Automobiles
Bajaj Auto expects steep rise in mobike sales
BAJAJ Auto Ltd (BAL) does not foresee any major growth in overall scooter sales, but has targetted a steep rise in motorcycle volumes for 2001-2002.
Honda hopes to build on growth
DESPITE the economic slowdown, the sale of mid-size cars from the Honda stable has recorded a robust growth in the first quarter of the current fiscal in several parts of the South compared to the corresponding period last year, according to an executive
of Honda Siel Cars India Ltd.
GMI hopes to sell 10,000 Opels
GENERAL Motors India Pvt Ltd (GMI) is hopeful of selling 10,000 units of different Opel variants in the domestic market during the current calendar year.
Banking and Finance
IL&FS to cut exit load in Bond Fund
MUMBAI: IL&FS Mutual Fund has decided to waive exit load in IL&FS Bond Fund, an open-end income fund effective July 2. Thus the scheme is now available on ``no entry/exit load'' basis to all prospective investors.
Cement
Tarun Das non-committal on sustaining performance -- ACC shareholders rake up `takeover' issue
EVEN though the Associated Cement Companies (ACC) made a turnaround with a first quarter profit of Rs 44 crore, the Chairman, Mr Tarun Das, did not ``commit'' to sustaining the performance through the year.
Coal
CIL officers' assn protests dismantling -- `Will pave way for imported coal'
THE Coal India Officers' Association (CIOA), is up in arms against Coal India Ltd's (CIL) move to dismantle itself in line with the recommendations of the Expenditure Reforms Commission (ERC).
Corporate
Sesa Goa workers go on 72-hr strike
SESA Goa Ltd (SGL), which informed the BSE on Thursday of a 72-hour `illegal' strike by its employees since July 11, is believed to have suspended operations in two major mines.
Indo Rama to hike POY rates
INDO Rama Synthetics (I) Ltd (IRSL) is to hike the price of its 140/34 Partially Oriented Yarn (POY) by Rs 2 per kg from July 16 this year. The company had from July 1 increased the price of its 140/34 POY from Rs 56 per kg to Rs 58 per kg.
Managing tie-ups `key to growth'
WHILE strategic alliances are vital for growth in the global market-place, managing them is a challenge and will continue to be a matter of complexity for alliance partners, according to Prof Harbir Singh, Chairperson, Department of Management at the Wha
rton School.
`Made in India' show in S Africa from July 18
IN order to further strengthen the trade ties between India and South Africa, the `Made in India' show is being organised in Johannesburg between July 18-21.
Blue Star revamps operations; to focus on exports
BLUE Star Ltd today said it is reorganising the airconditioning and commercial refrigeration operations with an increased focus on exports.
Hindalco to look for profitable expansion
HINDALCO Industries Ltd, having chalked out a three-pronged strategy, is expected to continue focus primarily on aluminium and thereby pursue growth opportunities by way of expansions and acquisitions.
Fuchs to acquire new blending plant
FUCHS Lubricants (India) Ltd plans to acquire a new blending plant in India over the next six months, according to Mr Michael Behar, Executive Vice President (Asia-Pacific).
Gestetner launches digital copiers
GESTETNER India Limited (GIL), a wholly-owned subsidiary of the UK-based documentation major, Gestetner Plc, has launched a series of digital copiers, priced almost on par with analog copiers.
BHEL to source 195 MW thermal plant
NEW DELHI: Bharat Heavy Electricals Limited (BHEL) has bagged a contract to set up a unit of the 195 MW Kota Thermal power station in Rajasthan.
Electronics
IEEMA seeks rationalisation of customs duty
THE Indian Electrical and Electronics Manufacturers' Association (IEEMA) has urged the Government to rationalise the customs duty on metals.
Financial Performance
Pokarna Granites Q1 net profit up at Rs 2.32 cr
POKARNA Granites Ltd has posted a sales turnover of Rs 15.63 crore and net profit of Rs 2.32 crore during the first quarter of the current fiscal.
PSU
BIFR gives Keltron Rectifiers, Kerala Govt a `final' chance
KELTRON Rectifiers Ltd (KRL) and the Kerala Government have been granted a ``last and final'' chance for revival of KRL by the Board for Industrial and Financial Reconstruction (BIFR).
ONGC draws up 20-yr strategy
NEW DELHI: THE Oil and Natural Gas Corporation (ONGC) has formulated an exploration strategy for the next 20 years, with the twin objectives of doubling the reserve base to 12 billion tonnes oil (BtOE) equivalent besides raising the global recovery facto
r to 40 per cent or more.
Petroleum
GSPC production sharing contracts for 3 blocks soon -- Mulls foray into coal bed methane
THE Gujarat State Petroleum Corporation (GSPC) will be signing the production sharing contracts (PSCs) for three blocks under NELP-2 on July 17.
Pharmaceuticals
Tribunal upholds SEBI order in Alpha Drugs case
THE Securities Appellate Tribunal (SAT) has upheld a SEBI order in the case of Alpha Drugs India Ltd (ADIL) granting exemption from certain provisions of the Takeover Regulations, but with a rap on the knuckles for a reply filed by it.
Power
Energy consumption `draining resources'
INDIAN industries can become globally competitive if they are able to cut down their energy consumption, according to Dr E.A.S. Sarma, Principal of the Administrative Staff College of India.
