Automobiles
Tata Engineering CV sales begin to look up
FOR the first time in several months, the domestic market leader in commercial vehicles (CVs), Tata Engineering, has reported a rise in CV sales.
Chemicals
Chemexcil to organise Chem Expo 2002 in Mumbai
THE Basic Chemicals, Pharmaceuticals & Cosmetics Export Promotion Council (Chemexcil) will organise the Chem Expo 2002 from February 12 to 14 in Mumbai by showcasing the best of Indian industry with a view to fostering synergies for global competitivenes
s.
Consumer Electronics
LG Electronics eyes 15 pc market share
LG Electronics India Ltd is targetting a 15 per cent marketshare in the colour television (CTV) segment in the country this year against 11.6 per cent achieved last year.
Corporate
Akzo arm acquires 92% in Centak Chem; makes 2nd offer
AFTER an open offer, Akzo Nobel Chemicals International BV (ANC), a `sub-holding' company for joint ventures and subsidiaries of Akzo Nobel outside the Netherlands, has acquired 92.99 per cent in Centak Chemicals Ltd.
Delink insolvency provisions from company law: Chambers
SEVERAL chambers of commerce and industry have suggested that the winding up provisions should be separated from the Company Law and a new insolvency Act enacted.
Balaji group hopes brewery project will boost fortunes
GOOD news has been very scarce for the Chennai-based Balaji group in the last five years, ever since its founder, Mr Magunta Subbarami Reddy, was murdered by Naxalites in December 1995. Various businesses of the group fell into the red, often due to circ
umstances beyond the group's control.
Instrumentations Ltd pact with Siemens
NEW DELHI: Instrumentations Ltd, a central public sector unit, has entered into an agreement with Siemens Ltd for technical and business co-operation in the field of power plant automation.
Shree Rama to set up production unit in China
THE Ahmedabad-based Shree Rama Multi-Tech Ltd has decided to invest Rs 100 crore in setting up a manufacturing unit for plastic and laminated tubes in China.
Financial Performance
GATI to pay 40%
GATI Ltd, a retail express cargo and logistics solutions provider, has recorded an increase in operating profit from Rs 16.53 crore to Rs 17.89 crore for 2000-2001 on a turnover of Rs 250 crore. The turnover is Rs 46 crore more when compared with the pr
evious year.
Nalco net at Rs 159.45 cr
NATIONAL Aluminium Company (Nalco), a public sector undertaking under the Ministry of Mines, has earned a net profit after tax of Rs 159.45 crore in the first quarter of this fiscal. Its gross sales turnover during the quarter was Rs 774.08 crore and exp
ort earnings Rs 315.82 crore. It achieved a gross profit Rs 242.74 crore and a net profit before tax of Rs 211.45 crore during this period.
Ambuja Cement Eastern makes a turnaround
GUJARAT Ambuja's sick subsidiary, Ambuja Cement Eastern Ltd (ACEL), which was formerly known as Modi Cement Ltd, has turned around during the accounting year ended June 30, 2001. Gujarat Ambuja holds its stake in ACEL through the holding company Ambuja C
ement India Ltd.
Mutual Funds
Kotak Mahindra MF to focus on retail
KOTAK Mahindra Mutual Fund is wooing the retail investor in pursuit of stable, long-term funds. Retail customers would form 60 per cent of its customers by the year-end, said Mr Sandesh Kirkire, Vice-President, Fixed Income Securities.
Petrochemicals
Ramachandran joins Tamilnadu Petro
MR C Ramachandran, former Principal Secretary to the Government of Tamil Nadu, Industries Department, recently joined the board of directors of Tamilnadu Petroproducts Ltd.
Stocks
SEBI to probe DSE affairs
THE Securities and Exchange Board of India (SEBI) has decided to start a probe into allegations that some senior officials of the Delhi Stock Exchange officials were forced to quit following pressure exerted on them by the broker-directors with a view to
obtain sensitive surveillance data.
SEBI seeks details of `double pay-in' from NSE, NSCCL
THE Securities and Exchange Board of India (SEBI) is seeking details from the NSE and its clearing company, National Securities Clearing Corporation Ltd (NSCCL), about brokers who have allegedly availed of the ``double pay-in'' facility and the causes fo
r the same.
Brokers likely to contest CSE move to defer AGM
EVEN as the Calcutta Stock Exchange plans to apply formally this week to the Registrar of Companies (RoC) seeking an extension for holding its AGM by three months, the move may face a legal challenge from the brokers.
Textiles
Cotton ginning mills allowed to utilise TUFS
COTTON ginning and pressing (G&P) factories can utilise the textile Technology Upgradation Fund Scheme (TUFS). The extension of TUFS benefits to such modernisation of ginning and pressing factories will come into immediate effect and this has been commun
icated by the July 25 dated letter issued by the Ministry.
