Business Line articles from October 2001, page 2

Business Line archives from October 2001

India: AAI installs new surveillance system.
October 31, 2001... NEW DELHI, Oct. 30. THE Airports Authority of India (AAI) has put into operation the new ECIL, Hyderabad, developed Automatic Dependent Surveillance (ADS) system at the ATC system at Kolkata and Chennai airports. ADS, the satellite-based...

India: 12 weekly flights from India to Switzerland.
October 31, 2001... MUMBAI, Oct. 30. SWISSAIR will operate a new winter timetable, offering 12 weekly flights from India to Switzerland. "Since events on October 1, Swissair has reviewed the Indian flight operation and produced a revised timetable which...

India: Tech upgrade: Sops likely for select textile sectors.
October 31, 2001... NEW DELHI, Oct. 30. THE Government is actively considering a proposal to include certain decentralised segments of the textile industry, that are reserved for the small-scale sector, in the list of select sectors to be eligible for an upfront...

India: Last date for filing of I-T returns extended.
October 31, 2001... NEW DELHI, Oct. 30. THE Central Board of Direct Taxes (CBDT) has extended the due date for filing returns of income for the assessment year 2001-2002 up to November 30. The one-month extension is valid only for assessees filing I-T...

India: Govt to review progress of fast track courts.
October 31, 2001... NEW DELHI, Oct. 30. THE Union Minister of Law, Justice and Company Affairs, Mr Arun Jaitley, has expressed concern over the tardy progress of session-level fast track courts in the States and Union Territories. Inaugurating the All-India...

India: Universal prescription.
October 31, 2001... The impending merger of ICICI with its own banking affiliate ICICI Bank, is certain to set off a wave of consolidation within the financial services industry. Close on the heels of the announcement by the ICICI and ICICI Bank, IDBI has...

India: Prodding people to improve productivity.
October 31, 2001... FINANCIAL engineering and restructuring have been regarded by many as showy shuffles and superficial manoeuvres that fail to improve the core of corporate business affairs. Such a view is perhaps based on reports of further distress at some...

India: Kashmir: Why is Delhi becoming shrill?
October 31, 2001... Recently in Srinagar OBVIOUSLY inspired by the Americans flexing their muscles in Afghanistan, both the Home Minister, Mr L. K. Advani, and surprisingly, the Prime Minister, Mr Atal Bihari Vajpayee, are speaking the language of war...

India: Poll violence.
October 31, 2001... THE recently held elections to local bodies in Tamil Nadu have brought out a number of ugly features. Political parties, adept at throwing dust into the eyes of the people, while flying at the throats of each other, are playing up or down, as...

India: Wockhardt net up 35%.
October 31, 2001... MUMBAI: Wockhardt Ltd has registered a 35 per cent increase in profit-after-tax at Rs 29.6 crore in the quarter ended September 30, 2001 as against Rs 21.9 crore in the same period last year. Mr Habil Khorakiwala, Chairman, Wockhardt Ltd,...

India: Precot Mills posts loss on slippage.
October 31, 2001... COIMBATORE: Precot Mills Ltd's income from operations for the quarter ended September 30, 2001 has fallen by 17 per cent at Rs 43.64 crore. The company has, for the first time in recent years, showed negative result for the quarter. ...

India: Essar Shipping net drops 37%.
October 31, 2001... MUMBAI, Oct.30. ESSAR Shipping Ltd has reported a 37 per cent decline in net profit at Rs 12.65 crore for the quarter ended September 30, 2001 as compared to Rs 20.04 crore in the year-ago period. Income was up at Rs 107.06 crore (Rs 91.75...

India: Indian Rayon Q2 net rises to Rs 15.12 cr.
October 31, 2001... MUMBAI, Oct. 30. INDIAN Rayon and Industries Ltd has reported a 33 per cent increase in its net profit at Rs 15.12 crore for the second quarter of 2001-2002 against Rs 11.38 crore in the year-ago period. However, turnover for the quarter...

