Automobiles
Royal Enfield pins hopes on new launches
ROYAL Enfield Motors, manufacturer of the Bullet brand of motorcycles, is aggressively planning to grow the power bike segment of the market by expanding its portfolio offering.
Tatra to invest Rs 105 cr to ramp up production, marketing
TATRA Udyog Ltd (TUL), the Bangalore-based company manufacturing heavy-duty commercial vehicles, has proposed to inject an additional equity of Rs 105 crore in phases to ramp up its operations in manufacturing, marketing and after sales service. TUL will
invest 50 per cent of the amount with its joint venture partner contributing an equal share.
Maruti may rename Every as Varsha
MARUTI Udyog Ltd may launch its partner Suzuki Motor Corporation's `Every' utility vehicle later this year in a different brand name, company sources said today.
Coal
CIL not to go in for retrenchment
STATE-OWNED Coal India Ltd (CIL) has decided not to retrench any worker even in the event of closing a mine or suspending operations, as directed by the new Union Mines and Coal Minister, Mr Ram Vilas Paswan.
Corporate
Court clears HLL, Int'l Bestfoods, Aviance merger
HINDUSTAN Lever Ltd (HLL) has informed the Bombay Stock Exchange that the High Court of Mumbai has approved the amalgamation scheme of International Bestfoods Ltd (IBFL) and Aviance Ltd with the company.
Restraint order on Incab sought
A suit has been filed in the Calcutta High Court against the Board for Industrial and Financial Reconstruction (BIFR) by Mr Satya Prokash Arya, claiming to be the Chairman and Managing Director of Incab Industries Ltd (Incab).
Draft revival scheme for Pennar Profiles circulated
THE Board for Industrial and Financial Reconstruction (BIFR) has circulated a draft rehabilitation scheme (DRS) for Pennar Profiles Ltd (PPL).
Uppal back at ABB
THE board of directors of Asea Brown Boveri Ltd, India (ABB), has appointed Mr Ravi Uppal as the Managing Director and Country Manager (for India) with effect from mid-October.
Prospective buyers for patented products -- IICB upbeat on cos' response
THE Indian Institute of Chemical Biology (IICB), the country's oldest R&D centre for biotechnology, has sought (through advertisements) prospective buyers for 25 of its patented biotech products, processes and designs.
Sujana Ind, Steels plan Rs 40-cr capital issue
SUJANA Steels Ltd (SSL) and Sujana Industries Ltd (SIL), belonging to the Hyderabad-based Sujana group, are planning to raise funds to the tune of Rs 40 crore to part-finance their normal capital expenditure programmes and also to meet long-term working
capital requirements.
Engineering
EIL set to tap W. Asian markets
ENGINEERS India Ltd (EIL) has made a strong push into the Gulf and West Asian markets with the opening of offices in Abu Dhabi in the UAE in July and in Qatar, and has plans to open an office in Saudi Arabia, with a view to tapping new engineering projec
ts in the growth sectors of oil, natural gas and the petrochemical industry.
Hotels
Taj GVK plans health resort in Hyderabad
TAJ GVK Hotels & Resorts Ltd, the Rs 54-crore joint venture company between the GVK group and Tatas, which is currently operating three five-star hotels in Hyderabad, has drawn up plans to take up a major diversification.
CEO of Taj group hotels division
MUMBAI: Mr Shashank P. Warty has taken charge as the Chief Operating Officer, Business Hotels Division of the Taj group. -- Our Bureau
Infrastructure
HPCL, GAIL pact for LPG pipeline
HINDUSTAN Petroleum Corporation Ltd (HPCL) and Gas Authority of India Ltd (GAIL) have signed a `transport service agreement' (TSA) for transportation of LPG through the Vizag-Secundrabad pipeline. The Rs 500-crore pipeline project is expected to be wrapp
ed up by September 2003.
Mutual Funds
Zurich MF plans to sell debt products thru NSE
ZURICH India Mutual Fund, driven by the market's current fling with debt funds, has proposed the use of the National Stock Exchange network to sell its debt products.
PSU
Awards for BHEL employees
NEW DELHI: Among all the public and private sector companies in the country, employees of Bharat Heavy Electricals Ltd (BHEL) have won the maximum number of Vishwakarma Rashtriya Puraskar awards, according to a press release.
