Financial Daily from THE HINDU group of publications
Tuesday, October 22, 2002
Markets (Oct. 21)
BL 2501041.50 (-3.18)
BSE Sensex2998.01 (-11.75)
S&P CNX Nifty967.35 (-4.40)
Dollar (Buy/Sell)48.31/48.44
Gold Std (10 gm)5170 (+20)

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ANNOUNCEMENTS


BHEL bags contract from PowerGrid
BHARAT Heavy Electricals Ltd (BHEL) has bagged Rs 25-crore contract from PowerGrid Corporation of India Ltd (PGCIL) to set up a 400-kv grid sub-station at Baripada in Orissa. According to an official release, the sub-station will be associated ... More

Satyam Q2 results on Oct 23
HYDERABAD: Satyam Computer Services Ltd will announce both Indian GAAP and US GAAP results for the quarter ended September 30 on October 23. After the release, Kotak Securities will host two conference calls where the Satyam Chairman, ... More

COURTS/LEGAL ISSUES


Will green concerns seal Kudremukh mines? SC panel for 5-year lease extension
KUDREMUKH Iron Ore Company Ltd (KIOCL) is facing the risk of premature closure in July 2004 following the public interest litigations initiated by environment protection groups and non-Governmental organisations (NGOs). This is because the ... More

Estranged bedfellows
POLITICS, as anybody will tell you, makes for strange bedfellows. But what about estranged bedfellows? Well, they make for considerable discomfiture. Ask Ernst & Young. One of the Final Four accounting majors, it is a very, very privately ... More

MERGERS & ACQUISITIONS


VSNL allowed to invest Rs 835 cr in Tata Tele
THE committee set up to look into the modalities of VSNL's controversial investment in Tata Teleservices has decided that VSNL will invest Rs 835.8 crore in TTSL, at par and over a 7-year period, for a 19.9 per cent stake. The much-awaited ... More

NEW PROJECTS


Nirmal Agro setting up canned pineapple plant
THE Kochi-based Nirmal Agro Industries (India) Ltd is setting up a 100 per cent export-oriented canned pineapple processing plant at the Kinfra Export Promotion Industrial Park at Kakkanad at an investment of Rs 32 crore. The foundation stone ... More

Escorts Heart centre at Jodhpur
NEW DELHI: Escorts Heart Institute & Research Centre (EHIRC) has launched a heart centre at Jodhpur's Goyal Hospital and Research Centre. A super-speciality cardiac centre, it will provide specialised cardiac care in the form of ... More

OUTLOOK


Madura sees robust growth for suits
THE readymade suits segment is expected to grow at a rate of 30 per cent, according to Mr Vasanth Kumar, Vice-President, Marketing, Madura Garments. Speaking at a launch conference here for Madura's new range of shirts, trousers and suits, Mr ... More

GM targets India as key market
GENERAL Motors (GM), the world's largest passenger car manufacturer, has identified India (along with China, and Brazil among other countries) as one of the five key markets for growth for the company. In an interview with Business ... More

Synthite Chemicals set to post Rs 20-cr net
THE Kochi-based Synthite Industrial Chemicals Ltd, a pioneer in the spices oil and oleoresin industry in the country, is expected to clock a turnover of little over Rs 200 crore and a profit of around Rs 20 crore during the current ... More

Electronic Data bullish on PLM solutions
BACKED by a strong demand for its product lifecycle management (PLM) solutions from the automobile, industrial machinery and the defence sector, Electronic Data Systems (EDS) expects its PLM business in India to grow at over 20 per cent for the ... More

PERFORMANCE


TVS Motors: Cost reduction, royalty savings versus marketing, R&D spends
THE financial results of TVS Motor Company for the first half of the current year are largely an outcome of a turnover-led growth. But the `match' between cost reductions on the one side and marketing and R&D spends on the other, have played a ... More

Maruti loses 8 pc of market pie in 6 months
EVEN as the passenger car market is showing signs of acceleration, it seems to be deceleration time at Maruti Udyog Ltd. The overall passenger car industry grew by 4.1 per cent in the first half of this fiscal ended September 30, but Maruti has ... More

VSNL may look beyond ILD
THE earnings performance of Videsh Sanchar Nigam (VSNL) for the second quarter ended September 30, 2002 reflects a further deterioration in its financial position vis--vis the corresponding period of the previous year and on a sequential basis. ... More

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