Business Line articles from January 2001

Business Line archives from January 2001

India: Logica products in Point solutions.
January 31, 2001... BANGALORE: Logica India has announced that its Quaestor family of banking products is being integrated into Point Information System's new e-CRM solutions aimed at the financial services market. These channel independent solutions will...

India: Between the plug and irksome din.
January 31, 2001... HAVE you ever wondered how promotion campaigns for FMCG products have completely and totally taken over your life? Starting from the morning, you are assaulted by advertising non- stop and continuous about the merits of the products which you...

India: Money for nothing or software for free?
January 31, 2001... You are the CIO (or, in Indian parlance, the general manager, systems) of a successful organisation. Life cruises on smoothly until you get a letter from your software vendor hinting that you have not paid up for software used. In other...

India: Research is only the beginning.
January 31, 2001... MARKET research and consultancy get along well together. The first needs the latter to give meaning to numbers, while the consultancy cannot work without numbers. But seldom do you see a company that does both. Usually market research...

India: Through Windows DNA.
January 31, 2001... MICROBIOLOGISTS might be peeved. They love DNA. Now Microsoft Corp is encroaching into their territory. For Microsoft, DNA stands for Distributed interNet application Architecture. Windows DNA architecture incorporates n-tier applications...

India: Move to widen pension plan coverage.
January 31, 2001... BANGALORE, Jan. 30. THE Insurance Regulatory and Development Authority (IRDA) has been asked to provide a detailed plan for the pension schemes involving insurance companies. Briefing newspersons here on Tuesday, the IRDA Chairman, Mr N....

India: When slowdowns pay.
January 31, 2001... DOES the US technology sector slowdown portend gloom for Indian software? Are fortunes of the Indian software industry inextricably linked to IT spending in the US? Unless this slowdown intensifies into a full-blown recession over the next...

India: Shanthi Gears.
January 31, 2001... COIMBATORE: Despite a 16-per cent increase in turnover, Shanthi Gears Ltd's net profit has dipped marginally to Rs 1.27 crore for the quarter ended December 31, 2000 from Rs 1.36 crore in the same period, the previous year. While net sales...

India: Ennore - First of the corporate ports.
January 31, 2001... NEW DELHI, Jan. 30. WHEN the Prime Minister, Mr A.B, Vajpayee, cuts the ribbon to dedicate the newly-built Ennore port to the nation on February 1, he will be doing another first of sorts - flagging off a policy shift in the running of major...

India: Tech, pharma sectors lead recovery.
January 31, 2001... THE benchmark 30-share sensitive index (Sensex) witnessed a recovery on Tuesday after its sharp decline on Monday. The Sensex went up 137.47 points, or 3.25 per cent to close at 4,372.04 from the previous close of 4,234.57. The index traded...

India: Goetze board okays merger of Federal Mogul Sintered.
January 31, 2001... Aptech: The board of directors has approved the proposal to make an investment amounting to $3,356,318/10 in the equity shares of Turbograd.com Inc (to be renamed as Mentorix Technologies, Inc), constituting 37.5 per cent of the equity...

India: Concor bid for cheaper rail-water transport mode.
January 31, 2001... KOLKATA, Jan. 30. IF Container Corporation of India (Concor) has its way, exporters from Uttar Pradesh, Madhya Pradesh, Maharashtra, Gujarat and also some of the southern States can hope to have the benefit of cheaper and faster means of...

India: Orchid Chemicals.
January 31, 2001... CHENNAI: Orchid Chemicals and Pharmaceuticals Ltd registered a net profit of Rs 8.13 crore for the third quarter ended December 31, 2000, over Rs 7.99 crore recorded in the previous year period, an increase of 1.75 per cent. The turnover...

India: Dharani Sugars.
January 31, 2001... CHENNAI: Dharani Sugars and Chemicals Ltd has reported a net loss of Rs 6.58 crore on a net sales of Rs 42.45 crore for the quarter ended December 31, 2000, according to a company press release. During the previous year period it reported a...

India: Nava Bharat Ferro.
January 31, 2001... HYDERABAD: Nava Bharat Ferro Alloys Ltd has registered a net profit of Rs 21 lakh for the quarter ended December 31, 2000, down from Rs 2.11 crore in the same period, the previous year. The company incurred an expenditure of Rs 67.64 crore...

