Business Line articles from May 2006

Business Line archives from May 2006

Hero Honda net up 29%; plans 3rd plant in Jaipur.
May 31, 2006... (From Business Line) from BUSINESS LINE, May 31, 2006 New Delhi, May 30 - Hero Honda Motors on Tuesday reported a 29-per-cent jump in its net profit for the fourth quarter and announced its plans to set up a new plant in Jaipur at an...

Oil PSU officers defer strike till July 17.
May 31, 2006... (From Business Line) from BUSINESS LINE, May 31, 2006 New Delhi, May 30 - Officers of public sector oil companies have postponed their proposed indefinite strike to July 17, as the Delhi High Court has issued notices to the Centre and...

Tata Chemicals Q4 net profit declines 42 pc.
May 31, 2006... (From Business Line) from BUSINESS LINE, May 31, 2006 Mumbai, May 30 - In results declared on Tuesday Tata Chemicals Ltd (TCL) showed 42.03 per cent decline in profit after tax for the quarter ended March 31, 2006, at Rs 64.42 crore from...

MARS launches Doxofylline.
May 31, 2006... (From Business Line) from BUSINESS LINE, May 31, 2006 Hyderabad, May 30 - MARS Therapeutics & Chemicals Ltd has announced the launch of its first European research molecule - Doxofylline- useful in the treatment of asthma and respiratory...

GE aims to grow eight-fold in India: Immelt.
May 31, 2006... (From Business Line) from BUSINESS LINE, May 31, 2006 Mumbai, May 30 - General Electric Company has targeted revenues of $8 billion and assets of $8 billion in India for 2010 The multinational will focus on sectors such as energy,...

Petrol, diesel prices may go up by Rs 2-3.
May 31, 2006... (From Business Line) from BUSINESS LINE, May 31, 2006 New Delhi, May 30 - A decision on revision of domestic fuel prices could be expected in the next two days (Thursday or Friday) Indications are that the prices of petrol and diesel...

Bombay Dyeing Q4 net loss doubles.
May 31, 2006... (From Business Line) from BUSINESS LINE, May 31, 2006 Mumbai, May 30 - Bombay Dyeing & Manufacturing Company Ltd on Tuesday posted a net loss of 115 per cent at Rs 7.40 crore for the quarter ended March 31, 2006, as compared to a net...

REI Agro net profit up 8.38 % in Q4.
May 31, 2006... (From Business Line) from BUSINESS LINE, May 31, 2006 New Delhi, May 30 - Agriculture company REI Agro Ltd has registered a 8.38 per cent increase in its net profit at Rs 14.23 crore for the fourth quarter ended March 31, compared to Rs...

Uttam Galva Q4 net down 16 pc.
May 31, 2006... (From Business Line) from BUSINESS LINE, May 31, 2006 Mumbai, May 30 - Uttam Galva Steels Ltd has reported 16 per cent fall in fourth-quarter net profit to Rs 31.10 crore (Rs 26.05 crore) "Our bottomline has been affected due to...

Cairn gets nod for field development plans.
May 31, 2006... (From Business Line) from BUSINESS LINE, May 31, 2006 New Delhi, May 30 - Cairn Energy today said that the management committee comprising the Directorate General - Hydrocarbons, ONGC and Cairn, has given its nod to the field development...

Rajesh Exports turnover up 29%.
May 31, 2006... (From Business Line) from BUSINESS LINE, May 31, 2006 Bangalore, May 30 - The turnover of Rajesh Exports Ltdfor the financial year 2005-06 has touched Rs 5,483.6 crore, a growth of 29.11 per cent. The company declared a dividend of Rs 2...

Re touches new six-month low.
May 31, 2006... (From Business Line) from BUSINESS LINE, May 31, 2006 Mumbai, May 30 - Continuing its downward movement, the rupee on Tuesday touched a new low against the US dollar in six months Selling by FIIs in equities and a fear of dollar...

Lanco picks up 74 pc in Nagarjuna Power Plant.
May 31, 2006... (From Business Line) from BUSINESS LINE, May 31, 2006 Hyderabad, May 30 - The Hyderabad-based Rs 2,500-crore Lanco Group has picked up a 74 per cent stake in the Rs 4,300-crore, 1,015-MW, coal-fired, Nagarjuna Power Plant at Mangalore in...

