Automobiles
Bajaj Auto VRS to trim workforce
TWO and three-wheeler manufacturer Bajaj Auto Ltd, under pressure from declining sales in a recessionary market, has announced a Voluntary Retirement Scheme for 5,800 permanent workmen at its Akurdi facility. The move comes at a time when the company's s
ales have gone down substantially forcing it to cutback production by approximately 30 per cent.
Bajaj Auto: Eyeing stake in MUL?
Mr. Rahul Bajaj might be under pressure with declining sales and a stiff competition from any number of new wannabes, but corporate India's Big B is definitely game for some savvy business deals, if they come his way.
Corporate
Ford India to expand dealer network
HAVING projected a sales target of about 21,000 mid-sized cars this fiscal, Ford India Ltd is in the process of ramping up its dealer network and has drawn up plans to reach out to new markets with 66 outlets.
IISL launches Millennium Index
India Index Services and Products Ltd (IISL) today launched the CNX Millennium Index.
`Managing growth is big challenge in IT sector'
INDIAN infotech companies must scale up their infrastructure rapidly, not only within India, but globally too, if they are to achieve an annual growth of 50 per cent or above. And in order to do this, they need to tap global capital markets for mobilisin
g funds. This will again call for more transparency within the corporate system and better investor-friendly attitude, says Mr. N. R. Narayana Murthy, Chairman and Chief Executive Officer of Infosys Technologies.
Product portfolio expansion -- BEML in talks with MNCs
THE public sector unit, Bharat Earth Movers Ltd (BEML), will soon become a one-stop shop, offering all earth moving equipment necessary for mega road projects and towards attaining this goal, BEML will add products not yet in its portfolio, by strategic
tie-ups with multinationals.
Graphite India mulls capacity hike
GRAPHITE India Ltd (GIL) is planning to raise its production capacity in view of the recent increase in demand for its products and the trends that are likely to emerge in the international markets. The annual report for 1999-2000 shows GIL having an ins
talled capacity of 21,900 tonnes.
Sigma Corp sets up rubber parts plant
SIGMA Corporation (India) Ltd (SCIL), a manufacturer and exporter of automobile rubber parts, has set up a new auto parts manufacturing plant at Bhondsi in Gurgaon, near the Capital, at a total cost of Rs. 15 crores.
SHCIL to appoint global consultant for product mix
THE board of directors of Stock Holding Corporation of India Ltd (SHCIL) has decided to appoint an international consultancy firm to obtain detailed suggestions on the innovative product-mix and business strategies for the future. The aim is to successfu
lly meet the growing competition in the fast changing financial scenario and to emerge as the financial super sarket in the country.
Punjab Engineering wind-up proposed
THE Board for Industrial and Financial Reconstruction (BIFR) has proposed the winding up of Punjab Engineering & Cutting Tools Ltd.
Shriram Group venture with CGM Printshop
The Shriram Group, in association with CGM Printshop Pvt Ltd of Sri Lanka, has formed a new company -- CGM Shriram India Pvt. Ltd. The new company will open business opportunities through a franchisee network to be set up in India and abroad.
Financial Performance
SHCIL net profit up 45%, to pay Rs. 2.25
STOCK Holding Corporation of India Ltd (SHCIL) has achieved a growth of 243 per cent in value of business processed, 72 per cent in value of assets in custody, 47 per cent in total income and 45 per cent in post-tax profit for the year ended March 31, 20
00.
Stocks
Nifty futures trading on Singapore exchange from Sept
THE Singapore Exchange Derivatives Trading Ltd (SGX-DT) will begin trading futures and options contracts on the S&P CNX Nifty Index from September 25, 2000.
Telecommunications
R&D project under way on hi-tech optical fibre
THE Central Glass & Ceramic Research Institute (CGCRI), with the support of the Union Ministry of Information Technology, is working on a major research and development (R&D) project for development of special variety high-tech optical fibres. This was s
tated here o by Dr. H.S. Maiti, Director of CGCRI, at a function held to mark the golden jubilee year of the institute.
