Financial Daily from THE HINDU group of publications
Saturday, April 13, 2002
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CORPORATE

CORPORATE DISPUTES


BPL Mobile says Aircel has unfair advantage in TN
BPL Mobile Cellular Ltd has appealed to both the Telecom Regulatory Authority of India (TRAI) and the Telecom Disputes Settlement Appellate Tribunal (TDSAT) for a level playing field with its rival Aircel, both of whom operate cellular phone ... More

RESTRUCTURING


Wartsila shuts down fuel oil import venture
WARTSILA India Ltd has close down its fuel oil trading joint venture with Coastal Energy of the US because of lack of demand in the domestic market. The company recently informed its shareholders about the move. The joint venture company ... More

MERGERS & ACQUISITIONS


MRPL may go into Reliance fold -- Birlas, HPCL in talks to shed part of stake
RELIANCE Industries Ltd is emerging as the candidate to take control over the ailing Mangalore Refineries and Petrochemicals. The A.V. Birla group and Hindustan Petroleum Corporation Ltd, the two joint venture partners in the 9-million-tonne ... More

IOC not to budge from rider on Haldia stake -- Bid to retain Saldanha as MD
THE issue of Indian Oil Corporation's entry into Haldia Petrochemical Ltd (HPL) is unlikely to be resolved quickly in view of the oil major's condition that it should be the single largest shareholder. Indicating this at an interaction with ... More

CORPORATE GOVERNANCE


Course on corporate governance on anvil
THE Centre for Corporate Governance is working on a course aimed at training directors of companies. It has moved the Department of Company Affairs in its bid to popularise the concept of good corporate governance and make its course ... More

NEW PROJECTS


Electrosteel sets up DI shop with Chinese knowhow
ELECTROSTEEL Castings Ltd, manufacturers of ductile iron (DI) pipes, has set up a DI fittings shop with technical collaboration from Xinxing Ductile Iron Pipe (Group) Co Ltd of China at Kardah, near here. According to Mr Umang Kejariwal, ... More

ALLIANCES & JOINT VENTURES


Pramati, Vergil forge strategic tie-up
VERGIL Technology and Pramati Technologies, the Hyderabad-based systems integrator and enterprise application solutions provider, have entered into a technology partnership to accelerate the deployment and management of J2EE (Java to Enterprise ... More

OUTLOOK


Pidilite hopes to bond with foreign markets
THE Rs 580-crore Pidilite Industries is expecting to double its export turnover to Rs 70 crore in the next two years. Targeting new markets in Europe and America, the company has decided to focus on exports as a thrust area. At a press ... More

Philips vows to make things better
WHO says 100-year-old habits die hard? The Amsterdam-based consumer electronics major, Philips, for one, is taking a hard look at its established ways and consciously redefining its focus. As its CEO, Mr Guy Demuynck, admits, the euro ... More

Usha Intl targets Rs 500-cr revenue
HOME appliances major Usha International Ltd plans to report a revenue close to Rs 500 crore in the current financial year, up 25 per cent from the approximate revenue of Rs 400 crore to be reported for 2001-02, its Managing Director, Mr Sunil ... More

PERFORMANCE


Tata Engg posts 10% rise in March sales
TATA Engineering has reported a 10 per cent rise in domestic sales to 23,481 vehicles during March 2002 against the same period the previous year, taking cumulative sales for 2001-2002 up by 9.3 per cent, to 171,436 units. Total sales of ... More

BHEL R&D unit gets aggressive on patents
THE Corporate Research & Development (R&D) division of Bharat Heavy Electricals Ltd (BHEL) has decided to step up its efforts to file patents on several developments aimed at protecting the in-house intellectual property. Addressing the annual ... More

Malabar Cements scales new heights
MALABAR Cements Ltd, a fully-owned Kerala Government undertaking, has registered a record performance for the year 2001-02 posting a net profit of Rs 8.54 crore on a turnover of Rs 117 crore. The company, which has been running on profits from ... More

ECIL is now debt-free; profit at Rs 60 crore
THE public sector Electronics Corporation of India Ltd (ECIL), which has set itself on a transformation path to meet the country's strategic technology needs, has posted a turnover of Rs 675 crore, with a net profit of Rs 60 crore for the ... More

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