Automobiles
GM `OK 5 Star' in more cities likely
NEW DELHI: General Motors India Ltd (GM), the fully-owned subsidiary of US General Motors Corp, is planning to extend its `OK 5 Star' branded outlets to buy and sell used car programme to more cities, a top company official has said.
Hero Honda to drive out of `risky' investments
WITH the stock market falling to eight-year low levels, Hero Honda Motors Ltd has begun cutting down its exposure to ``risky'' equity-related investments by exiting from some mutual fund investments, a top company official said.
Delphi tie-up to `ignite' Lucas TVS Diesel
DELPHI Automotive buying the UK-based Lucas Industries' stake in the Indian joint venture, Lucas TVS Diesel Systems, is a good development for the joint venture, the Lucas TVS' Managing Director, Mr T.K. Balaji, told Business Line .
TVS-Suzuki rolls out Victor in Delhi
NEW DELHI: Amid the brewing controversy between TVS and Suzuki Ltd, the joint venture two-wheeler maker TVS-Suzuki Ltd today launched the Victor motorcycle in New Delhi.
Splendor sales cross 2-million mark
NEW DELHI: Hero Honda Motors Ltd, the largest motorcycle manufacturer, has said the sales of its top-selling Splendor model has crossed the two-million mark.
Corporate
Kirloskar Copeland's `eco thrust' paying dividends
COMPRESSOR manufacturer Kirloskar Copeland Ltd (KCL) on Wednesday said it has achieved a total sale of one lakh eco-friendly compressors in the commercial refrigeration segment in India, the first domestic company to have achieved this level.
HOC against sale of Hind Fluorocarbons
HINDUSTAN Organic Chemicals Ltd (HOC) has objected to the sale of its subsidiary, Hindustan Fluorocarbons Ltd (HFL) to Guarniflon S.P.A. of Italy as per the BIFR order.
DCA orders action against Kirtami Exim
THE Department of Company Affairs (DCA) has ordered prosecution of Kirtami Exim Ltd, a Meerut-based company and its directors in default for violation of the provisions of Section 383 A of the Companies Act, 1956 for not appointing a full-time qualified
company secretary even though the paid-up capital of the company was more than Rs 50 lakh.
`Fall in diesel use will hit oil industry'
A SHARP fall in diesel consumption (negative growth compared to the previous year) is expected to hit network expansion plans of the oil industry, warned Mr U. Sundararajan, Chairman and Managing Director, Bharat Petroleum Corporation Ltd.
HC turns down EIH union plea
KOLKATA: Mr Justice Bhaskar Bhatacharya of the Calcutta High Court has declined to pass any interim order on an application filed by the Oberoi Grand Hotel Employees' Union (OGHEU).
Entertainment sector needs a make-over
THE entertainment industry requires higher level of corporatisation, financing channels, adequate infrastructure and higher professionalism for sustainable wins, according to Mr Munesh Khanna, Head - Corporate Finance, Arthur Andersen.
Elque Polyesters debt to be revamped
THE prospects of Elque Polysters Ltd (EPL) of the Sen group extricating itself from the Board for Industrial and Financial Reconstruction (BIFR) net has brightened with financial institutions and commercial banks finalising fresh schemes for restructurin
g loans taken by the company between 1996 and 1998 for setting up a PET resin project at the Falta export processing zone in West Bengal.
Financial Performance
Pfizer net rises 14%
PFIZER Ltd has posted a 14 per cent increase in net profit at Rs 14.70 crore in the quarter ended August 31, 2001 as against Rs 12.90 crore in the same period the previous year.
Hindusthan Seals posts higher sales
KOLKATA: Hindusthan Seals Ltd, the flagship company of the Manaksia group of industries, has recorded 46 per cent growth in operations in the first quarter of the current financial year. Net sales during the period increased to Rs 69.73 crore from Rs 47.
72 crore in the same period of the previous year, thus boosting quarterly profits substantially.
Mutual Funds
Prudential ICICI scripts Nifty, Sensex trackers
PRUDENTIAL ICICI Mutual Fund has proposed to launch, subject to SEBI clearance, two index funds packaged into one. Christened Prudential ICICI Index Fund, the scheme will offer investors a choice of two indices, the Nifty and the Sensex.
Small investors fail to claim Rs 1,299-cr dues from UTI
RETAIL investors, who had invested in various Unit Trust of India (UTI) schemes, have not claimed Rs 1,299.07 crore dues from the UTI and the trust is utilising this huge unclaimed fund in the call money market and other money market instruments and reap
ing profits.
Mastershare dividend
MUMBAI: UTI has announced a dividend of 10 per cent under Mastershare 1986.
LIC MF launches new open-ended scheme
LIC MUTUAL Fund (LIC MF) today launched one more open-ended income fund -- LIC MF Children's Fund. The scheme aims to generate long-term capital appreciation through a mix of debt and equity investments. The scheme closes on October 16.
UTI ED to take voluntary retirement
MUMBAI: Mr Brij Gopal Daga, Executive Director, Unit Trust of India (UTI), has decided to take voluntary retirement from UTI. Reliable sources said that Mr Daga will retire effective December 31, 2001, one year ahead of his scheduled retirement.
PSU
BHEL unit gets ISO-9001
NEW DELHI: Bharat Heavy Electricals Ltd's (BHEL) Rudrapur unit in Uttaranchal has bagged the ISO-9001 certification from BVQI, London.
Petroleum
LPG cylinder makers `done in by oil cos'
NEW DELHI: The All India LPG Cylinders Manufacturers Association has written to the Prime Minister, Mr A.B. Vajpayee, seeking his intervention in the inequitable allocation of ``LPG cylinder manufacture'' business by the public sector oil companies to th
e private sector.
NRL pays maiden dividend to Assam Govt
GUWAHATI: Numaligarh Refinery Ltd (NRL) has paid a maiden dividend of Rs 81,73,921 to the Assam Government against its fully-paid equity shares.
Textiles
Knit fair to start on Oct 10
COIMBATORE: India Knit Fair Association (IKFA), which organises the annual knitwear exhibitions in Tirupur, is holding the 12th edition of the knit fair for autumn/winter collection between October 10 and 12 in Tirupur.
