The Hindu Business Line : Thursday, April 04, 2002

Hind Motors' LPG rural vehicle gets auto body okay
HINDUSTAN Motors Ltd has said it has received the approval of the Automotive Research Association of India (ARAI) for an LPG-powered RTV (rural transport vehicle). The RTV is the first LPG vehicle in the country to get ARAI approval, the C.K. ... More

Indica April production scaled down
TATA Engineering's passenger car assembly plant, which manufactures the Indica, will operate to a lower production schedule in April due to ongoing preparations for launching the Tata Sedan, and thereafter, the car's Estate version. "Indica ... More

Kinetic begins exports
NEW DELHI: Kinetic Engineering Ltd on Tuesday said it had exported the first batch of the 125-cc GF motorcycles to Mexico. In a statement here, Kinetic said it had an agreement with Hyosung under which it could sell the GF range worldwide ... More

ACCOUNTING STANDARDS

DCA panel finalises report on accounting services
A DEPARTMENT of Company Affairs (DCA)-appointed committee to advise the Government on formulation of negotiating positions on accounting, auditing and book-keeping services under the General Agreement on Trade in Services (GATS) has finalised its ... More

PREFERENTIAL ALLOTMENTS

CDPQ picks up more stake in UTV
CDPQ of Canada has picked up an additional 15.8 per cent equity stake in UTV through a private placement. Following this transaction, CDPQ's holding in UTV has risen to 30 per cent. The promoter group of UTV's, lead by Mr Ronnie Screwvala, ... More

COURTS/LEGAL ISSUES

Nagarjuna Power told to file new payment security plan -- HC Bench rejects Govt appeal
A DIVISION Bench of the Karnataka High Court has rejected an appeal filed by the State Government against the order of the Single Bench judge in the Nagarjuna Power project case. The Single Bench judge had in August last year set aside the ... More

Kerala: HC order on Merchem plant closure

MERGERS & ACQUISITIONS

BHEL may keep PSU status after 16 pc stake sale
THE Ministry of Heavy Industry is in favour of retaining the public sector status for Bharat Heavy Electricals Ltd (BHEL), at least for the time being, even while efforts are on to identify joint venture partners for all the other units under the ... More

Asian Paints eyes buys; `talking to Snowcem'
ASIAN Paints Ltd is understood to be in advanced talks with Snowcem India Ltd for a possible takeover. Merchant banking sources said the deal appeared to be "as good as done". A top Asian Paints official on condition of anonymity confirmed ... More

NEW PROJECTS

DVC gets CEA nod for Mejia extension
THE Damodar Valley Corporation (DVC) has received techno-economic clearance from the Central Electricity Authority for the fourth unit of Mejia Thermal Power Station (MTPS). Sources said that the DVC board was set to formally approve the ... More

ALLIANCES & JOINT VENTURES

Sify.com in alliance with Hindustan Times
SIFY.COM, the horizontal portal from Satyam Infoway Ltd, and The Hindustan Times Ltd have formed an alliance to promote each other business interests and also to offer bundled packages to advertisers. ``This alliance would satisfy the ... More

STANDARDS & BENCHMARKS

Sterlite bags safety grading
CHENNAI: The copper smelting facility of Sterlite Industries (India) Ltd, located at Tuticorin, has obtained the five-star grading for its health and safety management from the British Safety Council. According to a Sterlite press ... More

OUTLOOK

ONGC profit may rise Rs 5,000 cr post-APM
AT the prevailing international crude price of around $25 per barrel, ONGC will earn a profit of around Rs 5,000 crore per annum over what it earned in the APM era on account of sale of crude. During fiscal 2001-02, the company earned a profit ... More

PERFORMANCE

Maruti back in black, makes Rs 55-cr profit
MARUTI Udyog Ltd, the country's largest car maker, turned around in a sluggish market to make a net profit of Rs 55 crore in 2001-02, aided by strong cost-cutting measures and financial and labour restructuring. The equal joint venture between ... More

Coal India production up 4.3 per cent
COAL India Ltd (CIL) has achieved an average production growth rate of 4.3 per cent in 2001-02. Actual output touched about 280 million tonnes (m.t) as against 268 m.t last year. Similarly, CIL's coal despatch rose by 9 m.t compared to last ... More

KMML weathers recession to post record sales
THE public sector Kerala Minerals and Metals Ltd (KMML) has registered record production and sales in the just-concluded financial year. Announcing this, the KMML Managing Director, Mr N.R. Subrahmaniam, said all the three main products - ... More

CCL output touches 20-year high
CENTRAL Coalfields Ltd (CCL) has achieved a record production of about 33.8 million tonnes (m.t.) of coal, which is said to be an all-time high for the last two decades. The production in the previous year was about 31.7 m.t. The total off-take ... More

Hyundai ends fiscal year with Rs 3,403-cr sales
HYUNDAI Motor India Ltd closed 2001-02 with a sales turnover of Rs 3,403 crore and combined sales of 93,244 units. This represents 11.95 per cent growth over the previous financial year turnover of Rs 3,040 crore and a 7.4 per cent growth over ... More

8.1 pc rise in ONGC profit
ONGC has reported a provisional net profit of Rs 5,655 crore for fiscal 2001-02, which is 8.1 per cent more than Rs 5,299 crore net profit recorded in 2000-01, according to a company release. The net profit had been worked out after making a ... More

PTC net at Rs 7.5 cr; volume traded exceeds target
POWER Trading Corporation of India Ltd (PTC) wrapped up the year 2001-02 with a net profit of about Rs 7.5 crore on a turnover of Rs 350 crore. The public sector undertaking, with a lean manpower and an equity base of Rs 24 crore, traded 1,630 ... More

Scoreboard
SE Diary

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Maruti back in black, makes Rs 55-cr profit

Asian Paints eyes buys; `talking to Snowcem'

FI-promoted banks may get to do Govt business

Rupee falls to new low, recovers

Of elephants, rabbits and GIC Fortune

GTB may resume search for strategic partner -- Retail deposits soar by Rs 1,000 cr

In Depth
Inside Kashmir

Guide to derivatives

US-64

Looking back
Mar. 24-Mar. 30
Kinetic hopes to `Boss' over with Hyosung's technology

HLL open to buyback; but not now: Banga

Rating may be mandatory for private placement

IOC to get Haldia Petro reins with 26 pc stake

Pechiney to fully own Indian joint venture -- Plans Rs 70-cr alumina complex in Orissa

TotalFina recalls top official; cites slack oil reforms -- To shift focus to LPG, chemicals, lubes