Panipat refinery doubles its capacity.
May 31, 2006... (From Business Line) from BUSINESS LINE, May 31, 2006 New Delhi, May 30 - The flagship refinery of Indian Oil Corporation at Panipat has doubled its refining capacity from 6 MMTPA to 12 MMTPA, to further strengthen its market base in the...

JSPL close to acquiring Bolivian mines.
May 31, 2006... (From Business Line) from BUSINESS LINE, May 31, 2006 New Delhi, May 30 - Jindal Steel and Power Ltd's plan to acquire the El Mutun iron ore mines in Bolivia is at a very advanced stage and the final decision would depend on the terms...

'IT sector luring tech manpower from manufacturing'.
May 31, 2006... (From Business Line) from BUSINESS LINE, May 31, 2006 Coimbatore, May 30 - The manufacturing industry is deprived of technology manpower as the IT sector lures them away. The situation arising out of shortage of skilled manpower is...

Tata Power charts Rs 18,000-cr capex plan.
May 31, 2006... (From Business Line) from BUSINESS LINE, May 31, 2006 Mumbai, May 30 - Tata Power Company has drawn up a capital expenditure plan of Rs 18,000 crore on what it called its "significant and aggressive growth plans" to increase its capacity...

REL seeks to ensure gas supply from KG Basin.
May 31, 2006... (From Business Line) from BUSINESS LINE, May 31, 2006 New Delhi, May 30 - Reliance Energy Ltd (REL), an Anil Ambani Group company, has knocked at the doors of the Petroleum Ministry to ask GAIL (India) Ltd to ensure availability of gas...

Oil Ministry told to rationalise duty structure.
May 31, 2006... (From Business Line) from BUSINESS LINE, May 31, 2006 New Delhi, May 30 - The Ministry for Petroleum and Natural Gas has been asked by a Parliamentary panel to consider rationalisation of existing tax structure - excise and customs - on...

Shefexil urged to go for value addition to boost lac export.
May 31, 2006... (From Business Line) from BUSINESS LINE, May 31, 2006 Kolkata, May 30 - Keeping in view the export potential of Indian shellac, the Ministry of Commerce has urged the Shellac Export and Forest Products Export Promotion Council...

Hughes plans 1,000 broadband kiosks this year.
May 31, 2006... (From Business Line) from BUSINESS LINE, May 31, 2006 New Delhi, May 30 - US-based communication firm Hughes Communication will roll out 1,000 broadband kiosks across the country this year. The broadband kiosks will be linked using...

NIIT course on Sun tech.
May 31, 2006... (From Business Line) from BUSINESS LINE, May 31, 2006 New Delhi, May 30 - NIIT Ltd plans to add 85 new training centres in the country and globally with an investment of Rs 20 crore. While 60 centres would be set up in the country,...

JK Lakshmi net profit up 113 pc.
May 31, 2006... (From Business Line) from BUSINESS LINE, May 31, 2006 New Delhi, May 30 - JK Lakshmi Cement on Tuesday reported a 113 per cent growth in its net profit at Rs 55 crore during 2005-06, as against Rs 26 crore during the previous year ...

Sierra to expand product development.
May 31, 2006... (From Business Line) from BUSINESS LINE, May 31, 2006 Hyderabad, May 30 - Sierra Atlantic, a technology solutions provider, has drawn plans to expand its outsourced product development services offering for independent software vendors...

DLF Universal net up at Rs 199.4 cr.
May 31, 2006... (From Business Line) from BUSINESS LINE, May 31, 2006 New Delhi, May 30 - DLF Universal has announced a net profit of Rs 199.4 crore for the year ended March 2006, as against Rs 83.7 crore in the previous year, and said that its proposed...

Nasscom BPO meet to focus on growth, competition.
May 31, 2006... (From Business Line) from BUSINESS LINE, May 31, 2006 Bangalore, May 30 - Is the ten-year-old Indian BPO industry facing a mid-life crisis? Managing growth and combating competition will be among the key issues that will be debated at...

Intelenet opens new facility in Chennai.
May 31, 2006... (From Business Line) from BUSINESS LINE, May 31, 2006 Chennai, May 30 - Intelenet Global Services Pvt Ltd, a business process outsourcing company jointly owned by HDFC Ltd and Barclays Bank of the UK, has ramped up its Chennai...

