The Hindu Business Line : Tuesday, January 28, 2003

India to become component sourcing base for Ford
LEADING automobile manufacturer, Ford Motor Company, is working towards using India as its component-sourcing base. "We have already confirmed 6-7 local suppliers to supply components to Ford subsidiaries elsewhere, while another 5-6 suppliers ... More

Indian unit to be Honda's genset export hub — Production capacity to be hiked
AS a part of its global strategy, Honda has decided to make its Indian facility - - Honda Siel Power Products Ltd (HSPP) - - manufacturing generator sets and engines, a hub to cater to the global exports market needs. Honda holds 66.7 ... More

Radaan Media to raise Rs 10.85 cr through IPO
RADAAN Mediaworks (I) Ltd, the city-based television content company promoted by actress Ms R. Radikaa, is entering the capital market to raise Rs 10.85 crore through an initial public offer. The company is offering 27.12 lakh equity shares to ... More

Ranbaxy gets ready to plunge into US
THE success story scripted by domestic pharma major, Ranbaxy Laboratories Ltd, in the US market is poised for a significant development, as the company prepares to launch its branded products there by March. "The first to be introduced will be ... More

OVERSEAS BORROWINGS

Infosys ADS among 50 FDI plans cleared
INFOSYS Technologies Ltd's plan to increase its American Depository Shares (ADS) shareholding from the present 3.25 per cent to between 6.27 per cent and 7.78 per cent involving foreign direct investment (FDI) inflow between Rs 1,430 crore and Rs ... More

AWARDS & HONOURS

MICO felicitated

FINANCIAL PERFORMANCE

TVS Motor posts record turnover — Victor propels sales to Rs 2,000 cr; Q3 net at Rs 32 cr
BUOYANT sales of TVS Victor motorcycle has enabled TVS Motor Company achieve sales of over Rs 2,000 crore for the first time in its history and generated enough revenues to make the company almost debt-free. Not even the Rs 120-crore capital ... More

Escorts turns around on buoyant sales
NEW DELHI: Escorts Ltd has reported a net profit of Rs 26.14 crore for the quarter ended December 31, 2002, compared to a net loss of Rs 21.06 crore in the corresponding quarter in 2001. The company's total income has increased by 49.7 ... More

JB Chemicals net rises 13 pc
MUMBAI: JB Chemicals & Pharmaceuticals Ltd has registered a 13 per cent increase in net profit at Rs 11.43 crore in the quarter ended December 31, 2002 against Rs 10.04 crore in the corresponding period last year. Net sales have gone ... More

Rain Calcining net up 71 pc
HYDERABAD: Rain Calcining Ltd (RCL), the Visakhapatnam-based calcined petroleum coke and power producer, has achieved a growth of 31.78 per cent turnover and 70.65 per cent in net profit for the third quarter of current fiscal ended ... More

Samtel Color net dips
NEW DELHI: Samtel Color Ltd, part of the Rs 1,200-crore Samtel group and manufacturers of colour picture tubes (CPT) in India, has posted a 29 per cent rise in its gross turnover to Rs 254.07 crore for the quarter ended December 31, ... More

Titan turnover up 10.5 pc in Q3
TITAN Industries Ltd has reported 10.5 per cent rise in its turnover during the third quarter of the current financial year compared to the corresponding period last year. Net sales during this period stood at Rs 228 crore, up from Rs 207.44 ... More

Ingersoll Q3 net up
MUMBAI: Ingersoll-rand (India) Ltd posted an improved net profit of Rs 15.84 crore in the third quarter ended December 31, 2002. This was 18.30 per cent more than the Rs 13.39 crore recorded in the corresponding previous period. Net ... More

Castrol net rises 41% on low costs
LOWER raw material costs and supply chain efficiencies have resulted in a 41 per cent jump in Castrol India's net profit for the year ended December 31, 2002. Net profit stood at Rs 152.89 crore (Rs 108.40 crore) despite a slight fall in net ... More

Grasim rides on all-round performance; net up 68%
GRASIM Industries has reported a 67.9 increase in net profit (after tax but before exceptional items) for the third quarter ended December 31, 2002. The company its results have been "on the back of improved performance from all its businesses." ... More

MERGERS & ACQUISITIONS

SABMiller to buy Deccan Breweries for Rs 8.5 crore
SABMiller has struck a deal with the Balaji group to buy its brewing entity, Deccan Breweries, in Andhra Pradesh for Rs 8.5 crore. With this, the world's second largest brewer is gaining a crucial foothold in the most buoyant beer market in ... More

Shreya acquires Plethico business
THE Mumbai-based Shreya Life Sciences Pvt. Ltd today announced the acquisition of Plethico Pharma's domestic ethical drugs business for a total consideration of Rs 85 crore. The company is to fund the acquisition through internal accruals and ... More

CORPORATE GOVERNANCE

Corporate frauds put focus on PR ethics
"Though over the years, professionalism in PR has improved in India, there are some grey areas, which need to be looked into." More

NEW PROJECTS

Bristlecone India centre takes off
BRISTLECONE, a US-based company which provides supply chain management solutions, has announced the launch of its Indian operations. The company is making an investment of Rs 3 crore in the Indian centre, which will have 25 engineers to start ... More

Farm biz recruitment co opens office in Mumbai
AGRI-ASSOCIATES, an international recruitment and consultancy firm with focus on agriculture and food-related businesses has set shop in India with an office in Mumbai to offer specialised services for the domestic food industry. The ... More

ALLIANCES & JOINT VENTURES

Versatile Sound, London co pact

IPOS

Maruti IPO to hit market in March
The public issue will mark the second stage of divestment after Suzuki Motor Corp acquired management control last year. More

OUTLOOK

Toyota expects 36% rise in Qualis sales — Topline remains flat during 2002
TOYOTA-KIRLOSKAR Motor Ltd (TKML) has said it expects to sell 34,000 units of the New Qualis during 2003, nearly 36 per cent more than the previous year, even as its revenues remained flat during 2002 largely because of a workers' strike in its ... More

SAIL to improve mining to boost productivity
THE Raw Materials Division (RMD) of the Steel Authority of India Ltd (SAIL) is trying to improve the quality of its raw materials, especially iron ore, in order to assist its parent's efforts to boost blast furnace productivity. An RMD release ... More

PERFORMANCE

Chennai Container Terminal traffic goes up by 17 pc
CHENNAI Container Terminal Private Ltd (CCTL) registered a 17 per cent growth in container traffic during January-December 2002 over the same period in the previous year. The company, which runs the Chennai port's container terminal under a ... More

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