The Hindu Business Line : Tuesday, August 19, 2003

Maruti set to deal in pre-owned cars of other makers
INDIAN automobile major Maruti Udyog Ltd is all set to deal in `pre-owned' cars from other manufacturers at its True Value outlets. The company is likely to start buying other makes of second-hand cars from next month. Disclosing this to ... More

GoldQuest in talks with Titan for tie-up
GOLDQUEST International Pvt Ltd, a company that manufactures and markets gold and platinum coin collectibles and watches, is in talks with Titan Watches for a tie-up apart from exploring the possibilities of setting up a watch-making plant in ... More

Aurobindo Pharma director sells holding

AUDITING

Rotation of auditors a retrograde step, says Voltas chief
MR Ishaat Hussain, Executive Director, Tata Sons and Chairman, Voltas Ltd, voicing his '' personal'' opinion on the subject of rotation of auditors, has said, it could be a '' retrograde step.'' At several AGMs in the recent past, shareholders ... More

RESTRUCTURING

HFCL plans revamp to improve efficiencies
HIMACHAL Futuristic Communications Ltd has informed the BSE that the company is embarking upon a business restructuring exercise for improving efficiency at all levels of the organisation, thus enabling it to make optimum use of resources and ... More

MERGERS & ACQUISITIONS

M&M plans to buy Finnish tractor biz
MAHINDRA & Mahindra (M&M) board is meeting on August 21 to consider a proposal to submit an offer for acquiring the tractor business of Valtra Oy Ab, Finland and Valtra do Brazil. The company had said earlier it was in discussions with the ... More

ALLIANCES & JOINT VENTURES

British Gas wants to retain 50% stake in joint venture arm
BRITISH Gas Plc (BG) has decided to retain its 50 per cent holding in its Indian joint venture gas distribution subsidiary Mahanagar Gas Ltd (MGL). The other joint venture partners are Gas Authority of India Ltd (GAIL) and the Maharashtra ... More

Northwest, Promantra tie up to set up geriatric hospital
NORTHWEST BEC Corp, a $100-million privately held US corporation, has announced its plans to establish a 300-bed hospital for geriatric care in a tie-up with Promantra here in Hyderabad. The project will involve an outlay of $6 million. At a ... More

IOC-Tata Motors in marketing tie-up
INDIAN Oil Corporation and Tata Motors on Monday signed a memorandum of co-operation for setting up joint marketing services. The tie-up will allow Tata Motors to set up service stations for its commercial vehicles (Tata Authorised Service ... More

DIVERSIFICATION

GR Cables to foray into power generation
FINDING potential in the power generation segment, G.R. Cables Ltd, the Hyderabad-based jelly-filled telecom cables and power cables manufacturer, has decided to diversify into power generation. Accordingly, the company has acquired an existing ... More

Regency group in expansion mode — Setting up two gas-based power plants
THE Regency group, engaged in the production of ceramic tiles with manufacturing units at Yanam and Karaikal in Pondicherry, is expanding the capacities of the two units and also setting up two gas-based power plants involving an investment of ... More

OUTLOOK

BPCL plans Rs 1,500-crore investment in exploration
BPCL is considering investments worth Rs 1,000-1,500 crore in exploration and production of oil and gas over the next five years. The company also plans to enter the natural gas business, Mr Sarthak Behuria, Chairman and Managing Director, told ... More

Voltas expects 20% growth this fiscal — Severe competition freezes debtors' dues
VOLTAS Ltd expects a 20 per cent growth this fiscal in the domestic market for air-conditioners. But the tussle for market share is very tough. The Tata group company, once market leader in air-conditioners, slipped to fifth position before ... More

Customer First aims to post 150 pc growth
CUSTOMER First Services, a Bangalore-based contact centre with a major focus on the domestic market, expects to grow at over 150 per cent in the current year and plans to add some 300 agents. Mr Sandip Sen, Chief Executive, Customer First said ... More

Usha Martin firms up plans to add capacity
USHA Martin Ltd has firmed up plans to expand its steel-making capacity from the current 2.7 lakh tonnes per annum to 4 lakh tonnes. The expansion is expected to be completed in another 12 months and will be achieved by adding balancing ... More

PEOPLE

R.P. Khaitan elected Cetma President
SPECULATION has been set at rest regarding who is going to take over the mantle of the Consumer Electronics and TV Manufacturers' Association (Cetma). The recently concluded elections have given the mandate to Mr R.P. Khaitan to take over as the ... More

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