&T has set its sights on international jobs to expand and grow. Currently, the jobs outside India constitute just about 9 per cent of its total business volume. The company is aiming to reach 15 per cent by 2007. Disclosing ... More

CBRE expects realty boost
Mr Anshuman Magazine, CEO, sees a lot of activity in the real estate market this year, especially in the retail sector. In the residential and commercial sector, he does not expect a rapid rise or fall in prices. More

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