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Saturday,
January 25, 2003, Chandigarh, India  
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TRAI to announce user charges today
Decision on HPCL, BPCL on Jan 26
Haryana to have basmati, potato export zones
Indo Gulf Corp net surges 20 pc
Ease banking norms: Vineeta |
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Shram Awards for 2002 New Delhi, January 24 The government today announced Prime Minister’s Shram Awards for 2002 to 35 workmen employed in various Public Sector Undertakings in recognition of their performance, innovative abilities, outstanding contribution in the field of productivity and exhibition of exceptional courage and presence of mind.
Hind Lever Chem-Tata Chem swap ratio at 2:5
Nokia shows profit
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TRAI to announce user charges today New Delhi, January 24 The telecom industry is keenly awaiting the IUC and the revised basic telephone tariffs and a fresh round of price war is set to begin with basic line operators not ruling out a tariff increase to cushion the anticipated revenue loss that may arise out of the much-awaited interconnect user charges (IUC). Basic telecom operators, who also offer limited mobile services under the WLL platform, have already written to TRAI that the imposition of an access charge on fixed line calls was unwarranted as fixed line operators were not earning any airtime revenue as was the case with cellular phone operators. Further, indications suggest that the IUC could be structured in such a way that “it hurts everybody a little”. Basic operators were of the view that the proposed IUC regime could tantamount to penalising the 40 million fixed phone subscribers for the benefit of 10 million cellular phone users. GSM cellular operators on the other hand point out that under the existing system a WLL mobile subscribers calling a fixed line pays Rs 1.20 per three minutes and the fixed service providers retains 100 per cent with no access charge. On the other hand, a mobile subscriber calling the same fixed line pays air time plus an access
charge of Rs 1.20 per minute of which Rs 1.20 is passed on to the FSP. “WLL operators are grossly misrepresenting facts involved in the matter, cleverly camouflaging their own commercial
interests under the garb of consumer interest. They have been beneficiaries of a unidirectional interconnection charge, which, hopefully will be rectified by the forthcoming IUC”, an official of a GSM mobile operator said.
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Decision on HPCL, BPCL on Jan 26
New Delhi, January 24 This follows a favourable opinion given by Attorney General Soli Sorabjee on disinvestment in the two oil PSUs. The CCD is expected to work out modalities of selling government’s equity in the two companies, highly placed government sources told UNI. The meeting will also discuss the Attorney General’s opinion as well as decide the fate of Bina and Bathinda refineries which are proposed to be set up by BPCL and HPCL respectively, they said. The government has decided to sell its stake alongwith management control in HPCL to a strategic investor while it would make a public offering of its equity share in both domestic and overseas market. The Disinvestment and Petroleum Ministries have been at loggerheads on the modalities of selling equity in both oil PSUs. While the petroleum ministry wants 49 per cent stake in BPCL and 26 per cent in HPCL, the Disinvestment Ministry is in favour of 26 per cent government stake in BPCL with independent management and around 15 per cent in HPCL. Mr Sorabjee is understood to have opined that there was no need for Parliament approval for privatisation of HPCL and BPCL, sources said.
UNI
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Haryana to have basmati, potato export zones Chandigarh, January 24 Haryana should also get a study conducted to align the diversification of crops to the international market. These focus areas emerged from the one-day conference on “Crop diversification and value addition to agriculture” in Haryana organised by the PHDCCI here today. Haryana Industries Secretary and Commissioner S. C. Chaudhary, said improvement of density of regulated markets equipped with grading, cleaning and packaging facilities, market information systems and auction systems were immediately required. Professor B.R. Attri Principal Scientist of the Indian Agriculture Research Institute, Delhi, stressed the need for a national research capability in cash crops and horticulture as also methods of transferring knowhow and skills to farmers along with inputs necessary for converting technological advances into production gains. Dr N. Rasul, Industrial Adviser, Food Processing Ministry, said the government had identified the food processing sector as the thrust area in the 10th Plan and allocated Rs 650 crore for encouraging the industry. He said taking advantage of this, Haryana should promote corporatisation of agriculture by encouraging industry-agriculture linkages.
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Indo Gulf Corp net surges 20 pc
Mumbai, January 24 IGCL said in a statement here today that its total turnover for the third quarter was 12 per cent higher at Rs 855 crore compared to that of the previous year. Exports in the 02-03 third quarter have gone up by 100 per cent to Rs 182 crore from the
previous comparable quarter. IGCL said the profit and sales improved through pro-active management. The global demand for copper is expected to pick up gradually during the second half of the calendar year, 2003, the company said. IGCL said the company continued to grow in revenue, profit and asset productivity.
UNI
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Ease banking norms: Vineeta Patiala, January 24 Ms Rai was speaking at a function organised at the headquarters building of the State Bank of Patiala here to mark the full computerisation of all branches of the bank. Along with computerisation there was a need to rise up to the expectations of the consumer in all respects and that banks must give other services to target all sections of society. She said this would result in further growth of the banks. She also lauded the manner in which the State Bank of Patiala had been fully computerised under the leadership of Mr A.K. Purwar, who is at present Chairman of the SBI group. Officiating Managing Director B M Jain said State Bank of Patiala had become the first public sector bank to achieve full computerisation of all its 737 branches and 96 extension centres. Besides this, the bank had introduced several value-added services, including Single Window Service, extended business hours, ATMs, telebanking, Internet banking, remote login, Electronic Fund Transfer and Interactive kiosks. Mr Jain said the bank’s plant in the immediate future, included extending the facility of anytime/anywhere banking, implementation of Centralised Banking Solutions and establishment of call centres.
