CORPORATE
MODERNISATION
Cordite Factory goes on modernisation drive
THE Cordite Factory, Aruvankadu (CFA), in the Nilgiris, is being modernised at an estimated cost of about Rs 400 crore. The plan includes modernisation of the nitrocellulose and sulphuric acid concentration plants in the factory, which will ...
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ANNOUNCEMENTS
TVS plans to roll out electric three-wheeler
TWO-WHEELER maker TVS Motor Company intends to roll out an electric-powered three-wheeler in the next 24 months, a senior company official has said. The concept electric vehicle is also being showcased at the ongoing Auto Expo in the Capital. ...
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OUTSOURCING
Auto sector urged to tap outsourcing market
THE Deputy Prime Minister, Mr L.K. Advani, on Thursday asked the automobile industry to play a far more effective role to boost the growth of the Indian economy. "If the Government and the private sector synergise more, the feel good factor can ...
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TAXATION
Getaways in the demerger route
The definition of demerger requires a relook in the light of abuse of corporate tax incentives, says T. C. A. Ramanujam
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FINANCIAL PERFORMANCE
Finolex Ind net doubles to Rs 28.4 cr
FINOLEX Industries Ltd (FIL) has doubled its net profit for the quarter ended December 2003 as compared to the quarter ended December 2002. According to an official release from the company, the net profit stood at Rs 28.4 crore as compared to ...
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RESTRUCTURING
Morarjee Weaving to demerge tools unit
MORARJEE Goculdas Spinning & Weaving Company Ltd has informed the Bombay Stock Exchange that the court convened meeting for approval of the scheme of arrangement between the company and Canere Actives & Fine Chemicals Pvt Ltd, for demerger an
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MERGERS & ACQUISITIONS
Lotte picks up 60.39% in Parrys Confectionery
THE Chennai-based Murugappa group on Friday said that it was selling its 60.39 per cent stake in a group company, Parrys Confectionery Ltd (PCL), to Lotte Confectionery Co Ltd of Korea for Rs 64.47 crore. This works out to a price of Rs 283.12 ...
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ALLIANCES & JOINT VENTURES
Bajaj Tempo to enter HCV segment; ties up with MAN
AUTOMOBILE manufacturer, Bajaj Tempo Ltd, today announced that it would enter the heavy commercial vehicles (HCV) segment in the next 12 months following its technology tie-up with MAN of Germany. The company also said that it would be ...
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EVENTS
War is a corporate weapon: WSF leaders
THE World Social Forum 2004 opened here with the decided recognition that war has arrived as a weapon to further economic interests of powerful nations and large corporations. Speakers at the opening plenary of the WSF agreed that the American ...
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SICK UNITS
FACT board meet on Jan 31
OUTLOOK
Rs 1 lakh car very much on Tatas' radar
WITH much speculation in the air about the proposed Rs 1 lakh car that Tata Motors is conceptualising and developing, Mr Ratan Tata's comments at the Auto Expo here only added to the raging curiosity levels that has already given the dream car an ...
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Zydus Cadila chalks out growth plans for US, Europe markets
ZYDUS Cadila, the Ahmedabad-based pharma company, has embarked on a two-pronged strategy to grow its operations in the US and European generic drugs market. Even as it actively explores possibilities for more acquisitions in the European market, ...
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Skoda may use India as hub for exports
CZECH carmaker Skoda Auto said on Friday here that the success of Octavia had spurred the company to increase its commitment in the country and use it as an export hub at a later stage. "We could look at using India as an export hub in the near ...
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Suzuki motorcycle to roll out in 2005
SUZUKI Motor Corporation, the Japanese auto major, is planning to launch a range of scooters in India after the company introduces its motorcycles in the country in the middle of next year. The company, which earlier had a joint venture with ...
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Yamaha targets 33 pc sales in 2004
YAMAHA Motor is betting on its new launches and improved dealer networks to boost sales in India by over 33 per cent in the current year, a top company official has said. "Our target is to sell 3.5 lakh bikes this year," said Mr Hiroshi ...
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Tata Motors chalks out plans for overseas foray
TATA Motors is exploring the possibilities of pushing forward its exports performance through new overseas acquisitions and by entering into alliances in countries where it currently does not have a presence. The company plans to use the ...
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100 pc FDI cap may pave way for Shell's retail operations
THE Cabinet's approval on Thursday of allowing 100 per cent foreign direct investment (FDI) in the petroleum marketing business will make it easier for multinational oil major Royal Dutch/Shell to set up retail operations. Shell had earlier ...
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