The Telegraph
Since 1st March, 1999
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Business Briefs

HPCL selloff on fast track

New Delhi, Feb. 17: Leading national and global merchant bankers today started making presentations before the disinvestment ministry for becoming advisors for disinvestment of Hindustan Petroleum Corporation Ltd (HPCL). As many as 17 aspirants, including Merrill Lynch, J. P. Morgan, SBI Caps and ICICI have bid for becoming advisors for privatisation of HPCL where the government would sell the controlling stake along with management control to a strategic partner. The presentations by the aspirants in front of the disinvestment secretary Pradeep Baijal and his team of officials would be concluded by Tuesday.

VSNL plan

Mumbai, Feb. 17: Videsh Sanchar Nigam Ltd (VSNL) today said its national long distance plans were in place and will have 50 locations in place across the country before the end of this fiscal.

Nafta export

New Delhi, Feb. 17: India has set a $ 6.65 billion export target for engineering goods to the North American Free Trade Area (Nafta), comprising the USA, Canada and Mexico, during the current financial year.

SKF Bearings

Mumbai, Feb. 17: SKF Bearings Limited has posted a 127.6 per cent jump in its net profit at Rs 20.42 crore for the year ended December 31, 2002 compared with Rs 8.97 crore for the same period the previous year.

Modi Rubber

New Delhi, Feb. 17: Apollo Tyresí plan to take over the tyre manufacturing assets of Modi Rubber seems to have run into rough weather due to disagreements among the brothers, B. K. Modi and V. K. Modi, who are promoters of the company.

Infosys target

Bangalore, Feb. 17: Infosys Technologies will maintain the $ 204 million to $ 207 million revenue guidance for the fourth quarter ending in March, despite business uncertainty emerging due to the Iraq crisis, its managing director and chief executive officer Nandan M. Nilekani said here today.

SEZ Bill

New Delhi, Feb. 17: The Cabinet will soon consider a comprehensive Special Economic Zones (SEZ) Bill, which would lay down guidelines for their development, operation and management.

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