The Hindu Business Line : Tuesday, September 24, 2002

GM launches limited edition Opel Astra Club
GENERAL Motors India has launched a limited edition model based on the top-of-the-line `Opel Astra Club'. The new special edition is available on a first-come-first-served basis. The model is equipped with features such as a remote-controlled DVD ... More

Thunderbird makes Chennai debut
According to a company press release, the bike features a five-speed gearbox with heel-and-toe operation.

J.K. Ind forfeits shares

CORPORATE DISPUTES

Cimmco Birla shuts unit as Concor encashes guarantee — Arbitration proceedings invoked
THE encashment of major bank guarantees worth around Rs 39 crore followed by cancellation of orders of around Rs 144 crore by Container Corporation of India Ltd (Concor) has distorted the financial performance of Cimmco Birla, one of the leading ... More

Dr Reddy's wins case over `Omez'
DR Reddy's Laboratories (DRL) has survived yet another onslaught on one of its leading anti-ulcerant drugs, Omez. In an infringement case filed by the Hyderabad-based company against Sun Generics, the Delhi High Court has granted an ex-parte ... More

ENVIRONMENT

Waste management lab with Aussie knowhow
AN industrial waste management laboratory, part of the Indo-Australian collaborative `green' project at Khazipally industrial area on the outskirts of Hyderabad was inaugurated on Monday by the Australian High Commissioner, Ms Penny ... More

TAXATION

Govt plans to review taxing of dividends
THE existing policy on taxation of dividends is in for a review. The Finance Ministry has finally set the ball rolling by initiating an exercise of examining the pros and cons of taxing dividends at the hands of shareholders. "The Central Board ... More

HUMAN RESOURCES

Creating `bullet-proof' managers for corporate world
A DECADE ago, when she lost her husband, her only child, a daughter, was barely 18 months old. "We had been married for five years and he died of a brain haemorrhage which was very sudden. I was totally unprepared and did not know what to do," ... More

RESTRUCTURING

ICI to sell catalysts business to Johnson Matthey for Rs 140 cr
ICI India has announced the decision to divest its catalysts business to Johnson Matthey Plc. The total consideration it would get for this business is about Rs 140 crore. The catalysts business, which was started in 1984, accounted for net sales ... More

Deepak Nitrite to consolidate two divisions
DEEPAK Nitrite Ltd (DNL) has decided to consolidate two of the existing divisions of the company - nitrite and nitroaromatic divisions, adjacent to each other in Nandesari in Baroda. A company official said that the purpose of this ... More

Gillette to divest non-alkaline biz
GILLETTE India has announced that it is divesting from its non-alkaline business, a press release stated. The board of directors at their September 10 meeting had considered the interim findings of PricewaterhouseCoopers to review its Geep ... More

MERGERS & ACQUISITIONS

ONGC to pick up part of HPCL stake in MRPL
OIL and Natural Gas Corporation Ltd plans to buy part of Hindustan Petroleum Corporation's 37.5 per cent stake in Mangalore Refinery and Petrochemicals Ltd for Rs 2 per share. Mr Subir Raha, Chairman and Managing Director, ONGC, told ... More

Hinduja TMT to take Cable Video
HINDUJA TMT Ltd's media holding subsidiary InNetwork Entertainment Ltd will acquire 49 per cent stake in Cable Video India Ltd (CVIL) from Asia Vision Entertainment Private Ltd and its associates. Hinduja TMT Ltd (HTMT) and InNetwork ... More

NEW PROJECTS

Rs 10-cr outlay for new Kinley plant
TWO of Coca-Cola India's (CCI) key bottling partners, namely the Gandharis and Goenkas, are investing Rs 10 crore for a new bottling water plant in Punjab for CCI's packaged water brand, Kinley. The development is especially significant given ... More

ALLIANCES & JOINT VENTURES

Siemens Mobile to sell Softex products
THE Technopark-based Softex Computer Consultants has entered into a long-term agreement with Siemens Pvt Ltd Information and Communication Mobile, Germany, to globally market software products developed by it for general packet radio service ... More

INTERVIEW

Indian steel sector has seen the worst — Dr S.K. Gupta, Executive Vice-Chairman of Jindal Vijaynagar Steel Ltd
"Overall, the operational performance of steel plants and quality competitiveness have improved significantly. The new generation producers have helped to not only increase exports but also reduce imports with their higher qualities." More

OUTLOOK

TAFE's Engg Plastics eyes higher turnover
THE Engineering Plastics Division of Tractors and Farm Equipment Ltd (TAFE-EPD) hopes to end this year with a turnover of about Rs 85 crore, up from the Rs 60 crore it achieved last year. The increased turnover will be made possible by the ... More

MphasiS eyeing acquisition in software services sector
MPHASIS BFL Ltd, the Bangalore-based technology company with operations in software services as well as the call centre space, is on the `lookout' for acquisitions in the software sector. Speaking to Business Line, the company's Chief ... More

BHEL to rev up meter making

PERFORMANCE

Jubilant revenues up 11 pc in first 5 months
JUBILANT Organosys Ltd (JOL), formerly Vam Organic Chemicals Ltd, has recorded an 11-per cent increase in revenues during the first five months of the current fiscal to Rs 273.7 crore, according to Mr S.S. Bhartia, Chairman and Managing Director, ... More

Slowdown in sales — SAIL plants advancing capital repair schedules
WITH the market slowing down somewhat, some of the major integrated steel plants under Steel Authority of India Ltd (SAIL) are advancing capital repair schedules to slow down production and prevent a build-up of inventories. According to ... More

Indica sales top two-lakh mark
TATA Engineering has said that as of September 22, sales of the Indica have crossed the 200,000 unit-mark, including exports. This is within 43 months of commencing sales of the car. "While the first 100,000-sale mark was achieved in March 2001 ... More

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