The Hindu Business Line : Wednesday, January 09, 2002

Tata Finance to shut down non-core unit
TATA Finance Ltd (TFL) on Tuesday said that it is shutting down one of its non-core divisions. ``As part of the ongoing restructuring, one of the divisions of Tata Finance, employing about 40 out of 940 employees, is proposed to be shut down. ... More

MERGERS & ACQUISITIONS

KPC offers Rs 3.60 for Birla stake in MRPL
KUWAIT Petroleum Corporation (KPC) has offered a price of close to Rs 3.60 per share for the AV Birla group's 37.5 per cent stake in Mangalore Refineries and Petrochemicals Ltd (MRPL), according to sources familiar with the talks. This is a ... More

ALLIANCES & JOINT VENTURES

ITDC signs MoU with Rajasthan Tourism
THE India Tourism Development Corporation (ITDC) and the Rajasthan Tourism Development Corporation (RTDC) have signed a memorandum of understanding (MoU) for promoting tourism and hotel management related services. The MoU offers ITDC's ... More

Mukesh Ambani meets Ram Naik on IOC-RPL pact
THE Reliance Industries Ltd (RIL) Vice-Chairman, Mr Mukesh Ambani, on Tuesday met the Union Petroleum Minister, Mr Ram Naik, and appraised him of the issues relating to the marketing agreement between Indian Oil Corporation (IOC) and Reliance ... More

EVENTS

Call to boost trade ties with Israel
INDIA and Israel should forge strategic alliances and access new markets together, said Mr Israel Shotland, Director General, Israel Export Institute, here on Tuesday. Participating in a session on `IT: Cooperating beyond Boundaries, Strategies ... More

Convert poverty into prosperity: Prahalad
CLAPS and candies marked a lecture of Prof C.K. Prahalad on `Managing in turbulent times', as the management guru distributed sweets to his audience in a bid to demonstrate that profitable markets could be developed out of the vast Indian ... More

OUTLOOK

HBO firm on scripting success with superhits
HBO, the English language movie channel, will continue to focus on blockbusters to retain its popularity among movie audiences, according to Ms Shruti Bajpai, Director (Marketing). Into its second year of operations, HBO's strategy would ... More

PERFORMANCE

MF investments boost Hero Honda's profit
THE country's largest motorcycle maker Hero Honda Motors Ltd managed to boost its profit in the October-December 2001 quarter due to its investments made in mutual fund schemes, a top company official said on Tuesday. Flush with funds from ... More

Wipro GE exports from Bangalore cross Rs 100 crore
WIPRO GE Medical Systems has crossed the Rs 100-crore mark through the export of its critical care medical products from its facility in Bangalore. Wipro GE manufactures non-invasive cardiology (NIC) and foetal monitoring equipment for the ... More

JVSL records 93% growth in hot metal output
JINDAL Vijaynagar Steel Ltd (JVSL) has achieved a ``record'' growth of 93 per cent in hot metal with a production of 1.12 million tonnes and 75 per cent in liquid steel with a production of 1.07 million tonnes in the April-December 2001 period. ... More

ANNOUNCEMENTS

DaimlerBenz M Class launch this year
DAIMLERCHRYSLER India on Tuesday announced it would launch its M Class four-wheel drive and sport segment offerings — the SLK and CLK — in the country in the first half of 2002. The company is also all set to relaunch its van with a ... More

Maithon to float SPV for captive coal mining
MAITHON Power Ltd (MPL), the joint venture between Damodar Valley Corporation (DVC) and the Mumbai-based BSES Ltd, is planning to float a special purpose vehicle (SPV) for ensuring coal supplies to the 1,000-MW thermal power plant that MPL is ... More

Ranbaxy arm gets US FDA nod for hypertension drug
RANBAXY Phamaceuticals Inc (RPI) has received tentative US FDA approval to market the combination drug — lisinopril+hydrochlorothiazide tablet — in strengths of 10/12.5 mg, 20/12.5 mg and 20/25 mg. This comes close on the heels of ... More

Reliance Life looking at US, European markets
RELIANCE Life Sciences is looking at a range of clinical applications of cutting edge technology in cellular biology to develop novel therapeutic processes to tackle diseases for which a solution is yet to be developed in the conventional medical ... More

TCS to sign Rs 180-cr deal with GE Medical
TATA Consultancy Services (TCS) is understood to be in talks with a General Electric (GE) group company, GE Medical Systems, for a large medical solutions contract. According to sources familiar with the development, TCS is close to signing a ... More

Hughes works out $ 400-m funding plan
HUGHES Network Systems (HNS) has worked out a $ 400 million financing plan with FIs and banks to ramp up its existing basic service operations and make some very significant new investments in the coming months. Announcing this at a press ... More

Aptech sets date for share entitlement
APTECH Ltd and Aptech Training Ltd today announced that they have set February 8 as the record date for determining entitlements of shareholders of Aptech Ltd to equity shares to be issued and allotted by Aptech Training Ltd. Aptech had on ... More

OPEN OFFERS

HLL makes 2nd open offer for Rossell stake
HINDUSTAN Lever Ltd (HLL) has made another open offer through Lipton India Exports Ltd to acquire the remaining 4.11 per cent stake in Rossell Industries comprising 4.16 lakh equity shares at a price of Rs 120 per share. This is the second open ... More

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In Depth
Inside Kashmir

Guide to derivatives

US-64

Looking back
Dec. 30-Jan. 5
LIC arm to buy GLFL Housing Fin portfolio

TCS gets Rs 200-cr order from United Utilities

Bharti to join the cellular brandwagon in Mumbai