CORPORATE
ANNOUNCEMENTS
TVS Motor Aug sales skid on truckers' strike
TVS Motor Company's two-wheeler sales in August were hit by the weeklong truckers' strike, which affected supplies. According to a press release from the company, it sold 89,500 two-wheelers in August compared with 1,01,320 during the same ...
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Bajaj Auto to launch Discover in a week
BAJAJ Auto Ltd (BAL) has confirmed that it would be launching its executive segment motorbike, Discover, in a week's time. The latest offering from the Bajaj Auto stable is expected to hit the roads in a few northern States in September, ...
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LG Care opens corporate HQ in Chennai
LG Care, a part of the Korean conglomerate LG Group, opened its Rs 6-crore corporate headquarters here. The five floors cover an area of 20,000 sq ft, with recreational facilities and a cafeteria and will house all the company's corporate ...
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AWARDS & HONOURS
Doctorate for Amalgamations Vice-Chairman
THE Manonmaniam Sundaranar University, Tirunelveli, has conferred on Mr A. Krishnamoorthy, Vice-Chairman, Amalgamations group, an honorary doctorate in literature. According to a press release from the company, the degree was conferred on Mr ...
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HUMAN RESOURCES
Don't sign the attendance register, just log in!
REMEMBER your college days when half the class hollered `Present, Sir!' and provided "proxy" attendance for the rest that bunked class? You leave the fun and carefree ways behind when you step into a job. You're to dutifully sign the attendance ...
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MERGERS & ACQUISITIONS
GMI close to completing Daewoo due diligence
GENERAL Motors India today said that it was on the verge of completing the due diligence process to acquire the car assembly unit of Daewoo Motors India and that the company would make a formal request to the Debt Recovery Tribunal (DRT) to take ...
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NEW PROJECTS
Surya Roshni plans Rs 220-cr investment for expansion
SURYA Roshni Ltd is in an expansion mode. The lighting and steel pipes company is mulling a Rs 200-crore investment over two years to expand its manufacturing capacity for lighting. Also, it is examining the possibility of setting up a new ...
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BPCL to set up Rs 318-cr base oil production unit at Trombay
BHARAT Petroleum Corporation Ltd is setting up a Rs 318-crore, 1,80,000-tonne unit for producing base oil, raw material for producing automotive and industrial lubricants, at its Trombay refinery. The project, which is independent of BPCL's ...
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Raymond plans fabric plant in Thailand
RAYMOND Ltd plans to set up a greenfield worsted fabric plant in Thailand with an investment outlay of $30-40 million, according to its Chairman and Managing Director, Mr Gautam Hari Singhania. Talking to the media after inaugurating the ...
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Jindal Steel plans $50-m loan
NEW DELHI: Jindal Steel & Power Ltd (JSPL) is planning to raise $50 million (around Rs 225 crore) through foreign loans towards its Rs 1,200-crore expansion plan at its Raigadh facility. The expansion plans include setting up an ...
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TRADE & LABOUR UNIONS
GTN Textiles declares lockout as workers strike
GTN Textiles Ltd has informed the bourses that the company's management has forced to declare lockout with effect from Tuesday as striking workmen at its yarn processing unit at Shadnagar, near here, turned violent. The workmen, the management ...
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ALLIANCES & JOINT VENTURES
ONGC to develop SEZ in Kakinada
OIL and Natural Gas Corporation (ONGC) will promote the development of a port-based special economic zone at Kakinada in Andhra Pradesh, along with Kakinada Seaports Ltd (KSPL) and Infrastructure Leasing and Financial Services Limited (IL&FS). ..
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SICK UNITS
Mahindra Gujarat Tractor moves into BIFR net — Told to submit revival plan by Sept 7
MAHINDRA Gujarat Tractor Ltd (MGTL), part of automobile major Mahindra & Mahindra, has been declared sick by the Board for Industrial and Financial Reconstruction (BIFR). Noting that it seemed possible for MGTL to make its net worth exceed its .
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OUTLOOK
CNN keen on extending presence in India
CNN International today indicated it was keen to increase its presence in the Indian market but had no immediate plans to launch an India-specific channel. "We are interested in extending our brand in the local market and are also open to the ...
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Tata Motors eyes 50 pc increase in bus, truck exports
THE country's largest commercial vehicles manufacturer Tata Motors said on Wednesday that it expects exports of its trucks and buses to increase by 50 per cent this fiscal, over the 10,000 units exported last year. The company also said it ...
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Godfrey Phillips bets on exports for growth
GODFREY Phillips India (GPI), the country's second largest cigarette manufacturer, is betting on exports as a driver for growth in the coming years and could consider hiving off its international operations into a separate company in due course. ...
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PERFORMANCE
Maruti sales rise
NEW DELHI: Maruti Udyog Ltd, on Wednesday said that sales were impacted last month by an eight-day nationwide truckers' strike that halted supplies to dealers. Sales in August, including exports, rose 32.2 per cent to 42,480 vehicles ...
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Hero Honda sales up
NEW DELHI: Hero Honda Motors Ltd has posted a 31.5 per cent increase in sales in August. Sales, including exports, rose to 191,635 units from 145,730, the company said on Wednesday. The cumulative sales of the company for the period ...
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INVESTOR PROTECTION
Action plan soon to ease investor woes
TO ensure that fly-by night companies do not cheat investors, the Ministry of Company Affairs has decided to put in place an effective mechanism to mitigate the agonies of the investors, particularly small investors. Speaking at an informal ...
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