Business Line articles from December 2001, page 9

Business Line archives from December 2001

India: South Indian Bank plans debt issue.
December 13, 2001... NEW DELHI, Dec. 12. SOUTH Indian Bank Ltd proposes to issue subordinate debt bonds for Rs 50 crore through the private placement route to shore up its Tier-II capital and maintain the capital adequacy requirement of over 11 per cent. ...

India: BoI bond issue.
December 13, 2001... MUMBAI: Bank of India is raising a tier-II issue for Rs 160 crore. "We are raising the money to push up our capital adequacy ratio. We expect clearance for the buyback of equity shares shortly. We want our CAR to be maintained after...

India: Panel briefs Sinha on asset revamp co framework.
December 13, 2001... NEW DELHI, Dec. 12. THE Government took a step forward in its efforts to set up an asset reconstruction company (ARC) within the existing legal framework with the Committee set up to look into the feasibility of such an entity on Wednesday...

India: No cess on rubber used for export.
December 13, 2001... Byline: K.R. Srivats NEW DELHI, Dec. 12. THE Central Government has exempted from cess all the rubber produced in the country and procured for export production by export-oriented units (EOUs); units in the export processing zones (EPZs)...

India: Bengal jute TUs to go on strike.
December 13, 2001... KOLKATA, Dec. 12. THE indefinite strike called by 18 central trade unions of the jute industry in West Bengal is likely to push this age-old and ailing sector into a major crisis during the first fortnight of next year. Trade unions...

India: Export of 7 lakh t onions allowed.
December 13, 2001... NAGPUR: The Centre has allowed exports of onion to the tune of seven lakh tonnes from Maharashtra to check price fluctuations, the Maharshtra Marketing Miniser, Mr Ganpatrao Deshmukh, told the Assembly on Wednesday. Making a statement on...

India: Bailout instead of disinvestment?
December 13, 2001... Byline: Ashwini Phadnis WITH the Air India (AI) disinvestment coming to a grinding halt, it is time for some serious introspection by the authorities and those at the helm of affairs at the airlines. The Tatas, the lone bidder for a...

India: Loose ends.
December 13, 2001... Byline: D. Murali WHEN time stares in the face, truths could emerge. With an approaching deadline, the ICAI president, Mr N. D. Gupta, makes a few admissions: I am struck by how quickly time has flown by. Nine months of my tenure have...

India: For VSNL, the party is over.
December 13, 2001... IN AUGUST 2000, the Prime Minister, Mr Atal Bihari Vajpayee, had declared that both basic telecom (within the country) and international long distance (ILD) services would be thrown open to competition from April 1 2001 and 2002 respectively....

India: Block deals in Venky's India.
December 13, 2001... Byline: K.S. Badri Narayanan EVEN as the market remained range-bound select counters witnessed hectic activities on Wednesday. The following are a few such stocks. Venky's India: The stock closed the day on the BSE at 34.20, a...

India: Brand selling to help Sun Pharma.
December 13, 2001... Byline: Virendra Verma/Aparna Krishnan Sun Pharmaceutical is planning to sell a few of its prescription brands that it has identified as tail-end products. Dealers said that these brands together account for sales of around Rs 25 crore....

India: Clicking on an idea for hi-tech's future.
December 13, 2001... Byline: Sankar Radhakrishnan CHENNAI, Dec. 12. PUT on your thinking cap for a minute and imagine you're back in school. Not to study, but to teach. And in a surely innovative manner. Imagine you've been asked to design a lesson; not...

India: Are diamonds forever?
December 13, 2001... Byline: AJITA SHASHIDHAR TRENDY, exotic and an everlasting gift diamonds. What till almost a decade ago was considered exorbitant and unaffordable is now being positioned as the ultimate gift that one could give their loved ones, and...

India: Comparisons needn't be odious.
December 13, 2001... Byline: S. Shankar The recent ad campaign for Surf compares it to an unnamed detergent and attempts to show that Surf washes whiter than the other. However, the orange packaging of the other detergent in the commercial and the...

India: Cadbury India: Upside capped.
December 12, 2001... Byline: BL Research Bureau THE announcement from Cadbury Plc that it proposes to mop up the remaining 49 per cent public holding in Cadbury India at a price of Rs 500 per share may not result in any significant uptrend in the Cadbury...

