Automobiles
MUL posts highest jump in car sales
SALES of passenger cars witnessed a mild revival in May this year, with the country's largest car maker -- Maruti Udyog Ltd (MUL) -- recording the highest jump in sales both on a month-to-month basis and on a year-to-year basis.
95 per cent of Activa indigenised
HONDA Motorcycle and Scooters India (Pvt) Ltd (HMSI), a 100 per cent subsidiary of Honda Motorcycle Company, Japan, plans to sell about 40,000-50,000 scooters in the mid-sized range in its first year of operations.
Cement
L&T: Divesting more, a mixed blessing?
LARSEN & Toubro's (L&T) change of heart in offering a higher stake to the prospective collaborator for its cement business may be good from the long-term perspective of the cement unit. However, the bigger gainer in the process may well be L&T itself and
to a much lesser extent the shareholders.
Corporate
ICMS to raise paid-up capital to Rs 150 cr
IDBI Capital Market Services (ICMS), the fully-owned subsidiary of IDBI, is raising its paid-up capital by Rs 50 crore to Rs 150 crore.
Hoechst targets 12% export growth
HOECHST Marion Roussel expects to garner about 10-12 per cent growth in exports in the current financial year. For the first five months ending May 31, 2001, the company has recorded sales of Rs 21.10 crore, representing a growth of 5.4 per cent.
IFC, IDBI assistance to greenfield project
INTERNATIONAL Finance Corporation (IFC), Washington and IDBI are in the process of appraising Chemplast Sanmar's Rs 500-crore greenfield PVC project, which awaits only the lenders' nod for ground-breaking.
NSE moves to new office
MUMBAI: The National Stock Exchange of India Ltd (NSEIL) commenced operations from its new offices at Bandra Kurla Complex (BKC) from Monday.
Astra hikes stake in Indian venture
BANGALORE: Swedish major Astra Pharmaceuticals AB has acquired 95,650 shares from the open market, taking its stake in AstraZeneca Pharma India to 56.49 per cent.
HLL shareholders okay merger
MUMBAI: Hindustan Lever Ltd (HLL) has informed the Bombay Stock Exchange that its shareholders have approved the scheme of amalgamation of International Bestfoods Ltd (IBFL) and Aviance Ltd with HLL.
FICCI seeks phased approach to competition bill
THE Federation of Indian Chambers of Commerce and Industry (FICCI) has urged the Government to address the competition law issues in three stages instead of enacting the Bill and giving effect to it immediately.
Indal to keep up export thrust
MR Kumar Mangalam Birla, Chairman of the Aditya Vikram Birla (AVB) group, has reaffirmed that the AVB group will continue to remain a ``conglomerate'' at the group level, subject to a condition that each of the group's business allows its dominance in th
at sector. The strategy has been adopted following the group's proven track record in successfully manning different businesses.
Financial Performance
Chemplast posts Rs 16.45-crore net
A SHARP turnaround in the last quarter of 2000-01, aided partly by firm caustic soda prices and partly by the completion of a project, enabled Chemplast Sanmar Ltd to report a net profit of Rs 16.45 crore for the year.
Rallis India: Going through a barren patch
WITH a net loss of Rs 31.93 crore before extraordinary items for 2000-01 (against a net profit of Rs 24.58 crore the previous year), Rallis India has ended the year on a bleak note. Net sales for the full year fell by 24 per cent. The performance partly
reflects the tough agricultural environment that has shrunk agrochemical offtake in 2000-01.
Management
It's regret letters versus `old' promise
MANAGEMENT students who have been smarting from the IT slowdown sting may take a re-look at their options during campus recruitment next year. This will mean a turnabout in their career plans in favour of old economy companies.
Mutual Funds
Escorts MF hikes dividend on scheme
NEW DELHI: Escorts Mutual Fund has hiked the tax-free dividend on its scheme Escorts Income Plan to 0.85 per cent for the month of June 2001.
Stocks
NSE to relocate disaster management site from Pune
THE National Stock Exchange (NSE) is looking to relocate its disaster management site from Pune following `seismological' reports that the city is earthquake-prone.
