Automobiles
Indica output target raised
TATA Engineering which has witnessed sales of the Indica plunging over the last few months is revving up again with targeted production figures more than doubling for February and March.
Corporate
Award for Framatome Connectors OEN
KOCHI: Framatome Connectors OEN Ltd has won the national award for excellence in indigenisation of defence products instituted by the Department of Defence Production and Supplies, Ministry of Defence.
No more investments in Kesoram, says Shiv Kumar
``THERE will be no more acquisitions with regard to the Birla-owned Kesoram Industries (KIL),'' said Mr Shiv Kumar of Genesis International, the Dubai-based offshore investment company.
AMP IndAsia corpus touches $55 million
AMP IndAsia Fund has raised $35 million this year, taking its total corpus to $55 million. It plans to increase the fund size to $75 million. IndAsia Fund Advisors had been seed-funded to the extent of $25 million in 2000.
Ikon rolls to South Africa, Mexico
FORD Ikon, made at the Maraimalai Nagar plant near here, has been launched in South Africa and Mexico.
Govt told to submit fresh scheme for Hind Antibiotics
HINDUSTAN Antibiotics Ltd (HAL) and its promoter, the Union Government, have been directed by the Board for Industrial and Financial Reconstruction (BIFR) to submit a revised scheme to IDBI, the operating agency, indicating the minimum fresh commitment f
rom the Government by April 6.
Notice for wind-up of Genelac to be issued
THE Board for Industrial and Financial Reconstruction (BIFR) has directed issuance of a show-cause notice for the winding-up of Genelac Ltd, since there has been no progress in the implementation of the sanctioned scheme, though the company has been enjo
ying protection under the Sick Industrial Companies (Special Provisions) Act, 1985 for the past 10 years.
`Magnetizer jt venture only after pick-up in business'
THE $100-million Magnetizer Inc of the US, a global leader in mono-pole technology for water purifier products, is still interested in floating an Indian joint venture with its existing sole trading partner, the city-based Myriad group.
Nisco proposes upgradation of facilities
NATIONAL Iron & Steel Company Ltd (Nisco), a West Bengal Government undertaking, which recently installed an 18-inch bar mill at its plant near Belurmath at a cost of Rs 10 crore provided by the Government, is considering further investment proposals.
Trayons faces closure for want of funds
THE operations of the sick Travancore Rayons Ltd (Trayons) at nearby Rayonpuram might come to a grinding halt if the funds promised by the State Government about an year back failed to reach the company.
Mutual Funds
SBIMF launches new open-ended scheme
SBI Mutual Fund (SBIMF) today added one more open-ended income fund to its family of funds by launching its latest monthly income scheme.
Petrochemicals
GSPC pact to supply CNG
GUJARAT State Petroleum Corporation Ltd (GSPC) has signed an MoU with the Gujarat Gas Company Ltd (GGCL) for the development of compressed natural gas (CNG) business in the Surat-Ankleshwar belt.
