The Hindu Business Line : Friday, October 11, 2002

Hyundai launches new diesel engine for Accent
HYUNDAI Motor India Ltd today launched the CRDi - Common Rail Direct Injection - diesel engine Accent. The CRDi diesel engine, which is supposed to combine the performance and handling of a petrol engine with the fuel efficiency of a ... More

HDFC mulls bonus issue
THE board of Housing Development Finance Corporation Ltd (HDFC) is to consider a bonus issue and a proposal for a five per cent share buy-back. The board would meet on October 17 to decide on these two proposals, an official statement said ... More

Ad campaign to position CRDi engine
HYUNDAI Motors is using a communication strategy for the launch of its Accent CRDi that will tout the superiority of CRDi technology and seek to differentiate between a diesel and a CRDi engine, though the latter is essentially a diesel engine as ... More

New owners pump Rs 36 cr into Hotel Sreelekha
HOTEL Sreelekha, which was acquired by G.L. Raheja Group, is set to open in October 2003. At present, the hotel is under renovation and the investment into the project is Rs 36 crore, according Mr Amar Tekchandaney, General Manager, Finance & ... More

Jindal Vijayanagar contract for Mecon
MECON Ltd has bagged an assignment from Jindal Vijayanagar Steel Ltd (JVSL) against stiff competition from various multinational companies. The job incorporates setting up of a 1,250 cubic metre blast furnace at Toranagallu in Bellary district of ... More

Exide plans to introduce `Eternity' car battery
EXIDE Industries Ltd (EIL) has planned to launch a new longer life car battery. Stating this here today, the Exide Chairman, Mr S.B. Ganguly, said that the battery has been christened as `Eternity', and will be launched in the first quarter of ... More

L&T wins two IBRD projects in Tanzania
LARSEN & Toubro has won two World Bank financed lumpsum turnkey contracts in Tanzania of total order size $100 million. The order is from a company called Songas Ltd. AES Corporation is the sponsor and equity holder in the project, said a news ... More

ACCOUNTING STANDARDS

`Fudged accounts' surface to stump Shourie
PRIVATE strategic investors who have acquired control over non-listed, loss-making, fully-Government-owned PSUs have detected "accounting irregularities'' allegedly committed by the erstwhile managements, creating a big problem for the ... More

CORPORATE DISPUTES

BG, ONGC chiefs discuss Panna-Mukta
THE top brass of the BG Group and Oil and Natural Gas Corporation today met to resolve the eight-month-long dispute over the operatorship of the Panna-Mukta oil and gas fields. "There will be some give-and-take aimed at resolving the issues," a ... More

COURTS/LEGAL ISSUES

Out-of-court settlement fails — `Phaneesh suit will hit results'
INFOSYS Technologies today indicated that the option of out-of-court settlement in the sexual harassment and wrongful termination suit had fallen through and the lawsuit might go to trial. Any unfavourable resolution of this lawsuit could ... More

MERGERS & ACQUISITIONS

BILT Graphic Papers merger with BILT approved
THE board of directors of Rs 1,450-crore Ballarpur Industries Ltd (BILT) today gave its nod for the amalgamation of BILT Graphic Papers Ltd (BGPL), formerly Sinar Mas Pulp and Paper India, with the company. BGPL is currently a subsidiary of BILT. ... More

Tata Engg raises stake in Concorde to 49 per cent
FOLLOWING the approval from the Reserve Bank of India, Tata Engineering and Locomotive Company Ltd has increased its equity in Concorde Motors Ltd (CML) to 49 per cent through the purchase of Jardine International Motors (Mauritius) Ltd's holding ... More

NEW PROJECTS

Chordia group plans food park in Pune
THE city-based Chordia Food Products is setting up a food park at an outlay of Rs 100 crore spread over the next seven years. The 100-acre Chordia food park is being set up at Shirwal, 55km off Pune on the Pune-Bangalore Highway. The aim ... More

Exide arm to make switch mode rectifiers for telecom sector
CALDYNE Automatics Ltd, a subsidiary of Exide Industries Ltd, has decided to manufacture switch mode rectifiers (SMR) for telecom application. Mr S.K. Mukherjee, Managing Director of the company,told this to presspersons on Thursday at the formal ... More

Foretech in expansion mode
BANGALORE: Foretech India, a Bangalore-based customer support company, is expanding its horizon as an information provider through Eazycall, a service that furnishes any kind of information through its toll free telephone number ... More

ALLIANCES & JOINT VENTURES

Reva ties up with UK co for Europe foray
THE Bangalore-based Reva Electric Car Company has tied up with Going Green Ltd, a UK-based organisation that markets environment-friendly products and services. Initially, Going Green will promote the electric car in the UK, and thereafter in ... More

Albert David, Calcutta varsity sign R&D pact
THE pharmaceutical company, Albert David Ltd, has entered into an agreement with Calcutta University for research and development activities. According to Mr K.P. Mundhra, Executive Director of Albert David, a formal memorandum of understanding ... More

DIVERSIFICATION

SRF board clears move to invest in IT-based biz
THE board of directors of nylon tyre cord fabric manufacturer, SRF Ltd, on Wednesday approved a proposal to invest up to Rs 15 crore in information technology based businesses in India or abroad. A senior SRF official termed the board's ... More

SICK UNITS

Decision soon on Trayons revival
THE State Government is expected to take a final decision on the revival of the sick Travancore Rayon Ltd (Trayons) within the next fortnight. Speaking to Business Line, the Industries minister, Mr P.K. Kunhalikutty, said that the ... More

PERFORMANCE

Infosys: Onsite engagements, outsourcing deals drive growth
A SHARP rise in onsite engagements and growing number of strategic outsourcing deals appear to have been the key driver of the revenue growth of Infosys in the second quarter of 2002-03. The robust volume growth has helped Infosys clock ... More

M&M auto sector grows 27 pc in Apr-Sept
MAHINDRA & Mahindra's (M&M) auto sector has registered a growth of 27 per cent for the period April to September 2002 with a sale of 36,103 vehicles against a sale of 28,475 units in the year-ago period. In the utility vehicle and light ... More

Tata vehicle sales

NEW PRODUCTS & SERVICES

Maruti opens first used car outlet in TN
MARUTI Udyog Ltd (MUL), which made an entry into the used car market about a year back as part of its strategy to expand its market reach, opened a `Maruti True Value' outlet in Coimbatore on Thursday, making it the first MTV outlet in Tamil ... More

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