Financial Daily from THE HINDU group of publications
Thursday, July 25, 2002
Markets (July 24)
BL 2501095.18 (-17.25)
BSE Sensex3107.48 (-69.45)
S&P CNX Nifty1004.05 (-17.85)
Dollar (Buy/Sell)48.63/48.76
Gold Std (10 gm)5200 (-80)

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ANNOUNCEMENTS


Botox cleared for use by spastics
BOTOX, an Allergan product targeted at neurological disorders, has been approved by the Drug Controller-General of India for treating spastics. Used along with physiotherapy and medication, Botox delays and reduces the number of surgeries ... More

BHEL bags BPCL compressor order
BHARAT Heavy Electricals Ltd (BHEL), has won yet another order from Bharat Petroleum Corporation Ltd (BPCL) for the supply of compressor and drive turbine package for its refinery modernisation project at Mumbai. The order for the compressor ... More

Tata Infotech to make Diebold ATMs
MUMBAI: Tata Infotech has announced that it has entered into a contract-manufacturing agreement with Diebold Inc to produce Diebold's automated teller machines (ATMs) in India. Tata Infotech will also distribute these machines in ... More

OUTSOURCING


HLL rejigs outsourcing strategy
OUTSOURCING or sub-contracting the manufacture of products from third parties has been an integral part of the business model for FMCG companies in India for years now. FMCG behemoth Hindustan Lever Ltd (HLL) is better known for its marketing ... More

RESTRUCTURING


Strides Arcolab to hive off contract research division
STRIDES Arcolab Ltd plans to hive off its contract research and manufacturing (CRAM) division into a separate company through a scheme of arrangement. This will enable the 12-year-old company to focus on its core activity of formulations as ... More

Indian Rayon hives off insulator business
AS part of the overall restructuring process in the Aditya Birla Group, the board of Indian Rayon and Industries Ltd (IRIL) today decided to demerge its insulator division to a joint venture company with Japan's NGK Insulators Ltd as its ... More

NEW PROJECTS


Grundfos production unit to come up in Chennai
GRUNDFOS, the world's largest manufacturer of circulator pumps with little over 50 per cent of the global market share, has decided to set up its India manufacturing centre at Chennai. Grundfos Pumps India, the wholly-owned subsidiary of the ... More

Tube Investments' Q1 net up 23%; plans facility in Noida
TUBE Investments of India Ltd has reported a net profit of Rs 8.02 crore for the first quarter ended June 30, 2002, which is 23 per cent higher than the Rs 6.53 crore the company achieved in the corresponding quarter of the previous year. The ... More

ALLIANCES & JOINT VENTURES


Edumark ties up with Macmillan
EDUMARK, a division of the city-based Realmark services has tied up with Macmillan India to promote online executive development programmes from the Indian Institute of Management (IIM), Kolkata. EMacmillan, the business division of Macmillan ... More

SICK UNITS


FIs/banks may be asked to alert tribunal on sick companies
The committee's recommendation comes on the back of the notion that FIs/banks are always in a better position to detect sickness. DCA conceded that some provisions could be introduced to detect signs of potential/approaching sickness. More

OUTLOOK


Tata Engg gearing up for Indica sedan launch
TATA Engineering which launched the country's first indegenously developed car in 1998, reached another milestone with the first two pre-production units of the Indica sedan rolling out of its manufacturing plant at Pimpri on Friday. This ... More

Ratan Tata calls for `process breakthrough'
A BREAKTHROUGH in steel making processes or a second line of business with a higher rate of return is essential to propel Tata Steel forward, the company's Chairman, Mr Ratan Tata, said today. "The challenge facing the steel industry is to ... More

Bharti seeks to raise Rs 1,200 cr for projects
BHARTI Tele-Ventures Ltd seeks to raise Rs 1,200 crore over the next couple of years to fund its on-going rollout of cellular, basic and long distance telecom services across the country. According to Mr Sunil Mittal, Chairman and Managing ... More


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