Automobiles
HM may make Mitsubishi Pajero at Chennai plant
HINDUSTAN Motors is considering the option of manufacturing Mitsubishi Pajero at its Chennai car plant, for which it has conducted a ``dip stick'' study, according to company officials.
TVS-Suzuki sells 75,684 vehicles in November
TVS-SUZUKI Ltd has sold 75,684 vehicles in November 2000, comprising of 31,837 motorcycles, 12,526 scooters and scooterettes, and 31,321 mopeds. The company has registered a growth of 17 per cent in motorcycles as compared to sales of 27,208 motorcycles
in November 1999.
Corporate
GR Cables suffers huge networth erosion
GR CABLES Ltd (GRCL), the Hyderabad-based Rs 73-crore ISO-9002 certified manufacturer of jelly-filled telecommunication cables, has registered an erosion of over 50 per cent in its networth for the year ended March 31, 2000.
BBUNL group cos default on statutory payment -- Centre seeks plan to settle huge dues
THE defaults in statutory payment obligations of seven ailing public sector units under the fold of Bharat Bhari Udyog Nigam Ltd (BBUNL) have mounted to Rs 128.56 crores with over 1,300 retired workers in these units having to go without their dues.
Rane (Madras) board okays stake sale in 2 jt ventures
THE board of directors of Rane (Madras) Ltd at its meeting on Monday, approved the sale of investments in joint venture companies to associate companies or financial institutions for an aggregate value of Rs 16 crore.
ICICI Econet picks up 25% stake in Mega Visa
ICICI ECONET has picked up a 25-per cent stake in Mega Visa Marketing and Solutions Ltd. ICICI Econet has invested around Rs 7 crore in the company. Mega Visa is in the business of marketing chemicals, especially imports for firms that deal with chemical
s.
JVSL revamp plan to hurt all stakeholders
IN an unusual financial restructuring model, Jindal Vijaynagar Steel Ltd plans to get all stakeholders ``to bear the pains of the overhaul''.
LG Polymers may defer plans for Dahej unit
LG Polymers India (LGPI), the wholly-owned subsidiary of the Korean major LG Chemicals, is likely to defer its proposal to set up a polymer unit in Dahej.
Keltron arm to sign MoU with DRDO
KELTRON Component Complex Ltd (KCCL), a subsidiary of the public sector Kerala State Electronics Development Corporation (Keltron), is set to sign a memorandum of understanding with the Defence Research and Development Organisation (DRDO) for production
of modern equipment for the physically disabled.
Emami group sees spurt in business -- Consultants' report on recast shortly
THE Emami group with diversified interests in personal and health care products, paper, retail outlets, stationery, plastics, hospitals, IT and real estate, is looking forward to a major surge in turnover in 2000-01.
WIMCO workers on strike
WORKERS at the WIMCO match factory have gone on a strike following a dispute over wage settlement, according to union sources.
Financial Performance
Hyundai PAT at Rs 59.34 cr
HYUNDAI Motor India Ltd, a wholly-owned subsidiary of Hyundai Motor Co. of Korea, has reported a profit after tax of Rs 59.34 crore on a turnover of Rs 2,313.79 crore in 1999-2000, according to a company press release.
PSU
Change of management for Reyrolle Burn directed
IIBI, the monitoring agency (MA), has been directed by the Board for Industrial and Financial Reconstruction (BIFR) to notify change of management of Reyrolle Burn Ltd (RBL), promoted by the Government of India (GoI).
HSCL salary dues rise to Rs 172 cr -- Employees to meet Minister
A DELEGATION of employees of Hindustan Steelworks Construction Ltd (HSCL) will shortly meet the Union Steel Minister, Mr B.K. Tripathy, to express their concern over the future of the loss-making public sector unit.
Pharmaceuticals
Ranbaxy's US arm gets FDA nod for four drugs
Ranbaxy Pharmaceuticals Inc, a wholly-owned subsidiary of Ranbaxy Laboratories Ltd, has received FDA approval for four anti-infective products in November. This brings the total number of approvals to eight ANDAs that have been awarded by the FDA to the
company in 2000.
Stocks
CSE in tie-up talks with Nasdaq
THE Calcutta Stock Exchange (CSE) today initiated discussions with the National Association Securities Dealers (Nasdaq) of the US on potential areas of co-operation.
Sugar
Bannari Amman Sugars plans major capacity expansion
THE Rs 220-crore Bannari Amman Sugars Ltd (BASL) is planning a major capacity hike of its sugar factories in Karnataka and Tamil Nadu, besides setting up co-generation plants at a total investment of over Rs 175 crore.
Textiles
EU flexibility quota is windfall for Tirupur units -- Nov knitwear exports up 30 pc
NOVEMBER has turned out to be an impressive month for Tirupur garment exporters, with the knitwear shipment registering a high of 384 lakh pieces. The value of these exports for the month too has peaked to $744 lakh. This is 30-per cent rise in volume an
d 33.3-per cent increase in dollar terms compared to the November 1999 export figures of 294 lakh pieces and $558 lakh.
