Automobiles
New-look Santro launched, price up by Rs 5,000
HYUNDAI Motor India Ltd (HMIL) has launched a new-look version of its popular small car - the Santro. The styling of the front grille, the headlamp cluster and the tail lamp cluster have been changed to offer a slight facelift to the car.
HM hopes to sell 3200 RTVs this fiscal
HINDUSTAN Motors Ltd (HM) is hopeful of selling a total of 3,200 multi-utility All-Road Trusted Vehicles (RTVs) during the current fiscal. While 3,000 of these vehicles - earlier christened Rural Transport Vehicles - are expected to be sold in the domest
ic market, the balance will be exported to neighbouring countries.
M&M plans to expand business portfolio
AT its upcoming AGM of July 31, Mahindra & Mahindra Ltd (M&M) proposes to seek shareholders' approval for expanding its business portfolio to include initiatives under biotechnology and a range of transport-related services.
Corporate
McDonald's India in a fix over franchisee fee to US parent
McDonald's India. Pvt. Ltd. (MIPL), the wholly-owned subsidiary of US-based fast food giant, McDonald's Corporation, is in a fix over paying franchisee fees to its US parent.
Energizer to expand battery range
ENERGIZER India Ltd, which has established its presence in the premium segment of the domestic battery market with technical collaborations with the Energizer International Inc. of Finland and Eveready Battery Co. Inc. of the US, has chalked out a plan t
o offer its consumers the entire range of batteries available in the domestic market. Till now, it had a presence only in the premium segment of alkaline batteries.
Chagallu distillery sale okayed
HYDERABAD: The Implementation Secretariat, the body constituted to privatise State-Level Public Enterprises (SLPEs) in Andhra Pradesh on Wednesday announced it has handed over the Chagallu distillery of the Nizam Sugars Ltd to the Jeypore Sugar Company.
Colgate board meet on July 18
MUMBAI: The board of directors of Colgate-Palmolive (India) Ltd will meet on July 18 to consider recommendation of a one-time special dividend, the company informed the Bombay Stock Exchange on Tuesday. -- Our Bureau
Seminar on business process improvement
GUWAHATI: Blow up Media Consultants organised a seminar on ``Latest Techniques in Business Process Improvement and Project Management for Applications in Industries'' here last week. It was sponsored by Mukesh Hyundai and attended by representatives of l
eading corporate and business establishments.
KGISL plans offshore engg design centre
KGISL, a division of the $150-million KG Group, is contemplating to kick-off an offshore engineering design centre soon.
TVS Logistics to expand services
TVS Logistics, which now concentrates only on providing third-party logistics for the automotive sector, hopes to offer its services to other industries too next year. It is also looking at starting overseas operations, to begin with in Sri Lanka.
ICRA-Naredco scheme for real estate developers
INVESTMENT Information and Credit Rating Agency Ltd (ICRA) and the National Real Estate Development Council (Naredco) have jointly launched a programme aimed at spreading awareness on the concept and benefits of grading of real estate developers and proj
ects in the country.
Financial Performance
Exide Industries Q1 net slides
EXIDE Industries has recorded a net profit of Rs 3.64 crore on gross sales of Rs 219.09 crore for the quarter ended June 30. Though gross sales showed an increase of 11.6 per cent from Rs 196.32 crore in the corresponding period the previous year, net pr
ofit declined from Rs 7.03 crore.
OIL posts highest ever PAT
GUWAHATI: Oil India Ltd (OIL) reported the highest ever profit after tax (PAT) of Rs 467.36 crore for the financial year 2000-01, registering an increase of 14.05 per cent over the previous year's PAT of Rs 409.79 crore. The profit before tax during 2000
-01 was Rs 601.36 crore.
Nalco PAT up
NATIONAL Aluminium Company Ltd (Nalco) has earned a net profit after tax (PAT) of Rs 43.95 crore during June 2001 against the target amount of Rs 34.62 crore.
Mutual Funds
New interest regime adds lustre to gilt funds
FAR away from the clamour over US-64 are gilt funds, a breed that is evolving fast, thanks to changes in the Government securities market, increase in returns and rise in assets under management. Or so preach mutual fund distribution and research agencie
s.
Paper/Packaging
Six cos keen to partner HPC in `de-inking' project
FIVE global companies and a leading domestic engineering outfit have evinced interest in joining hands with the State-owned Hindusthan Paper Corporation for setting up a greenfield `de-inking' waste-paper project, which is to be set up at Kochi.
Petroleum
CPCL mulls handing over desalination project to external agency
CHENNAI Petroleum Corporation Ltd (CPCL) is examining the option of handing over the large-scale sea water desalination plant at its Manali complex, to an external agency on a `build-own-operate' basis.
Pharmaceuticals
Ranbaxy looks at France, Mexico for overseas growth
RANBAXY Laboratories Ltd has identified France and Mexico as its potential future overseas markets.
Stocks
Stock lending resumes after SEBI approval
STOCK lending, perceived to be the root cause of the bear hammering during March-April this year, is back in the market. Stock Holding Corporation of India Ltd (SHCIL) resumed its securities lending business last week with the introduction of the rolling
settlement.
Textiles
Court liquidator may seal Raveendra Mills on July 13
COIMBATORE-based RAVEENDRA Mills, the sick textile unit which is facing the Madras High Court decree to put on sale the mill's properties to pay-off its creditors, is on the verge of being sealed by the official liquidator of the court.