India: Parry Agro: Limited gains from buyback.
December 12, 2001... Byline: BL Research Bureau THE Parry Agro stock may show firm trends given the specifics of the stock buyback plan. The company has proposed to buy 8.67 lakh shares at a price not exceeding Rs 70 per share. If the buyback is routed...

India: Govt okays Aptech plan for 2 units.
December 12, 2001... Byline: Ambarish Mukherjee NEW DELHI, Dec. 11 THE Government has cleared Aptech's plan to restructure its business and create two focussed units, one for training business and the other for software business, through the issue of new...

India: US to export more advance computers.
December 12, 2001... Byline: Our Bureau BANGALORE, Dec. 11 - THE Bush administration has proposed to raise sharply the threshold for exports of advanced computers to a group of more than 40 countries including India, Pakistan, Russia, China and Israel,...

India: Cadbury parent makes open offer at Rs 500.
December 12, 2001... Byline: Our Bureau MUMBAI, Dec 11 - CADBURY Schweppes Plc on Tuesday announced an open offer to acquire 49 per cent stake in its Indian subsidiary, Cadbury India Ltd, at Rs 500 per share with the intention of delisting the company from...

India: Anti-dumping probes all around.
December 12, 2001... Byline: Our Bureau NEW DELHI, Dec. 11 - THE World Trade Organisation (WTO) has said that there has been an avalanche of anti-dumping probes against exports from a total of 41 different countries or customs territories across the world...

India: Swaraj's advice to pvt broadcasters.
December 12, 2001... Byline: Our Bureau CHENNAI, Dec. 11 - PRIVATE broadcasting channels too have a social responsibility and should develop a healthy mix of commercial and public service programmes, the Union Minister for Information and Broadcasting, Ms...

India: Bharti lines up FIIs for IPO.
December 12, 2001... Byline: Ambarish Mukherjee NEW DELHI, Dec. 11 - BHARTI Tele-Ventures Ltd has lined up an impressive list of foreign institutional investors (FIIs) to participate in its forthcoming maiden public issue and has sought the approval from the...

India: Tayal group to hike stake in Bank of Rajasthan.
December 12, 2001... Byline: Our Bureau KOLKATA, Dec. 11 - THE Tayal group, principal promoters of Bank of Rajasthan, has decided to hike its stake in the bank from the current 38.5 per cent to 40 per cent by March 2002. Speaking to newspersons on...

India: SBI slashes deposit rates by 25 bps.
December 12, 2001... Byline: Our Bureau MUMBAI, Dec. 11 - STATE Bank of India (SBI) on Tuesday lowered deposit rates across maturities by 25 basis points. The bank's prime lending rate (PLR), however, remains unchanged. "We have yet to take a view on...

India: Coke sees more fizz in 200 ml.
December 12, 2001... Byline: Ratna Bhushan NEW DELHI, Dec. 11 - GOOD things do come in small packages. Take Coca-Cola India, which is planning a nationwide roll-out of 200 ml glass bottles across all its brands in its portfolio. The objective is clear -...

India: Zee board meet over Turner deal.
December 12, 2001... Byline: Our Bureau MUMBAI: Zee Telefilms Ltd (ZTL) on Tuesday informed the BSE that a meeting of its board of directors is scheduled for December 13 to consider a joint venture with Turner International India Ltd. The proposed joint...

India: Deutsche Intl FDI cleared.
December 12, 2001... Byline: Our Bureau NEW DELHI, Dec. 11 - DEUTSCHE International Trust Corporation Ltd accounted for the lion's share of Rs 111.65 crore out of the 15 foreign direct investment (FDI) proposals worth about Rs 113 crore cleared by the...

India: AAIFR told to re-hear Dunlop appeal.
December 12, 2001... Byline: Our Bureau KOLKATA, Dec. 11 - THE Calcutta High Court on Tuesday directed the Appellate Authority for Industrial and Financial Reconstruction (AAIFR) to rehear Dunlop India Ltd's (DIL) appeal, which was dismissed on August 8. ...

