Financial Daily from THE HINDU group of publications
Thursday, October 10, 2002
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Indigenous LPG kit for small cars launched
THE Delhi-based Yash Propane Auto Energy Pvt Ltd has launched indigenously developed LPG kits for passenger cars with engine capacity ranging between 600 cc and 1,000 cc. According to the company, it has obtained all the necessary clearances ... More

New Holland launches new series of tractors
NEW Holland Tractors (India) Pvt Ltd has launched its new Ford international series of tractors, with plans to phase out the existing tractors in the 35-70 HP range. This series would be upgraded versions of the existing range of tractors, Mr ... More

6-day week again at MICO plant
AUTO components maker Mico Ltd said today that it resumed a 6-day week working schedule from October 7, as its customers have reduced call-offs. The company had introduced a five-day working week at its Bangalore plant on September 9. The ... More

  • BPCL dividend

    OPEN OFFERS


    Kodak UK's open offer closes today
    KODAK UK's open offer to acquire the public shareholding of Kodak India at Rs 350 a share will close on October 10. Kodak UK had made a public offer to the shareholders to acquire 2.8 million shares aggregating 25.24 per cent of the paid-up ... More

    TAXATION


    Tax assn wants Govt to defer new depreciation rates
    THE Direct Taxes Professionals' Association (DTPA) has suggested that the reduced depreciation rates, notified on September 27, should be made applicable for the next assessment year, that is, 2004-05, as industry may not be able to absorb the ... More

    MANPOWER


    Pharmacia clears VRS for Abbott head office staff
    THE board of directors of Pharmacia Healthcare on Wednesday approved a voluntary retirement scheme (VRS) for the employees at the head office of Abbott India Ltd in which it holds majority stake. Early this year, Pharmacia Corporation had ... More

    RESTRUCTURING


    Indo Rama's spun yarn business to be demerged — Lenders approve restructuring scheme
    THE spun yarn business of the Rs 1,900-crore Indo Rama Synthetics (IRSL) is to be segregated into Indo Rama Textiles Ltd (IRTL), according to Mr Shailendra Tandon, President and Chief Financial Officer, IRSL. IRTL was till recently Indo Rama ... More

    Elque Polyesters' promoters keen to shed entire stake
    EVEN as fresh schemes for restructuring the loans from FIs and banks by Elque Polyesters Ltd (EPL) are in an advanced stage of preparation, the principal promoters of the company - Abijit Sen and associates - are believed to be in a mood to ... More

    Alstom Power to restructure business — Focus on smaller projects
    ALSTOM Power India Ltd (APIL) is restructuring its business units. Of the three APIL divisions, the Vadodara unit will now focus on producing equipment and components for small industrial power projects, while the Kolkata and Delhi units will ... More

    MERGERS & ACQUISITIONS


    Berger to buy Snowcem paints business — Due diligence process to be taken up soon
    BERGER Paints India Ltd has entered into an agreement with Snowcem India Ltd for formally beginning an acquisition process of the latter's interior and exterior paints business. Confirming this to Business Line here today, Mr S.K. ... More

    Stronger strokes in decorative paints
    THE acquisition of the paints business of Snowcem India by Berger Paints would provide the latter with a stronger presence in the decorative paints segment. The paint industry has been growing at 7-8 per cent per annum. Within the industry, ... More

    Citibank Overseas buys 10 pc more of e-Serve
    CITIBANK group company, Citibank Overseas Investment Corporation (COIC), has increased its stake in the business process outsourcing (BPO) company, e-Serve International Ltd, by 10 percentage points in the last quarter ended September 30, 2002, ... More

    ALLIANCES & JOINT VENTURES


    Alopa, ARRIS sign pact
    BANGALORE: Alopa Networks, a provider of broadband subscriber solutions and operational support systems (OSS), has signed a strategic reseller agreement with ARRIS, a global communications technology leader. Under the agreement ARRIS ... More

    SOCIETY & DEVELOPMENT


    Corporates see merit in spirit of charity
    THE spirit of charity is thriving within the business community. Or so it would seem if recent Government approvals for tax deduction in computing profits is anything to go by. Data collated over the last 20 months shows that the National ... More

    SICK UNITS


    Damocle's sword hangs over Hindustan Photo — BIFR deadline for revival plan is Oct 16
    THE fate of the Government-owned photo-film manufacturing unit — Hindustan Photo Films Manufacturing Co Ltd (HPF) — at Udhagamandalam is likely to be known in a week's time. The Board for Industrial and Financial Reconstruction (BIFR) ... More

    Mysore Lamps can be turned around: Union
    MYSORE LampWorks Ltd, one of the oldest State public enterprises facing closure, could be revived and made viable if the Government reconsidered its decision, according to leaders representing the employees. The Government had taken a decision ... More

    OUTLOOK


    Maruti to review options on diesel engines
    WITH the anticipated reduction in the price disparity between petrol and diesel not happening as quickly as it hoped for, Maruti Udyog Ltd plans to "revisit its strategy" for having diesel engines for its cars. At present, Maruti sources diesel ... More

    PERFORMANCE


    Productivity, the buzz-word at Maruti
    WALK through Maruti Udyog's plant at Gurgaon in Haryana, about an hour's drive from Delhi; the emphasis on improving productivity is visible. "Towards World class Excellence - 2005. Striving for World Class through Challenge 50 - Go Fast, ... More

    Tata Engg prunes Sept Indica sales figures
    TATA Engineering, which disclosed on Tuesday a 33.3 per cent rise in sale of the Indica during September, today informed that its total sales rose by 23.7 per cent over the same period. Cumulative vehicle sales for the company stood at 18,208 ... More


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    In Depth
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