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THE
INDEX / Sweet as sugar
BALRAMPUR Chini Mills (BCM) has performed exceedingly well
during the year ended March 2001 by doubling its net profit. A hike in
import duty on sugar to 60 per cent and imposition of restrictions on
distribution and sale of imported sugar in the domestic market has effectively
sealed the flow of sugar imports into the country.
ACC
plans Rs 120-cr capex to set up captive power plants
THE Rs 3,031-crore cement major, ACC has chalked out a capex programme
of Rs 120 crore to set up captive power plants of 15 MW each at Chanda
in Maharashtra and Madukkarai in Tamil Nadu. This is a part of the company’s
ongoing exercise to increase its cost efficiency.
Post-merger
restructuring to cost AOL $1 billion
AOL Time Warner Inc estimates its postmerger restructuring will
cost close to $1 billion, with a big chunk of the total related to severance
payments for laid-off employees, according to a Securities and Exchange
Commission (SEC) filing.
Amar
Sinha quits Radico Khaitan, joins Shaw Wallace
RADICO Khaitan’s chief executive officer (CEO) Amar Sinha will be bidding
adieu to the company and joining Shaw Wallace as the head of the spirits
division.
Intel’s
new 3-in-1 processor to enable smaller consumer devices
INTEL Corp on Thursday unveiled an unusual 3-in-1 chip that it says will
enable consumer devices to be much smaller — cellphones that could fit
in a lapel pin, for instance, or wristwatch-size computers.
Desai
to be GCPTCL chief
THE managing director of the Bharuch-based Gujarat Narmada Valley
Fertilizers Co Ltd (GNFC), Mr AD Desai, has taken over as the chairman
of the Gujarat Chemical Port Terminal Co Ltd (GCPTCL), country’s first
port exclusively for chemicals, built a cost of Rs 850 crore at Dahej
in south Gujarat to handle 1.8 million tonne per annum traffic.
Jolen
Intl to expand product range
JOLEN International, India’s leading manufacturer of a range of hair styling
gels and bleach creams, is expanding its range of consumer care products.
Nissan
stages dramatic recovery; posts $2.7 b net
NISSAN Motor Co rebounded from seven years of steep losses to record a
group net profit of 331.08 billion yen ($2.68 billion) in the fiscal year
ending March 31, capping the dramatic success of President Carlos Ghosn,
brought in from partner and French auto maker Renault SA.
Mercedes-Benz
India plans foray into MUV segment
MERCEDES-Benz India Ltd (MBIL) proposes to foray into multi-utility vehicle
(MUV) segment and launch its A-Class and M-Class models at cheaper price
points (less than Rs 20 lakh) within a year. To promote its existing range
of cars, the company has earmarked a Rs 7 crore communication package
for the calender year 2001.
Other Headlines
IMG
meeting on VSNL divestment today
Electrical
manufacturers expect budget proposals to spur revival
Blue
Star net up 55%
ADC
ties up with Hughes Software, Kshema Tech
TotalFina
hopes to post 33% rise in net profit
Compulsory
licensing discourages partnerships: PhRMA official
Boeing plans
Unsnarl Air Traffic, cedes ground control to satellites
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