Automobiles
Rough ride for two-wheeler cos
IT was a well deserved day of rest for the market players on Thursday. Though the one-day cool-off would not have done anything to alter the fundamentals of the market, it would
M&M goes on a eco-drive for market share
THE Mahindra & Mahindra group, a major player in the light commercial vehicle (LCV), multi-utility vehicle (MUV) and farm sector (tractors) segments has hit the eco trail and making a major foray into tapping solar energy and producing battery powered th
ree wheelers.
Fiat not to import new car CBUs -- Palio roll out by Oct
DESPITE the removal of quantitative restrictions on imports of new cars with effect from April 1, Fiat India Ltd (FIL), the subsidiary of the automobile major Fiat SpA of Italy, is not planning to import passenger cars as completely built units (CBUs) fo
r sale in the country.
Corporate
Flint Ink buys 51% stake in Incowax
FLINT Ink, an US-based $1.4-billion company, has inked a deal here to buy 51 per cent equity in Incowax. Incowax is a supplier of inks to the packaging industry in India.
Modistone gets last chance for revival
MODISTONE Ltd has been given one last chance by the Board for Industrial and Financial Reconstruction (BIFR) to submit a fully tied-up rehabilitation proposal.
T.K. Ispat launches Thermex TMT bars
THE Pune-based T.K. Ispat Ltd has launched `Thermex' brand TMT bars of Henningsdorfer Stahl Engineering (HSE), Germany, through its partner H&K Rolling Mill Engineers Private Ltd, Mumbai.
ECIL registers Rs 560-cr turnover
HYDERABAD: Electronics Corporation of India Ltd (ECIL) has registered a turnover of Rs 560 crore for the financial year 2000-01, a 25-per cent growth, compared to its turnover of Rs 456 crore achieved during the previous fiscal.
Jewellery show in Hyderabad
HYDERABAD: The International Trade & Exhibitions group is planning to hold a jewellery exhibition for four days from April 12 at Hotel Taj Krishna here.
Thermax to pick up 50% in Thailand co
THERMAX Ltd is picking up a 50-per cent stake in Energy Performance Service (Thailand), a subsidiary of Energy Performance Service (EPS) of Canada. The pact is likely to be signed by the end of this month.
Reliance Ind, Petro results on April 30
MUMBAI: Reliance group firms -- Reliance Industries Ltd (RIL) and Reliance Petroleum Ltd (RPL) -- will announce its audited annual results for the year ended March 31, 2001 on April 30. RIL would also declare dividend for the year.
Apollo launches new hospital
HYDERABAD: As part of its plan to have a network of hospitals throughout the country for facilitating entry into the health insurance sector, Apollo Hospitals has entered into a tie-up with a local hospital initially to deliver mother and child care.
`Amend Cos Act to ensure good governance'
IN order to make the boards of financial institutions, banks, corporates and public sector enterprises more professional and autonomous, the advisory group on corporate governance, has recommended a swift ushering in of the reform process.
Financial Performance
BHEL Bangalore units post Rs 9-cr pre-tax profit
THE Bangalore units of Bharat Heavy Electricals Ltd (BHEL) have achieved a turnover of Rs 550 crore with a profit before tax of Rs 9 crore during the fiscal 2000-01. Export turnover touched Rs 95 crore, which included both physical and deemed.
PSU
RINL's cost reduction measures pay dividends
A SLEW of cost reduction measures undertaken by Rashtriya Ispat Nigam Ltd (RINL) have earned significant dividends for the company in the just ended fiscal.
KIOCL awarded AP iron ore project
KUDREMUKH Iron Ore Company Ltd (KIOCL) has been awarded the licence to exploit the low-grade iron deposits in Prakasam district and an iron pellet unit will be set up near Ongole at a cost of Rs 400 crore, Ms A. Uma Madhava Reddy, State Mines and Geology
Minister, has said.
There's still glitter in Bharat Gold, say staff
EVEN as uncertainty over the Government's stand on the ailing Bharat Gold Mines Ltd (BGML) continues, the employees are confident of reviving the company and running it profitably. The confidence stems from a draft revival scheme submitted to the Karnata
ka High Court, which had quashed the Union Government's decision to close the company.
Wage bill, VRS drag down BHEL-Tiruchi profit
BHARAT Heavy Electricals Ltd, Tiruchi complex, has registered a turnover of Rs 1,751 crore during 2000-01, a 10-per cent increase over the previous year's figure of Rs 1,595 crore. Profit before tax, however, was down to Rs 173.3 crore against Rs 216 cro
re the previous year.
ONGC signs MoU with Govt
MUMBAI: Oil and Natural Gas Corporation has signed a memorandum of understanding (MoU) with the Ministry of Petroleum and Natural Gas for the production of 25.2 million tonnes (mt) of crude oil during 2001-2002. The MoU also targets production of 18 bcm
of gas and 3,600 thousand tonnes of value-added products, an ONGC release said.
Steel
Essar Steel HR coil output up
MUMBAI: Essar Steel Ltd has ended the current fiscal with a 10-per cent increase in hot-rolled coils production at 16.82 lakh tonnes compared to 15.30 lakh tonnes in the previous year.
Stocks
Guwahati SE striving for identity
GUWAHATI : Rendered into a speck of an existence in Inter-Connected Stock Exchange of India Ltd (ISE), the Guwahati Stock Exchange (GSE) is currently striving to restore its separate regional identity.
Textiles
Govt upbeat on investment in textile ind
AFTER a protracted spell of dormant investment activities in the country's age-old textile industry, the Ministry of Textiles (MoT) is quite optimistic about possible pick-up in investment this year in the wake of a spate of initiatives centered around t
he industry in recent months.
