Financial Daily
from THE HINDU group of publications

Monday, July 16, 2001





Delphi gets FIPB nod to expand product range
DELPHI Automotive Systems Pvt Ltd., the wholly-owned subsidiary of the US-based Delphi Automotive Systems (Holdings) Inc and having technical collaboration with Sankei Giken Kogya Co Ltd of Japan, has received the approval of the Foreign Investment Promo tion Board (FIPB) to expand its product range through contract manufacturing under its own brand name and adopt procedures such as high sea sales for original equipment manufacturers (OEM) and bonded warehouse sales for its products.

BIFR to review Pitti Laminations' sickness case
THE Board for Industrial and Financial Reconstruction (BIFR) would be considering afresh the case of Pitti Laminations Ltd (PLL), a Hyderabad-based ailing company engaged in the manufacture of electrical stampings and laminations die cast rotors.

LG Electronics to focus on IT, telecom
LG Electronics India Ltd has identified the IT and telecom products business as a major growth area. Revenue from the sale of IT and telecom products is expected to touch Rs 400 crore in the year ending December 31, 2001, up from Rs 200 crore recorded la st year.

Mutual Funds
`Reliance, Infy top MF charts in June'
RELIANCE Industries continues to be the favourite pick for mutual funds, with Infosys bringing up the rear and Dr Reddy's Labs emerging as a surprise scorer. This has been outlined by the city-based distributor SKP Securities in a review of portfolios of select open-ended equity funds for June.

RIL delivers plastic houses in Bhuj
THE Reliance group today handed over a 5,000 sq.ft office block to the Gujarat Government in Bhuj on Sunday. According to a company release here, the business house is planning to deliver another 19 such blocks totalling 95,000 sq.ft by August.

BIFR for show-cause to wind up Midwest Iron
THE Board for Industrial and Financial Reconstruction (BIFR) has directed for issuance of a show-cause notice (SCN) for winding up Midwest Iron & Steel Co. Ltd (MISCL).

Travel & Places
Club Mahindra repositions product
AFTER timeshare companies went bust, Club Mahindra has had to reposition its product on two platforms. First to regain credibility and then to make it a product that people aspire to buy.

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