Nicco bags UN order
Nicco Corporation Limited has bagged orders under the United Nations aid programme for reconstructing oil storage tanks at Basra in post-Saddam Iraq. The company has signed an agreement with the UN and was waiting for opening of letter of credit with BNP Paribas for executing the order, Nicco chairman and managing director Rajive Kaul said. Valued at €1.74 million (Rs 8.5 crore), the order will be executed within 270 days from the date of opening of letter of credit, he said.
Eicher Motors, which has recently forayed into the domestic heavy truck segment, will launch a 25-tonne multi-axle-truck in the current quarter or the next. The new truck, christened Galaxy 30:25, is currently undergoing trial runs, Eicher group chairman and CEO S. Sandilya said.
MSTC Limited, a government enterprise under the administrative control of the ministry of steel, has announced a dividend of 83 per cent on the equity for 2002-03.
Canara Bank has signed a memorandum of understanding with National Bank for Agriculture and Rural Development for co-financing projects in the agriculture sector.
Hutch has launched a comprehensive insurance policy covering new handsets in association with ICICI Lombard. The insurance premium amount is as low as 1.15 per cent of the handset price.
Investmentz.com, an online trading portal, has launched Live eXchange, a platform which enables investors to trade stocks on Bombay Stock Exchange and National Stock Exchange from individual computers.
Bear Stearns, a US-based Fortune 500 and S&P 500 global investment banking, securities trading and brokerage firm, has selected Satyam Computer Services as a preferred information technology vendor for long-term outsourcing.
Coal India Ltd and its subsidiaries have registered a profit of Rs 1,034.10 crore (provisional) in April-September against the budgeted profit of Rs 665.52 crore.
Apollo Tyres has rolled out a nationwide consumer promotion programme under which Apollo spot teams have been giving gifts to lucky customers using Apollo tyres.
Cummins India Ltd has declared an interim dividend of 100 per cent on 198,000,000 equity shares of Rs 2 each.
K-Lite Industries, manufacturers of lighting fixtures, has established a convention centre in Chennai for firms involved in lighting and allied sectors.