India: Central Pulp net up at Rs 4.23 cr.
October 31, 2001... Central Pulp Mills Ltd (CPM) has reported a net profit of Rs 4.23 crore on a net sales of Rs 143.71 crore for the quarter ended September 30, 2001. The company had recorded a net profit of Rs 2.14 crore on a net sales of Rs 36.27 crore for...

India: VST Ind in limelight.
October 31, 2001... AFTER being in cold for some time, the Hyderabad-based cigarette company VST Industries is again witnessing buying interest. This was seen on Tuesday with a block deal of 50,000 shares (in demat segment) in VST Industries on the BSE. The...

India: Hindalco Q2 net at Rs 167.1 cr.
October 31, 2001... MUMBAI, Oct. 30. HINDALCO Industries Ltd has reported a flat growth in net profit at Rs 167.1 crore for the second quarter of 2001-2002 as compared to Rs 167.8 crore in the year-ago period. This is due to a steep fall in LME prices and...

India: Some interest in HDFC.
October 31, 2001... HDFC also attracted some block deals during the day. Two trades totalling 6.5 lakh shares were struck on Monday at the BSE. One trade was for 5.5 lakh shares and other for one lakh shares. It is understood that a strategic investor was the...

India: Mixed feelings for Dr Reddy's.
October 31, 2001... REPORTS of Novartis pulling out of the commercialisation of Dr Reddy's Laboratories diabetes molecule had drawn mixed views from the institutional investors. Alliance Capital and Abu Dhabi Investment were seen selling in Dr Reddy's counter...

India: Call premiums fall sharply; Bearish outlook for spot.
October 31, 2001... TUESDAY's trading in the derivatives segment continued to reflect the bearish outlook on the market. Here are some trading pointers from the Index options segment: - While premium on Nifty puts increased, that on calls fell during the...

India: Fair run in auto stocks.
October 31, 2001... MUMBAI, Oct. 30. THE shares of automobile companies are witnessing investors interest since the beginning of this month on expectation of increased sales and value buying. Analysts said expectation of revival in the commercial segment and...

India: Uptrend terminated.
October 31, 2001... RIGHT from the initial hours of Tuesday's trading, the bears were in total control of the market. This led to the termination of the 19-day old uptrend in the index. The movement in the index was around 17 points and it closed with a loss of...

India: Lacklustre earnings dampen sentiment.
October 31, 2001... DALAL STREET (Down 51.88) DISAPPOINTING second quarter results in blue chips and a weak trend in Nasdaq on Monday combined to drive the key market indices down. The BSE Sensex ended the day at 2,957.45 points, a fall of 51.88 points...

India: Workshop to enhance value for shareholder.
October 31, 2001... MUMBAI, Oct. 29. The Walchand Centre for Financial Excellence, an initiative of Walchand Capital Ltd, is conducting a half-day workshop on "Leveraging investor relations to enhance shareholder value". The workshop will be held on November 7...

India: Promote contract and not corporate farming: Ajit.
October 31, 2001... NEW DELHI, Oct. 30. CORPORATE farming cannot be an answer to the problems faced by the country's agricultural sector and what needs to be promoted is contract farming through small growers rather than corporates undertaking large-scale...

India: Gujarat to harvest bumper rabi groundnut crop.
October 31, 2001... RAJKOT, Oct. 30. GUJARAT, the country's largest groundnut growing State, is all set to post a bumper harvest this season. The harvest is estimated at 22 lakh tonnes from a lowly 13 lakh tonnes last year. This is against the trade figures...

India: Bangladesh tea project to tone up industry.
October 31, 2001... KOLKATA, Oct. 30. THE field and factory development project of the Bangladesh Tea Board (BTB), which is being almost entirely funded by the UN's Common Fund for Commodities (CFC), marks a serious effort by the Bangladesh Government to tone up...

India: A gilded cage holds no charm.
October 31, 2001... DO you ever wonder where the common sparrow or the mynah or the cuckoo or the myriad other birds that you could see sunning themselves outside your homes have gone? Today even the robust crow which you could find even in the most...

India: Going grey with gusto.
October 31, 2001... GOING mobile is no longer a status symbol. Everyone, from the local paanwala to the roadside Romeo, is in possession of what was once the privilege of a few. Reams have been written on it, and it is not the intention here to give one more...

