The Hindu Business Line : Thursday, February 06, 2003

Maruti to launch cheaper Alto
MARUTI Udyog Ltd (MUL), the country's largest car manufacturer, is all set to introduce a stripped-down version of its Alto model this month, in a bid to make it more affordable to the car buyer on a tight budget. An MUL spokesperson, when ... More

Triumph to promote UDV brands
MR Deepak Roy, who had recently concluded a successful management buyout of UDV's domestic whisky brands comprising Gilbey's whiskies, has decided to promote and market these brands throughout the country utilising the UB group's available ... More

GTN Textiles' promoters gifted equity shares
TWO promoters of GTN Textiles Ltd (GTL), a Kerala-based Rs 231-crore yarn manufacturer, have been gifted over one lakh equity shares each by another promoter of the company. The GTL Vice-Chairman and Managing Director, Mr Binod Kumar Patodia, ... More

ACCOUNTING STANDARDS

Venture capital funds excluded from AS-13
VENTURE Capital funds have been excluded from the scope of the mandatory Accounting Standard (AS-13) on `Accounting for Investments' issued by the Institute of Chartered Accountants of India (ICAI). The 30-member Central Council of the ICAI ... More

RESTRUCTURING

Equity conversion option for corporate debt revamp
THE Reserve Bank of India has decided to classify two categories of debt restructuring under the revised corporate debt restructuring scheme. The first category will comprise accounts classified as `standard' and `sub-standard' and the second ... More

RPG group likely to hive off some cos — To concentrate on core competence areas
THE RPG group, is planning to hive off some of its companies as part of its business consolidation drive, according to sources. While, expectedly, sources were tightlipped about exactly which companies would be put on the chopping block, it was ... More

ALLIANCES & JOINT VENTURES

Skokdaexport, BHEL join hands for overseas projects
BHARAT Heavy Electricals Ltd (BHEL), the public sector engineering major, and Skodaexport, a leading international EPC contractor, have entered into an alliance for setting up worldwide projects in the field of power generation and transmission ... More

SICK UNITS

Pepsi arm knocks at BIFR doors — First hearing slated for next week
SOFT drinks major Pepsi is in the news yet again, but this time it's for a different reason. Knocking the doors of the Board for Industrial and Financial Restructuring (BIFR) is its manufacturing arm, Aradhana Beverages Manufacturing Company ... More

OUTLOOK

Urban market may power FMCG — Rural growth likely to be flat, feels HLL
"I feel growth in the rural markets will be poor in 2003 because of the poor agricultural situation. However, the urban markets may grow faster than in 2002," Mr Adi B. Godrej, Chairman, Godrej Group, said. A week ago, at his company's annual ... More

Leyland ups sales growth forecast by 20%
ASHOK Leyland on Wednesday said its sales for the current fiscal would grow by 20 per cent over the previous year, revising an earlier projection of 15 per cent growth in view of robust sales of heavy and medium commercial vehicles. "Earlier we ... More

PERFORMANCE

Ikon sales up 102 pc on NXT success
THANKS to the launch of the upgraded Ikon NXT, Ford India Ltd sold 1,737 units of the car in January — a 102 per cent jump over the 860 units it sold in January 2002. Ford launched the Ikon NXT in January, incorporating as many as 149 ... More

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