Financial Daily from THE HINDU group of publications
Tuesday, June 22, 2004

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HM offers 3-year warranty on Lancers
HINDUSTAN Motors has announced a three-year and 50,000 km extended warranty offer for its Lancer cars. It expects to increase its sales by 20 per cent this year with a slew of launches. Addressing a press conference here today, the Chief ... More

Tata Motors unveils vehicle range for S Africa
TATA Motors and Tata Africa today unveiled a range of passenger cars, utility vehicles, pick-ups, trucks and buses for the South African market. ``The pick-ups, light trucks and buses will be available for sale in South Africa immediately, ... More

Grasim to procure blended fabrics from China
AS part of its strategy to meet the satisfaction of domestic consumers, textile division of Grasim Industries Ltd (GIL), an Aditya Birla Group outfit, plans to give more thrust to outsourcing special types of blended fabrics from China. The ... More

Sony India streamlines manufacturing operations
SONY India Pvt Ltd, the Indian arm of the Japanese electronics major Sony Corporation, has decided to streamline its business operations in the country by increasing its import of finished goods for providing wider and the latest selection for ... More

United Home looks for investors
UNITED Home Entertainment, an associate company of UTV Software Communications Ltd, is looking at bringing investors on board. A due diligence is being carried out for this purpose. Currently, UTV Software holds 49 per cent and Mr Ronnie ... More

UTV promoter consolidates holding — Draft prospectus for IPO likely to be filed in three weeks
UTV's promoter and largest shareholder, Mr Ronnie Screwvala, on Monday announced that he had completed a buyback of shares from News Corp (Star) and CDPQ, a pension fund from Canada, to take his shareholding to 54 per cent ahead of a possible ... More

Good response to Grasim open offer for UltraTech Cemco
GRASIM Industries said there has been an "overwhelming response" to its open offer for 30 per cent stake in UltraTech Cemco, the cement business recently demerged from Larsen & Toubro. The open offer, priced at Rs 342 per share, closed ... More

Tecumseh India to set up rotary compressor unit
TECUMSEH Products India Ltd (TPIL), a 100 per cent subsidiary of $2-billion Tecumseh Products Company (TPC), US, will set up a modern plant at its Hyderabad facility to manufacture rotary compressors in India mainly to reach exports markets. ... More

VSP plans Rs 3,000-cr capacity expansion
VISAKHAPATAM Steel Plant (Rashtriya Ispat Nigam Ltd) plans Rs 3,000-crore expansion of its capacity to five million tonnes (m.t.) by 2008, from the present 3.5 m.t., according to the Chairman-cum-Managing Director, Mr B.K. Panda. He told ... More

L&T-John Deere, SBI sign pact for tractor finance
L&T-John Deere Private Ltd has signed a memorandum of understanding (MoU) with State Bank of India for tractor finance. "This joint financing scheme with the country's largest bank is part of our efforts to provide complete solutions to ... More

Panel to review revival plans of PSUs
THE Union Minister for Heavy Industries and Public Enterprises, Mr Santosh Mohan Dev, has said the Ministry has set up a committee to take a fresh look at ailing public sector units and examine their chances of revival. Addressing a meet at ... More

Heritage Foods turnover up
HYDERABAD: Heritage Foods (India) Ltd has posted a turnover of Rs 234.49 crore, other income of Rs 1.34 crores and a net profit of Rs 17.62 crores during 2003-04. This is a higher turnover and profit statement when compared to the ... More

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Govt to unveil national foreign trade policy in July — Focus likely on non-IT services sector

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