Financial Daily from THE HINDU group of publications
Wednesday, October 02, 2002
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LPG, kerosene subsidy costs IOC Rs 350 cr per month
INDIAN Oil Corporation (IOC) is losing around Rs 350 crore every month on sale of LPG and kerosene through the public distribution system due to non-revision of product prices in the wake of high global crude prices, according to the IOC Chairman ... More

Reliance cuts polymer prices
Polyethylene and polypropylene prices are down Rs 2 per kg at Rs 37.70 per kg and Rs 42.35 per kg, respectively while polyvinyl chloride is down Rs 3 per kg at Rs 37.60 per kg. Fibre intermediate products purified terephthalic acid will cost Rs ... More

Tamilnadu Petro gets nod for captive unit
TAMILNADU Petroproducts Ltd has received the much-awaited approval from the Tamil Nadu Electricity Board (TNEB) for commencing operations of its 18.6 MW captive power unit. The formal letter was received on Monday. "The unit will bring about a ... More

Pace CFS scouts for partners
PACE CFS Pvt Ltd, a Kerala-based inland container depot, is on the lookout for joint venture partners — individuals or groups — to set up container freight stations in the southern part of the country to handle export and import ... More

  • Toyota sells over 2,900 New Qualis

    CORPORATE DISPUTES


    VSNL takes row with BSNL to regulator
    VIDESH Sanchar Nigam Ltd (VSNL) has finally approached the Telecom Regulatory Authority of India (TRAI) to intervene in its interconnection spat with Bharat Sanchar Nigam Ltd (BSNL). According to highly-placed VSNL officials, the company has ... More

    COURTS/LEGAL ISSUES


    HC directive to RuiaCotex on Jessop offer
    MR Justice Kalyan Jyoti Sengupta of Calcutta High Court has directed the counsel of Ruia Cotex Ltd (RCL) to produce documents in support of the statement that the offer of RCL is valid till October 13. The staff association of Jessop & Co Ltd ... More

    ENVIRONMENT


    IICT process to help drugmakers
    IN an interesting laboratory-industry collaboration, the Indian Institute of Chemical Technology (IICT) has demonstrated an eco-friendly process that can break down the pollution causing methyl mercaptan, a by-product in the commercial production ... More

    CORPORATE BONDS


    IOC in talks with banks to monetise bonds
    INDIAN Oil Corporation (IOC) is closing on a deal to monetise oil bonds worth Rs 5,276 crore, according to the IOC Chairman and Managing Director, Mr M.S. Ramachandran. IOC hopes to realise Rs 5,000 crore from the bonds and this receipt would be ... More

    MERGERS & ACQUISITIONS


    IOC not keen on stake in Haldia
    ``We learn that they (HPL promoters) do not want to give management control to one company. They want a professional board to manage the company,'' according to the IOC Chairman and Managing Director, Mr M.S. Ramachandran. More

    CORPORATE GOVERNANCE


    Corporate governance, bond ratings — SEBI keen to ensure convergence
    THE Securities and Exchange Board of India (SEBI) would like to ensure that the rating assigned to a bond issue by a company converges with its corporate governance (CG) rating over the long term. In the short run, there could still be a ... More

    NEW PROJECTS


    Suzuki seeks FIPB nod to set up aluminium foundry
    SUZUKI Motor Corporation, the Japanese automobile major, is planning to set up an aluminium foundry in India. The company had filed an application with the Foreign Investment Promotion Board (FIPB) last Friday seeking permission to ... More

    REGULATORY BODIES & RULINGS


    DCA discusses rules for issuance of IDRs
    THE Department of Company Affairs (DCA) is considering a proposal on whether to permit issuance of the proposed Indian Depository Receipts (IDRs) only by companies which are listed overseas. According to the proposed rules for IDRs, the ... More

    TRADE & LABOUR UNIONS


    Nocil application sent to Labour Commissioner
    THE closure of the petrochemicals division of National Organic Chemical Industries Ltd has been delayed after the Mumbai High Court remanded the closure application to the labour commissioner on appeal from the company's union. Over 500-odd ... More

    INTERVIEW


    `Our philosophy is not to rely too much on debt'
    AMARA Raja Batteries Ltd prides itself on the strength of its under-geared balance sheet. Last year, the company turned in a record sales of Rs 188 crore; assets expanded by Rs 45-crore but with practically no debt, and only a marginal increase ... More

    SICK UNITS


    Dunlop Ambattur unit to resume
    THE decks have been cleared for the Dunlop factory at Ambattur, near here, to be reopened following an agreement signed between the management and the workers' union. The agreement between Dunlop India Ltd and the Dunlop Factory Employees Union ... More

    PERFORMANCE


    Honda Siel sales up 26 pc in April-Sept
    HONDA Siel Cars India Ltd today said sale of its City and Accord models rose 26.36 per cent during April-September this year to touch 6,318 units. Sales in September stood at 1,354 units, up 18 per cent, over the same month last year, the company ... More

    TVS Motor sales up 44 pc in Apr-Sept
    NEW DELHI: TVS Motor Company said today its two-wheeler sales rose to 1.03 lakh units during September 2002 due to strong demand of its 110cc motorcycle `Victor'. Sales during April-September 2002 jumped 44 per cent to 5.57 lakh units ... More

    Bajaj Auto bike sales up 31 pc in September
    BAJAJ Auto Ltd (BAL) has registered a 30.5 per cent growth in sale of motorcycles to 69,359 units for September 2002, as against the year-ago period. According to an official statement on Tuesday, the company's total sales of two-wheelers for ... More

    Hero Honda sales up 30.22 pc in Apr-Sept.
    NEW DELHI: Two wheeler major, Hero Honda Motors Ltd, has registered a 30.22 per cent growth in its sales (in unit terms) during the first half of the current fiscal, selling 8.29 lakh motorcycles as against 6.37 lakh units in the ... More


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