Automobiles
Indica sales zoom 127 per cent
TATA Engineering's Indica sold 5,325 units in October 2001, an increase of 127 per cent over the 2,345 units it sold in October 2000, a company spokesperson said here today.
Cement
Orient Cement gets quality award
NEW DELHI: Orient Cement, a unit of Orient Paper Industries Ltd, has received the `TPM Excellence Award' from the Japan Institute of Plant Maintenance (JIPM).
Coal
`Coal mine closures won't hit jobs'
Mr.Ram Vilas Paswan, the Union coal and mines mininter, today reiterated that no worker in the state owned coal companies would be retrenched even if some uneconomic coal mines were closed down. The affected workers and employees would either be offered
VRS or would be deployed in profit-making units.
Consumer Electronics
BPL hopes to retire Rs 200-cr debts
THE consumer electronics giant, BPL Ltd, is likely to retire Rs 200 crore high costs debts in the near future. The company's total debt is estimated around Rs 752 crore.
LG spots Chennai, Nasik for contract manufacture
THE Rs 1,782-crore LG Electronics, which claims to have bucked the recessionary trend plaguing the consumer electronics industry, has zeroed in on Chennai and Nasik to initiate contract manufacturing, with the objective of supplementing its capacity at G
reater Noida (on the outskirts of Delhi).
Corporate
`Reliance on logistics has made Sical recession-proof'
SOUTH India Corporation (Agencies) Ltd (Sical) is one of the few companies whose business is not affected too much by globalisation. The reason is, the company is predominantly into logistics services, and as the officials say, goods will have to be move
d around the country, globalisation or no globalisation. Thus, the current recession presents Sical with a different set of challenges and prospects.
More cos fail to file returns
THE number of companies that did not file annual returns during 1999-2000 were 2,20,370. There were 1,87,770 companies that did not file their annual returns in 1998-99.
Bonus season sans fireworks
FESTIVAL bonus, once considered a deferred wage by the managements, and eagerly looked forward to by the employees during the year-end, is no longer an important issue for them, according to union representatives and some managements.
Bharat Opthalmic finds a suitor in UK-based NRI
A UK-based NRI has shown an interest in Bharat Opthalmic Glass Ltd (BOGL), the only company of its kind in the country which makes strategic items for the Bhabha Atomic Research Centre and various defence establishments.
Morzaria exit has no links with Q3 loss: Bata
BATA India Ltd, in a clarificatory statement issued here on Tuesday, stated that Mr Chandu Morzaria's resignation as managing director of the company had no connection whatsoever with the company's losses for the third quarter.
Malaysian co takes 10 pc in Feedback
MALAYSIAN infrastructure firm Westport Tuesday announced taking of 10 per cent equity stake in New Delhi-based Feedback Ventures group, a specialist in providing infrastructure sector solutions.
Financial Performance
Jupiter Bioscience Q2 sales, net up
JUPITER Bioscience Ltd (JBL) has reported a growth both in turnover and net profit for the second quarter of current fiscal year ended September 30, 2001.
Radico Khaitan net rises to Rs 10.91 crore
RADICO Khaitan Ltd has reported a 59 per cent growth in its net profit in the first three quarters of 2001.
Pharmaceuticals
Morepen, US firm form joint venture company
MOREPEN Laboratories today announced the setting up of a joint venture company with a US firm, DrugMax Inc, to tap the $50-billion generic market.
Sub-brands under Dr Morepen
DELHI-BASED Morepen Laboratories is planning to launch around 20 sub-brands under the umbrella brand, `Dr Morepen', its over-the-counter (OTC) venture, in the next three years.
Aurobindo Pharma launches two anti-AIDS drugs
AUROBINDO Pharma Ltd (APL), the city-based pharmaceutical major, has announced the launch of two fixed dose combinations of antiretrovirals for the HIV treatment -- Stavex-Ln and Stavex-L.
Radio/TV
CII sees big growth in entertainment sector
THE Indian entertainment industry has the potential to grow by 27 per cent in the next five years, with music and radio having the highest potential of growth of 55 per cent, according to a preliminary report prepared by the Confederation of Indian Indus
try.
Steel
KISCO flag-off on November 10
KUDREMUKH Iron and Steel Company (KISCO), a joint venture project of Kudremukh Iron Ore Company Ltd (KIOCL) along with MECON and MSTC, is to be dedicated to the nation on November 10.
SAIL talking to workers on Salem Steel divestment
STEEL Authority of India Ltd (SAIL) has taken up a communication exercise with workers at the Salem Steel Plant (SSP) to convince them that identifying a joint venture partner is essential for the units survival.
Sugar
Thiru Arooran hit by raw material paucity
RAW material shortage and Government policies have affected the operations of Thiru Arooran Sugars Ltd (TASL) and its subsidiary, Terra Energy Ltd (TEL), which operates TASL's co-generation facilities.