India: A hacker's viewpoint.
October 31, 2001... KEVIN Mitnick, who made it into the Guinness Book of World Records (and also jail) as the most notorious hacker after he broke into the computer systems of America's leading telephone companies, has come out strongly against the so-called...

India: On the job, and clicking.
October 31, 2001... THESE are interesting times for an e-recruitment specialist - job portal on the Web, in other words. For a company like Jobstreet.com, times such as these can be testing or rewarding. Given that it started during the Asian economic crisis,...

India: Knitting business.
October 31, 2001... WHILE everybody seems to need technology, all user segments have not been able to leverage its benefits, mainly because of infrastructure bottlenecks and high acquisition costs. However, a small group of companies across the country is...

India: Launch pad.
October 31, 2001... To school, with friends Navneet Edutainment Ltd, the IT arm of Navneet Publications (India) Ltd, has unveiled two e-learning packages - Brainiac and Answer Machine. According to the company, the packages seek to reinforce classroom...

India: Are you e-bidding for the sake of it?
October 31, 2001... NOBODY invests in technology anymore because it is "nice" to have. Invest only if you really need it, advises Shilesh Agarwal, Director Sales, Ariba, the company that markets an e-business platform. Last year's frills have given way to...

India: You don't have to twiddle your thumbs!
October 31, 2001... THE lengthening shadow of recession is adding to the gloom in the air while companies are competing to cut jobs for managing competitiveness. Employees are steadily losing confidence in the abilities of organisations to offer them...

India: EYE 4 I.
October 31, 2001... Celebration of cellular wonders The natural world has more wonders than we can ever hope to see in a lifetime. But you can always make a start somewhere, and what better place to do it than the Internet. This week, the spotlight is on Web...

India: TIP OFF.
October 31, 2001... Net connection I use a Pentium 3, 550 mhz PC with an Internet connection. For Net connection, when I type my login name and my password, and press go!, this message appears - "A script wants to read the password(s) in the form. Do you...

India: Cyber Quest.
October 31, 2001... QUESTIONS 1. Expand WMF 2. Who is Japan's biggest computer maker? 3. Simple. Who is the new Chairman of CMC, after its takeover by TCS? 4. What was the name of the entity set up by Carnegie Mellon for the "Sankhya Vahini"...

India: Netting a catch.
October 31, 2001... Managing your accounts This week, the focus is on software that cater to the accounting needs of individuals and small firms. This is by no means a comprehensive list but just a sampling of what's available on the Internet. Budget...

India: Reshaping the SME landscape.
October 31, 2001... WHILE India has emerged as a major destination for multinationals to set up call centres, it is also gaining prominence as a developer of CRM products. Many a start-up and small company is focussing on product development. TriVium...

India: Bankers want change in promotion norms.
October 30, 2001... MUMBAI, Oct. 29. PUBLIC sector banks are planning to seek relaxation in the Government guidelines on promotion policy in banks. This follows the post-VRS "manpower problem" being faced by several nationalised banks. According to bankers,...

India: Hughes Soft, Tele to call EGM.
October 30, 2001... MUMBAI, Oct. 29. BOTH Hughes Software Systems Ltd and Hughes Tele.com today decided to convene an extraordinary general meeting to seek shareholder approval for a possible change in control following the merger of Hughes Electronics...

India: New team soon to draft Budget.
October 30, 2001... NEW DELHI, Oct. 29. LIKE history repeating itself, it is going to be a new- look Finance Ministry at North Block this November too, for the second year in succession, that will engage itself in the Budget-making exercise for the next...

India: GTB net dips to Rs 4.91 cr.
October 30, 2001... HYDERABAD, Oct. 29. THE Global Trust Bank recorded total income of Rs 235.73 crore and a net profit of Rs 4.91 crore for the quarter ended September 30, 2001 as against a total income of Rs 228.19 crore and a net profit of Rs 31.44 crore for...

India: Guj Ambuja net up 112 pct.
October 30, 2001... MUMBAI, Oct. 29. GUJARAT Ambuja Cements Ltd has announced a 112 per cent increase in net profit for the quarter ended September 30, 2001. Net profit was at Rs 53.23 crore for the quarter, as against Rs 25.06 crore during the corresponding...