India: Rane (Madras) to reacquire stake from Rane Brake.
December 12, 2001... Byline: Our Bureau CHENNAI, Dec. 11 - RANE (Madras) Ltd has informed the stock exchanges that it intends to acquire Rane Brake Linings' stake in joint ventures - Rane TRW Steering Systems, Rane Nastech and TRW Rane Occupant Restraints....

India: Fiat Auto revamp to leave Indian arm untouched.
December 12, 2001... Byline: Our Bureau MUMBAI, Dec. 11 - "THERE is no impact on the Indian operations," a spokesperson for Fiat India Ltd (FIL) said here on Tuesday about the recent news of restructuring at its Italian parent and leading car manufacturer,...

India: GM sets the pace for 10 pc rise in sales.
December 12, 2001... Byline: Anand Krishnamoorthy NEW DELHI, Dec. 11 - DESPITE failing to meet its internal target for sales in 2001, General Motors India Ltd (GM) has targeted a 10 per cent rise in its car sales for calendar 2002, a top company official...

India: Bar on seeking public deposits.
December 12, 2001... Byline: Our Bureau NEW DELHI, Dec. 11 - THE Department of Company Affairs (DCA) has issued a notification amending the Companies (Acceptance of Deposits) Rules, 1975 to prohibit companies with net-owned funds of less Rs 1 crore from...

India: National Buildings net worth positive.
December 12, 2001... Byline: Our Bureau NEW DELHI: National Buildings Construction Corporation Ltd (NBCC), under the Ministry of Urban Development and Poverty Alleviation, has achieved a positive net worth as on September 30, after a gap of 15 years. ...

India: Pizza Hut plans more outlets in Chennai.
December 12, 2001... Byline: Our Bureau CHENNAI, Dec. 11 - PIZZA HUT has plans to open another two branches in Chennai. The company has decided on Radhakrishnan Salai as one location. The outlet would mainly be a takeaway and delivery arm, according to Mr...

India: Abad Foods plans to rope in housewives.
December 12, 2001... Byline: 2003, the company plans to have 200 business partners throughout BANGALORE, Dec. 11 - TAKING a cue from direct selling companies such as Amway, Avon, Modicare and Herbalife, the Abad group of Cochin, is planning to recruit...

India: KPTCL dispute with Tanir Bhavi overruled.
December 12, 2001... Byline: C. Shivkumar BANGALORE, Dec. 11 - THE Karnataka State Government has overruled Karnataka Power Transmission Corporation Ltd's (KPTCL) dispute with Tanir Bhavi Power Company over settlement of fixed charges. Sources said here...

India: MIDC to lure tanners.
December 12, 2001... Byline: Indrani Dutta KOLKATA, Dec. 11 - THE Maharashtra Industrial Development Corporation (MIDC) has launched an effort to woo tanners from the city offering them attractive facilities and incentives. The MIDC Chairman, Mr R.N....

India: Corporate blueprint for better professional skills.
December 12, 2001... Byline: C.R. Sukumar HYDERABAD, Dec. 11 - AIMED at leveraging India's strengths in a professional skillforce against the background of serious aging problems in developed nations, the recently-formed High-Level Strategic Group,...

India: HSL, CSL may be referred to Disinvestment Commission.
December 12, 2001... Byline: doing so, the Disinvestment Ministry is seeking to build a NEW DELHI, Dec. 11 - PREMIER public sector shipbuilding yards Hindustan Shipyard Ltd (HSL), Cochin Shipyard Ltd (CSL) that are struggling to stay afloat and the...

India: Infosys allots ESOPs to 88 employees.
December 12, 2001... Byline: Our Bureaus BANGALORE: Infosys Technologies Ltd has informed the BSE that the board of directors has allocated stock options to a total of 88 employees who joined the company between November 5 and December 4, 2001. The...

India: P&O Ports allowed existing rates at Chennai.
December 12, 2001... Byline: Our Bureau NEW DELHI, Dec. 11 - THE Tariff Authority for Major Ports (TAMP) has permitted P&O Ports to continue with the existing rates at its container terminal at Chennai Port till the proposal submitted by the private operator...

India: Infosys role in Van Dorn series.
December 12, 2001... Byline: Our Bureaus BANGALORE: Van Dorn Demag Corp has announced that Infosys Technologies Ltd played a critical role as an engineering partner for the IntElect Series, a line of all-electric drive injection molding machines introduced...