'Make NIXI more effective'.
May 31, 2006... (From Business Line) from BUSINESS LINE, May 31, 2006 New Delhi, May 30 - In a bid to improve the effectiveness of the National Internet Exchange of India (NIXI), the TRAI today recommended various measures including setting up NIXI...

Rush for H1B visas unabated.
May 31, 2006... (From Business Line) from BUSINESS LINE, May 31, 2006 New Delhi, May 30 - The rush for H-1B visa continues unabated with US Citizenship and Immigration Services (USCIS) receiving 49,034 H-1B applications as on May 25, 2006, against the...

SQL Star opts for franchisees.
May 31, 2006... (From Business Line) from BUSINESS LINE, May 31, 2006 Hyderabad, May 30 - SQL Star International Ltd has announced its plans to expand its Knowledge Enterprise Services business through a franchisee route The company, which currently...

Datawind unveils 'PocketSurfer'.
May 31, 2006... (From Business Line) from BUSINESS LINE, May 31, 2006 New Delhi, May 30 - Datawind Corporation, a Canada-based provider of wireless Web access products and services, today launched 'PocketSurfer' a wireless Web access device in India....

US retail chain Steve & Barry's in revamp mode.
May 31, 2006... (From Business Line) from BUSINESS LINE, May 31, 2006 Coimbatore, May 30 - America's fastest growing retail chain Steve & Barry's University Sportswear is on a revamp mode. "It would soon turn out to be a 'complete' departmental store,"...

Crest Animation in pact with Marathon.
May 31, 2006... (From Business Line) from BUSINESS LINE, May 31, 2006 Mumbai, May 30 - Crest Animation Studios Ltd said it has signed a deal with Marathon, a French production house, for a 52-episode TV series with a project size of $18 million This...

Restaurant chain TGI Friday's plans expansion.
May 31, 2006... (From Business Line) from BUSINESS LINE, May 31, 2006 New Delhi, May 30 - Restaurant chain TGI Friday's has picked up a 25.1 per cent stake in its Indian master franchisee firm, Bistro Hospitality (P) Ltd, for an undisclosed sum TGI...

Samsung hopes to sell 1 lakh LCD sets this year.
May 31, 2006... (From Business Line) from BUSINESS LINE, May 31, 2006 Mumbai, May 30 - Samsung India has launched its advanced 'Bordeaux' series of LCD panels in the domestic market. The range is available in 26-, 32- and 40-inch screen sizes At a...

Shoppers' Stop plans to bring in more international brands.
May 31, 2006... (From Business Line) from BUSINESS LINE, May 31, 2006 Mumbai, May 30 - Shoppers' Stop is planning to ramp up the presence of its international brands at its stores Currently the licensee brands comprise only 5 per cent of its total...

Corporation Bank launches new product.
May 31, 2006... (From Business Line) from BUSINESS LINE, May 31, 2006 Bangalore, May 30 - Corporation Bank intends making its inter bank funds transfer arrangements international Speaking to reporters at the launch of the bank's inter bank funds...

JNIDB plans foray into consultancy, research.
May 31, 2006... (From Business Line) from BUSINESS LINE, May 31, 2006 Hyderabad, May 30 - The Jawaharlal Nehru Institute for Development Banking (JNIDB), promoted by the Industrial Development Bank of India (IDBI) for developing human resources in the...

Banks selling non-SLR bonds.
May 31, 2006... (From Business Line) from BUSINESS LINE, May 31, 2006 Bangalore, May 30 - Major banks have begun selling their non-SLR (statutory liquidity ratio) investments in anticipation of a tight liquidity situation Bankers said that they were...

SBI ties up with CARE India.
May 31, 2006... (From Business Line) from BUSINESS LINE, May 31, 2006 New Delhi, May 30 - State Bank of India (SBI) and development agency, CARE India, have announced a strategic partnership to scale up the latter's efforts in micro-finance. As part of...

Bank of Baroda fined Rs 5 lakh.
May 31, 2006... (From Business Line) from BUSINESS LINE, May 31, 2006 Mumbai, May 30 - The Reserve Bank of India on Tuesday imposed a fine of Rs 5 lakh on Bank of Baroda for violation of SLR and CRR norms. According to the RBI, the bank "had netted...

