Financial Daily from THE HINDU group of publications
Friday, October 10, 2003
Markets (Oct. 9)
BL 2501684.65 (+22.61)
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US Dollar (Buy/Sell)45.28/45.41
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HM to loan excess capacity at its Chennai facility
HINDUSTAN Motors plans to let out excess capacity at its Chennai plant to other car makers while it has pruned the number of Lancer variants to three from five. The Vice-President for automobile division, Hindustan Motors, Mr G. Shyam Sundar, ... More


MTNL staff find VRS unattractive
MAHANAGAR Telephone Nigam Ltd's efforts to reduce its gigantic staff strength of close to 60,000 through a proposed voluntary retirement scheme could come a cropper as its unions appear stubborn in their refusal to accept the scheme. Staff ... More


GAIL to unbundle sourcing, marketing
GAIL India Ltd plans to unbundle its gas sourcing and marketing business into a separate company in the long run. Mr Prashanto Banerjee, Chairman and Managing Director, told reporters on Thursday that GAIL's gas sourcing and marketing business ... More

Panasonic to take up right sizing strategy for brands — Targets Rs 450-cr turnover
A BRAND name alone does not result in high sales as National Panasonic India Pvt Ltd, the wholly owned subsidiary of Matsushita Electric Industrial Co Ltd, seems to have realised. To find its place in the highly competitive consumer ... More


Quipo gets Ingersoll Rand as equity partner
QUIPO, the country's first infrastructure equipment bank, aims to double its business every year for the next three years and increase its asset base to Rs 400 crore by 2005. The Srei International Finance Ltd promoted entity announced on ... More


CESC union rejects VRS proposal
CESC'S main union has rejected the draft VRS package offered by the company management, giving a jolt to the process of manpower rationalisation initiated by the company to cut costs and reduce efficiency. Negotiations on the VRS began after ... More


Timex ties up with Reliance Info for festive season
TIMEX Watches Ltd has tied up with Reliance Infocomm for the festive season and would be providing a Reliance India Mobile (RIM) handset with connection free of cost, on purchase of a watch priced about Rs 845. Under the `Monsoon Hungama' ... More

Bajaj Tempo ties up with German co for truck foray
THE Rs 850-crore Bajaj Tempo Ltd on Thursday announced its entry into the heavy and medium commercial vehicle segment in technical collaboration with German truck and diesel engine technology major MAN. Announcing the collaboration and charting ... More


We expect clear profits by fiscal 2004: Timex MD
AFTER seeing continuous losses over the past few years, Timex Watches India finally seems to be moving with the times and has a turnaround strategy firmly in place. Despite slack growth in the overall watches segment, the company has incurred ... More


RINL hopes to wipe off accumulated losses
WITH the uptrend in prices and demand in the global steel market proving to be a shot in the arm, the Rashtriya Ispat Nigam Ltd (Vizag Steel) is determined to wipe off the Rs 4,500-crore accumulated losses in the next four to five years and make ... More


Tata Motors sales up 49.8 pc in Sept
TATA Motors reported a 49.8 per cent increase in its total vehicle sales, including exports, at 28,302 units during the month of September 2003. For the six-month period ending September, the company's sales volumes increased by 44.5 per cent ... More

Eye care biz helps Bausch & Lomb offset loss on Ray-Ban hive-off
A STRONG performance in its core eye care business has helped Bausch & Lomb India neutralise the loss of the lucrative Ray-Ban sunglasses business that was hived off on the heels of a global realignment. Mr J.P. Singh, Managing Director, ... More


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