Automobiles
Reva cars handed over to customers
THE Bangalore-based Maini group handed over the first 10 Reva electric cars to customers here, among whom were leading component maker MICO, which took two cars. Reva has been seven years in the making.
Cement
IFCI told to modify revival plan for S. India Cements
IFCI has been directed by the Board for Industrial and Financial Reconstruction (BIFR) to incorporate the amendments suggested in the modified draft rehabilitation scheme for South India Cements Ltd (SICL) and submit to the board.
Cigarettes
ITC seeks reformed legal regime for tobacco sector
ITC Ltd, the country's leading player in cigarettes and cigarette leaf tobacco, has submitted a set of comprehensive recommendations to the Government seeking reforms in the legal framework pertaining to the domestic tobacco industry and stressed on the
need for an effective enforcement.
Corporate
Aban Loyd concludes Hitech acquisition
ABAN Loyd Chiles Offshore Ltd (ALCO) has concluded the acquisition of Hitech Drilling Services India Ltd (HDSI) with the induction of three of its nominees on the board of HDSI.
Financial Performance
Grindwell Norton loss at Rs 50 lakh
BANGALORE: Grindwell Norton Ltd (GNL), which has been given an `A1+' rating by ICRA for its planned short-term debt of Rs 25 crore, has incurred a loss of Rs 50 lakh during the quarter ended March 31, 2001.
Pfizer net rises 35%
PFIZER India Ltd has registered a 35 per cent increase in net profit at Rs 21.40 crore in the six months ended May 31, 2001 as against Rs 15.89 crore in the same period the previous year.
Petrochemicals
Andhra Petro board meet on July 16
VISAKHAPATNAM: The board of directors of Andhra Petrochemicals Ltd will meet on July 16 at Hyderabad to consider and take on record the audited accounts for the year ended March 31, 2001 and unaudited financial results (provisional) for the quar
ter ended June 30, 2001, according to Dr Mullapudi Harischandra Prasad, Managing Director of the company. -- Our Bureau
Pharmaceuticals
`Indian pharma cos should be wary on patents'
THE Indian Drug Manufacturers' Association (IDMA) has been at the forefront in voicing the woes of the domestic pharmaceutical manufacturers. This is at a time when the industry has been going through a critical phase with the deadline for the implement
ation of the World Trade Organisation and TRIPS agreement guidelines drawing near.
Shipping
Essar Shipping to exit offshore vessel business
THE Rs 472-crore Essar Shipping Ltd (ESL) plans to exit its offshore vessel (OSV) business.
Stocks
Suits for default -- CSE gets feelers for out-of-court settlement
THE Calcutta Stock Exchange, which has so far filed eight suits to recover dues from defaulters, has received feelers from certain defaulting parties on the possibility of working out out-of-court settlements.
SEBI report on insider trading in Hitech soon
THE Securities and Exchange Board of India (SEBI) has found instances of insider trading in its investigation into the unusual movement in share price and volumes of Hitech Drilling Services India Ltd (HDSI) during March.
Focus turns on fund transfers
A COUPLE of weeks ago, when the High Level Committee on Capital Markets met in New Delhi, one of the items on the agenda, which came up for review was the progress made in the setting up of the real time gross settlement systems (RTGS) and
the electronic funds transfer (EFT).