Kalam urges SBI to step up agri credit.
May 31, 2006... (From Business Line) from BUSINESS LINE, May 31, 2006 New Delhi, May 30 - The President, Mr A.P.J. Abdul Kalam, has urged the State Bank of India to increase the loan allocation to the agricultural sector so that it can achieve over four...

Call rate remains steady.
May 31, 2006... (From Business Line) from BUSINESS LINE, May 31, 2006 Mumbai, May 30 - Call rates continued to hold steady at 5.5-5.6 per cent, owing to good liquidity. In the first one-day reverse repo auction under LAF, the Reserve Bank of India...

Bond prices fall 5 paise.
May 31, 2006... (From Business Line) from BUSINESS LINE, May 31, 2006 Mumbai, May 30 - The bond market was dull with prices falling about 5 paise since Monday's close. While the negatives continued to be fears of a likely hike in domestic fuel prices...

V-Adalat for Vijaya Bank's NPA issues.
May 31, 2006... (From Business Line) from BUSINESS LINE, May 31, 2006 Mangalore, May 30 - Vijaya Bank is planning to introduce 'Vijaya Adalat' (V-Adalat) on the lines of Lok Adalat to tackle the NPA menace Addressing presspersons here on Monday, Mr...

Coast Guard, Navy rescue crew members of Ocean Sekaya.
May 31, 2006... (From Business Line) from BUSINESS LINE, May 31, 2006 Mangalore, May 30 - The Indian Coast Guard and Indian Navy have rescued 20 crew members of a sinking ship at Karwar Port in the Uttara Kannada district on Tuesday The Coast Guard...

SCI jt venture proposal with ONGC in limbo?
May 31, 2006... (From Business Line) from BUSINESS LINE, May 31, 2006 Kolkata, May 30 - With the exit of Mr Subir Raha from Oil and Natural Gas Corporation (ONGC), the fate of the ONGC-SCI joint venture, it seems, has become somewhat uncertain. Perhaps...

Chennai Customs House to have risk management system.
May 31, 2006... (From Business Line) from BUSINESS LINE, May 31, 2006 Chennai, May 30 - The Risk Management System (RMS), an electronic system to clear consignment, will be introduced at Chennai Custom House from May 31 With this, the present...

Blue Dart adds Boeing 757 to fleet.
May 31, 2006... (From Business Line) from BUSINESS LINE, May 31, 2006 Mumbai, May 30 - Blue Dart Express Ltd (BDEL) on Tuesday informed the addition of two leased Boeing 757 freighters to the fleet of its 40 per cent associate, Blue Dart Aviation Ltd...

Port, dock workers to get 20% bonus.
May 31, 2006... (From Business Line) from BUSINESS LINE, May 31, 2006 Kochi, May 30 - In accordance with the understanding arrived at between the Indian Ports Association (IPA) and five recognised federations of port and dock workers, employees in the...

Technical correction hits spot rubber.
May 31, 2006... (From Business Line) from BUSINESS LINE, May 31, 2006 Kottayam, May 30 - The rubber market was hit by the much-waited technical correction on Tuesday. A sharp fall in the Japanese futures and the absence of genuine and quantity buyers at...

Weather cover launched for grape growers.
May 31, 2006... (From Business Line) from BUSINESS LINE, May 31, 2006 Pune, May 30 - ICICI Lombard General Insurance has launched a weather insurance policy for grape cultivators in the Pune, Nashik, Solapur and Sangli districts of Maharashtra to help...

Tata Coffee to tie up with Beeyu Overseas.
May 31, 2006... (From Business Line) from BUSINESS LINE, May 31, 2006 Bangalore, May 30 - Tata Coffee is setting up a marketing joint venture with Beeyu Overseas Ltd for sale of its instant coffee products in the global market. Tata Coffee will hold a...

Vanilla growers face bleak prospects.
May 31, 2006... (From Business Line) from BUSINESS LINE, May 31, 2006 Kochi, May 30 - A good vanilla crop in Madagascar this year, coupled with increased output in new producing countries, on one hand, and poor demand position, on the other, is likely...

RBD palmolein moves higher.
May 31, 2006... (From Business Line) from BUSINESS LINE, May 31, 2006 Mumbai, May 30 - RBD palmolein prices moved up on the local edible oil market on Tuesday on emergence of some buying amid reduced offering. Imported crude soya oil was steady at Rs...

