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Corporate Briefs

LG PCs arrive in the east

LG Electronics has launched its PCs in the eastern region. The PCs will be available in two models priced at Rs 36,500 and Rs 33,900 exclusive of tax. The company is scouting for local partners to set up assembling units in the city. LG PCs are already available in the northern and the western region, where they were launched last month. Company officials refused to divulge any further information regarding investments or capacity of assembling units.

Om Kotak

Om Kotak Mahindra Life Insurance Company Ltd has increased the maximum investment limit on its ‘Kotak Insurance Bond’ to Rs 1 crore from Rs 20 lakh even as it realigned the guaranteed returns up to a maximum of 6.49 per cent from 7.33 per cent.

Honda Siel

Honda Siel Cars India Limited has announced a growth of 31.05 per cent in its sales for the month of November 2002. It sold 1,152 units of its City and Accord models during November, against 879 units sold in the same period last year.

Eicher sales

Eicher Motors Limited (EML) has registered a 38 per cent growth in domestic sales of its commercial vehicles in November 2002 compared with the previous corresponding period last year. Sale of Eicher commercial vehicles in the domestic market during November 2002 was 861 units, whereas, it was 626 units during November 2001.

Rites contract

Rail India Technical and Economic Services (Rites), a government of India enterprise under the ministry of railways, has secured a contract worth $ 1.77 million for rehabilitation of wagons of the Tanzania Railways.

J B Chemicals

J B Chemicals & Pharmaceuticals Ltd has bagged US and South African patents for 20 new chemical entities in the therapeutic category of non-steroidal anti-inflammatory drugs and is awaiting approval from the European Union for the same.

Ind-Swift

Ind-Swift group will increase its stake in Ind-Swift Labs Ltd to 60 per cent by buying out its partner’s 23.14 per cent equity in the joint venture for Rs 8 crore, even as it plans to merge the company and other group companies in the future. Punjab State Industrial Development Corporation is the company’s partner in the joint venture.

StanChart

Credit rating agency Icra has reaffirmed the highest safety “LAAA” rating of Standard Chartered Bank’s bonds following the completion of merger of the bank with ANZ Grindlays Bank.

Zee Turner

Zee Turner has entered into a distribution tie-up with UK-based Zone Broadcasting Maximum Realty Ltd for distributing the latter’s channel in India, Nepal and Bhutan, company sources said.


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