India: CMC net zooms to Rs 11.41 cr in second quarter.
October 30, 2001... NEW DELHI, Oct. 29. CMC LTD today announced a 253 per cent surge in its net profit for the quarter ended September, 2001 at Rs 11.41 crore over Rs 3.23 crore in the corresponding quarter last year. Total income of the company, currently...

India: Madras Cements down 93 pct.
October 30, 2001... CHENNAI, Oct. 29. MADRAS Cements Ltd has registered a 93 per cent drop in net profit for the quarter ending September 30, 2001. Sales increased 18 per cent over the corresponding period last year. Company officials attributed the fall in...

India: Cola-type war moves into aspirin.
October 30, 2001... NEW DELHI, Oct. 29. IN a manner reminiscent of the Cola-wars, pharma company USV Ltd, manufacturer of the Ecosprin brand of aspirin, has taken "a subtle jab" at Reckitt Benckiser's Disprin - even as the latter delays the launch of Disprin CV,...

India: Westside to wear Wendell pret line.
October 30, 2001... PUNE, Oct. 29. FORMER Lakme boss and Chairperson of Trent Ltd, the elegant Ms. Simone Tata, has effected a minor coup in the fashion retailing world having just signed on avante garde fashion designer, Mr Wendell Rodericks, to supply a pret...

India: Verbatim.
October 30, 2001... "We have seen the worst kind of terrorism. You cannot tackle it with ordinary laws of the land. Journalists have greater access to information and therefore have to shoulder more responsibility." -- Information and Broadcasting minister...

India: Doha meet must be successful, says Schroeder.
October 30, 2001... NEW DELHI, Oct. 29. THE visiting German Chancellor, Mr Gerhard Schroeder, today said that though India's concerns on WTO implementation issues are legitimate, "this should not stop us from having the next round, and a constructive attitude is...

India: IIFT summit on telecom.
October 30, 2001... NEW DELHI, Oct. 29. INTERNATIONAL investments in the telecom sector is only possible if "rude shocks" like wireless in local loop (WLL) do not take place midway, according to Mr Virat Bhatia, Managing Director AT&T. Speaking at Connect...

India: IBF to admit radio companies.
October 30, 2001... NEW DELHI, Oct. 29. THE Indian Broadcasting Foundation (IBF), the apex industry body for broadcasting companies, will now allow radio companies to become members. This was decided by the board of the IBF at a recent annual general...

India: Eveready.
October 30, 2001... KOLKATA: Eveready Industries India Ltd, the flagship company of Mr B.M. Khaitan, has registered a net profit of Rs 14.02 crore for the half-year ended September 31, 2001. Net profit for the second quarter was Rs 20.52 crore. Net sales of...

India: Heritage Foods.
October 30, 2001... HYDERABAD: Heritage Foods (India) Ltd has posted a turnover of Rs 38.55 crore, other income of Rs 10.15 lakh and a net profit of Rs 2.35 crore during the second quarter of the current fiscal. The company's turnover and net profit has...

India: Morepen Labs.
October 30, 2001... NEW DELHI: Morepen Laboratories Ltd has clocked a gross revenue of Rs 119.17 crore for the quarter ended September 30, 2001. This was up 13 per cent from the gross sales of Rs 105.16 crore registered in the corresponding period in the...

India: Nagarjuna Fertilizers.
October 30, 2001... HYDERABAD: Nagarjuna Fertilizers and Chemicals Ltd (NFCL) has posted a turnover of Rs 362.27 crore, other income of Rs 11.6 crore and a profit after tax of Rs 19.65 crore for the quarter ended September 2001. Both the turnover as well as...

India: Germany grants Rs 670-cr loan.
October 30, 2001... NEW DELHI, Oct. 29. INDIA will receive German assistance aggregating to Rs 670 crore for four developmental projects. The two countries, which signed agreements today the ocassion of the visit of Chancellor Gerhard Schroeder, also discussed...