Swap ratio set for TAC, SPIC merger.
May 31, 2006... (From Business Line) from BUSINESS LINE, May 31, 2006 Chennai, May 30 - Shareholders of Tuticorin Alkali Chemicals & Fertilisers (TAC) will get five equity shares in Southern Petrochemical Industries Corporation (SPIC) for every eight...

Indo-US action plan to step up bilateral trade.
May 31, 2006... (From Business Line) from BUSINESS LINE, May 31, 2006 New Delhi, May 30 - India and the US on Tuesday agreed on an action plan to step up bilateral trade to approximately $60 billion in three years from the extant level of $30 billion...

Online service for small savings launched.
May 31, 2006... (From Business Line) from BUSINESS LINE, May 31, 2006 New Delhi, May 30 - The Finance Minister, Mr P. Chidambaram, on Tuesday launched a Web site of the National Savings Institute (NSI) for dissemination of information and online redress...

Buyers returning to carbon credit market.
May 31, 2006... (From Business Line) from BUSINESS LINE, May 31, 2006 New Delhi, May 30 - European buyers have slowly started returning to the Indian carbon credit market, though the "level of activity" appears to be relatively lower than what it was in...

'Withdraw CVD on imported tyres'.
May 31, 2006... (From Business Line) from BUSINESS LINE, May 31, 2006 Kolkata, May 30 - The All India Tyre Dealers Federation (AITDF) on Tuesday demanded withdrawal of 16 per cent countervailing duty (CVD) on imported tyres. The total incidence of...

Doctors' strike.
May 31, 2006... (From Business Line) from BUSINESS LINE, May 31, 2006 Now that the Supreme Court is seized of the issue of reservation, one hopes that by the time this column appears, the striking doctors and medical students would have called off the...

Saving the Serendip.
May 31, 2006... (From Business Line) from BUSINESS LINE, May 31, 2006 On May 21, 1991, a suicide bomber strapped with explosives, deputed by the LTTE Chief, Velupillai Prabhakaran, blew herself up and assassinated the former Prime Minister, Rajiv...

Bell plans pilot training facility in India.
May 31, 2006... (From Business Line) from BUSINESS LINE, May 31, 2006 Dallas, Fort Worth (US), May 30 - The US-based helicopter manufacturer, Bell, is keen to set up a pilot training facility in India "We are keen to set up the training centre...

Is IPO scam a thing of the past?
May 31, 2006... (From Business Line) from BUSINESS LINE, May 31, 2006 IPO, as a topic, more so with a 'scam' tag, has been gobbling up many a column centimetre in newspapers. To those who ask what IPO scams are, here's a zero base to help IPO, as...

For a healthy food chain.
May 31, 2006... (From Business Line) from BUSINESS LINE, May 31, 2006 The "development package" of the Prime Minister rooted in the three I's of investment, infrastructure and implementation must find acceptance across the broad spectrum of producers...

Statistics may not tell the real tale.
May 31, 2006... (From Business Line) from BUSINESS LINE, May 31, 2006 The Union Minister for Agriculture, Consumer Affairs, Food and Public Distribution, Mr Sharad Pawar, speaking at a meeting in Pune on May 8, categorically stated that suicides by...

Failure on the farm.
May 31, 2006... (From Business Line) from BUSINESS LINE, May 31, 2006 The pervasive and entrenched problems of agriculture demand a policy re-think If there is a sense deja vu in the speeches of the Prime Minister and other senior Government...

Gold, silver move higher.
May 31, 2006... (From Business Line) from BUSINESS LINE, May 31, 2006 Mumbai, May 30 - Precious metals moved up on the local bullion market on Tuesday Standard gold prices were up Rs 75 at Rs 9,755 per 10 gm from the previous close of Rs 9,680. Pure...

Bombay Yarn Exchange plans online futures.
May 31, 2006... (From Business Line) from BUSINESS LINE, May 31, 2006 Mumbai, May 30 - Bombay Yarn Merchants' Association and Exchange Ltd, one of the oldest and largest yarn merchants' associations, is planning to offer online futures trading The...

