Automobiles
Cars, motorcycles buck poor automobile export trend
AUTOMOBILE exports from the country in the first four months of the current financial year presented a dismal picture of steep falls, but passenger car exports grew 94 per cent on the back of a robust export performance by Ford India, latest industry dat
a shows.
Daewoo bets on cost-cutting measures to stay on course
WITH the future of its financially beleaguered parent still undecided, Daewoo Motors India Ltd (DMIL), the majority-owned subsidiary of the Korean automobile major Daewoo Motors, is faced with the onerous task of retaining its identity and shaking off th
e image of a company which is faced with an imminent financial crisis.
Daewoo to ride on new Matiz models from Sept
DAEWOO Motors India Ltd (DMIL) is launching new variants of the Matiz next month. The new variants of the small car Matiz are expected to feature exterior and interior changes, with only a marginal increase in price.
Corporate
GE to assemble turbo chargers
US POWER major General Electric Company has drawn up plans to expand its activities in the Indian power sector. To start with, it has decided to commence assembling operations in the country.
Goenkas to sell Herdilla stake for Rs 11-cr cash
THE Rs 2,500-crore G.P. Goenka group is selling its controlling stake in the group's petrochemical company, Herdilla Chemicals Ltd, to the US-based Schenectady International Inc (SII) in an `all cash' deal.
`Mismanagement and siphoning of funds' -- Joonktollee moves CLB against Cochin Malabar promoter
JOONKTOLLEE Tea and Industries Ltd of the Bangurs has moved the Company Law Board (CLB) against Mr Jimmy Gazdar, the current promoter of Cochin Malabar Estates and Industries, alleging ``mismanagement and siphoning of funds''.
Rallis pins hopes on good monsoon, better prices
RALLIS India Ltd (Rallis) expects the domestic market for pesticides to grow in 2001-2002, courtesy hopes of a good monsoon, higher output and better agri-produce prices.
Srei launches equipment bank -- Inks deal for $10-m IFC investment
SREI International Finance Ltd (Srei) has launched the country's first equipment bank in the name of `QUIPO' (equipment order posted), for creating within the country an accessible pool of world-class equipment.
ACC to bring down stake in mining jt venture to 25 pc
CEMENT major ACC plans to bring down its stake in its mining joint venture, ACC Rio Tinto Explorations Ltd, to 25 per cent. Currently, it holds a 37.5 per cent stake in this joint venture with British mining giant Rio Tinto Plc.
Joins Crisil as Advisor
MUMBAI: Mr K.R. Ramamoorthy, Chairman of Vysya Bank, has joined credit rating agency Crisil as Advisor, Banking and Finance.
Funds crunch, lack of orders -- Textool seeks to retrench staff
CAN growing financial incapacity and lack of work orders form a firm ground for a company to get Government approval to retrench workers?
Tide Water Oil to launch new campaign for `Veedol'
TIDE Water Oil Co (India) Ltd, a member of the Andrew Yule group, has initiated a new brand-building exercise to promote the `Veedol' brand of lubricants in a big way.
Financial Performance
Radico Khaitan net at Rs 7.96 crore
NEW DELHI: Radico Khaitan Ltd has declared a 61 per cent growth in net profit for the half-year ended June 2001.
Food & Dairy Products
Hatsun, Ajith Dairy shareholders to consider merger
SHAREHOLDERS of Hatsun Agro Products Ltd (HAPL) and Ajith Dairy Industries Ltd (ADIL) will consider the merger of ADIL with HAPL at separate meetings on September 8 in Chennai, as ordered by the High Court of Madras, according to the notices convening th
e meetings.
Hotels
EIH plans Rs 1,000-cr investment in 3 years
EIH Ltd, belonging to the Oberoi group of hotels, plans to invest close to Rs 1,000 crore in three years on on-going and future hotel projects.
Mutual Funds
Pru ICICI plans index-based funds
IN the coming months, Prudential ICICI Mutual Fund is exploring the possibility of launching two index funds, one based on the Nifty and the other on the Sensex.
Gulf NRIs hoping for early revival on US-64
GULF NRI investors in Unit Trust of India's (UTI) major fund US-64 are hoping for an early turnaround with regard to the scheme and are calling for greater transparency, while UTI officials state that there has been no rush by Gulf investors to redeem un
its.
Petroleum
HPCL to run more retail outlets
HINDUSTAN Petroleum Corporation Ltd (HPCL) plans to raise the number of its company-controlled retail outlets (ROs) to over 70 per cent by the end of this fiscal.
Pharmaceuticals
Cadila plans foray into Australia, New Zealand markets
CADILA Pharmaceuticals Ltd (CPL), with the Australian Therapeutic Goods Administration (TGA) approval for its beta lactam formulations plant under its belt, is eyeing an entry into the Australian and New Zealand markets.
Stocks
JPC identifies scam hotspots on CSE
THE Calcutta Stock Exchange governing committee is yet to take a firm view of the alleged involvement of certain former broker-directors in three scam hotspots -- abusive trade/unofficial badla deals, presence of bug in the gross exposure margin module,
and suppression of fact regarding dishonour of margin cheques.
