Automobiles
M&M to cut output at Kandivali unit
MUMBAI: Mahindra & Mahindra (M&M) has informed the Bombay Stock Exchange that it would be curtailing production at its Kandivali tractor plant for three days during the week June 18-23.
Corporate
International Bestfoods, Aviance merger -- HLL shareholders' meet on June 22
THE board of directors of Hindustan Lever Ltd (HLL) has convened a meeting of its members on June 22 to consider and approve the proposed scheme of amalgamation among International Bestfoods Ltd (IBFL), Aviance Ltd and HLL.
More Reliance on oil, telecom
OIL, gas and telecom would be the ``main thrust areas'' for the Reliance group in the future, Mr Dhirubhai Ambani, Chairman Reliance Industries Ltd (RIL), told shareholders at the company's 27th annual general meeting (AGM) here on Friday.
Berger Paints unit awaits normalcy in Nepal -- Domestic business `sluggish'
JUST about a year ago, Berger Paints India Ltd had acquired in Nepal the paint business of Jenson & Nicholson. ``Those were the moments of glory; but after one year, we are having anxious moments'', says a company spokesman.
Siemens EGM okays buyback scheme
THE shareholders of Siemens Ltd on Friday approved the share buyback programme at an extraordinary general meeting here. The shares will be brought from the open market through the Bombay and the National stock exchanges at a price not exceeding Rs 250 p
er share for an aggregate amount not exceeding Rs 80 crore.
Bunka Orient India to expand operations
BUNKA Orient India, the Indian arm of Bunka Orient Corporation, Japan, proposes to expand its operations with an investment of Rs 15 crore in the current financial year.
Tata Engg to step up capital expenditure -- `Rights issue hinges on market condition'
TATA Engineering & Locomotive Company Ltd (Tata Engineering) which reported a Rs 500.34-crore loss on Thursday, today said it expects a capital expenditure of Rs 350-400 crore in 2001-2002, higher than last fiscal's Rs 104 crore.
Shree Rama China unit
CHENNAI: Shree Rama Multi-Tech Ltd has announced a plan to set up a joint venture in China. The company already has a liaison office there and is now seeking partners for the project.
FIs approve debt revamp plan for Rain Calcining
THE financial institutions and banks led by the Industrial Development Bank of India (IDBI) have sanctioned a significant debt restructuring package for Rain Calcining Ltd (RCL), the Hyderabad-based Rs 300-crore producer of calcined petroleum coke and po
wer.
Financial Performance
IOC turnover, net rise
INDIAN Oil Corporation Ltd (IOC), the country's only `Fortune-500' company, has registered a 20.38 per cent jump in turnover and 11.33 per cent increase in net profit for 2000-01.
Ramco Systems posts Rs 1.04 cr net
RAMCO Systems has recorded a net profit of Rs 1.04 crore on a net sales of Rs 120.23 crore for the year ended March 31, as compared to Rs 93.13 lakh on sales of Rs 116.11 crore in the previous year.
NLC net up 86%
CHENNAI: Neyveli Lignite Corporation has reported a turnover of Rs 2,199.03 crore and a net profit of Rs 728.10 crore for the 2000-01 fiscal.
Tata Infomedia: A drab show
TATA Infomedia (earlier known as Tata Donnelley) has turned in a lacklustre financial performance for the fourth quarter and year ended March 31, 2001.
Mutual Funds
Huge mop-up by SBI MF schemes
SBI Mutual Fund (SBIMF) has garnered over Rs 400 crore fresh subscriptions in its two schemes - Magnum Liquibond Fund (MLF) and Magnum Gilt Fund (MGF) in the first two months of the current financial year, SBIMF officials said.
PSU
Expansion of Rajmahal coal mine -- Coal India, Met-Chem may join hands again
THE prospects of revival of bilateral agreement between Coal India Ltd (CIL) and Met-Chem of Canada appear bright as the Canadian mining equipment manufacturer has agreed to amicably settle its past disputes with CIL over implementation of the 10.5-milli
on tonne (mt) Rajmahal opencast (OC) coal mine project.