JSW Group bets big on aluminium foray.
May 31, 2006... (From Business Line) from BUSINESS LINE, May 31, 2006 Mumbai, May 30 - Its proposed foray into aluminium would cost the JSW Group nearly Rs 9,500 crore. Known for its presence in steel, JSW has based its diversification on an expected 50...

Value buying in Indraprastha Gas.
May 31, 2006... (From Business Line) from BUSINESS LINE, May 31, 2006 Indraprastha Gas Ltd has been attracting some value buying on the back of its expansion plans in its distribution network On Tuesday, the stock reached a high of Rs 137.40, before...

Beeyu Overseas betting on jt venture.
May 31, 2006... (From Business Line) from BUSINESS LINE, May 31, 2006 The BSE-listed Beeyu Overseas stock seems to be looking up from its recent low of Rs 10.75, drawing strength from the belief that the company will in the near future be able to...

Toning up 'private morality'.
May 31, 2006... (From Business Line) from BUSINESS LINE, May 31, 2006 The system of peerages is not a part of the Indian republic's social structure, but to point this out is not to imply that the malaise does not exist in India Paul Johnson,...

Investment buying in material handling, mining equipment stocks.
May 31, 2006... (From Business Line) from BUSINESS LINE, May 31, 2006 Mumbai, May 30 - The stocks of mining and material handling equipment have been witnessing investment-based buying on the bourses on the back of the Government thrust on...

Vigneshwara Exports fixes IPO price band at Rs 121-140.
May 31, 2006... (From Business Line) from BUSINESS LINE, May 31, 2006 Mumbai, May 30 - Vigneshwara Exports Ltd, a company dealing with home textile business, has announced its initial public offering to enter the capital market on June 7 through the...

Sahara MF chief resigns.
May 31, 2006... (From Business Line) from BUSINESS LINE, May 31, 2006 Kolkata, May 30 - Mr Rajiv Shastri, CEO of Sahara Mutual Fund, has put in his papers. It is not sure at this juncture as to who will replace him in the organisation Mr Shastri,...

HDFC MF plans close-ended fund with 5-year maturity.
May 31, 2006... (From Business Line) from BUSINESS LINE, May 31, 2006 Kolkata, May 30 - HDFC Mutual Fund has worked out a close-ended fund with a maturity period of five years. It will be automatically converted into an open-ended product upon maturity...

Bear domination.
May 31, 2006... (From Business Line) from BUSINESS LINE, May 31, 2006 The sentiment reading of the tradable counters turned bearish on Tuesday's trading. Bull domination on Wednesday is likely to reduce the bear pressure to some extent. On the contrary,...

Benchmarks nosedive on late-hour selling.
May 31, 2006... (From Business Line) from BUSINESS LINE, May 31, 2006 After showing signs of optimism for most part of the day, markets made a nosedive to close in the red. Index heavyweights witnessed selling pressure during the final hour of trade....

JM Financial plans to launch full-fledged arbitrage fund.
May 31, 2006... (From Business Line) from BUSINESS LINE, May 31, 2006 Mumbai, May 30 - JM Financial Asset Management Pvt Ltd is launching a full-fledged arbitrage fund on Thursday, the first by a fund house after SEBI allowed mutual funds 100 per cent...

ICWAI office-bearers.
May 31, 2006... (From Business Line) from BUSINESS LINE, May 31, 2006 Thiruvananthapuram, May 30 - The Thiruvananthapuram Chapter of the Institute of Cost and Works Accountants of India has announced the election of new office-bearers of the...

India witnesses over $1.2 b foreign funds outflow.
May 31, 2006... (From Business Line) from BUSINESS LINE, May 31, 2006 Mumbai, May 30 - India and Korea bore the major brunt of the recent sell-off by foreign funds in emerging markets. It is estimated that foreign funds pulled out about $5 billion last...

BPCL 'retail visual identity'.
May 31, 2006... (From Business Line) from BUSINESS LINE, May 31, 2006 Thiruvananthapuram, May 30 - Bharat Petroleum Corporation Ltd (BPCL) has introduced its new 'retail visual identity' at another of its outlets in Thiruvananthapuram. Mr S....

Kerala Govt mulls schemes for workers.
May 31, 2006... (From Business Line) from BUSINESS LINE, May 31, 2006 Thiruvananthapuram, May 30 - The Left Democratic Front (LDF) Government in Kerala will do all it can to encourage the State's IT industry and boost employment in this sector, the...