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After
Reliance, now Tatas WiLLing to offer more
In response to the tariffs for wireless in local loop
(WLL-M) services announced by Reliance Infocomm, Tata
Teleservices will soon offer new tariff schemes that customers
will find even more attractive.
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Short
circuit: FIIs cut BSES stake to 1.5%
FIIs
have reduced their exposure in BSES during the third quarter
ended 31 December, as Reliance Industries steadily increased
its stake in the Mumbai-based power major to around 45
per cent.
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Sify,
TCS, Wipro, Infy offshore revenues to rise
The four major Indian IT companies -- Satyam, TCS, Wipro
and Infosys -- will see their offshore software development
revenues increase by 20 per cent this year.
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Ford
changes gear with Ikon Nxt
Ask Ford India what next? And the answer is 'Nxt', an
all-new variant of its mid-segment offering Ikon. But
for Ford India officials, 'Ikon Nxt' is not just another
variant but a 'next generation' car.
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USV
to sell Lane Labs' products in local market
Closely-held drugmaker USV has struck a marketing tie-up
with Lane Labs, a US-based nutraceuticals company.
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AI
net may soar to Rs 100 crore
Air-India
is estimated to end the current financial year with a
Rs 100 crore profit as against last year's profit of Rs
15.4 crore, said Sripad Naik, Union minister of state
for civil aviation.
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Bajaj
to reduce cost per bike by Rs 1,200 by 2004
Two-wheeler major Bajaj Auto (BAL) plans to cut costs
by up to Rs 700 per motorcycle this year and by another
Rs 500 per unit by 2004.
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Tisco,
Ispat to gain from cut in metcoke duty
Ferro alloy producers like Tata Steel, the Jindals, Ispat
group and Indian Charge Chrome have got a major respite
with the government deciding to cut import duty on metallurgical
coke (metcoke) from 15 per cent to 5 per cent.
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Sail's
rail output may rise 40%
The Steel Authority of India (SAIL), which is looking
at turning in a net profit this fiscal, will post the
highest ever production of rails in the year. And its
Sail's output is likely to rise 40 per cent.
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Marconi
to pump $5 million into local unit
The Indian arm of British telecom major Marconi telecommunications
is planning to now take up specialised marketing, distribution
and installation of high technology communications equipment
and data system for Indian companies.
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TCS
looks to expand in Chennai, scouts for land
After Infosys, the other IT major, Tata Consultancy Services
has shown interest in expanding its Chennai operations.
TCS is exploring the possibility of acquiring large land
space either at the second IT park at Siruseri or at Mahindra
Industrial Park.
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Maruti
hikes prices
Maruti Udyog has hiked prices of its vehicles, except
the Baleno and the Versa, by 0.33 per cent to 1.7 per
cent, citing higher input costs such as increased steel
prices. As per the current revision, the 800 standard
model will be dearer by Rs 2,135.
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Four
Ferro Alloys units have more than 5% equity
Ferro Alloys Corporation of India Ltd has informed the
stock exchanges that four entities had more than 5 per
cent equity holding in the company as on 31 October 2002.
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ONGC
to invest Rs 500 crore in three new fields
The Oil and Natural Gas Corporation (ONGC) will be investing
Rs 500 crore towards development of three new fields,
which are expected to yield up to 1.3 million tonnes of
oil and oil equivalent gas.
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Lanco
Ind allots Rs 22-crore equity to Electro Steel
Lanco Industries Ltd (LIL), the Hyderabad-based pig iron
manufacturer, has allotted additional equity capital of
Rs 22 crore to the Kolkata-based pig iron major - Electro
Steel Castings Ltd.
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ONGC
bids for Cairn assets in India
The Oil and Natural Gas Corporation (ONGC) has made a
non-binding bid for Cairn Energy's assets in India, while
its subsidiary, ONGC Videsh Ltd (OVL), has made an offer
to buy Cairn's assets in Bangladesh.
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Ind
Swift board clears swap ratio
Ind Swift Ltd's board has approved a swap ratio of 72
shares of Rs 10 each of Ind Swift Ltd for every 10 shares
of Rs 100 each of Mukur Pharmaceutical Co Private Ltd;
and 54 shares of Rs 10 each of Ind Swift Ltd for every
10 shares of Rs 100 each.
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ABB
India bags order from Syria
ABB India, part of the ABB group specialising in power
and automation technologies, has bagged an export order
of Rs 168 crore from Syria.
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PSL
Holdings bags Rs 400-crore order
PSL Holdings Ltd, one of the leading steel pipe manufacturers
in the country, has bagged orders exceeding Rs 400 crore
in three pipeline projects in Southern and Western India,
according to a company release.
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