India: Tata Tele adds 11 more CDMA cell sites.
December 12, 2001... Byline: month end, the company plans to increase the total number of HYDERABAD: Tata Teleservices Ltd, the private basic phone services provider in Andhra Pradesh, has added 11 more CDMA (Code Division Multiple Access) cell sites to its...

India: Iopsis, Sun Micro to create solutions for B2B services.
December 12, 2001... Byline: Our Bureau PUNE, Dec. 11 - THE Pune-based Iopsis Software has partnered with Sun Microsystems to develop software solutions that would enable to create, deploy, share and maintain business-to-business Web services. The...

India: VisualSoft Technologies embarks on a rejig strategy.
December 12, 2001... Byline: Our Bureau HYDERABAD, Dec.11 VISUALSOFT Technologies Ltd, the Hyderabad-based products and software solutions provider, has embarked on a rejig strategy, which will include consolidation of its Indian operations and strengthening...

India: MAIT, Nasscom merger creation of media: Karnik.
December 12, 2001... Byline: Our Bureau CHENNAI, Dec. 11 - THE National Association of Software and Services Companies (Nasscom) President, Mr Kiran Karnik has denied that Manufacturers' Association of Information Technology (MAIT) and Nasscom merger was on...

India: Chrysalis gains more stake in MphasiS BFL.
December 12, 2001... Byline: Neha Kapoor and Virendra Verma MUMBAI, Dec 11 CHRYSALIS Capital has increased its stake in Bangalore-based software services company, MphasiS BFL, by around seven per cent through the secondary market route in the last couple of...

India: Tighter IT budget in US may hit Indian market.
December 12, 2001... Byline: Abhrajit Gangopadhyay and Vishwanath Kulkarni BANGALORE, Dec. 11 - THE US corporates are likely to budget less for IT spend in 2002 than actually spent during 2001 which in turn could mean flat or lesser business to Indian...

India: Canbank MF pays 4% dividend on Cangilt scheme.
December 12, 2001... CANBANK Mutual Fund has declared the eighth tranche of income distribution of 4 per cent on the face value of Rs 10 on its Cangilt (PGS) scheme under the income plan. According to a press release issued here by Canbank Investment...

India: NHB proposes to rope in ADB for mortgage venture.
December 12, 2001... Byline: N.K. Kurup MUMBAI, Dec. 11 - NATIONAL Housing Bank (NHB) plans to rope in Asian Development Bank (ADB) as the third equity partner in its proposed joint venture to provide mortgage credit guarantee on housing loans, a senior NHB...

India: Shipping majors submit bids for Sandheads project.
December 12, 2001... Byline: Our Bureau NEW DELHI, Dec. 11 - FOUR bidders have submitted their technical and financial bids for the floating storage off-loading (FSO) project planned by the Indian Oil Corporation (IOC) at Sandheads near Haldia. Domestic...

India: Agri-commodity prices enter correction phase.
December 12, 2001... Byline: Latha Venkatraman MUMBAI, Dec. 11 - SELECT agri-commodity prices are seemingly on the road to recovery after touching new lows. Protracted mismatch between supply and demand seems to have entered the correction phase. ...

India: Mandate for peace and economic revival.
December 12, 2001... Byline: Rasheeda Bhagat THE real victory in Sri Lanka's recent polls seems to be for the voters. Despite all kinds of misgivings about the wide-spread confusion among the people of this tiny island-nation over the composition of...

India: Some hope for disinvestment.
December 12, 2001... THE FALTERING DIVESTMENT programme of the government may just have received a fresh lease of life from the form of the Supreme Court's judgment in the Bharat Aluminium Company (Balco) case. The significance of the judgment lies in its ringing...

India: Fusing psychology and economics.
December 12, 2001... Byline: P. R. Brahmananda THE NOBEL Foundation has been celebrating its centennial by symposia on different subjects for which the prize is being awarded. Some 165 surviving Nobel laureates are expected to attend the various functions....