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Shram Awards for 2002
New Delhi, January 24 Prime Minister Atal Behari Vajpayee will present these awards to them later at a function. No workman was considered suitable this year for the highest Shram Ratna Award carrying a cash prize of Rs 2 lakh. Even though the total number of Shram Awards is only 17, the number of workmen receiving the awards is 35, including two women, as some of the awards have been given to team of workers consisting of more than one person. The awardees of Shram Bhushan carrying a cash prize of Rs one lakh each along with citations are: a team comprising Arvind Kumar Saha, Alok Kumar Shrivastava, Aveneesh Mishra, Sanjay Kumar Singh and Ghanshyam Sharma of Bhilai Steel Plant, Ram Chandra Malhotra of BHEL (Hardwar) and a team consisting of Vishnu Kant Singh Kushwah and Manjeet Singh of National Capital Power Station,Dadri (NTPC). Six Shram Awards carrying a cash award of Rs 60,000 and citation each are given to Basudeo Choudhary of Bokaro Steel Plant (SAIL), S. Rajendran of BHEL, Bangalore, Sunil Kumar Panigrahi of Rourkela Steel Plant, Junneti Satyanarayana of Research Centre Imarat, Hyderabad (DRDL), a team comprising Sarbada Mishra and Pancham Prasad (Jointly) of Singrauli Super Thermal Power Station (NTPC) and jointly to A. Appalakonda of Naval Dockyard, Vishakhapatnam (ANI) and a team comprising Indukuri Venkata Ramaraju, Naine Shyamraj, Mohd. Abdul Salim Durrani and Danda Chandra Mohan Reddy (jointly) of Nuclear Fuel Complex, Hyderabad. The Shram Devi Award, carrying a cash reward of Rs 40,000 and a citation each has been given to a team of two women workers, Thanappa Lakshmamma and Kamalamma of HMT Watch Factory (Bangalore). Shram Shri Award winners are T. Rajendran of BHEL, Trichy, S. Sandhanam of BHEL, Trichy, Chandra Moger of BEL, Bangalore, Ram Kumar Thakur of Bhilai Steel Plant, G.S. Gopalakrishnan of Southern Railway, Trichy, Prabhat Kumar of HAL, Nasik, Durairajan Ganesan of Indira Gandhi Centre for Atomic Research, Kalpakkam and a team comprising Sumarat Lal Ulke, Babu Lal Shankar Lal Kurrey, Dhan Singh Chandrakar Krishna of Bhilai Steel Plant, and jointly to Girish K Uruval of HMT Watch Factory, Bangalore and Abdul Rashid Khan of HMT Watch Factory, Srinagar.
PTI
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Hind Lever Chem-Tata Chem swap ratio at 2:5 Mumbai, January 24 The swap ratio of 2:5 was notified to the Bombay Stock Exchange (BSE) today by both companies. The merger, which is subject to statutory and other approvals, will make the new entity one of the largest producers of chemicals and fertilisers in the country. HLCL, a leading player in fertilisers and bulk chemicals, is an arm of FMCG major Hindustan Lever Ltd (HLL). For HLL this is another step towards its stated intent of exiting from non-core business. Experts say that the merger, against an outright sale, has ensured that HLL continued to have a say in the functioning of the merged entity. This is important considering HLL sources almost 90 per cent of sodium tripolyphosphat used as water softener for its detergents from HLCL. For Tata Chemicals it marks a much sought-after entry into the di-ammonium phosphate (DAP) and complex fertiliser business through the merger. The company already has a major presence in urea.
Tata Chem Tata Chemicals has posted a net profit of Rs 55.50 crore for the third quarter ended December 31, 2002, registering an increase of 20.41 per cent as compared to Rs 46.09 crore recorded in the corresponding period a year ago. The company informed the BSE that the total income of the TCL had increased by 22.9 per cent to Rs 483.44 crore in the period under review from Rs 393.35 crore in the third quarter.
Hindalco Aditya Birla group company Hindalco Industries Ltd has posted a 38.91 per cent drop in its net profit at Rs 101.1 crore for the third quarter ended December 31, 2002 as against Rs 165.5 crore in the same period last fiscal. The net sales for the reporting quarter were also down by 9.68 per cent at Rs 521.5 crore as compared to Rs 577.4 crore in the third quarter of FY-02, the company said in a release here today. The net profit and sales for the nine months ended December 2002 stood at Rs 366.4 crore (Rs 493.8 crore in Q3 of FY-02) and Rs 1,677.2 crore (Rs 1,683.7 crore) respectively.
MTNL Mahanagar Telephone Nigam Limited (MTNL) has said that its net profits for the third quarter of 2002-03 have gone down from Rs 328.15 crore to Rs 217.06 crore. The company said in a statement that inspite of reduction of long distance call rates by 60 per cent from February 2002 and ILD tariff coming down by 45 per cent the revenue has come down only by 11 per cent.
JB Chem JB Chemicals & Pharmaceuticals has posted a net profit of Rs 11.43 crore for the third quarter ended December 31, 2002, registering a growth of 13.84 per cent as compared to Rs 10.04 crore in the corresponding period a year ago. Total income of the company has decreased marginally by 0.96 per cent to Rs 79.96 crore in the quarter ended December 2002 from Rs 80.74 crore in the corresponding quarter ended a year ago.
Ashok Leyland Ashok Leyland said today its net profit has surged by 72.26 per cent to Rs 23.28 crore for the quarter ended December, 2002, from Rs 13.51 crore in the same period last year.
Visual Soft Visual Soft Technologies today registered a net profit of Rs 836.16 lakh with a growth rate of 51.09 per cent in the third quarter.
Agencies
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