Automobiles
Auto dealers sore over low margins
THE Federation of Automobile Dealers Associations (FADA) on Tuesday expressed unhappiness that the vehicle makers had not raised the dealer margins to help them tide over the problems they were facing in a stagnant automobile market.
Leyland to supply 500 chassis to Bangladesh
ASHOK Leyland has signed a long-term agreement for the supply of 500 truck chassis valued at over $6 million to Bangladesh. Under the agreement the chassis will be supplied in completely knocked down (CKD) form for assembly by Pragoti Industries Ltd, a B
angladesh Government undertaking under the Ministry of Industries, according to a press release.
Strike at another unit of Escorts
BARELY a week has passed since the workers strike at its farm equipment and tractor division ended and Escorts finds itself in trouble again with workers at its railway equipment division going on strike.
Corporate
`Cummins will look at options before going in for buyback'
FROM being a mere manufacturer of diesel engines with a fairly comfortable position in the market to being a complete solutions provider to the power industry and a subsidiary which exports significantly to parent Cummins Incs global operations, the road
has not always been very smooth for this Pune-based company.
Welspun Gujarat bags Rs 443-crore orders
WELSPUN Gujarat Stahl Rohren Ltd, manufacturing submerged arc-welded pipes, has bagged three international orders amounting to Rs 443 crore, from Iran and Iraq for supply of line pipes.
Changes at L&T
MUMBAI: Larsen & Toubro Ltd (L&T) on Tuesday informed that three executive directors on its board have been elevated.
Tata Steel stake in TSSL tops 90 pc
TATA Steel has said that it has acquired more than 90 per cent of the equity capital of Tata SSL Ltd (TSSL), consequent to the cash offer made by the company for acquiring the entire equity capital of the latter at a price of Rs 27 per share.
Tata Tea integration with Tetley gaining momentum
FROM being the second largest tea company in India, Tata Tea is following the road-map to become the second largest tea company in the world, when the integration with the Tetley group is completed.
Megapode mulls Hawker jet sale
MEGAPODE Airlines, the closely-held aircraft-operating outfit floated by the Taj, its associates and other Tata companies, has plans to sell one of the two business jets that it operates.
Financial Performance
Dabur H1 net up 13.3 pc at Rs 33.3 crore
DABUR India Ltd (DIL) has recorded a net profit of Rs 33.3 crore for the half year ended September 30, up 13.3 per cent over Rs 29.4 crore recorded in the corresponding period last year.
Mirc Elec net dips
MIRC Electronics Ltd has reported dip in net profit for the second quarter ended September 30, 2001 at Rs 7.62 crore compared to Rs 9.21 crore during the corresponding period last year.
Hotels
Domestic focus insulates Indian Hotels
THE leisure hotels SBU (strategic business unit) of the Taj group has not suffered a steep slide in occupancy rates post-September 11, courtesy the divisions ongoing focus on domestic clientele, Mr Jamshed S. Daboo, Chief Operating Officer (Leisure Hotel
s), Indian Hotels Company Ltd (IHCL), said at a press briefing here today.
Paper/Packaging
JK Paper eyes foreign outsourcing contract
THE Rs 610-crore turnover JK Paper Ltd is engaged in discussions with foreign paper companies to look into the option of striking an outsourcing deal for coated paper under the JK Paper brand name.
Steel
`Induction furnace steel units must innovate'
INDUCTION furnace-based steel plants should adopt innovative methods to bring down power consumption and cost of other major inputs.
Textiles
SITRA lab gets accreditation
THE textile-testing laboratory of the South India Textile Research Association (SITRA) here has received the accreditation from the National Accreditation Board for Testing and Calibration Laboratories (NABL), New Delhi.
