Automobiles
Benz plans launch of more models
MERCEDES BENZ plans to launch its M class vehicles which are undergoing testing at the AERI, Pune shortly.
Steering the road trusted vehicle for a turnaround... Hind Motor gearing for life after CNG
DOES one change a winning combination? Especially if it comes after a long wait for an automobile manufacturer that has been pounded the last few years by sleeker cars from its competitors' assembly lines? The answer would be `No'...or so one would imag
ine.
Ford launches new Ikon version
FORD India today launched Ford Ikon ZXi, the latest in its Ikon series.
Maruti's foray into used cars this fiscal
THE country's largest car manufacturer, Maruti Udyog Ltd, intends to enter the fast-emerging company-promoted second-hand car business this financial year, the company's Managing Director, Mr Jagdish Khattar, said today.
Leyland shelves engine unit hive off plan
THE country's second-largest truck maker - Ashok Leyland Ltd - has shelved its plan to hive off its engine manufacturing unit at Hosur into a joint venture with Italy's Iveco, the company's Managing Director, Mr R. Seshasayee, said today.
Banking and Finance
`Tata Fin will meet its financial obligations'
TATA Finance Ltd (TFL) has informed the BSE that its board - backed by its promoters, the Tata Group - will ensure that the company meets its financial obligations to its lenders and depositors.
Corporate
ITC, Bhadrachalam merger for diversification, growth
THE proposed merger between ITC and ITC Bhadrachalam is to be viewed in the backdrop of ITC's conscious effort to de-emphasise its tobacco business. Indeed, the robust cash flows of ITC allows the company the opportunity to add businesses to its portfoli
o and thus reduce the importance of the tobacco business.
Tata Power gets new Deputy MD
MUMBAI: Mr Firdose A. Vandrevala will join Tata Power as Deputy Managing Director (DMD) from November 1. Mr Vandrevala is now the DMD of Tata Steel.
Secondary aluminium makers allege cartelisation
THE All-India Aluminium Secondary Manufacturers & Dealers Association has alleged that the three primary producers of aluminium in the country have formed a cartel to maintain high prices.
British Borneo Oil sells HOEC stake to Jehan Energy
BRITISH Borneo Oil & Gas (Netherlands) BV has sold its holding in Hindustan Oil Exploration Company (HOEC) to the UK-based Jehan Energy Ltd.
FII limit hiked
FIIs can now purchase equity shares and convertible debentures up to 49 per cent of the paid-up capital of Crisil, Global Tele Systems Ltd, Reliance Industries Ltd and Reliance Petroleum Ltd through the primary and secondary markets.
Investsmart offers tips thru Investfest
INVESTSMART India Ltd, floated by IL&FS, has launched a nationwide `Debt Investment Festival'. Styled `Investfest', it is being held in 25 offices of Investsmart across the country in partnership with five mutual funds _ HDFC Mutual Fund, Standard Charte
red MF, Prudential ICICI MF, Franklin Templeton Investments and Sundaram MF, from September 3 to 16, including on week-ends.
Bombay Dyeing buyback offer opens today
BOMBAY Dyeing & Manufacturing Co Ltd has formally announced its open offer to buyback shares of the company. The offer opens on September 7, 2001 and closes on or before September 22, 2002.
Rama Newsprint to seek nod for pref allotment
RAMA Newsprint and Papers Ltd (RNPL) is to seek shareholders nod at the forthcoming annual general meeting (AGM) of the company on September 20 to allot equity shares amounting to Rs 37 crore to ICICI Ltd on a preferential basis.
Bajaj Electricals eyes Rs 1,000-cr turnover
BAJAJ Electricals Ltd (BEL), the Rs 386-crore electrical appliances major belonging to the Rs 6,000-crore Bajaj group, has chalked out a programme to achieve a turnover of Rs 1,000-crore in the next three years.
Delta Paper acquires two sugar factories
DELTA Paper Mill, based at Bhimavaram in West Godavari district, has acquired the Hanuman Co-operative Sugar Factory at Hanuman Junction in Krishna district and also the Palacole Co-operative Sugar Factory in West Godavari as a measure of backward int
egration. Bagasse produced by these factories would be useful to the paper mill.
Mutual Funds
ING Mutual proposes fixed-maturity plans
ING Mutual Fund has proposed to launch a clutch of fixed-duration plans, built within an open-ended scheme, with maturity of three months to 18 months.