India: CFS inaugurated near Chennai port.
January 31, 2001... CHENNAI, Jan. 30. THE Chennai-based Continental Warehousing Corporation Ltd (CWCL) has inaugurated its first container freight station (CFS) at Red Hills, located about 20 km north of the Chennai port. In the first phase, the Rs 10-crore...

India: The Philippines Democratic passions rule.
January 31, 2001... IT IS not easy to decide whether the upheavals just experienced in the Philippines, which shares with India the honour of being the freest societies in Asia, represent the triumph or denial of democracy. Let it not be forgotten that however...

India: Why balancing the Budget is not easy.
January 31, 2001... There has been no attempt to analyse the anomalies and bring some order and system into the running expenses of State governments. The experience of countries such as the US is that it is impractical to balance the budget through legislative...

India: Tobacco Board to meet again on Act amendment.
January 31, 2001... GUNTUR, Jan. 30. THE Tobacco Board is meeting again on February 5 in Hyderabad to discuss the sub-committee's recommendations on amendments to the Tobacco Board Act, 1975, according to Mr K.J.B.V. Subrahmanyam, the in-charge Chairman. ...

India: EICA offers premises for quake victims.
January 31, 2001... MUMBAI: The East India Cotton Association (EICA) has offered its spacious premises in Mumbai for lodging Gujarat's quake victims, who are shifting to the city for urgent medical treatment. In Sewree, EICA has a large hall and rooms with...

India: WEST BENGAL: SER specials for quake-hit.
January 31, 2001... KOLKATA: South Eastern Railway (SER), after running two special trains to Ahmedabad on January 27 and 28, for carrying friends and relatives of victims of the Gujarat earthquake, free of charge, has reserved one special coach, free of charge,...

India: Softsell sets up US subsidiary.
January 31, 2001... BANGALORE, Jan. 30. SOFTSELL, a Bangalore-based software company, has set up a 100 per cent subsidiary in the US. The subsidiary, Lemit Inc, will build up the brand LeMiT, which is also the name of its migration product. Lemit Inc will...

India: India Today group renames e-paper.
January 31, 2001... NEW DELHI, Jan. 30. THE India Today Group Online (ITGO) on Tuesday formally announced the change in name of its e-newspaper to TheNewspaperToday.com from TheNewsToday.com. The name change happened due to a legal dispute between the India...

India: Re up 5 paise on ample supplies; securities broadly stronger.
January 31, 2001... MUMBAI. THE rupee strengthened by around five paise to close at 46.42/43 on Tuesday as compared to Monday's close at 46.4850/4950 in a supply-driven session in the forex market. Dealers said after opening at 46.4850, the rupee firmed up...

India: McKinsey buys stake in Aptech Internet.
January 31, 2001... CHENNAI, Jan. 30. MCKINSEY & Company has taken a 7-8 per cent stake in Aptech Internet, in exchange for the consultancy services rendered by the consultancy firm, Mr Ganesh Natarajan, Managing Director, Aptech Ltd, told Business Line on...

India: Corporation Bank gross up 34 pc.
January 31, 2001... MANGALORE, Jan. 30. CORPORATION Bank has registered a 34.20-per cent rise in gross profit which increased by Rs 100.38 crore from Rs 293.57 crore as on December 31, 1999, to Rs 393.95 crore as on December 31, 2000. According to a bank's...

India: Ashok Leyland Fin posts 4-pc rise in Q3 net.
January 31, 2001... CHENNAI, Jan. 30. ASHOK Leyland Finance has reported a 4-per cent increase in net profit to Rs 5.89 crore (Rs 5.67 crore) on a total income of Rs 68.01 crore (Rs 65.51 crore) for the third quarter ended December 2000. Interest charge remained...

India: TAMIL NADU: Top tax-payers awarded.
January 31, 2001... COIMBATORE: The Income-Tax Department honoured the top three tax-payers in this region- Dr J. Jayavarthanavelu, Chairman and Managing Director, Lakshmi Machine Works, Dr K.N. Rao, Surgeon, Salem and Mr P.C. Duraiswamy, Sakthi Masala, Erode...

