CORPORATE
ANNOUNCEMENTS
Reliance, Niko find gas in K-G Basin
RELIANCE Industries Ltd and partner Niko Resources have made two new gas discoveries at the D-6 deepwater block in the Krishna-Godavari basin in the Bay of Bengal. The two partners had announced year 2002's largest gas find of 14 trillion cubic ...
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Godavari Fert ceases to be CFL subsidiary
COROMANDEL Fertilisers Ltd (CFL) has informed the bourses that the holdings of the company in Godavari Fertilisers and Chemicals Ltd (GFCL), consequent to sale of 16,00,000 equity shares to Groupe Chimique Tunisien (GCT), have come down to 45.07 ...
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Orchid's anti-diabetic molecule clears clinical trials
ORCHID Chemicals & Pharmaceuticals Ltd on Thursday said an anti-diabetic molecule that its US joint venture Bexel Pharmaceuticals Inc has been working on, has cleared clinical trials for toxicity and safety levels in Europe. In a press release, .
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OUTSOURCING
Continental to source tyre tubes from Metro
GERMAN tyre major Continental AG has decided to source its global requirements of four-wheel automotive tubes from Metro Group. An outsourcing agreement has now been signed between Continental AG and Metro Group. "Metro Group will set up a new ...
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ENVIRONMENT
No clearance to ChemPlast Krishnapatnam unit
HYDERABAD: The Andhra Pradesh State Pollution Control Board (APSPCB) has not given clearance to the Chemplast (PVC) unit at Krishnapatnam in Nellore District of the State. In response to the public demand, objections of the public, ...
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TAXATION
Assocham plea to abolish MAT
THE Associated Chambers of Commerce and Industry of India (Assocham) has mooted a proposal to the Ministry of Finance to abolish Minimum Alternative Tax (MAT), which retards the corporate growth, to offload additional burden on progressive ...
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MANPOWER
Bharat Petroleum announces VRS
BHARAT Petroleum Corporation Ltd on Thursday announced a voluntary retirement scheme for its employees. The scheme, which opened today, will be on till May 31. The VRS scheme is the "standard" Department of Public Enterprises (DPE) package ...
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HUMAN RESOURCES
Tata Steel, workers' union in pact for JUSCO transfer
A MEMORANDUM of understanding (MoU) has been signed between Tata Steel and Tata Workers Union on March 31, whereby, the employees of Town Division of Tata Steel has been transferred to the newly formed Jamshedpur Utilities & Services Company ...
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IPOS
Spanco issue
SPANCO Telesystems & Solutions has announced its offer of 69.85 lakh equity shares of face value Rs 10 each for cash at a premium of Rs 15 per share to the member of the company in the ratio of one new equity share for every share held. The ...
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SICK UNITS
Kerala Cabinet okays Trayons promoter's revival plan
THE State Cabinet on Wednesday approved the Coimbatore-based promoter, Mr N. Damodaran's revival proposals for Travancore Rayons Ltd (TRL) at nearby Perumbavoor. According to Mr P.V. Sukumaran, Joint Convenor of the Rayons Samrakshana Samithi, ...
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OUTLOOK
LG bullish on India; plans to triple growth
ENTHUSED by its success in the Indian market, LG Electronics Inc, parent of LG Electronics India Pvt. Ltd (LGEIL), has chalked out clear strategies to further strengthen its brand position in the country. "LG plans to triple its growth in three ...
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Philips India aims 100 pc growth in 5 yrs — Proposes to sell HTP unit
The HTP unit near Pune, which made products with applications in automotive, electronics and electrical goods, contributed less than 3 per cent to the company's turnover.
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PERFORMANCE
Tata Steel output touches 4 million tonnes
TATA Steel on Thursday informed that it produced 4.09 million tonnes of saleable steel in 2003-2004, up by 3.8 per cent from the previous fiscal's figure. "Hot metal production at 4.47 million tonnes was an all time high. The company ...
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Hero Honda sales cross two-million mark in a year
HELPED by new model launches, Hero Honda today announced that it has achieved a new sales record of over two million motorcycles in a single year (2003-04). The company sold 20,70,157 motorcycles during the year, a jump of 23 per cent over ...
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MMTC Singapore arm posts record turnover — Makes foray into sophisticated, competitive markets
MMTC's wholly-owned overseas subsidiary, MMTC Transnational Pte Ltd (MTPL), Singapore, has logged the highest business turnover in the fiscal year just ended, ever since its inception a decade ago, thanks to the pursuit of "sustained ...
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Maruti sales rise 30 pc in 2003-04
The compact car segment, consisting of the Maruti Zen, Alto, and WagonR, drove sales for the company in the year.
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HPC, subsidiary post Rs 870-cr combined turnover
THE State-owned Hindustan Paper Corporation (HPC) has ended the 2003-04 fiscal surpassing all previous records in production and sales of both writing and printing paper and newsprint. The combined sales turnover of HPC and its wholly-owned ...
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Bajaj Auto sales rise 26 pc
BAJAJ Auto Ltd (BAL) today informed that its total sale of 2&3-wheelers in just ended March, rose by 26 per cent to 138,801 units as compared to the previous corresponding 110,224 units. Sale of 2-wheelers for the period increased by 26.2 per ...
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BEML posts Rs 1,771-cr sales turnover
PUBLIC sector Bharat Earth Movers Ltd has posted sales turnover of Rs 1,770.61 crore for the year ended March 31, taking it up by 5.7 per cent over sales figures for the year 2002-03. Last year, it made sales of Rs 1,675 crore. Profit before ...
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TVS Motor sales grow at 2.5 pc
TVS Motor Company has ended 2003-04 with a growth of 2.5 per cent in sales, a press release from the company says. In the previous year, the company had sold 11,19,355 two-wheelers. This rise was possible because of a 24 per cent increase in ...
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Ford India scores record sales in March
FORD India on Thursday said it sold over 3,200 cars in March, its highest ever monthly sales. The figure was almost double the sales in March 2003, according to the company. The company sold 3,035 units of the Ikon, 185 units of the Endeavour ...
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HAL registers record turnover at Rs 3,690 cr
HINDUSTAN Aeronautics Ltd (HAL) has closed the year ended March 31, 2004, with provisional turnover of Rs 3,690 crore, it's highest so far. Its provisional profit stands at Rs 445 crore, compared to the net profit of Rs 451 crore for the fiscal ...
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PEOPLE
New VSP Director
TRENDS
Coke gets reprieve in Kerala
COCA-Cola on Thursday got a breather in Kerala with the State Government issuing a stay on the order of a local panchayat, which had asked the company not to operate its plant at Plachimada in Palakkad district from April 1. "We appealed to the ...
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