Telco seals deal with Rover
Mumbai: The long-awaited tie-up between Tata Engineering and MG Rover of the UK, was sealed on Friday, with the two companies signing a manufacturing and supply agreement.
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LG moves to ramp up CDMA handsets sales
New Delhi: In an effort to ramp up the sales of the CDMA handsets in India, the Korean mobile handset maker LG Electronics Inc has proposed to pump over $ 5 million towards intensive mainline, on-the-ground and below the line marketing activities.
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MRF net profit zooms 147 per cent to Rs 78 crore
Chennai: Despite a lower growth in sales, the Chennai-based tyre maker, MRF Ltd, on Friday declared a net profit of Rs 78.46 crore for the year ended September 30, 2002, an increase of 147.20 per cent compared to the Rs 31.74 crore it clocked during the same period previous year.
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Essar Ship may shift Suezmax tanker to Marshall Islands
New Delhi: Essar Shipping is in the process of moving one of its six Suezmax tankers to a flag of convenience in Marshall Islands. An application to this effect is believed to have been made to the office of the Directorate General of Shipping.
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Cafe Coffee plans Rs 100-crore expansion
Bangalore: Cafe Coffee Day, the retail chain division of Amalgamated Bean Coffee Trading Co Ltd, based in Bangalore, has outlined an ambitious strategy to expand its base within the country.
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Pepsi fails to weather the thunder, Thums Up's No. 1
Mumbai: After a long gap, Pepsi has been dethroned as the number 1 soft drinks brand. As per the ORG retail audit figures for October, Thums Up is the new No. 1 in terms of market share.
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RIL offers to buy 20 per cent more stake in BSES
Mumbai: The Reliance group is all set to grab more power. On the eve of rolling out its telecom initiative, Reliance has announced a Rs 743-crore open offer for an additional 20% in BSES, and seek management control of the Mumbai-based power utility.
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Tribunal quashes cell firms' plea
New Delhi: The TDSAT has dismissed a petition by the Cellular Operators Association of India seeking a stay on the use of mobile switching centres by basic telecom service operators providing limited mobile services using WLL.
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Local market seen ahead of global peers
Mumbai: Domestic stockmarkets have outperformed their global peers by a wide margin in the current calendar year, says a Bombay Stock Exchange study on performance of global indices during the period December ‘01-November ‘02.
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Infy mandates Goldman, SSB, Merrill for ADS offering
Hyderabad: Infosys Technologies has mandated Goldman Sachs, Merrill Lynch and Salomon Smith Barney to manage its sponsored American depository share issue, which is slated to hit the market early next year.
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Grasim taps Sebi to freeze L&T demerger
Mumbai: With just over a week to go before the crucial board meeting of Larsen & Toubro on December 28, Grasim Industries has approached the Securities & Exchange Board of India (Sebi) seeking a stay on L&T's cement demerger.
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Polychem brands flock to UB stable
Mumbai: Alcazar vodka and other Ploychem group spirit brands have been bought over by the UB Group.
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Veritas Software picks up Jareva Tech for $62m
Bangalore: The technology incubator Jumpstartup Venture Fund has sold its stake in Jareva Technologies to Veritas Software, marking its second exit from an investment after CustomerAsset in May.
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LN Mittal to take over S Africa steel co Iscor
New Delhi: The stage has been set for steel magnate Lakshmi Mittal to take control of South Africa's largest steel producer Iscor, despite government concerns about a national asset falling into foreign hands.
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Solvay acquires parent's brand for Rs 14 crore
New Delhi: Solvay Pharma has acquired the Duvadilan brand from the $9bn Belgian parent, Solvay, for Rs 14.25 crore. This works out to a little over the brand's annual sales of Rs 12 crore.
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Morgan Stanley to sell stake in Kumaran Sys
Mumbai: Morgan Stanley Investment Management is planning to sell its 7.1 per centstake in software developer Kumaran Systems to the promoters of the company.
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Bollywood limps, but Sony rakes in Rs 100 cr
Mumbai: The film distribution business of Sony Pictures Entertainment (SPE) in India has crossed the Rs 100-crore mark by November-end, a 25-fold growth from Rs 4 crore in '95.
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GlaxoSmithKline declares 37 pc second interim
Mumbai: Sluggish business conditions notwithstanding, GlaxoSmithKline Consumer Healthcare Ltd yesterday declared the second interim dividend of 37 per cent for the year ending 2002.
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Samtel to exit colour monitors business
Mumbai: To cope with the increasing demand for advanced colour picture tubes (CPT),the Rs 1,100-crore Samtel Group, has decided to exit from its colour monitors business.
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Surya Roshni bags export order
New Delhi: Surya Roshni Ltd, the second largest manufacturers of lighting equipment in India, has received orders worth over $ 1 million for supply of lamp components to the Middle East.
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Sanghi Spinners bags eco award
Hyderabad: Sanghi Spinners India Ltd, the flagship company of the Sanghi Group has won the Oeko-Tex Standard 100 Certificate from the BTTG Manchester United Kingdom (UK), the institute of the international association for research and testing in the field of textile ecology.
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Renfro buys out Intersocks' 49 pc in Karnik Hurwits - EOU name changed to Renfro India
New Delhi: Renfro Corporation, manufacturers of socks with a turnover of $300 million, has signed a partnership deal with Karnik Hurwits Intersocks Private Ltd to foray into the Indian market.
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McDowell, UB Holding voting rights in SWC frozen
Mumbai: The Company Law Board yesterday passed an interim order suspending the voting rights of McDowell & Company Ltd and United Breweries Holding Ltd, which had recently acquired shares in Shaw Wallace & Company Ltd.
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Acer bets on TabletPC to make new dents
Bangalore: Acer, one of the first vendors to collaborate with Microsoft for the TabletPC that recognises handwriting and voice, is hoping that the product will help it make dents in markets so far inaccessible to it.
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