India: Is Japan's interest in India waning?
December 12, 2001... Byline: Smita Banerjee THE Prime Minister, Mr Atal Bihari Vajpayee, is in Japan to hopefully bury the major irritant between the two countries - the nuclear issue. For India, Japan is an important economic ally. It is the fifth...

India: Low-cost systems for small farmers.
December 12, 2001... Byline: and large, the irrigation sector has focussed on large-scale FRESH water available for human consumption and for agricultural and environmental requirements is rapidly becoming scarcer. In the 1950s, only a handful of countries...

India: He dunnit... in inimitable style.
December 12, 2001... Byline: Janaki Murali SO yet another icon is gone. Ashok Kumar of the Dada Saheb Phalke award fame, who spent 67 of his 90 years in Hindi films, who gave other actors in the film he was in, a complex, will no longer be there to give...

India: Has outlook turned positive in Reliance Petro, Tata Steel?
December 12, 2001... Byline: B. Venkatesh TUESDAY's trading in the derivatives segment saw dealers demand sizable quantity of out-of-the-money equity and index options. Here are some of the pointers from the day's trading: Equity options: The December 35...

India: Mera wallah white.
December 12, 2001... HELEN of Troy might have had a face that could launch a thousand ships. IT companies, however, need not only beauty but also that elusive local touch to launch a marketing offensive. And they need to do it quickly in today's context of...

India: A balancing Act.
December 12, 2001... Byline: Sqn Ldr B. G. Prakash IT takes a long time to bring in a new law and an indeterminate period to amend it. The Information Technology Act 2000 of India, along with others such as the Integrated Chip layout design Act and the...

India: EYE 4 I - Life matters.
December 12, 2001... Cloning is back in the news after the successful laboratory recreation of a human embryo in the US, which has revived the debate over the issue. This week's picks include a site with all the cloning links you can handle, a report on...

India: Cyber Quest.
December 12, 2001... QUESTIONS 1. Which company is China's largest personal computer maker? 2. On which processor does Palm OS run? 3. Of which Indian computer company is Raj Saraf the CMD? 4. BSNL is planning to introduce DWDM technology in...

India: SC upholds Balco sale.
December 11, 2001... NEW DELHI, Dec. 10. IN a strong endorsement of the Centre's disinvestment policy which Mr Arun Shourie and his officials in the Ministry of Disinvestment were looking for, the Supreme Court on Monday upheld the Union Government's decision to...

India: 'No move to deport Huawei Chinese staff'.
December 11, 2001... NEW DELHI, Dec. 10. THE Union Government has denied that Chinese software and telecom engineers working in Huawei Technologies India, a Bangalore-based 100 per cent subsidiary of Huawei Technology Co Ltd of China, are to be deported as no...

India: Net access in 30 seconds.
December 11, 2001... NEW DELHI, Dec. 10. THE Telecom Regulatory Authority of India (TRAI) has laid down a set of regulations and benchmarks for dial-up and leased line Internet access aimed at providing faster and reliable Net-access for the customers. As...

India: Dumping duty on Italian acrylic fibre mooted.
December 11, 2001... NEW DELHI, Dec. 10. THE Designated Authority in the Commerce Ministry has recommended imposition of provisional anti-dumping duty on all imports of acrylic fibre (below 1.5 denier) from Italy. In its preliminary findings on the investigations...

India: 'Tech only way out of commodity trap'.
December 11, 2001... COIMBATORE, Dec. 10. DESPITE the over-capacity syndrome haunting the cotton textile industry worldwide, companies should consider investing on technology on a continuous basis if they want to evade the 'commodity trap' in which too many...

India: Will Ram Naik end RPL, IOC stand-off?
December 11, 2001... NEW DELHI, Dec. 10. THE Petroleum Minister, Mr Ram Naik, is set to step in to end the stand-off between Reliance Petroleum Ltd (RPL) and Indian Oil Corporation (IOC) on the implementation of the contract between the two companies in the post...

India: 'Textile sector imbalanced'.
December 11, 2001... COIMBATORE, Dec. 10. INDIA'S textile pipeline is imbalanced. While its spinning sector has been well developed technologically, the same cannot be said of its weaving or processing sectors, according to Mr Herwig M. Strolz, Director-General,...

