THE INDEX: Endgame starts
INFOSYS had desisted from going public on its future prospects so far. It has broken the silence with a profit warning that has taken both investors and analysts by surprise even though its financial performance during the fourth quarter and the year ended March 2001, is on the expected lines. The profit warning has sent the stock in a tailspin to hit the 18 month low of Rs 3,238, down by 16 per cent.

Glaxo sells Worli plot for Rs 40 cr
THE real estate market seems to be picking up with some major deals being finalised last month. Glaxo India Ltd has decided to sell a plot of land at Worli for a sum of Rs 40 crore.

Yamaha to introduce new models every three months
TWO-WHEELER major Yamaha Motor Escorts Ltd (YMEL), manufacturer of Yamaha motorcycles in India, has made changes in its strategy. The company will now introduce motorcycle models every three months instead of six months. It has also decided to rev up production of motorcycles in its two manufacturing units located in Haryana and Uttar Pradesh.

Daewoo charts out fresh strategy to boost sales 
IN a new marketing initiative, Daewoo Motors India has identified seven under-performing cities with the objective of improving customer service and market performance to bring it up to the company’s expectations.

BPL Mobile, Hutchison to refund dues by June
BPL Mobile and Hutchison Max, the two cellular service providers of Mumbai, have said they will refund the amount due to their customers by June 2001, a month ahead of the Telecom Regulatory Authority of India (Trai) deadline of July 31.

Bajaj Electricals to revamp branch office operations
BAJAJ Electricals Ltd (BEL) has decided to overhaul its branch office operations, including manpower rationalisation, as part of its overall business development programme chalked out by Arther Andersen.

Promoters may hike stake in Varun Shipping
VARUN Shipping Co Ltd promoters Dilip D Khatau plans to hike stake in case the minority shareholders refuse to subscribe to the Rs 36.26 crore rights issue. The management on Wednesday held a press conference to announce its results in Kolkata and also speak on its rights issue which closes on April 18. On the fate of the rights issue, company vice-chairman and managing director Arun Mehta said that the promoters, who hold close to 36 per cent stake in the company, are committed and willing to hike their stake further, if required.

BetzDearborn sets up plant near Bangalore
BETZDEARBORN, a division of US company Hercules Inc, which is a major international player in engineered specialty chemicals for water and industrial process systems, has set up a $3 million formulations plant near Bangalore.

Bajaj Tempo to launch CNG Minidor in May
BAJAJ Tempo Ltd will be launching its Minidor three-wheelers running on CNG during next month. The CNG versions of Trax and Tempo Traveller, too, will be available in the market. These vehicles are being targeted at the Delhi and Goa markets. “The price of the CNG Minidors will only be marginally higher than the diesel version,” company chairman and managing director (CMD) Abhay Firodia said. Mr Firodia said the Minidor was positioned as a low cost public transport vehicle in the market but the product was up against ‘vested interests’.