Financial Daily from THE HINDU group of publications
Wednesday, May 29, 2002
Markets (May 28)
BL 2501090.75 (-24.71)
BSE Sensex3146.83 (-96.58)
S&P CNX Nifty1038.20 (-24.55)
Dollar (Buy/Sell)48.94/49.07
Gold Std (10 gm)5330

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MODERNISATION


Tata Steel spends Rs 200 cr on furnace upgrade
TATA Steel has rebuilt and upgraded its 43-year-old blast furnace in a shutdown time of 105 days and at a cost of around Rs 200 crore. The furnace was blown in on May 22. With this upgradation, Tata Steel, which is already the lowest cost ... More

ANNOUNCEMENTS


VSNL to invest Rs 1,200 cr in Tata Teleservices
THE board of Videsh Sanchar Nigam Ltd has decided to invest up to Rs 1,200 crore in the share capital of Tata Teleservices Ltd, the basic telephony services company in the Tata fold. "The strategic investment will be in tune with the company's ... More

Diesel version of Fiat models by next year
FIAT is planning to roll out diesel model of its cars in India by 2003 and is making efforts to source components for diesel engines locally, according to Mr M.P. Bianchi, Chairman and Managing Director, Fiat India Pvt Ltd. ``Looking to the ... More

MERGERS & ACQUISITIONS


Sardas to continue buying into BSL -- Talks on for open offer
THE city-based jute group, the Sardas, will continue to buy into BSL Ltd even after increasing its stake to a little over 12 per cent. The group is currently talking to merchant bankers to make an open offer soon. The Sardas group, which owns ... More

NEW PROJECTS


Vertebrand sets up shop in Chennai, Hyderabad
THE Bangalore-based Vertebrand Management Consulting, a brand management consultancy, is expanding its operations to Chennai and Hyderabad. Started in 1999, the company received initial funding from Mr R.Vasu, an entrepreneur who made his ... More

Carlson group plans 13 Radissons in India -- Signs up for a new hotel in Noida
THE US hospitality major, Carlson Hotels Worldwide, is to open 13 Radisson hotels and five Country Inn and Suites in India, the group's Senior Vice-President, International Development, Mr James W. Olson, said here on Tuesday. "There are 13 ... More

REGULATORY BODIES & RULINGS


CII not in favour of recordings
EVEN as the Government is to take a final view on allowing companies to hold board meetings through video/tele conferences, the Confederation of Indian Industry (CII) has opposed any moves that would stipulate the video/tape recording of the ... More

ALLIANCES & JOINT VENTURES


Keltron ties up with CMC
THE public sector Kerala State Electronics Development Corporation (Keltron) has signed a memorandum of understanding with CMC Ltd for implementing advanced IT solutions for power systems. This involves energy management and demand side ... More

INTERVIEW


CPCL looks to rein in costs with optimum crude buys
THE refinery industry is going through a tough time, what with the margins ever shrinking. Chennai Petroleum Corporation Ltd (CPCL), the biggest company in South India with a turnover of Rs 6,273 crore last year, is challenged by the reality of ... More

OUTLOOK


LG revises colour TV sales target upwards
BULLISH about growth in the colour television (CTV) segment, LG is targeting its consumer electronics division to grow from Rs 757 crore last year to about Rs 1,300 -1,400 crore this year, accounting for approximately 50 per cent of its total ... More

BaaN shifts focus to solutions
FOLLOWING the ongoing restructure process, BaaN Infosystems, which has become part of Invensys plc, has gradually shifted focus from a predominantly products company to an end-to-end solutions provider concentrating on services space. This ... More

GE India sees 10-12 pc revenue growth
GE India expects its revenues to grow by about 10-12 per cent in the current year, according to the President and CEO, Mr Scott Bayman. The company's revenues and orders exceeding $1 billion stayed flat in 2001 over 2000, he said. Talking to ... More

Daksh sees big jump in revenue; to invest more
DAKSH eServices Pvt Ltd, which offers Web-based customer care services to global clients, has said it expects to nearly double its revenue in the current fiscal to $30-35 million on the back of clients acquisitions and more business from existing ... More


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