Financial Daily from THE HINDU group of publications
Saturday, October 26, 2002
Markets (Oct. 25)
BL 2501002.27 (-13.84)
BSE Sensex2875.53 (-32.52)
S&P CNX Nifty932.20 (-14.70)
Dollar (Buy/Sell)48.33/48.46
Gold Std (10 gm)5140 (+10)

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Emerson Network offers `uptime' solutions to cos — `Downtime' loss estimated at Rs 20,000 cr
EMERSON Network Power India Ltd found that a food processing company making fruit juices was losing 45 per cent of its profits before tax because its processing plant was down thanks to power outage. This kind of "downtime" linked to power ... More

WeP printer sales top 1 m
WeP Peripherals, (formerly Wipro ePeripherals Ltd) today announced that it had crossed the 1 million mark in printers. The MAIT President, Mr S. Devarajan, held the company as an example of a survivor in what is considered a tough market in India ... More

OVERSEAS BORROWINGS


Only listed cos may be allowed to offer IDRs
ISSUANCE of Indian depository receipts (IDRs) may be restricted to only listed overseas companies having good profitability record, according to a Department of Company Affairs (DCA) official. ``The current thinking in the Department is only to ... More

COURTS/LEGAL ISSUES


  • SC reserves KIOCL verdict for Tuesday

    MANPOWER


    Pending wage settlement — HLL Garden Reach unit workers threaten strike
    HINDUSTAN Lever Ltd (HLL) is contemplating cutting down production and reducing the number of permanent workers at its Garden Reach factory from 1200 to 700, sources say. When contacted, a HLL spokesperson preferred not to answer the query. The ... More

    RESTRUCTURING


    ICCL in talks with FIs, lenders for debt revamp
    FERRO chrome major Indian Charge Chrome Ltd (ICCL), an IMFA group company, is hopeful of soon putting in place a debt restructuring package. Negotiations in this regard have already been initiated with financial institutions and other term ... More

    NEW PROJECTS


    Setting up merchant washeries — Monnet Ispat in talks with CIL
    MONNET Ispat Ltd is in talks with public sector giant Coal India Ltd (CIL) for setting up merchant coal washeries that will function on a commercial basis for the first time in the country. The company has finalised plans for setting up three ... More

    Chemplast PVC project approval hits eco hurdle
    THE Tamil Nadu Government has not approved Chemplast Sanmar's proposed PVC project because of concerns over possible adverse environmental impact. Disclosing this in the Assembly during the Question Hour on Friday, the Minister for Forests and ... More

    VocalTec opens office in New Delhi
    NEW DELHI: Telecom equipment provider VocalTec Communications Ltd. has announced that it has opened an office in New Delhi to support its expanding business in India. To support these activities, a legal entity is being established ... More

    REGULATORY BODIES & RULINGS


    SEBI to speed up enquiry into L&T insider trading
    THE Securities and Exchange Board of India has said that it would expedite and try to complete the investigations into the possibility of insider trading in Larsen & Toubro (L&T) shares before the open offer by Grasim for L&T shareholders ... More

    OUTLOOK


    Indian Hotels comes out of post-Sept 11 blues
    THE Indian Hotels Company Ltd (IHCL), which operates the country's largest hotel chain - the Taj, today disclosed second quarter (Q2) results that indicate a recovery from the ills of September 11, 2001. For Q2, IHCL returned a profit after ... More

    Ashok Leyland: e-com, ratings are next priorities
    ASHOK Leyland is poised to reap the benefits of more material cost reduction, from the last quarter of the current year onwards, when the company's e-Commerce initiative will be fully operationalised. The company's Executive Director-Finance, ... More

    PERFORMANCE


    Hindustan Lever: Accounting change trims decline in topline figure
    A CHANGE in Hindustan Lever's accounting policy has made the shrinkage in top-line appear lower than what it actually is. HLL's numbersshow 7.2 per cent shrinkage in net sales for the September quarter. This is significantly lower than the 9.9 ... More

    Leyland: Cost control, volume growth show the way
    STRONG volume growth, a tight leash on costs and a constantly improving product mix are the three main factors responsible for the good performance of Ashok Leyland Ltd (ALL) in the second quarter. In fact, it has been a strong performance on the ... More

    Tax refund brings SCI back in black
    AN income tax refund of Rs 82.42 crore enabled Shipping Corporation of India (SCI) to come out of the red in the second quarter. Despite a fall in the total income, the company (which suffered a Rs 6 crore loss in the first quarter of the ... More

    NEW PRODUCTS & SERVICES


    M&M rolls out petrol version of Scorpio
    MAHINDRA & Mahindra Ltd (M&M) rolled out the petrol version of its new sports utility vehicle (SUV) - the `Scorpio' - here on Thursday. The model, christened `Rev 116', is fitted with a 2-litre, 116 bhp, MPFI engine sourced from the French ... More
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    M&M rolls out petrol version of Scorpio


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    SEBI to speed up enquiry into L&T insider trading

    Only listed cos may be allowed to offer IDRs

    The anti-bacterial bubble goes bust

    In Depth
    Gender Justice
    Simple Economics
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    Looking back
    Oct. 13-Oct. 19
    Packaging matters as much as foodstuff inside


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