The Hindu Business Line : Wednesday, July 24, 2002

Maruti slashes prices of 800 cc models
EVEN as Tata Engineering gave indications of increasing prices of its Indica due to higher input costs, the leading automobile manufacturer, Maruti Udyog Ltd, on Tuesday announced its decision to slash prices for its entry-level car, the Maruti ... More

Tata Engg's Indica to sport a higher price tag `soon'
Speaking to the media here, Mr Rajiv Dube, Vice- President - Commercial, Tata Engineering, said that the price hike was because of the build-up of cost pressures and the company could no longer negate the impact of the rising level of input ... More

Honda Motorcycle's Dio set for September debut
HONDA Motorcycle and Scooter India is gearing up to launch its second offering for the Indian market, a `motoscooter' Dio in September. The southern launch will be sparked off on September 10, followed by the western zone launch on September ... More

Laws complied with on ALBM, says Reliance
RELIANCE Industries Ltd today said that all its automatic lending and borrowing mechanism (ALBM) transactions have been conducted in full compliance of all applicable laws, rules and regulations and that the Joint Parliamentary Committee has not ... More

Hero Honda to seek shareholders' nod to hike FII limit
HERO Honda Motors Ltd will seek shareholders' approval at its forthcoming annual general meeting on August 12 for increasing the investment limit of foreign institutional investors (FII)/non-resident Indians (NRIs) and overseas corporate bodies ... More

Sierra Optima is now arm of US co, changes name
SIERRA Optima Ltd has announced that it has become a wholly-owned subsidiary of the US-based Sierra Atlantic. The company has been renamed Sierra Atlantic Software Services Ltd. The Managing Director of Sierra Atlantic Software Services Ltd, Mr ... More

New-look Qualis to hit the road in September
AUTO major Toyota Kirloskar Motors (TKM) is gearing up to set off some fresh action in the multi-utility vehicle segment and plans to roll out an all-new version of Qualis in September. Top company sources said the highlight of the new ... More

Essar clarifies on RS discussion
NEW DELHI: The Essar group has clarified that it has always complied with the relevant laws, regulations and rule of the land. Reacting to today's discussion in the Rajya Sabha about the group, the company, in a release, said that all ... More

Wipro licence for Emuzed
BANGALORE: Wipro Technologies, has announced that it had licensed its IEEE 1394a OHCI 1.1 Core to Emuzed Inc, a leading provider of multimedia products for the PC and embedded markets. This is expected to enable Emuzed to increase ... More

ACCOUNTING STANDARDS

Corporate malfeasance cowers markets
CLEARLY, it is a crisis of confidence. Mr Alan Greenspan, the Chairman of the US Federal Reserve, said as much in his testimony to the US Senate and Congress last week. Mr Greenspan's theme was simple: the economy is on track but business and ... More

CORPORATE BONDS

Signals from the Oracle
When the Oracle of Omaha decides to favour technology, in however small a dose, something must surely be brewing. More

RESTRUCTURING

M&M completes Sintered sell-off
MAHINDRA & Mahindra Ltd (M&M) has completed the divestment of its 51 per cent equity stake in Mahindra Sintered Products Ltd to its joint venture partner, GKN Sinter Metals Holdings Ltd, an official statement said. According to it, the ... More

Pentamedia to hive off Num TV
PENTAMEDIA Graphics has decided to hive off Num TV and the CD-Rom plant into100 per cent subsidiaries. With all the investments going into separate companies, the focus will be to produce/co-produce 4 to 6 animation films and distribute them ... More

MERGERS & ACQUISITIONS

ONGC board meet tomorrow to decide on MRPL stake
OIL and Natural Gas Corporation has convened a special board meeting on July 25 to discuss a proposal to take a controlling stake in Mangalore Refineries and Petrochemicals Ltd (MRPL). The acquisition price being considered is close to Rs 2 per ... More

GAIL board okays 10 pc stake in Haldia Petro
THE board of Gas Authority of India Ltd (GAIL) today approved a proposal to take a 10 per cent equity stake in Haldia Petrochemicals Ltd. The approval is contingent on the financial restructuring taking place. The investment will be of the order ... More

Sun F&C buys out JF Mutuals' two schemes
SUN F&C Mutual Fund today acquired two schemes of JF Mutual Fund — the JF India Bond Fund and JF Personal Tax Saver — which currently manage a corpus of over Rs 150 crore. Mr Nikhil N. Khattau, Chief Executive Officer, Sun F&C ... More

Ranbaxy arm buys production unit from US company
IN yet another buy-out, Ranbaxy Laboratories has acquired a liquid manufacturing facility from the New York-based Signature Pharmaceuticals Inc on an asset purchase basis through its wholly-owned subsidiary, Ranbaxy Pharmaceuticals Inc, US. In ... More

SICK UNITS

BIFR seeks Bengal's view on bank guarantee to Jessop
THE Board for Industrial and Financial Reconstruction (BIFR) has given 10-days' time to the West Bengal Government for submitting its views on the demand for a bank guarantee from Ruia Cotex, the proposed strategic partner, before taking a final ... More

OUTLOOK

Rain God willing... Madras Fertilizers hopes to make a modest profit
RAIN God willing, Madras Fertilizers Ltd (MFL) may end this financial year with a modest profit and consolidate its position. With the Government recently approving the financial restructure, the company has continued to retain its positive ... More

PERFORMANCE

Q1 performance points to recovery
THE profit of 252 companies which have announced their first quarter 2002-03 results shows a rise of 18.2 per cent on a cumulative basis. However, growth in total income has only been modest at less than 5 per cent. The growth in operating ... More

`Post-privatisation, Adilabad spinning mill turns the corner'
FOLLOWING the privatisation process of the closed Adilabad spinning mill in Andhra Pradesh, the new management — Sri Asthalakshmi Spinning Mills has revived the unit and helped it turn the corner. According to the Managing Partner of the ... More

PEOPLE

I-Sec chief puts in his papers
MR Devdatt Shah, Managing Director and Chief Executive Officer of ICICI Securities and Finance Company Ltd, will be stepping down from his post due to personal reasons. According to an official press release, Ms Ramni Nirula, Senior General ... More

Adhiraj Sarin to take over as TI's Managing Director
MR Adhiraj Sarin will assume office as the Managing Director of the Rs 1,075-crore Tube Investments of India Ltd on August 1. Mr Sarin, 50, will replace Mr V.A. Raghu, who retires this month, it is reliably learnt. Mr Sarin, a B.Tech from ... More

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Tata Engg's Indica to sport a higher price tag `soon'

UTI Bank told to probe failed merger with GTB

Basmati exports to EU face roadblocks

JPC favours more teeth to SEBI — Pulls up watchdog for poor track record

UCO Bank finalising wilful defaulters list

New Railway zones — Setback to reforms and efficiency

In Depth
Gender Justice

Simple Economics

Guide to derivatives

Looking back
Jul. 14-Jul. 20
SAIL posts higher turnover in Q1

The internal auditor shall inherit the earth

Lafarge to build Rs 150-cr Bengal plant in two years

Novartis sues Dr Reddy's in US for patent breach