Financial Daily from THE HINDU group of publications
Wednesday, November 12, 2003
Markets (Nov. 11)
BL 2501793.14 (+14.82)
BSE Sensex5030.64 (+32.07)
S&P CNX Nifty1601.15 (+6.65)
US Dollar (Buy/Sell)45.25/45.38
Gold Std (10 gm)5755 (+25)

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RESEARCH & DEVELOPMENT


GM opens tech lab in Bangalore
GENERAL Motors today announced the opening of its first global technology lab outside the US in Bangalore, which would harness local talent to do research on futuristic vehicles for the world's largest automaker. "The research lab in India ... More

Nicholas Piramal, Anna varsity team up for cancer research
NICHOLAS Piramal India Ltd has inked an agreement with the Center of Biotechnology (CBT), Anna University in Chennai, for research in areas of cancer and inflammation. The exclusive R&D tie-up is designed to fast track the identification and ... More

OUTSOURCING


Roche set to sign pact with AP co for outsourcing
THE Indian-arm of Swiss-pharma major Roche is set to formalise an agreement with an Andhra Pradesh-based pharma company to source active pharmaceutical ingredients and intermediaries. This comes, even as Roche formally parts ways this month with ... More

COMPANY LAW


Panel moots classifying Company Act violations
ALL violations of the Companies Act by corporates could soon be graded into three distinct categories - minor, major and major. A Department of Company Affairs (DCA) constituted committee, chaired by Mr Shardul Shroff for examining the ... More

MERGERS & ACQUISITIONS


Boards of Jisco, Jindal Vijaynagar to meet tomorrow to consider share swap
THE boards of Jindal Iron & Steel Company Ltd (Jisco) and Jindal Vijaynagar Steel Ltd (JVSL) are meeting on November 13 to decide on the share exchange ratio for the consolidation of steel business of the two companies. The boards will also ... More

Albert David plans to acquire new manufacturing facility — Looks at setting up overseas units
PHARMA company Albert David Ltd plans to acquire a manufacturing facility in the city and hopes to set up overseas outfits. The company is trying to consolidate its operations and strengthen the marketing wing to meet challenges from domestic ... More

NEW PROJECTS


Siemens plans to open centre in Kerala
SIEMENS, the third largest engineering company in the world, plans to open a centre in Kerala. This is the outcome of talks a visiting team of the Kerala State IT Mission had with officials of Siemens Information Systems Ltd at the latter's ... More

TRADE & LABOUR UNIONS


RINL to clear one-year wage arrears
THE Rashtriya Ispat Nigam Ltd (the steel plant here) has agreed to pay its employees wage arrears for 2000-2001. A press release issued by the company says that an agreement was signed on Monday evening between the management and the unions. ... More

IPOS


Indraprastha Gas gets FIPB nod to sell shares to overseas investors
INDRAPRASTHA Gas Ltd (IGL) has obtained the approval of the Foreign Investment Promotion Board for transfer of equity shares to non-resident Indians, foreign institutional Investors and foreign venture capital funds registered with the market ... More

OUTLOOK


Ford targets Rs 1,000-cr turnover — Domestic sales likely to fuel growth
FORD India Ltd hopes to end this year (calendar 2003) with a turnover of Rs 1,000 crore, up from Rs 800 crore in 2002. The higher turnover will be possible thanks to robust domestic sales, which will offset the expected decline in ... More

Millennium Alcobev eyes 33 pc rise in beer sales
MILLENNIUM Alcobev Ltd, a three-way joint venture between Scottish & Newcastle, United Breweries group and Mr Ravi Jain, is expected to post 33 per cent rise in beer sales in the current financial year. The company is likely to close the year ... More

PERFORMANCE


`Fiero F2, Scooty Pep production trails demand'
TVS Motor Company said on Tuesday that it has been unable to meet the demand for its premium motorcycle, Fiero F2 and moped Scooty Pep because of undercapacity at its plant. The TVS Vice-President for Marketing, Mr Harish Krishnamachar, told ... More

Bajaj Tempo sales up 28 pc in October
BAJAJ Tempo Ltd has reported a 28.42 per cent increase in vehicle sales at 4,487 units in October 2003 as compared to 3,494 units in the year-ago period. Sales of four-wheeled vehicles rose by 38 per cent to 1,165 units against 841 vehicles ... More


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Looking back
Nov. 2-Nov. 8
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Maruti VRS: Third round to start next week

Ashok Leyland vehicle sales up 72% in Oct

Venu Srinivasan, Rajesh Hukku receive Business Week awards

19 burnt alive in Bengal tea estate dispute


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