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Friday, September 3, 1999

Essar Shipping sells bulk carrier to Greek company
Essar Shipping sold one of its bulk carriers to a Greek company last week for over $5 million. The move is part of company's overall strategy to phase out old ships.

Tata Infotech chief kohli to pass baton to Kavarana
Faqir Chand Kohli is stepping down as the chairman of Tata Infotech. He will be succeeded by Farouk Kavarana, executive director (corporate affairs) of Telco.

Numaligarh refinery seeks nod to privately place 29% with OIDB
The promoters of the Rs 2,600 crore Numaligarh refinery, BPCL and IBP, have sought the approval of the petroleum ministry to privately place 29% of the project's equity with the Oil Industry Development Board.


Corporate Results


  BPL mulls CTV units in Pune, Palakkad in bid to up capacity
  Gillette plans new brand launches to expand dental and shaving products
  Maruti to beef up dealer network, to pick up stake in vendors
  BPL Engineering to set up assembly line for speakers
  Wipro set to unveil stock option plan in two weeks
  Zodiac plans to hike outlet strength
  Kinetic plans to launch 5 two-wheeler models
  Excel Industries to build garbage treatment plant
  BNP names Paribas merger team, striking a conciliatory note on pact
  CitiBank unveils global banking, to launch `suvidha' nationwide by mid-2000
  Xerox Corp okays merger of Modi Xerox, MXFS with Xerox Modicorp
  Ispat Ind to seek extension to meet export obligations
  Godrej Soaps paid Rs 18 cr to re-acquire brands from Cussons
  Arvind Mills kicks off recast, to spin off garments and telecom businesses
  Court admits Pepsi's appeal against Coke
  Marathon to rope in ally for Essar Power
  Indian Bank plans to recover Rs 640 cr NPAs
  STAR to invest $1m in news channel
  ICICI Infotech on the prowl for new acquisitions
  SCO to source Unix developers from India
  Satyam in talks with two cos to upgrade TVs for Internet
  Marketplace Briefing
  Thomson ropes in Rahul Dravid to strengthen brand
  ITC plans stock option, hunts for acquisitions
  Central Coalfields to tap institutions for funds
  Briefing
  Haldia Petro yet to tie up funds
  Tinplate Company downs shutters of its hot-dip plant at Jamshedpur
  Gear up for competition, LIC chief tells staff



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