India: Jet Airways to hike surcharge.
October 30, 2001... NEW DELHI, Oct. 29. JET Airways is to go in for a three-tier increase in its insurance surcharge which is likely to come into effect from around November 1. "The idea is to see that the passenger who flies for a shorter distance pays a...

India: Smart cards to replace I-cards at airports.
October 30, 2001... NEW DELHI, Oct. 29. IN an effort to further tighten security at airports, the Government is in the process of acquiring smart cards to replace the existing identification cards worn by staff at airports. Further, a new Civil Aviation...

India: Austrian Airlines plans more flights.
October 30, 2001... NEW DELHI, Oct. 29. AUSTRIAN Airlines which is to start its sixth weekly flight on the Delhi-Vienna sector from next Thursday, has conducted a market study to decide which Indian city should be the second destination for the airline. "We...

India: Green pastures seen for e-commerce.
October 30, 2001... NEW DELHI, Oct. 29. INDIAN e-commerce is projected to touch Rs 25,200 crore by 2005 from the current level of Rs 250 crore, achieved last year in business-to-business transactions (B2B) and Rs 50 crore in business-to-consumer (B2C). This...

India: Castrol Q3 net down 26 pct at Rs 22.23 cr.
October 30, 2001... MUMBAI, Oct. 29. CASTROL India Ltd has registered a 26 per cent drop in net profit at Rs 22.23 crore in the quarter ended September 30, 2001 as against Rs 28.17 crore in the corresponding period last year. The board of directors of the...

India: Tata Chem Q2 net down 8 pct.
October 30, 2001... MUMBAI, Oct. 29. TATA Chemicals Ltd has reported an eight per cent decline in net profit at Rs 43.41 crore for the second quarter of 2001-2002 against Rs 47.35 crore in the year-ago period. In the second quarter, deferred tax accounted...

India: 'New trade round vital for ending poverty'.
October 30, 2001... NEW DELHI, Oct. 29. CUTTING barriers to trade in agriculture, manufacturing and services by one-third would boost the world's economy by $613 billion. This was stated by Mr Richard McCormick, President, ICC, while inaugurating the 71st annual...

India: Videocon Q2 net at Rs 39.38 cr.
October 30, 2001... MUMBAI, Oct. 29. VIDEOCON International Ltd has posted a net profit of Rs 39.38 crore for the second quarter ended September 30, 2001 compared to Rs 36.84 crore during the same period in the previous year. Net sales for the quarter stood at...

India: Parke-Davis net climbs 34 pct.
October 30, 2001... MUMBAI, Oct. 29. PARKE-DAVIS India Ltd has registered a 34 per cent increase in net profit at Rs 5.16 crore for the quarter ended September 30, 2001, as against Rs 3.83 crore in the corresponding period last year. Net sales dipped...

India: Biotech cos in the pink of health: E&Y.
October 30, 2001... HYDERABAD, Oct. 29. DESPITE a downturn in the capital markets in the first half of 2001, a review of biotechnology companies reflects that they are poised to achieve long-term success with less stock volatility as the companies are in strong...

India: Crisil board revamped.
October 30, 2001... MUMBAI: Crisil has revamped its board of directors. At the board meeting held on October 24, Mr Edward Emmer, Executive Managing Director - Corporate and Government Services of Standard and Poor's International Ratings Ltd, was appointed as a...

India: Novartis move on Novo Nordisk.
October 30, 2001... HYDERABAD: Dr Reddy's Laboratories Ltd (DRL) announced here on Monday that Novartis Pharma AG has decided not to continue its collaboration with Novo Nordisk for the commercialisation of DRF-2725, the dual-acting insulin sensitiser compound...

India: Meet on petro subsidies phase-out tomorrow.
October 30, 2001... MUMBAI, Oct. 29. THE Union Minister for Petroleum and Natural Gas, Mr Ram Naik, today said he would hold discussions with the Finance Minister on October 31 to discuss phasing out subsidies on petro products. Reiterating that the...

India: TNPL net, sales dip.
October 30, 2001... CHENNAI: Tamil Nadu Newsprint and Papers Ltd (TNPL) has posted a net profit of Rs 14.31 crore on net sales of Rs 133.10 crore for the quarter ended September 30, 2001, a 22 per cent drop in profit and a 10 per cent decline in sales over the...

