Automobiles
Hyundai sales up in October
BUCKING the depressing trend in the car market, Hyundai Motor India Ltd said on Friday that it sold 7,734 cars in October, which is 14 per cent higher on a month-on-month comparison and five per cent higher in year-on-year comparison.
HM Oct sales take a hit
The slowdown of the car market hit erstwhile market leader Hindustan Motors Ltd (HM), which Friday said it sold 1,565 cars in October, down from 1,653 sold a month earlier.
TVS-Suzuki Oct sales in top gear
TVS-SUZUKI has announced that its total monthly sales in October 2001 had gone up to 81,241 units as compared to 76,664 units in the same period last year.
Bajaj Auto sales zoom in October
BAJAJ Auto Ltd (BAL) today reported its highest-ever motorcycle sales of 68,179 units for October.
Maruti's sales hit a speed-braker in Oct
MARUTI Udyog Ltd, the country's largest car manufacturer, suffered a 30 per cent drop in sales in October at 20,172 vehicles, down from 28,745 sold in September, the company said Friday.
Cement
ACC reports 13.6 pc growth in despatches
ACC Ltd has reported cement despatches of 10.47 lakh tonnes for October, 2001, recording a 13.6 per cent growth over the despatches of 9.21 lakh tonnes recorded during October 2000.
Corporate
Eveready yet to clinch deal on debt revamp
DEBT-RIDDEN Eveready Industries India Ltd, the flagship company of Mr B.M. Khaitan, is yet to finalise its proposed financial restructuring despite holding several rounds of meetings with banks and financial institutions.
Expert panel soon on biotech products
A PERMANENT panel to accord marketing approval for biotechnology-based products is being set up. Mr Ashwini Kumar, Drug Controller-General of India (DCGI), has said that a permanent expert panel for evaluating biotechnology products, particularly investi
gational new drug, is to be constituted shortly.
Framatome to set up line for optical couplers
FRAMATOME Connectors OEN Ltd is planning to enhance its fibre optic business by setting up of a line for optical couplers in Bangalore.
Exemption on Chemfab open offer
MUMBAI: The Securities and Exchange Board of India (SEBI) has exempted Dr Rao Holdings Pte Ltd (acquirer) from making an open offer to acquire shares from the shareholders of Chemfab Alkalis Ltd.
ECIL venture offers portable scanner -- Expects further orders
FOR postal departments and security agencies confronted with the looming threat of the deadly anthrax being slipped through letters and parcels by terrorists, here is some encouraging news.
IPFonline launches ARG
COIMBATORE: In its endeavour to provide value-added information to the garment manufacturers and exporters, the Chennai-based infomediary, IPFonline, has launched the Accessories Resource Guide (ARG), which is a print supplement in Fabric Resource Guide
(FRG).
Transport Corpn H1 gross up 13%
NEW DELHI: Transport Corporation of India Ltd has registered a gross profit of Rs 10.39 crore in the first-half of the current fiscal, a 13 per cent increase over the corresponding period last year, according to an official statement.
VSP turnover up 24 pc
KOLKATA: Rashtriya Ispat Nigam Ltd's Visakhapatnam Steel Plant has achieved a 24 per cent growth in turnover in October 2001 compared with turnover in October 2000. VSP's sales turnover of Rs 302 crore in October 2001 is the best for any October month si
nce the inception of the steel plant.
Glenmark, Unichem sign MoU for marketing
MUMBAI: Glenmark Pharmaceuticals has entered into a co-marketing arrangement with Unichem to market two new antibiotics, namely, Linezolid and Cefdinir.
UTI introduces touch-screen kiosks
MUMBAI: Unit Trust of India (UTI) has taken another step for improving investor services by implementing the touch screen kiosk system.
Kribhco pays Rs 39.36-cr dividend
NEW DELHI: Krishak Bharati Cooperative Ltd (Kribhco) has presented a cheque for Rs 39.36 crore towards dividend to the Centre for the year 2000-01. The cheque was presented to the Prime Minister, Mr Atal Bihari Vajpayee, by the co-operative's Chairman, M
r Chandra Pal Singh.
SPIC bags ICMA management award
CHENNAI: The Southern Petrochemical Industries Corporation Ltd (SPIC) has been conferred the ICMA Award 2000 by the Indian Chemical Manufacturers' Association for excellence in management of safety, health and environment, according to a company press re
lease.
ICICI sells Tolani shares to parent
ICICI Ltd has sold its entire shareholding of 10 lakh shares in Tolani Bulk Carriers Ltd (TBC) in the open offer by the promoter group company, Tolani Shipping Co Ltd (TSC).
Greaves to exit from jt ventures
GREAVES Ltd intends to exit from its two joint ventures, Same Greaves Ltd and Same Greaves Tractors Ltd.
JK Corp AGM on Nov 19 to adopt 1999-00 a/c
THE 61st annual general meeting of the Singhanias-promoted Rs 983-crore JK Corp Ltd, which got adjourned sine die on March 16 this year for consideration of audited accounts for the financial year ended September 30, 2000, is now scheduled to be held on
November 19. This follows the clearances obtained from the High Courts of Orissa and Gujarat for the restructuring package.
Hit by slowdown -- Kvaerner Power looks overseas
KVAERNER Powergas India Ltd (KPIL), a Rs 67-crore EPC contractor, is re-orienting its business focus due to the industrial slowdown in the country.
Environment
`Green' card for corporates
CLOSE on the heels of taking the lid off the environmental performance of the Indian auto sector, the Centre for Science and Environment is now planning to come out with a rating for the corporate sector.
Financial Performance
CESC Q2 loss up at Rs 22 cr
KOLKATA: The net loss of the RPG-controlled CESC Ltd for the second quarter of 2001-02 has increased to Rs 22 crore from Rs 18 crore in the same quarter of 2000-01. With this, CESCs unaudited net loss in the first-half climbs to Rs 62 crore (Rs 33 crore)
. CESCs unaudited net loss for 2000-01 stood at Rs 98 crore.
Ind-Swift group cos net up 19 pc
NEW DELHI: The Chandigarh-based formulations company, Ind-Swift Ltd, has reported a net profit of Rs 2.24 crore, for the quarter ended September 30, 2001. This is up 19.3 per cent from Rs 1.88 crore, registered in the same period last year.
Goodyear loss at Rs 14.10 cr
GOODYEAR India Ltd (GIL) has reported a net loss of Rs 14.10 crore for the quarter ended September 30, 2001 as against a net loss of Rs 12.60 crore recorded in the same period the previous year.
PSU
New BHEL director
NEW DELHI: Mr Virendra Kumar has been elevated to the board of Bharat Heavy Electricals Ltd (BHEL) as Director (Engineering, Research & Development).
Pharmaceuticals
Zydus launches raloxifene drug
ZYDUS Cadila has joined the bandwagon of Indian pharmaceutical companies, which are rushing for the raloxifene pie in India.
Radio/TV
Indian partner protests Walt Disney plan for wholly-owned subsidiary
WALT Disney Television Internationals (Asia Pacific) plan to set up a 100 per cent subsidiary in India has run into rough weather with the companys Indian joint venture partners, the Modi group, raising objection against the proposal stating that it coul
d adversely affect the existing joint venture company.
