The Hindu Business Line : Wednesday, March 02, 2005

Tata Motors unveils `crossover' at Geneva
LESS than a week since Toyota launched Innova in India, Tata Motors has unveiled a `crossover' vehicle concept called Tata Xover, at the ongoing Geneva Auto Show. The Tata Xover will blend the benefits of a family-friendly luxury tourer with ... More

P&G Hygiene to pay royalty to parent co
PROCTER & Gamble Hygiene and Health Care Ltd on Tuesday informed the Bombay Stock Exchange that it will be paying royalty of 5 per cent net of taxes to Procter & Gamble Company, USA for the use of technical knowhow and trademark provided by t More

ONGC Videsh bags Syrian oil block contract
ONGC Videsh Ltd, the overseas arm of exploration company Oil and Natural Gas Corporation, has bagged a contract to develop an oil block believed to have in-place reserves of 600 million barrels, along with its consortium partner IPR Energy Red ... More

APGenco bags Sikkim contract
ANDHRA Pradesh Power Generation Corporation Ltd (APGenco) has won the operation and maintenance contract (O&M) for the 1200-megawatt (MW) Teesta Stage III Hydro Electric Power Project in Sikkim. APGenco, in association with Athena Power ... More

OVERSEAS BORROWINGS

Dwarikesh Sugar plans FCCB issue to raise $25 m
THE board of directors of Dwarikesh Sugar Industries Ltd, at a meeting on Monday, approved the convening of an EGM to obtain sanction for issue of foreign currency convertible bonds amounting to $25 million. "Apart from the ongoing expansion ... More

AWARDS & HONOURS

Award for silk carpet exports

ACCOUNTANCY

ICAI council: Govt move to have more nominees rejected
THE Government's attempt to have a larger hold over the Institute of Chartered Accountants of India (ICAI) may face a roadblock. A Parliamentary panel has rejected the proposal in the Chartered Accountants (Amendment) Bill, 2003 that seeks to ... More

TAXATION

Partnership firms will have to file I-T returns
PARTNERSHIP firms would from April 1 be required to necessarily file their income-tax returns irrespective of their income level. The Budget proposes to amend income-tax provisions for this purpose. The Finance Bill 2005 also intends to ... More

MERGERS & ACQUISITIONS

Citigroup arm picks up stake in Abhishek Industries
FOREIGN investors are increasingly picking up stakes in Indian textiles players because of the huge export potential following the end of trade quotas late last year. A private equity arm of Citgroup has picked up a 7-per cent equity in ... More

NEW PROJECTS

Ashok Leyland mulls plant in North India
ASHOK Leyland is considering setting up a unit in either Uttaranchal or Himachal Pradesh, in view of the incentives given to units set up in the two States. Manufacturing units set up in the two States (and in J&K too) are exempted from excise . More

SOCIETY & DEVELOPMENT

First Global Compact meet from March 8
TATA Steel, along with CII is holding the first two-day South Asian Regional Conclave of Global Compact in Jamshedpur from March 8. The UN Secretary General, Mr Kofi Annan, launched the Global Compact in 1999. Addressing a conference here on ... More

SICK UNITS

JCT Electronics: BIFR asks creditor bank to submit dues statement
THE Board for Industrial and Financial Reconstruction (BIFR) has asked Oman International Bank SAOG (OIB), one of the creditor banks of JCT Electronics Ltd, to prepare a statement of its dues to the company including the interest. It directed ... More

OUTLOOK

Tata Steel to plead for status quo in rail freight
TATA Steel is to shortly appeal to the Railways not to enforce the minimum chargeable weight at the enhanced rates, as proposed in the Rail Budget for 2005-06. The proposed rates, if enforced, will substantially push up the rail transportation ... More

PERFORMANCE

New models rev up sales of Bajaj Auto sales by 25 pc
BAJAJ Auto Ltd reported a 24.8 per cent growth in its vehicle sales in February 2005 with two-wheeler sales registering a 31 per cent increase while three-wheeler offtake showing a dip of 7.8 per cent. Motorcycle sales increased to 1,29,409 ... More

Hero Honda sales up 9 pc in Feb
HERO Honda Motors Ltd on Tuesday said it sold 2,23,546 bikes in February, up 9.3 per cent from 2,04,555 units in the same month a year earlier. Sales in April-February rose 27 per cent to 23,89,807 units from 18,77,976 in the year-ago period, ... More

Budget hopes slow Maruti sales in Feb
ANTICIPATION by consumers of an impending price decline following the Union Budget impacted the sales of Maruti Udyog Ltd (MUL) in February as it registered 3.2 per cent rise in vehicle sales to 43,603 units, including 3,777 units of exports. The ... More

PEOPLE

Behuria takes over as IOC Chairman
NEW DELHI: Mr Sarthak Behuria has assumed office as Chairman, Indian Oil Corporation Ltd (IOC). He takes over from Mr M. S. Ramachandran, who superannuated on Monday, an IOC release said here. Mr Behuria was earlier the Chairman and ... More

Scoreboard
SE Diary

Comments & Letters to the Editor to: bleditor@thehindu.co.in
Subscribe to: Business Line

Pick a Winner Stock Market Contest

Partnership firms will have to file I-T returns

Experts seek rollback of cash withdrawal tax

Ashok Leyland mulls plant in North India

Net worth floor for private banks fixed at Rs 300 cr

`In the right direction for hardware sector'

Fringe tax to bite deeper into smaller IT cos

In Focus

BHEL Disinvestment

The Yuan Revaluation