India: EAM to bid for Chennai medical waste treatment.
December 11, 2001... CHENNAI, Dec. 10. EAM Solution India Ltd, an Indo-British joint venture promoting the Logmed technology for disinfecting and disposing hospital (biomedical) wastes, is planning to make a bid for the common treatment facility for Chennai. ...

India: Paswan hauls over the 'fake' coals.
December 11, 2001... NEW DELHI, Dec. 10. APPARENTLY many consumers of Coal India Ltd and its subsidiaries are merely spooks, and the Minister of Coal, Mr Ram Vilas Paswan, is out to exorcise them. Apart from the core sector consumers comprising power, steel,...

India: Forex reserves set to surpass $47-b mark.
December 11, 2001... MUMBAI, Dec. 10. FOREX reserves, which have been rising steadily, have soared by $ 2.038 billion in the past two months. Reserves are now set to surge above $ 47 billion mark after having touched $ 46.891 billion for the week ended November...

India: Mascon Global to issue Rs 75-cr pref securities.
December 11, 2001... MUMBAI, Dec. 10. MASCON Global Ltd on Monday told the BSE that its board has decided to issue securities on a preferential basis for Rs 75 crore, including premium, as per SEBI guidelines. In a statement, the company said that the equity...

India: Lease Plan to hike fleet strength.
December 11, 2001... NEW DELHI, Dec. 10. LEASE Plan India Ltd, a joint venture between ABN-Amro Lease Holding (AALH) and Travel House, is planning to raise the number of cars in its fleet to 5,000 by the end of next year, Mr Hugo Levecke, Chief Executive Officer,...

India: No links with Taliban, says Huawei Tech.
December 11, 2001... BANGALORE, Dec. 10. HUAWEI Technologies said here today that it had not received any intimation from the Ministry of External Affairs on the deportation of Chinese employees by the Government of India. Describing press reports that it was...

India: ONGC Gujarat well leak yet to be plugged.
December 11, 2001... GANDHINAGAR, Dec. 10. THE Oil & Natural Gas Corporation (ONGC) exploratory well (No: SK 108) in the north Gujarat town of Kadi, which began spewing gas and spilling oil on Friday night, was yet to be brought under control on Monday. The...

India: 'Decentralised procurement plan not taking off'.
December 11, 2001... NEW DELHI, Dec. 10. THE Finance Minister, Mr Yashwant Sinha, has admitted that the system of decentralised foodgrain procurement and distribution, proposed in this year's Union Budget, had not achieved the "desired level of progress." ...

India: Saregama shuts US distribution office.
December 11, 2001... KOLKATA, Dec. 10. LONDON-BASED Saregama Plc has closed down its distribution office in the US, deciding instead to source its supplies from the UK, according to sources. This is part of the cost-cutting exercise now on at Saregama India...

India: GE appoints new MD for Welch centre.
December 11, 2001... BANGALORE: The General Electric Company has announced the appointment of Mr Guillermo Wille as the new managing director of the John F. Welch Technology Centre. Mr Wille was earlier responsible for the India Design Centre set up jointly by...

India: Jindal, NKK sign technology pact.
December 11, 2001... NEW DELHI: Jindal Steel & Power Ltd (JSPL) has signed a long-term technical collaboration agreement with NKK Corporation of Japan for its upcoming rail and universal beam mill project in Chhattisgarh, according to a company release. The...

India: Vijayanagar thermal plant renamed.
December 11, 2001... BANGALORE: The 500-MW Vijayanagar Thermal Power Station, which had been allotted to the Karnataka Power Corporation (KPC), has been renamed Bellary Thermal Plant. The change of name has been made following a decision taken at the KPC's...

India: Godrej Consumer bullish on acquisitions.
December 11, 2001... MUMBAI, Dec. 10. GODREJ Consumer Products Ltd (GCPL), having identified its five brands as thrust brands, is also looking at acquisitions in some of its categories. "We are open to acquisitions that are synergistic with our...

India: South Asian Petro to sell 24 pc output locally.
December 11, 2001... NEW DELHI, Dec. 10. SOUTH Asian Petrochemicals Ltd, which is coming up with its simultaneous but unlinked public issue of five lakh equity shares of Rs 10 each at par aggregating Rs 5 crore and 96.5 lakh 14 per cent fully convertible...