Automobiles
HM launches `My Lancer' concept in Bangalore
MITSUBISHI Lancer, the midsize premium car from the Hindustan Motors (HM), has notched a market share of 48 per cent in Bangalore, four per cent higher than its national average.
Corporate
Sical to benefit from demerger
SOUTH India Corporation (Agencies) Ltd (Sical), part of the Chennai-based M.A. Chidambaram group, has been in the news recently for demerging some of its divisions. These divisions are actually businesses acquired through a series of intra-group mergers
a few years ago.
Blaupunkt to launch new products in India
MICO's mobile audio division -- Blaupunkt -- is all set to launch several new products in India in the next couple of months.
L&T optimistic of realigning debt-equity ratio post-demerger
IN engineering and construction, the Rs 8,035 crore-Larsen & Toubro Ltd (L&T), has undisputed leadership in the domestic market. Besides serving as a barometer of core sector economic health, courtesy its presence in infrastructure projects, L&T has been
in the news for demerger plans at its huge cement business.
BIFR confirms Genelec wind-up
THE Board for Industrial and Financial Reconstruction (BIFR) has confirmed its prima-facie opinion of winding up the ailing Genelec Ltd.
Indal may shut Alupuram plant
IT now appears almost certain that Indian Aluminium Company Ltd (Indal), an Aditya Birla group company, may soon close down its smelter at Alupuram in Kerala because the management feels that it will be highly uneconomical to run a smelter utilising ``co
stly'' power purchased from the Kerala State Electricity Board (KSEB) at Rs 2.84 per unit.
Siscol defaults on debentures
SOUTHERN Iron and Steel Company Ltd (Siscol) has defaulted in redeeming the second instalment on its debentures along with interest thereon. This follows the company's decision to shut down its plant in December 2000 for want of working capital.
Financial Performance
Oriental Hotels net profit drops by 58 per cent
ORIENTAL Hotels Ltd has reported a drop of over 58 per cent in profit after tax and after prior period adjustments to Rs 1.81 crore for the quarter ended June 30 as against the profit after tax and after prior period adjustments of Rs 4.36 crore for the
corresponding period in the previous year.
HCL Tech net income up 101%
HCL TECHNOLOGIES has announced a 101 per cent jump in its net income at Rs 488 crore for the year ended June 30 over the previous year, but forecast a lower growth at 25 per cent for the current year.
Gufic Biosciences net profit at Rs 53.66 lakh
MUMBAI: Gufic Biosciences Ltd has reported an increase in net profit at Rs 53.66 lakh in the quarter ended June, 30, as against Rs 16.12 lakh in the corresponding period last year.
Petroleum
Kochi Refineries completes LPG enhancement project
KOCHI Refineries Ltd has completed its LPG enhancement project. The project envisages additional production of LPG and prevention of LPG loss.
Kuwait Petro resumes talks for MRPL stake
KUWAIT Petroleum Corporation (KPC) has re-opened talks with the A.V. Birla group for acquiring part of the company's 37 per cent stake in Mangalore Refineries and Petrochemicals Ltd (MRPL). According to sources, KPC officials recently met senior A.V. Bir
la group officials in this regard.
Textiles
Dunbar Mills handed over to Capricorns
THE 103-year old Dunbar Mills Ltd, which has been closed from May 1987, and which has been issued an order of liquidation, has been finally handed over to Capricorns (Enterprise) Pvt Ltd promoted by Dr D.P. Sarkhel, a former public sector executive-turne
d-entrepreneur.