India: German co plans Hyderabad ODC.
January 31, 2001... HYDERABAD: The German IT major, PASS Consulting Group, located in Frankfurt and engaged in banking and insurance- related solutions, plans to establish a software development centre in Hyderabad. PASS India plans to position itself as an...

India: QAI launches SoftwareDioxide.com.
January 31, 2001... NEW DELHI: QAI India Ltd, a joint venture between US-based QAI and domestic management consultancy firm, INTECOS, has launched SoftwareDioxide.com, a digital exchange for the software industry. "SoftwareDioxide.com is going to be a place...

India: Siemens arm unveils new MSB version.
January 31, 2001... BANGALORE, Jan. 30. SIEMENS Communication Software, the development division of Siemens Public Communication Networks Ltd, has released a new Internet-enabled version of the Multifunctional Switch Board (MSB) V5. MSB, the console used by...

India: Maran urges States to promote exports.
January 31, 2001... CHENNAI, Jan. 30. THE Commerce and Industry Minister, Mr Murasoli Maran, today called upon State Governments to involve themselves in promoting exports from the country. At an open house meeting of exporters organised here by the...

India: Airlines registered here can be national carrier: CII.
January 31, 2001... NEW DELHI, Jan. 30. THE Confederation of Indian Industry (CII) has suggested that the Ministry of Civil Aviation work towards changing the rules relating to definition of a designated Indian carrier as a way of getting over the controversy of...

India: Inflation Watch.
January 31, 2001... THE annual rate of inflation measured in terms of the wholesale price index (WPI) on a point-to-point basis remained static for the third consecutive week at 8.16 per cent for the latest recorded week ended January 13, 2001. With this, the...

India: Oxygen supply from Praxair.
January 31, 2001... CHENNAI, Jan. 30. PRAXAIR India Ltd has launched a 24-hour medical oxygen service in Chennai. The service was kicked off by the Chennai Corporation Commissioner, Dr J. Radhakrishnan. Mr Indrajit Mookherjea, Managing Director, Praxair...

India: I-T Dept HR drive to revamp image.
January 31, 2001... KOLKATA, Jan. 30. THE Income-Tax Department, under an MoU with the Department of Revenue in the Finance Ministry, has decided to go in for major restructuring of all areas of departmental work. Participating in an interactive session on...

India: India needs to speed up technology.
January 31, 2001... BANGALORE, Jan. 30. INDIA needs to speed up the process of technology promotion with appropriate policies and infrastructure support, the Space Commission Member, Dr U.R. Rao, has suggested. "The developing world today takes 10-12 years...

India: Blue Star.
January 31, 2001... Blue Star Ltd has reported a 16.5-per cent rise in net profit at Rs 1.27 crore in the third quarter ended December 31, 2001 against Rs 1.09 crore in the previous year period. The audited figures for the accounting year ended March 31,...

India: Wellwin Ind.
January 31, 2001... CHENNAI: Wellwin Industry Ltd has reported a net profit of Rs 2.37 crore on a net sales of Rs 23.33 crore for the first quarter ended December 31, 2000, according to a company press release. During the corresponding period previously, the net...

India: ASE limps back to normalcy.
January 31, 2001... AHMEDABAD, Jan. 30. THE Ahmedabad Stock Exchange (ASE) broking community tried to come to grips with the rough and tumble of the bourses once again even as more tremors continued to rock the city for the fourth consecutive day. Some 500...

India: Elder Pharma.
January 31, 2001... Elder Pharmaceuticals Ltd has registered a 70.8 per cent growth in net profit at Rs 2.05 crore in the third quarter ended December 31, 2000 as against Rs 1.20 crore in the corresponding period last year. Total income has increased to Rs...

India: Oil PSUs to donate Rs 40 cr for quake relief.
January 31, 2001... MUMBAI, Jan. 30. ALL public sector oil companies will contribute Rs 40 crore towards the Prime Minister's relief fund to help those affected by the Gujarat earthquake. "An additional quota of 45,000 kilolitres of kerosene has been made...

India: Denso to invest additional Rs 100 cr in Indian arm.
January 31, 2001... NEW DELHI, Jan. 30. DENSO Corporation of Japan is expected to invest a further Rs 100 crore for the setting up of a second fuel injector manufacturing facility in Gurgaon, near Delhi. The additional investments will be routed through the...

