The Hindu Business Line : Thursday, August 29, 2002

Bajaj gearing up for `rural bike' launch
TWO-WHEELER manufacturer Bajaj Auto Ltd has developed a bike that will meet the utility and aspirational needs of the youth in semi-urban and rural India and be easy on their pockets too. The 100 cc bike, which is being test-marketed in ... More

PSL executes Indian Oil order

BUYBACK

Godrej Ind buyback on schedule
GODREJ Industries Ltd said its share buyback scheme will proceed as scheduled following the Supreme Court's decision not to grant any interim relief on an appeal filed by the Securities and Exchange Board of India (SEBI). The Supreme Court ... More

TAXATION

TCS can enjoy export tax benefit after demerger too
The tax benefit enjoyed by TCS, a division of Tata Sons, will not be withdrawn even after its demerger into a separate company, provided Tata Sons holds at least 51 per cent of the equity in the new corporate entity. More

CORPORATE BONDS

Escorts NCDs downgraded
THE rating agency Crisil has downgraded Escorts Ltd's Rs 150-crore non-convertible debenture (NCD) issue to `A-' from `A'. Similarly, the company's Rs 20.46-crore non-convertible debenture issue has also been marked down to `A-' from `A'. The ... More

MERGERS & ACQUISITIONS

ONGC keen on HPCL, BPCL stake: Raha
OIL and Natural Gas Corporation (ONGC) is interested in bidding for Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL), according to ONGC Chairman and Managing Director, Mr Subir Raha. However, while the ... More

NEW PROJECTS

Tyco Electronics to set up assembly unit for switches
TYCO Electronics Corporation India Pvt Ltd's networking division is planning to set up a assembly unit for switches at its optical fibre facility in Bangalore. The company would primarily focus on assembling the 8,16 and 24 port switches and ... More

Metro to invest Rs 20 cr to make 2-wheeler tyres
METRO Tyres Ltd (MTL) has announced that it will invest about Rs 20 crore at its new Ludhiana plant for setting up a manufacturing line for two-wheeler tyres catering to motorbike, scooter and mopeds. This plant was imported last year from ... More

Usha Beltron loan: DEG readies due diligence
"Once we get the DEG loan, our proposed project will achieve financial closure and implementation will begin." More

REGULATORY BODIES & RULINGS

BIFR withholds `sick' tag for Usha Ispat — Co asked to answer creditors' charge
The secured creditors also stated that the progress of the project was not abandoned because of recalling of the funds by the financial institutions in 2001. More

TRADE & LABOUR UNIONS

Birla Jute Mills to reopen today
BIRLA Jute Mills of Birla Corporation Ltd is reopening tomorrow following an agreement reached at the office of the Additional Labour Commissioner, West Bengal, here today, according to an official release by the company. The highlight of the ... More

ALLIANCES & JOINT VENTURES

Sakthi Sugars unit in tie-up to supply vegoil to TN hotel body — Mulls crude palmolein import
THE soyas division of Sakthi Sugars Ltd has tied-up with the Tamil Nadu Hotel Association for supply of Sakthi Refined vegetable oil to the hospitality sector. Having struck the deal, the company is contemplating to import crude palmolein for ... More

KSTDC, ITDC ink marketing pact
THE Karnataka State Tourism Development Corporation (KSTDC) today entered into a memorandum of understanding with the Ashok Reservation and Marketing Services (ARMS) and Ashok Travel and Tours (ATT), a subsidiary of the India Tourism Development ... More

Tata Infotech ties up with Mumbai varsity
TATA Infotech has tied up with the University of Mumbai to offer a series of career-oriented courses in the field of information technology that will be focused on emerging market trends in the industry. Tata Infotech Education Services ... More

Pramati Tech in marketing pact with Epicentric
PRAMATI Technologies (P) Ltd, a Hyderabad-based company which has developed Java 2 Enterprise Edition (J2EE) application technology, has entered into a strategic technology and marketing tie-up with Epicentric Inc, a leading provider of business ... More

McAfee ties up with SecureSynergy
BANGALORE: McAfee Security, a division of Network Associates, on Wednesday announced a strategic alliance with SecureSynergy, to offer managed anti-virus services, McAfee ASaP Managed Service, for its end-users across India. ... More

STANDARDS & BENCHMARKS

Tata Steel embarks on Six Sigma
TATA Steel said it has initiated the Six Sigma Black Belt system, a methodology that focuses on moving every process, product and service towards near perfect quality. According to Tata Steel, this methodology will help the company reduce ... More

SICK UNITS

Sub-panel to discuss Trayons revival
KOCHI: The Cabinet Sub-Committee constituted recently by the State Government on revival of Travacore Rayons Ltd (Trayons), is expected to discuss meticulously all the demands made by the Coimbatore-based promoter, a senior official ... More

OUTLOOK

Congruent eyes 100 pc growth
THE city-based Congruent Solutions Pvt Ltd hopes to double its manpower to about 100 by the year ending March 31, 2003. The company also anticipates about 100 per cent growth in revenue from $1 million reported last fiscal year, the company's ... More

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