Wipro bags electronics excellence award: Wipro Ltd, a part of the Rs 1,830 crore diversified and integrated Wipro Corporation, has bagged the union government's award of excellence in electronics. According to a company press release, in the seven years since the inception of the awards for excellence in electronics by the Department of Electronics, Wipro has been the only company to receive the award a record six times. The DoE excellence award to Wipro was in recognition of Wipro's research and development strengths, quality and process maturity and export of software and intellectual properties demonstrated in its software divisions.Doubts over direct tax policy:
The laws governing direct taxes today would become obsolete within two to three years as the `electronic commerce' is becoming increasingly popular, experts said in New Delhi. With business transaction volumes conducted over telephone or Internet growing, tax collection would become a hazard under the present laws, experts at aseminar on `electronic commerce and international taxation' said.
A solution for hostile takeover bid:
The PHD Chamber of Commerce and Industry has suggested that in case of a hostile takeover bid, the financial institutions should provide funds to the promoters of the target company to purchase shares for protecting the interests of the existing promoters. In a discussion paper on the proposed modifications in the takeover code, the chamber has recommended that a code of conduct for financial institutions in the matter of takeover should also be evolved. In our country, financial institutions are the major shareholders who can tilt the balance through their own holdings in any takeover bid, the paper added.
Layer bird variety launched:
The Nasik-based C and M Hyline Farms in Maharashtra, a joint venture between two international poultry companies, C and M Group of India and Hy-line International of US launched its "w-36" layer bird variety in the Indian market on Sunday. Speaking at afunction, Hy-line International chairman Dennis Casey and C and M Farms chairman Elias Marshal D'souza claimed that "w-36" layer bird variety was the world's largest commercial selling whitelayer.
Move to boost tea exports:
The Tea Board will soon launch a massive promotional campaign and extend financial support for exploring new markets as part of its efforts to strengthen the presence of tea in global markets and meet the export target of 265 million kg by 2002, a senior board official has said.
Panel moots sops for steel makers:
The parliamentary standing committee on industry has recommended that raw materials used for steel making should be exempted from special additional duty of 4 per cent. In its 23rd report on the department of steel, tabled in parliament last week, the committee said that in order to help steel sector to recover from recession, the duty should not be levied on raw-materials used for steel making and products for which duty is 5 per cent and below.
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