The Hindu Business Line : Wednesday, November 20, 2002

Ram Laxman's new owners annul pact with Holiday Inn
CLASSIC City Investments Pvt. Ltd., the new owners of Holiday Inn, Pune, have scrapped the existing management contract for the hotel with the Holiday Inn group. The existing contract was made by the erstwhile owner of the property, Ram Laxman ... More

ONGC Videsh in talks to acquire equity oil abroad
ONGC Videsh Ltd (OVL) is currently negotiating with Myanmar, Iran, Iraq, Kazakhstan and the US for acquiring equity oil abroad as a part of the Government's strategy to achieve energy security, according to Mr Ram Naik, Union Minister for ... More

Indo Rama hikes product prices
CASHING in on the continued surge in domestic demand, polyester manufacturer Indo Rama Synthetics (I) Ltd has hiked the basic price of its partially oriented yarns (POY) and Fully Drawn Yarn (FDY) with effect from November 15. "The continued ... More

PREFERENTIAL ALLOTMENTS

Electrolux EGM on Dec 4 on preference issue to parent
ELECTROLUX Kelvinator Ltd (EKL), the merged entity of Electrolux India Ltd and Intron Ltd , has decided to convene an extraordinary general meeting on December 4 to obtain the consent of its shareholders for the proposed preference shares issue ... More

MERGERS & ACQUISITIONS

Bridgestone plans to make commodity grade tyres — To buy out ACC, Tata Engg stakes
JAPANESE tyre manufacturer Bridgestone Corporation is planning to make commodity grade tyres in India as part of its global capacity expansion plan and geographical realignment of production capacities. As a prelude to the move, the company has ... More

NEW PROJECTS

Tata Steel's chrome venture forges new links abroad
TATA Steel's proposed ferro chrome venture in South Africa, which was cleared by the company's board on October 30, is significant for several reasons. The company's new initiative in the field of power-intensive ferro chrome manufacture comes ... More

ALLIANCES & JOINT VENTURES

VSNL to match Data Access rates — Pact signed with BSNL
ENDING their eight-month long dispute over the revenue to be shared from international calls, telecom behemoths Videsh Sanchar Nigam Ltd (VSNL) and Bharat Sanchar Nigam Ltd (BSNL) have inked an agreement with compromises made by both the parties ... More

Hilton, Blue Coast form joint venture — Hotels in Mumbai, Bangalore, Goa
HILTON International and Blue Coast Hotels and Resorts Ltd (formerly Morepen Hotels) today announced the setting up of a joint venture company - Hospitality Holdings India Ltd - to develop first class, luxury hotels and resorts in the ... More

INTERVIEW

`We are getting more consumer-centric and less manufacturing-centric'
THOUGH it has a small presence on the bourses, the Rs 4,000-crore Godrej group is part and parcel of the history of Indian industry with operations spanning locks to soaps and IT. Like other old business groups, Godrej has also transformed ... More

SOCIETY & DEVELOPMENT

Corporates and social responsibility — Making business purposeful
THERE are important voices in society that question whether business has any purpose other than to maximise profits. Milton Friedman wrote in 1963: "There is one and only one social responsibility of business — to use its resources and ... More

SICK UNITS

BIFR seeks Metal Box report on rehab scheme progress
THE Board for Industrial & Financial Reconstruction (BIFR) has asked the management of Metal Box India Ltd to submit the progress report on the implementation of the rehabilitation scheme for the company. In response to BIFR's earlier direction ... More

OUTLOOK

Rajasthan Spinning hopes for 15 pc growth in exports
RAJASTHAN Spinning & Weaving Mills Ltd (RSWML), a LNJ Bhilwara group company, hopes to record an export turnover of about Rs 150 crore this fiscal. This represents a 15 per cent jump in the export sales of about Rs 130 crore recorded in the year ... More

vMoksha hopes on break-even — Considering two more acquisitions
VMOKSHA Technologies Ltd, an e-business transformation company based here, expects to break even by the end of this financial year. The company is targeting revenue of $18 million for the current fiscal. "We have already achieved a cash ... More

Daimler targets sales of 600 E Class cars in 2003
DAIMLER Chrysler India Pvt Ltd, the makers of Mercedes Benz, expects to sell 600 E Class cars in calendar 2003, Managing Director, Mr Hans-Michael Huber said. Mr Huber was speaking to newspersons after the launch of the new E Class at ... More

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