Automobiles
TVS Suzuki total sales up in June; bike slows down
TVS Suzuki Ltd has reported a total sales volume of 70,111 units for June as against sales of 62,812 units reported in May, representing an increase of about 12 per cent.
Ford India June sales down
FORD India Ltd's (FIL) sales in June this year was considerably lower than the sales recorded during the previous month. During June, 2,993 units of the Ford Ikon were sold. This included domestic sales of 1,103 units and exports of 1,890 units.
Bajaj Tempo turnover takes a knock on strike effect
BAJAJ Tempo Ltd (BTL) has reported a nine per cent dip in turnover for the financial year ended March 31, 2001. The company has recorded a turnover of Rs 632 crore against Rs 693.9 crore in the previous year.
Automartindia in talks for used car insurance
USED cars dealer Automartindia Ltd is in the process of tying up with some insurance companies to give its customers a package deal, which will include a warranty and an insurance cover.
Consumer Electronics
VDO Dayton car radio launch by October
IF Radio City is here, the first private FM channel to be launched in India, then car radios cannot be far behind.
Corporate
Pru ICICI AMC takes stake in Balaji Tele
MUMBAI: Balaji Telefilms Ltd has informed the Bombay Stock Exchange that Prudential ICICI Asset Management Company Ltd has acquired 6.15 lakh shares, representing 5.97 per cent of its equity.
Rallis okays sale of surplus land
MUMBAI: The board of Rallis India Ltd has approved the disposal of its surplus land situated at Suren Road, Andheri, in the city, subject to getting all clearances.
Financial Performance
Jayant Agro net at Rs 12.11 cr
MUMBAI: Jayant Agro-Organics Ltd, a 100 per cent export-oriented unit, has reported a net profit of Rs 12.11 crore for the year ended March 31, 2001.
Information Technology
FIIs' ceiling hiked in Maars, Infosys
MUMBAI: The Reserve Bank of India (RBI) has said that foreign institutional investors can now purchase equity shares and convertible debentures of Maars Software International Ltd and Infosys Technologies Ltd up to 40 and 49 per cent respectively.
Mutual Funds
US-64 scheme: Assocham seeks long-term plan
THE Associated Chambers of Commerce and Industry (Assocham) has called for a long-term strategy to sustain the real net asset value of the US-64 units.
HDFC MF hopes to sustain expansion of asset base
THE year-old HDFC Mutual Fund expects to sustain its asset growth. Started with Rs 650 crore and three products last year, the mutual fund had over Rs 2,556 crore in six schemes as on June 30, 2001. The MF is also to launch its gilt fund and fixed income
plan in a couple of weeks.
Paper/Packaging
Dalmias offer Rs 100-cr plan for Punalur Paper
THE Dalmias of Kolkata, promoters of Punalur Paper Mills Ltd (PPM), have submitted a detailed proposal for the revival of the company which has been lying closed since 1987.
Pharmaceuticals
Dr Reddy's gets nod to market biotech product
DR Reddy's Laboratories Ltd (DRL), the Hyderabad-based pharma major, has announced that it has obtained the approval from the Drug Controller General of India (DCGI) to market its first biotechnology product `Grastim', the human granulocyte colony stimul
ating factor (hG-CSF).
ICI expands pharma capacity -- Search for suitor `still on'
EVEN as ICI India Ltd. (ICIIL) scouts for a suitable suitor for its pharmaceutical business, it continues to grow the business in terms of expanding capacities at its Ennore plant, implementing ERP and embarking on product expansions.
Glaxo executes `deed'
MUMBAI: Glaxo (India) Ltd told BSE that it has executed the Deed of Assignment for the transfer of its premises at S.K. Ahire Marg in Mumbai to Hongkong and Shanghai Banking Corpn. Ltd, currently occupied by them for a consideration of Rs 40 crores. --
Our Bureau
Transfer pricing norms make pharma MNCs wary
TRANSFER Pricing norms are likely to put multinational companies in the pharmaceutical industry on the back foot.
Power
Govt mulling SAIL Power generation for national grid
SAIL Power Supply Company Ltd (SPSCL), the 50:50 joint venture between Steel Authority of India (SAIL) and the National Thermal Power Corporation (NTPC), is likely to get a shot in the arm with the Government planning to explore the possibility of allowi
ng it to sell its excess generation to the national grid.
Textiles
Century Enka proposes to cancel small lot shares -- To offer 12 pc NCD of Rs 71 each
CENTURY Enka, a joint venture between Akzo Noble and B K Birla group, has proposed cancellation of equity shares of Rs 10 each held in small lots.
