Automobiles
GM, Automartindia tie up for used car business
GENERAL Motors India (GM) and Automartindia, leaders in used car business, have joined hands to promote buying and selling of used cars at all GM outlets.
Mondeo launch this year
FORD India Ltd's immediate focus is to maintain Ikon's position and launch Mondeo during the year, Mr David Friedman, President and Managing Director of the company said.
Maruti VRS finds 550 takers so far
THE first-ever voluntary retirement scheme of Maruti Udyog Ltd has already found 550 takers since its September 24 opening, lawyers said quoting a company statement to a civil court on Thursday.
Corporate
Nilkamal ties up with US co
THE City-based Nilkamal Plastics today announced a joint venture with Alcoa Closure Systems International (Alcoa CSI) of the US to produce plastic closures.
Cooper Bussmann to invest Rs 10 cr for capacity hike
COOPER Bussmann India Pvt Ltd expects a four-fold increase in its operations. The company plans to invest Rs 10 crore in capacity expansion over the next two years and is confident of exporting Rs 50 crore per year from 2003-04, Mr Martin Mullin, Operati
ons Director, Cooper (UK) Ltd, who is in-charge of India operations, told a news conference in Chennai on Thursday.
HLL bonus plan boosts Vashisti scrip volumes
THE scrip of Vashisti Detergents Ltd (VDL), an associate company of FMCG major Hindustan Lever Ltd, has been witnessing huge trading volumes in the past three trading sessions since HLL announced proposal to issue bonus debentures. However there has hard
ly been increase in the VDL stock price.
Richard Rushton replaces Bagattini in SAB India
THE $4.2-billion South African Breweries (SAB) has changed its top guard in India. Mr Roy Bagattini, Managing Director of SAB India Ltd, is being replaced by Mr Richard Rushton, who currently heads the brewery major's Botswana operations.
HDFC raises stake in HOEC
MUMBAI: Housing Development Finance Corporation Ltd now holds 10.7 per cent of the paid-up capital of Hindustan Oil Exploration Company, having acquired additional equity in the company from British Borneo Oil & Gas (Netherlands) B V.
Delay in land acquisition puts Hindalco project in trouble
THERE is some uncertainty over early implementation of Hindalco Industries Ltd's proposed greenfield integrated aluminium project in Orissa in view of land acquisition problems. The Rs 11,000-crore project has plans to set up a 660 MW capacity captive po
wer plant, a 1.5 million tonne (mt) capacity alumina refinery and a 3,00,000 tonne capacity aluminium smelter.
SKF to focus on maintenance
SKF, the bearings manufacturer, is promoting the concept of proper servicing and maintenance of bearings so that companies are able to bring down machine downtime.
Financial Performance
Ranbaxy net up 68 per cent
RANBAXY Laboratories Ltd (RLL) has recorded a sales of Rs 538.3 crore for the third quarter ended September 30, 2001, a rise of 16 per cent from Rs 464.1 crore registered in the same period in the previous year.
Pharmaceuticals
Ranbaxy: Market reaction misplaced
RANBAXY Laboratories' third quarter result (June-September 2001) was below the equity market's expectations and consequently, the company's share price crashed by over 3 per cent to Rs 654.10 on Thursday.
Radio/TV
B4U Television plans IPO next year
In a bid to raise funds, B4U Television Network is planning to go in for an initial public offering (IPO) in the third quarter of 2002, Mr Ravi Gupta, CEO, B4U Worldwide, said.
Steel
SAIL proposal to revive IISCO with Finance Ministry
THE Union Steel Ministry has forwarded to the Union Finance Ministry a fresh proposal from Steel Authority of India Ltd aimed at reviving the sick Indian Iron & Steel Company Ltd (IISCO).