India: Coke targets 10% growth in S. India with special promo.
January 31, 2001... NEW DELHI, Jan. 30. COCA-COLA India has extended its 'World of Coca-Cola campaign' to its second phase in Chennai. Prior to Chennai, the campaign was on in Bangalore, Coimbatore and Mysore. According to company officials, the campaign is...

India: SAIL cuts losses by 66%.
January 31, 2001... NEW DELHI: Steel Authority of India Ltd (SAIL) has cut its losses by nearly 66 per cent, having incurred a loss of Rs 698 crores during the first three quarters of the current fiscal (April-December 2000), as against a loss of Rs 2,049 crores...

India: Geojit signs MoU with UAE brokerage house.
January 31, 2001... MUMBAI, Jan. 30. THE Kochi-based retail broking firm, Geojit Securities Ltd, is setting up an overseas venture jointly with a UAE partner to provide broking and depository services to NRIs in the Gulf countries. The company has signed an...

India: MRTPC adjourns cement cos' case to March 15.
January 31, 2001... NEW DELHI, Jan. 30. THE Monopolies & Restrictive Trade Practices Commission (MRTPC) has adjourned the matter filed by Director (Research) against five major cement companies - Gujarat Ambuja Cements Ltd, ACC Ltd, Larsen & Toubro Ltd, India...

India: Raymond acquires AV Birla division.
January 31, 2001... MUMBAI: Raymond Ltd has acquired the files division of the A.V. Birla group company, HGI Industries. The two companies have signed a memorandum of understanding (MoU) for the transfer of HGI's plant in Kolkata to Raymond for a consideration...

India: L&T third-quarter net rises 72 pct.
January 31, 2001... MUMBAI, Jan. 30. LARSEN & Toubro has reported a 72 per cent jump in net profit at Rs 33.29 crore for the three months ended December 31, 2000, from Rs 19.34 crore in the corresponding period of the previous year. Net sales grew over 12...

India: Adani - Samaritan in rural Kutch.
January 31, 2001... AHMEDABAD, Jan. 30. IT IS the Adani group, with stakes in Kutch, that has emerged as a major corporate rallying point for taking aid to the quake affected. Mr Gautam Adani, Chairman of the group, established contact with the Mundra port...

India: MRPL's Q3 net loss up 3 pc.
January 31, 2001... MUMBAI, Jan. 30. MANGALORE Refinery and Petrochemicals Ltd (MRPL) has registered a net loss of Rs 57.93 crore for the third quarter ended December 31, 2000, up by three per cent over Rs 56.34 crore for the corresponding period last year. ...

India: CESC posts Rs 31-cr loss.
January 31, 2001... KOLKATA: CESC Ltd has increased its cash profit (before depreciation and taxes) by Rs. 29 crores during the third quarter of the current fiscal. The net loss was Rs. 31 crores on a turnover of Rs 463 crore (including other income of Rs 24...

India: Stakeholders sign pact for credit bureau equity.
January 31, 2001... MUMBAI, Jan. 30. THE stakeholders of Credit Information Bureau (India) Ltd (CIBIL) on Tuesday signed the shareholders' agreement to subscribe to the equity of the company. CIBIL is likely to commence business in the second half of the...

India: 53 apply for basic phone services.
January 31, 2001... NEW DELHI, Jan. 30. WITH Aircel Ltd. today applying for the Tamil Nadu circle, the total number of applications for the new basic service licences now stands at 53. While the Department of Telecommunications (DoT) received 52...

India: Tata Chem.
January 31, 2001... MUMBAI: Tata Chemicals Ltd has recorded a net profit of Rs 251.82 crore for the third quarter ended December 31, 2000, up by 125 per cent over Rs 111.82 crore for the same period last year. Net sales and operating income was Rs 377.70 crore...

India: 'Outgoing calls from Gujarat free'.
January 31, 2001... MUMBAI, Jan. 30. THE Union Minister for Communications, Mr Ram Vilas Paswan, has announced that all outgoing calls - local, STD and ISD - from Gujarat have been made free until networks are restored. "As of now, only outgoing traffic has...

