Automobiles
Will Reva spark a trend?
SEVEN years in the making, the Maini group's electric car, Reva, is finally on the road. But whether Bangalore will become an EV (electric vehicle) city and set a precedent for other cities in the country and the world to follow only time can tell.
Maruti June sales at 26,092
MARUTI Udyog Ltd (MUL) has sold 26,092 passenger cars in June. This was 64.2 per cent higher than the sales of 15,908 units sold during the corresponding month of the previous year. However, this was substantially lower than the May 2001 sales of 32,264
units.
Hero Honda June sales up 35.5%
NEW DELHI: Hero Honda Motors Ltd, the Delhi-based joint venture between the Hero group and Honda Motor Company of Japan, has recorded sales of 1,05,159 motorcycles in June, up from 77,581 units sold during the same month last year, an increase of 35.5 pe
r cent.
Bajaj to launch new tractors by month-end
THREE-wheeler and tractor manufacturer Bajaj Tempo will launch a new 25 HP tractor and two new variants of its existing 35 and 45 HP tractors by July-end. The company is also gearing up for the launch of its new tractor plant which is expected to go on s
tream by early August.
Corporate
Offloading of stake to SABI -- Mysore Brew, arm may go for dislisting
MYSORE Breweries Ltd (MBL) and its subsidiary Pals Distilleries Ltd are likely to exercise the delisting option following their promoters' decision to offload majority stake to South African Breweries India (SABI) Ltd.
Safeguard duty on phenol extended
DOMESTIC producers of phenol have cause for cheer, with the Finance Ministry extending the safeguard duty on imported phenol for two more years up to June 2003.
Sale of US-64 units -- Bombay Dyeing incurs Rs 22.89-crore loss
BOMBAY Dyeing and Manufacturing Company Ltd had incurred a loss of Rs 22.89 crore on sale of 5,92,98,450 units of Rs 10 each of Unit Scheme, 1964 (US-64) to the Unit Trust of India (UTI) during fiscal 2000-01.
Saregama to introduce ESOP
KOLKATA: Saregama India Ltd is planning to introduce an employees stock option plan (ESOP) for its managers. This is part of a series of HR initiatives the music company has lined up to ensure a high degree of performance-orientation among its employees
while giving them a sense of ownership.
A shot in arm for TCC
KOCHI: The imposition of anti-dumping duty on imported sodium chloride, commonly known as caustic soda, could benefit the state-owned Travancore Cochin Chemicals Ltd (TCC), which is on the path to recovery from the red.
Engineering
BHEL bags order for Australia
BHARAT Heavy Electricals Ltd (BHEL) has achieved a major breakthrough in Australia by securing a export order for three gas turbine generating units.
Financial Performance
Bharat Electronics net at Rs 155.21 cr
BANGALORE: The board of directors of Bharat Electronics Ltd, which met on Monday to consider the accounts for 2000-2001, recommended a dividend of 40 per cent (Rs 4 per equity share of Rs 10 each) as against 25 per cent paid in the previous year.
Nava Bharat net at Rs 5.94 cr
HYDERABAD: Nava Bharat Ferro Alloys Ltd, a Hyderabad-based company, has recorded a net profit of Rs 5.94 crore for the fiscal 2000-2001, against Rs 5.30 crore in the previous year.
Tips net slips to Rs 7.19 cr
NEW DELHI: Tips Industries Ltd has registered a net profit of Rs 7.19 crore for the financial year ended March 31, 2001 as against Rs 23 crore recorded in the previous year.
Management
Young professionals seek that bit more
DESPITE good compensation packages and fancy designations, young professionals today yearn for emotional support and recognition. They want to be `taken care of' and increasingly look towards the human resources (HR) department for fulfilling this need.
Mutual Funds
ICICI Power turning open-ended -- New flexible lifetime investment scheme
ICICI Power, launched in 1994 in a close-end form, is being converted into an open-end fund, subject to approval from the Securities and Exchange Board of India.
Pharmaceuticals
Pfizer: Focus on operating skills
PFIZER'S sharp focus on improving operating efficiencies helped the company record a 35 per cent increase in net profit in the first half of the financial year 2000-01 (the financial year ends in November).
Steel
Tata Steel to develop new coking coal mine
TATA Steel has decided to open a new captive coking coal mine - South-Eastern Block (SEB) - at its West Bokaro Collieries (WBC) in view of the depleting reserves at its two existing mines, one at WBC and the other at Jharia, all in Jharkhand.
In-house revamp helps RSP save cash outflow
ROURKELA Steel Plant (RSP) has achieved substantial savings through in-house revamping of rail-crane by its loco maintenance division. The 25-year-old crane's capacity had been downgraded to 12 tonne which is at 30 tonne now. The original supplier Americ
an Hoist and Derrick Co had quoted Rs 4.5 crore for the job which RSP revamped at Rs 1 crore.