India: Jaiprakash Ind.
October 30, 2001... NEW DELHI: Jaiprakash Industries Ltd (JIL) has reported a net profit of Rs 23.22 crore for the quarter ended September 30, 2001. The company had reported a net profit of Rs 6.57 crore for the quarter ended September 30, 2001. Net sales...

India: Indal posts record H1 net, sales.
October 30, 2001... KOLKATA, Oct. 29. INDIAN Aluminium Co Ltd has recorded a gross turnover of Rs 678.5 crore for the six months ended September, 2001. Net profit for the period stood at Rs 59.4 crore. A statement said the company had achieved the...

India: Raymond posts profit, unveils acquisition.
October 30, 2001... MUMBAI, Oct. 29. RAYMOND Ltd (Raymond) has announced a $3-million acquisition in Portugal, besides a net profit of Rs 40.83 crore for the quarter ended September 30, 2001 (second quarter), as against a loss of Rs 151.70 crore in the same...

India: Chennai Petro order for HPV.
October 30, 2001... HYDERABAD: The Visakhapatnam-based Bharat Heavy Plate and Vessels Ltd (BHPV), a Government of India enterprise and a subsidiary of Bharat Yantra Nigam Ltd, has bagged a major order from Chennai Petroleum Corporation Ltd to manufacture...

India: A lacklustre performance.
October 30, 2001... INDIAN Aluminium (Indal), the aluminium downstream major belonging to the Aditya Vikram Birla group, has turned in a lacklustre earnings performance for the second quarter ended September 30, 2001. Despite higher production, improved...

India: Shasun Chem's net down 19%.
October 30, 2001... CHENNAI: Shasun Chemicals and Drugs Ltd has registered a net profit of Rs 2.73 crore during the second quarter of 2001-2002, a drop of 19.23 per cent from Rs 3.38 crore in the previous corresponding period. However, the turnover...

India: Parry Agro.
October 30, 2001... Parry Agro Industries Ltd, part of the Murugappa group, has registered a net profit of Rs 2.09 crore on sales of Rs 20.90 crore for the quarter ended September 30, 2001 against a net profit of Rs 1 lakh on sales of Rs 19.56 crore for the same...

India: HCC.
October 30, 2001... MUMBAI: Hindustan Construction Company Ltd has announced a net profit of Rs 23.79 crore for the quarter ended September 30, 2001 (Rs 0.12 crore). Extraordinary income of Rs 19.98 crore in the form of capital gains on sale of development...

India: M&M back to 6-day week.
October 30, 2001... MUMBAI, Oct. 29. AUTOMOBILE major, Mahindra & Mahindra Ltd (M&M), has restored the normal six-day week schedule at its manufacturing plants. But at its Kandivili plant, the operations of M&M's automotive sector continues for only 4-5...

India: Indo Gulf net up on buoyant sales.
October 30, 2001... MUMBAI, Oct. 29. INDO GULF Corporation Ltd (IGCL) has reported a 46.5 per cent increase in net profit at Rs 76.24 crore for the second quarter of 2001-2002 as compared to Rs 52.04 crore in the year-ago period. Net sales for the quarter...

India: BILT Graphic upbeat on export performance.
October 30, 2001... NEW DELHI, Oct. 29. THEterrorist attack on the US on September 11 has not significantly impacted the export prospects for BILT Graphic Paper Ltd (BGPL) for the current fiscal, according to Mr Yogesh Agarwal, Vice President-Sales & Marketing,...

India: Tata panel to examine insider trading charges.
October 30, 2001... MUMBAI, Oct. 29. BOMBAY House has set up an internal committee to independently establish the veracity of the insider trading charges against the senior Tata Sons Director, Mr J.E. Talaulicar. The committee,headed by the independent...

India: Case for easing SME disclosure norms.
October 30, 2001... NEW DELHI, Oct. 29. THE National Advisory Committee on Accounting Standards (NACAS) has assessed the orientation of the existing accounting standards issued by the Institute of Chartered Accountants of India (ICAI) in meeting the growth...