India: The children who refuse to go back home.
January 31, 2001... AHMEDABAD, Jan. 30. AHMEDABAD city looks like a pale shadow of its original self. As IC 610 from Mumbai makes the final approach to land at the Sardar Vallabhai Patel Airport at 8.45 p.m., those familiar with the city can spot the dark areas...

India: ADB announces $350-m quake assistance.
January 31, 2001... NEW DELHI, Jan. 30. CLOSE on the heels of the World Bank's announcement of an immediate release of $300 million to the quake victims of Gujarat, the Asian Development Bank's President, Mr Tadao Chino, today announced that the Bank would...

India: Bank of India: Cutting equity base?
January 31, 2001... The possibility of Bank of India buying back some of its equity from the Government of India could lead to a firm undertone in the stock price. The top management had indicated that the move was to reduce Government stake and improve per...

India: US to review grant of GSP to India.
January 31, 2001... CHENNAI, Jan. 30. THE US Trade Representative (USTR) is considering discontinuing the Generalised System of Preferences (GSP) for India. This review has been taken up because the American National Soda Ash Corporation (ANSAC) has complained...

India: Bank, insurance support worked out.
January 30, 2001... NEW DELHI, Jan. 29. THE Ministry of Finance has worked out broad plans for extending banking and insurance support to the victims of the Gujarat earthquake. While a nine-member team of bankers headed by the Chairman and Managing...

India: Indian Hotels net up at Rs 40.18 cr.
January 30, 2001... MUMBAI, Jan. 29. INDIAN Hotels Company Ltd (IHCL) has registered a rise in profit after tax at Rs 40.18 crore in the third quarter ended December 31, 2000 as against Rs 33.28 crore for the corresponding period last year. Total income...

India: Damage reported at HLL, Digvijay units.
January 30, 2001... MUMBAI, Jan. 29. FRIDAY'S earthquake, which left a trail of devastation across Gujarat, has also affected the functioning of some industrial facilities, including those of leading blue-chip companies. FMCG major Hindustan Lever Ltd (HLL)...

India: Bank of India plans to buy back Govt equity.
January 30, 2001... MUMBAI, Jan. 29. BANK of India (BoI) proposes to buy back a portion of the 76 per cent equity held by the Government. The move is aimed at reducing the Government stake as well as to improve the earnings per share. "To enable the...

India: Panel to discuss VSNL, CMC divestment.
January 30, 2001... NEW DELHI, Jan. 29. THE Department of Disinvestment (DoD) has wrested a major concession from the Union Communications Minister, Mr Ram Vilas Paswan, by making him agree for a minority and strategic sale of Government equity in Videsh Sanchar...

India: IDBI net profit higher at Rs 154.8 cr in Q3.
January 30, 2001... MUMBAI, Jan. 29. INDUSTRIAL Development Bank of India (IDBI) has recorded a net profit of Rs 154.8 crore for the third quarter ended December 31, 2000 compared to Rs 140.5 crore for the three-month period ended December 31, 1999. The...

India: Cyanamid Agro/BASF : Synergistic merger.
January 30, 2001... THE announcement of a possible merger of Cyanamid Agro with BASF India may provide a near term boost to the stocks of both companies. Cyanamid Agro has announced a board meeting for this purpose on January 31. This reflects a similar...

India: Ashok Leyland : Buyback on hold.
January 30, 2001... THE decision of Ashok Leyland to put its stock buyback plan on hold may not have an adverse bearing on the stock price. The improvement in profitability in the third quarter despite lower volumes could impart some support to the stock price....

India: UTI Bank/Global Trust : Swapping influence.
January 30, 2001... THE swap ratio fixed for the UTI Bank - Global Trust Bank merger may lead to some changes in the relative prices of the two stocks. The merger ratio is more favourable for Global Trust Bank than indicated by the stock prices at the end of...

India: Dry cells dumping duty : Flat charge.
January 30, 2001... THE imposition of anti-dumping duty on dry cells is unlikely to have any significant bearing on share prices of domestic battery producers such as Eveready, Indo National, Lakhanpal National and BPL. Though the move would provide some relief...

