Automobiles
Tata Engineering `open' to separation of car project
TATA Engineering & Locomotive Company Ltd (Tata Engineering), which registered a loss of Rs 500.34 crore in 2000-2001, is ``open'' to the prospect of separating its car project.
MRTPC pulls up Mahindras
THE automobile major Mahindra & Mahindra (M&M) has been pulled up by the Monopolies & Restrictive Trade Practices Commission (MRTPC) for indulging in restrictive trade practice on the issue of `special allocation' of vehicles.
Corporate
Prisco moving into procurement
PROCUREMENT infrastructure company, Prisco, is moving away from offering online auctions to procurement services. It expects to bag inventory management outsourcing deals from manufacturing companies in India, US and the UK.
Making Indian subsidiary wholly-owned -- FIPB defers Otis proposal
THE plan to convert the listed Indian subsidiary of Otis Elevator Company of the US into a wholly-owned subsidiary has been deferred by the Foreign Investment Promotion Board (FIPB).
Ogden Asia may not expand
UNNERVED by the current developments with regard to the Dabhol power project in Maharashtra, the management of Ogden Asia Pacific Ltd (OAPL) of Hong Kong is understood to have decided not to take any active interest in developing any further business int
erests in India.
Company rules to be made simpler
NEW DELHI: THE Government will be revising shortly the Companies (Central Government's) General Rules and Forms, 1956 to make them user-friendly and computer-savvy. These forms will include, among others, details relating to voter identity card, passport
number, permanent account number and recent photo promoters and directors of the companies apart from reducing the number of forms.
Wartsila arm to merge with parent
WARTSILA India Ltd will place before shareholders a scheme of amalgamation pertaining to Wartsila Operations & Maintenance India Ltd, a wholly-owned subsidiary. The scheme has been vetted by the Bombay High Court.
`Downsizing cos should look into social issues'
WHEN companies undertake downsizing in the country, they should remind themselves that there is no concept of social security in India, unlike the West, emphasised Mr Niroop Mahanty, Vice-President, Human Resources Management, Tata Steel.
Environment
SIV Ind: Pushed into red by green issues
SIV Industries - hitherto considered a major producer of rayon and viscose staple fibre (VSF) in the South - is dogged by complexities and environmental issues today.
Financial Performance
Hind Construction net at Rs 26.54 cr
HINDUSTAN Construction Co Ltd (HCC) has posted a 24 per cent increase in net profit at Rs 26.54 crore for the year ended June 30, 2001 as against Rs 21.39 crore in the previous year.
Hotels
EIH proposes to raise Rs 400-cr for buys
EIH Ltd, a Rs 519-crore hospitality major and part of the Oberoi Group, is planning to raise funds to the tune of Rs 400 crore to part finance its acquisitions and expansion programmes both in India and abroad.
Mutual Funds
UTI sells shares of Indya.com
MUMBAI: The Unit Trust of India (UTI) has sold 15,81,032 equity shares of Indya.com (Re 1 each) at Rs 7.54 per share.
Petroleum
ONGC plans offshore operations in Bengal
OFFSHORE operations will receive top priority in Oil & Natural Gas Corporation Ltd's action programme in West Bengal, according to Mr P.K. Adak, Regional Director, Central Regional Business Centre, ONGC.
ONGC to drill five deep water wells in two years
OIL and Natural Gas Corporation Ltd (ONGC) plans to drill five deep water wells at its existing offshore rigs over the next two years, the first lot of such wells in the offing since the start of the company's restructuring in January.
