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Business Briefs

BMW selects Chennai

Chennai, Aug. 30: BMW, the German auto firm, has decided to set up its premium car-assembly plant at Maraimalai Nagar at an investment of $40 million (about Rs 180 crore). An eight-member high level team from BMW, headed by board member Norbert Reithofer, today met Tamil Nadu chief minister J. Jayalalithaa to brief her about the project that would come up at the Mahindra Industrial Park.

Income leap

New Delhi, Aug. 30: The country's per capita income at current prices increased 11.1 per cent to Rs 23,308 crore in 2004-05 from Rs 20,989 crore in 2003-04 under CSO's revised estimates. The rise was 10.7 per cent in quick estimates, which put the figure for 2004-05 at Rs 23,241 crore.

Tata Tele

Mumbai, Aug. 30: Tata Teleservices Maharashtra Ltd will allot 21,52,887 shares upon conversion of the foreign currency convertible bonds, the company informed the BSE today.

Kotak Bank

Mumbai, Aug. 30: Kotak Mahindra Bank Ltd today said it will allot bonus shares to shareholders in 3:2 ratio.

Raha move

New Delhi, Aug. 30: ONGC chief Subir Raha has threatened to quit over what he calls 'intimidation and coercion' by the petroleum ministry to appoint two additional government nominees on the board of the company.


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