The Hindu Business Line : Tuesday, January 14, 2003

Toyota to wait for policies to fall in place
THE Japanese automotive major, Toyota Motor Corporation (TMC) sees India as a good market for investment and selling its range of cars but would wait till its earlier engagement through the joint venture with the Kirloskar taking concrete future ... More

Daikin in talks for setting up unit in India
THE $4.5-billion Japanese air conditioning major, Daikin Industries Ltd, is planning to set up a manufacturing facility in India. "We do want to set up a facility in India and are in talks for same," Mr Takao Nakamoto, Managing Director of Daikin ... More

Sathavahana Ispat resumes operations
SATHAVAHANA Ispat Ltd (SIL), the Hyderabad-based Rs 94-crore pig iron and granulated slag manufacturer, has resumed plant operations at Haresamudram in Anantapur district, after completion of relining of blast furnace and capital repairs. SIL had ... More

ACCOUNTING STANDARDS

IFAC for ban on complex financial instruments
CLAIMING that the auditing and accounting profession are not the main cause for the "corporate failures" that struck the US last year, the President of the International Federation of Accountants (IFAC), Mr Rene Ricol, has called for a ban on the ... More

OPEN OFFERS

Calibre makes open offer for Saptarishi Agro
CALIBRE Rehabs Ltd, which is acquiring Saptarishi Agro Industries Ltd, a mushroom exporting unit from Global Green Company Ltd, has made an open offer to acquire the 20 per cent equity available with the shareholders at Rs 1.50 per share. The ... More

RESTRUCTURING

McKinsey to advise on strategy
INDIAN Oil Corporation has mandated McKinsey to do a `Structure, Process, People' study. The consultants will also advise IOC on strategy, and resource optimisation across IOC's own seven refineries and the two refineries of its ... More

Gestetner closes Nasik factory
MUMBAI: Gestetner India Ltd today informed the Bombay Stock Exchange that it had decided to close its Nasik factory because of uneconomical manufacturing operations. The closure is with effect from January 12. Consequently, the services ... More

MERGERS & ACQUISITIONS

Stake in Chennai Petro — IOC plans stock swap with National Iranian
INDIAN Oil Corporation Ltd, which owns 51 per cent of Chennai Petroleum Corporation Ltd, has proposed a stock swap to acquire the National Iranian Oil Company's stake in Chennai Petroleum Corporation (CPCL). That is, Indian Oil Corporation ... More

NEW PROJECTS

IOC plans to foray into African markets
On the LNG facility being planned at Dahej, Mr Ramachandran said IOC had fruitful discussions recently with a Qatari delegation and RasGas had offered gas at competitive prices. IOC would have to talk to consumers in the power and fertiliser sectors and enter into long-term contracts. More

SICK UNITS

Pennar Profiles seeks AP Govt nod to lay off workers
PENNAR Profiles Ltd (PPL), the ailing aluminium profiles company belonging to the Hyderabad-based Pennar group, has decided to reduce the manpower strength. In a communiqué to the stock exchanges, the company said it had submitted a proposal to ... More

OUTLOOK

Honda plans big for India
MOTORISTS love to zip through the new expressway that leads to Greater Noida from Delhi, escaping from the frustrating traffic of the Capital. And, if there is anyone in the vicinity who wants to end their joy ride by crowding the roads with ... More

Usha Beltron sees 50 pc rise in exports
UBL's rationale for driving exports stems from the fact that its margins on overseas sales are higher than those on domestic sales. More

Ikon variants to drive Ford market share
RIDING on the Ikon `Josh' NXT variants, Ford India Ltd, which currently accounts for a market share of about 20 per cent in the `C' segment in the country, is on an ambitious overdrive. It plans to increase the share, targeting domestic sales of ... More

Kinetic hopes to post 30 pc growth
THE Pune-based two-wheeler major, Kinetic hopes to achieve 30 per cent growth in its sales by next fiscal when it plans to launch a special edition of its motorcycle combined with the projected sales of its four-stroke scooter Nova. Launched ... More

Taj Air Caterers diversifies into corporate catering
TAJ Air Caterers, the joint venture between Indian Hotels Ltd, Malaysian Airlines and Singapore Airlines, which caters to 11 airlines operating out of Chennai, has almost 70 per cent of the air catering market. Despite the slowdown in the ... More

NEW PRODUCTS & SERVICES

IOC launches upgraded auto fuels in Chennai
INDIAN Oil Corporation today launched higher octane petrol and additive-reinforced diesel in Chennai. The petrol, called `IOC premium petrol' has an octane rating of 91, as against the normal 88 octane petrol. This means the hydrocarbon ... More

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