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Business Briefs

Seven in fray for HPCL

New Delhi, April 10: Seven companies, including Royal Dutch/Shell, BP Amoco, Reliance Industries and Kuwait Petroleum Corporation are left in the fray for acquisition of the governmentís 34.01 per cent stake in Hindustan Petroleum Corporation (HPCL) after shortlisting of bidders today. Others who were shortlisted are Essar group of companies, Saudi Aramco and Chevron Texaco of the US.

Industry output

New Delhi, April 10: Industrial growth in the country surged to 6.4 per cent in February compared with 2.4 per cent a year ago. The index of industrial production was up 5.7 per cent at 174.8 points during the first 11 months of 2002-03 compared with 2.6 per cent in April-February 2001-02.

Bharti merger

New Delhi, April 10: Bharti Televentures Ltd today announced the completion of the merger of Bharti Mobitel Limited with Bharti Cellular Limited, a wholly-owned subsidiary of Bharti Televentures. Bharti Mobitel runs mobile service operations in Calcutta.

Lever lockout

Calcutta, April 10: The management of Hindustan Lever has decided to extend the lockout at its Garden Reach factory in view of the unionís adamant stand, a release said.

IIBI plan

Calcutta, April 10: Industrial Investment Bank of India (IIBI) would look for synergies with commercial banks in order to access cheap sources of funds, IIBI acting head Madhukar said at a seminar here today.

Nokia move

Calcutta, April 10: Nokia has entered into an alliance with GE Countrywide to sell mobile phones through the installment scheme. Dealers will charge an 8.9 per cent interest on the retail price and processing fee of Rs 300.

Infotech boost

Calcutta, April 10: Bengal IT minister Manabendra Mukherjee, IT secretary D. P. Patra, Webel managing director S. K. Mitra and CII eastern region chairman Sanjay Budhia will meet Infosys chief N. R. Narayana Murthy in Bangalore on Saturday to discuss investment opportunities in the state.


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