India: Telecom tribunal declines stay on limited mobility.
January 30, 2001... NEW DELHI, Jan. 29. THE Telecom Dispute Settlement Appellate Tribunal today adjourned to February 21 the hearing of a petition filed by the cellular operators, even as it allowed the basic operators to provide limited mobile services pending...

India: Alliance Air operates additional flights to Bhuj.
January 30, 2001... MUMBAI, Jan. 29. ALLIANCE Air, the fully-owned subsidiary of Indian Airlines, today operated two additional flights from Mumbai to Bhuj and two shuttle services between Ahmedabad and Bhuj, as part of IA's efforts to step up relief operations...

India: IBRD offering $300-m near-term aid.
January 30, 2001... NEW DELHI, Jan. 29. THE Government is set to receive assistance aggregating $300 million from the World Bank in the near-term for immediate relief measures in Gujarat. The balance - of the $1 billion which the Government had sought from...

India: FICCI puts loss at Rs 25,000 cr.
January 30, 2001... NEW DELHI, Jan. 29. THE Federation of Indian Chambers of Commerce and Industry (FICCI) has estimated that damages due to the quake in Gujarat to be about Rs 25,000 crore. FICCI has contacted a number of its constituents and member bodies...

India: SWC creditors to be paid tomorrow.
January 30, 2001... KOLKATA, Jan. 29. THE joint Special Officers appointed by the Calcutta High Court will be disbursing payments to 106 creditors of Shaw Wallace & Co Ltd on January 31. According to the SWC management, this is as per an order passed by Mr...

India: Tata Power Q3 net at Rs 101 cr.
January 30, 2001... MUMBAI, Jan. 29. NET profit of the Tata Power Co Ltd for the third quarter ended December 31, 2000 was Rs 101.56 crore against Rs 48.97 crore for the same period last year. Financial results for the quarter and nine months ended December 31,...

India: Cement cos to help, but no price roll-back.
January 30, 2001... KOLKATA, Jan. 29. CEMENT companies are to participate in the reconstruction of earthquake-ravaged areas of Gujarat "in cash and kind," but will not roll back prices, as obtaining now after hikes. Mr R. Parthasarathy, Secretary-General of...

India: From the rubble, onward to Chennai.
January 30, 2001... MUMBAI, Jan. 29. SEVENTY-year-old Manju Ben Kadoi is a veteran of the earthquake that hit Anjar in Gujarat 50 years ago. "Not only that, I have seen periods of distress such as the frightening blackouts during World War II. But I have not...

India: Cement price a 'sensitive' issue.
January 30, 2001... MUMBAI, Jan. 29. CEMENT manufacturers, recently accused of cartelisation and artificial pricing, are fighting shy of commenting on rise in demand and possibly price, that reconstruction activity in quake-ravaged Gujarat is expected to...

India: It's business as usual on bourses.
January 30, 2001... MUMBAI, Jan. 29. THE transactions at the country's two major bourses, the Bombay Stock Exchange and National Stock Exchange, on Monday seemed to be unaffected by the earthquake in Gujarat even though operations at many of the companies listed...

India: Cos, others extending assistance.
January 30, 2001... MUMBAI, Jan. 29. SEVERAL companies, banks and other organisations have come forward to extend financial and other assistance to the quake victims in Gujarat. Tata Steel said it will be sending 320 units of blood directly to Bhuj. The...

India: REC aid for repair of power lines.
January 30, 2001... NEW DELHI: Rural Electrification Corporation (REC) has sanctioned an ad-hoc assistance of Rs 100 crore to the Gujarat Electricity Board for replacement and repairs of damaged power distribution infrastructure in the earthquake affected areas....

India: BSES net falls in third quarter.
January 30, 2001... MUMBAI, Jan. 29. BSES Ltd has reported a lower net profit for the third quarter ended December 31, 2000, at Rs 76.87 crore compared to the net profit of Rs 80.89 crore reported in the three-month period ended December 31, 1999. A company...

India: CLP Power unit escapes damage.
January 30, 2001... BANGALORE, Jan. 29. CLP Power's Phaguthan power plant has escaped damage from the killer earthquake that swept Gujarat last Friday. CLP Power officials said the 655-MW plant was completely safe from any damage. The officials said the...