The Hindu Business Line : Thursday, August 22, 2002

`No change in stance on HPL'
INDIAN Oil Corporation (IOC) is open to suggestions regarding its participation in Haldia Petrochemicals Ltd (HPL) within the parameters already laid down by it clearly. The Chairman of IOC, Mr M.S. Ramachandran, told newspersons here on ... More

No plans to merge IBP, says IOC chief
THE Chairman of IBP Ltd, Mr M.S. Ramachandran, also the Chairman of Indian Oil Corporation (IOC), has ruled out the possibility of merging the two companies. "We have no such plans," Mr Ramachandran said while replying to shareholders' queries ... More

BUYBACK

Bombay Dyeing to consider buyback
MUMBAI: The board of Bombay Dyeing & Manufacturing Company Ltd will consider a proposal for buyback of shares. In a notification to the BSE, the company said the board, at its meeting on August 28, would consider a proposal for second ... More

GENERAL INSURANCE

Corporates may have to pay higher renewal premiums
FACED with a further hardening of reinsurance markets, domestic corporates may have to fork out higher premiums during the year on policies coming up for renewal. Sources said that the reinsurance premiums had hardened to about one per cent of ... More

MERGERS & ACQUISITIONS

Tata Tele seeks nod to buy 31 pc Hughes Tele stake
TATA Teleservices Ltd (TTSL) has moved the Foreign Investment Promotion Board (FIPB) seeking permission for acquiring 44,08,24,709 equity shares of face value of Rs 10 each of Hughes Tele.com India Ltd (HTIL) accounting for 31.37 per cent stake ... More

CORPORATE GOVERNANCE

`Tata reputation will stand the test of time'
DESPITE being in the news for all the wrong reasons, the Tata group is confident that it is just a minor aberration, which would have no impact on its brand image and its reputation as being ethical and committed to good corporate ... More

Memani calls for strong co laws
Accounting firms globally are applying themselves to finding solutions to handle certain sensitive issues relating to accounting practices and good governance aimed at tying up certain loose ends. More

NEW PROJECTS

SAIL plans sponge iron unit for captive use
STEEL Authority of India Ltd (SAIL) will be setting up a coal-based sponge iron unit for captive use at Bolani in Orissa where the company has iron ore mines. The unit will be for captive use fully and sponge iron will be used to replace pig ... More

ALLIANCES & JOINT VENTURES

IOC launches subsidiary in Sri Lanka
INDIAN Oil Corporation (IOC) has launched a wholly-owned subsidiary and floated a joint venture company in partnership with Ceylon Petroleum Corporation in Sri Lanka. Giving this information here on Wednesday, Mr M.S. Ramachandran, Chairman of ... More

SAP signs Rs 95-cr deal with ONGC
SAP AG has announced that it has signed the largest-ever deal in India with Oil and Natural Gas Corporation Ltd (ONGC) for implementation of the ICE (Information Consolidation for Efficiency) Project. The deal, worth Rs 95-crore, is aimed at ... More

EVENTS

Rockwell to host OEM meet in Hyderabad
ROCKWELL Automation India, the subsidiary of the US-based Rockwell Automation, a global provider of industrial automation solutions listed on the New York Stock Exchange, is organising a National OEM meet at Hyderabad on August 27. A Rockwell ... More

SICK UNITS

Shakti LPG turns sick — Net worth wiped out
REFLECTING the ill fortunes of private players in the Indian liquefied petroleum gas (LPG) industry, the country's largest private LPG company Shri Shakti LPG Ltd, has suffered a major setback with complete erosion of its net worth by the end of ... More

OUTLOOK

Siyaram to focus on creating new finishes
DESPITE the slowdown in the textile sector, the Mumbai-based Siyaram Silk Mills Ltd expects a 25-30 per cent growth in sales in the next six months. The company, which recently appointed the tennis star Boris Becker as the brand Ambassador for ... More

UVs are where our heart is, says M&M
In the US, SUVs account for about 50 per cent of the passenger car market and in Indonesia, it was as high as 80 per cent. The average for the rest of Asia for this vehicle segment was about 40 per cent of the passenger car market. But in India, this was only about 15 per cent. More

HM hopes to post Rs 200-cr revenue from sale of engines
HINDUSTAN Motors Ltd (HM) is hopeful of generating a revenue of between Rs 150 crore and Rs 200 crore from the manufacture of engines and transmissions for Ford India and General Motors India between 2003 and 2005. HM has already entered into ... More

PERFORMANCE

`Indo-German ventures bucked slowdown blues'
LISTED joint ventures between Indian and German companies showed a good degree of resilience during the recession, according to a maiden probe conducted by the Indo-German Chamber of Commerce. The chamber's latest findings relate to ... More

TN cos' net higher than national average
LEADING Tamil Nadu-based companies have collectively posted an increase in turnover and profit in the first quarter of the current fiscal, which is higher than the national average. While Tamil Nadu companies increased their sales and profit ... More

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Sustaining development — An opportunity in Johannesburg

Shakti LPG turns sick — Net worth wiped out

Nasscom sees pricing pressure bottoming out

Customers still to benefit: TRAI survey

Banks reject tax challans sans PAN

'Raw sugar imports to replenish stocks' — Part of cost-effective operations, says Sakthi Sugars CMD

In Depth
Gender Justice

Simple Economics

Small Investor

Looking back
Aug. 11-Aug. 17
DCA makes secretarial audit mandatory for cos

Job outlook to remain sombre, says FICCI survey

You'll soon know of colas' contents

Court affirms Bayer's patent — Setback to Dr Reddy's Cipro launch in US

Prasar Bharati to restart programme outsourcing

Idea, BPL revive merger talks

`Glaxo will not limit size of Indian operations'