Financial Daily
from THE HINDU group of publications

Saturday, July 07, 2001






HM launches CNG variant of Amby
HINDUSTAN Motors Ltd (HM) has launched a new model of its old workhorse the Ambassador Classic, targeted primarily at the taxi market in Delhi and Mumbai.

Cement production down in June
NEW DELHI: Large units in the domestic cement industry have recorded an output of 8.79 million tonnes (mt) in June. They had recorded a production level of 8.88 mt in May.

Panacea to step up spending on R&D
PANACEA Biotec Ltd (PBL) is planning to scale up investments in research and development, as a prelude to its work on the genome project, besides bolstering its existing research to develop a recombinant vaccine for HIV.

FAG Bearings plans to move into roler tapers
THE Baroda-based FAG Bearings India Ltd proposes to diversify into roller taper bearings. If the company decides to set up a greenfield plant for the manufacturing this type of bearings, it would have to invest at least Rs 50 crore, Mr John Varghese, Gen eral Manager (Marketing) of the company, has said here.

Godrej Ind plans to invest in UK co
GODREJ Industries Ltd, formerly Godrej Soaps Ltd, has announced plans to invest up to Rs 1 crore in the UK-based Compass Connections Ltd.

Indo Rama revises prices
NEW DELHI: Indo Rama Synthetics (I) Ltd has announced a revision of its product prices effective July 1. Keeping in view the recent surge in domestic demand, the company has increased the prices of most of its product lines.

Timeshare companies: Boom, bust & boom?
THAT holidays have become an important part of a person's agenda is fact of life. And naturally, timeshare companies are the gainers as more and more people seek an outlet from today's high-pressure life style.

CII bid to promote `green buildings'
THE Confederation of Indian Industry (CII) wants to use the Green Building Congress, to be held between August 30 and September 2, as a platform for launching changes that will end in greening the Indian construction industry.

Financial Performance
Priyadarshini Cement nets Rs 4.49 cr
HYDERABAD: Priyadarshini Cement Ltd has posted a turnover of Rs 60.28 crore and a net profit of Rs 4.49 crores during the fourth quarter of last fiscal as against a turnover of Rs 42.71 crores and a net loss of Rs 3.01 crores during the corresponding per iod in the previous year.

Nalco to pay 40%
New Delhi: The board of directors of National Aluminium Company Ltd has declared a 40 per cent dividend for 2000-01.

Information Technology
Pentasoft pact with Chinese varsity
CHENNAI: Pentasoft Technologies Ltd has signed an agreement with the Macau University of Science and Technology, China, to provide IT training to mainstream students in and around Taiwan, Hong Kong and Mainland China and to undertake projects related to research and development in information technology.

Mutual Funds
`Decision on US-64 was based on sound factors'
THE decision to suspend sales of the popular US-64 scheme was based on sound calculations. It was aimed at safeguarding the interests of small investors who were misleadingly sought to be projected as victims of the move, according to a key source privy to the decision.

Nalco divestment likely after expansion is over
NATIONAL Aluminium Company Ltd (Nalco), which is slated for disinvestment this fiscal, is on a major expansion drive involving an investment of Rs 4,350 crore to be completed in phases by May 2002.

New gas block named Annapoorna
Our Delhi Bureau reports: The Union Petroleum Minister, Mr Ram Naik, has christened the new gas discovery made by Cairn Energy in the Krishna Godavari deepwater block as Annapurna. The well flowed gas at a combined stabilised rate of more than 2.3 millio n standard cubic metres per day.

We do not agree with ASCI view, says CESC
THE comments made by the consultancy wing of the Administrative Staff College of India (ASCI) on the performance of the RPG-controlled power utility, CESC Ltd, has not found favour with the company's top brass.

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