The Hindu Business Line : Tuesday, March 04, 2003

Chevrolet Forester to hit India on March 10
GENERAL Motors India on Monday unveiled the Chevrolet Forester, a sports utility vehicle (SUV), as part of its efforts to emerge as a leading player in the Indian automobile market over the next three years. Priced at Rs 15.59 lakh ... More

Amtrex Hitachi changes name
AMTREX Hitachi Ltd (AHA), a leading air-conditioner company in the country will be re-christened as Hitachi Home & Life Solutions (India) Ltd subject to statutory approvals. The shareholders of the company approved the change of the name at its ... More

Apollo Tyres to pass on excise benefits
APOLLO Tyres Ltd (ATL) has announced that the company would be passing on the benefits of the excise cuts announced in the Budget for 2003-04 to its end customer. "The reduction in excise duty on tyres is an immediate cause for relief for the ... More

ICPCI launches Cuprobraze tech for auto radiators
"With EU restrictions falling into place from July 1 that no lead should be present in radiators, cuprobraze will create lead-free radiators." More

Honda Siel cuts prices
HONDA Siel Cars India has reduced the prices of its cars, following the eight per cent reduction in excise duty announced in the Budget 2003-04. The prices of Honda cars have been reduced in the range of Rs 27,000-35,000 for the Honda City ... More

Reliance hikes polymer prices
RELIANCE Industries Ltd has raised its almost all its product prices barring two.According to analysts, prices are at their highest since 1996 when petrochemical products industry saw its peak. RIL has raised the prices as international ... More

Whirlpool ACs set to become cheaper
WITH the summer slowly but steadily settling in and the Finance Minister, Mr Jaswant Singh, reducing the excise duty on air conditioners, consumer electronic corporates are waking up to the idea of passing on the benefits to the consumer. To be ... More

AWARDS & HONOURS

Maruti quality chief awarded

TAXATION

Advance ruling for subsidiaries expected soon
WHOLLY-OWNED Indian subsidiaries of foreign companies can soon avail the benefit of advance ruling on their indirect tax liability. The Finance Bill for 2003-04 has widened the scope of rulings that can be given by the Advance Ruling Authority ... More

CORPORATE BONDS

Essar Oil to reschedule NCD payment
ESSAR Oil Ltd proposes to reschedule the redemption of principal and interest payments on its 14 per cent non-convertible debentures (NCD) scheme.The company had raised around Rs 500 crore through the NCD issue in the mid-90s to fund its refinery ... More

MERGERS & ACQUISITIONS

Ministry pushes thru MRPL deal
"Wresting control of MRPL by ONGC was not simple. The HPCL board had made way for the new owners in a board meeting on February 27. It, however, continued to haggle over details of the new agreement even as the Cinderella clock was ticking away.'' More

Birlas to get 9-month price protection
THE Birlas, while offloading their equity in the ailing Mangalore Refineries and Petrochemicals Ltd (MRPL) to Oil and Natural Gas Corporation Ltd (ONGC),have managed to bargain for a provision to protect their sale price of Rs 2 per share. On ... More

REGULATORY BODIES & RULINGS

Ranbaxy gets tentative US nod for BP drug
PHARMA major Ranbaxy Laboratories Ltd (RLL) has received tentative clearance to market the bio-equivalent of Lotensin, the hypertension drug from Novartis Pharmaceuticals Ltd. Ranbaxy Pharmaceuticals Inc (RPI), a wholly-owned subsidiary of ... More

ALLIANCES & JOINT VENTURES

Dabur Foods loses Tang; Kraft snaps ties
IN yet another story of an MNC and its domestic partner falling out, Kraft Foods, which has had a distribution alliance with Dabur Foods since April 2001, has decided to call off the arrangement. Dabur Foods, the wholly-owned subsidiary of the ... More

Apollo to roll out truck tyres designed for southern roads
IN a bid to bolster its position in the South, tyre manufacturer Apollo Tyres Ltd is planning variants of its truck tyres specially developed for the region. "The southern market is very different from other regions. The customer there does ... More

RIGHTS ISSUES

GACL board okays rights issue
THE board of Gujarat Alkalies and Chemicals Ltd (GACL) has approved a proposal for making a rights issue of equity shares in the ratio of three new equity shares of Rs 10 each at a premium of Rs 2.50 per share for every five existing equity ... More

STANDARDS & BENCHMARKS

Dabur Real gets HACCP certification
DABUR Foods' Real fruit juice has been given the SGS (Societe Generale de Surveillance) certifications of high-safety standards conforming to Hazard Analysis & Critical Control Point (HACCP) and Good Manufacturing Practice (GMP), a company ... More

PERFORMANCE

LML February sales jump on `Freedom'
RIDING on the success of its recently launched bike `Freedom', two-wheeler manufacturer, LML has recorded a 407 per cent jump in motorcycle sales to 18,815 units in February 2003 as against 3,708 units in the corresponding month in the previous ... More

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