The Hindu Business Line : Thursday, February 03, 2005

Fire at Hyundai plant may affect output for a week
A FIRE that broke out early on Wednesday in a booth in the paint shop in Hyundai Motor India's plant at Irungattukottai, about 50 km from here, is expected to affect production for a week, according to company officials. No one was injured in ... More

RESEARCH & DEVELOPMENT

Dr Reddy's to take up trials of drug for side-effects of radiation therapy
DR Reddy's Laboratories is all set to undertake, multi-centric, phase-3 clinical trials of a drug that would help relieve cancer patients of the side-effects of radiation therapy. The drug major is investing Rs 2 crore in the initiative. It has ... More

ANNOUNCEMENTS

Ranbaxy gets FDA nod for Clarithromycin
RANBAXY Laboratories Ltd has received approval from the US Food and Drug Administration to manufacture and market Clarithromycin XL 1000 mg tablets. The formulation will have the same therapeutic effect as Biaxin XL Filmtab Extended Release ... More

Strides Arcolab supply tie-up with Aussie co Mayne to include Europe
STRIDES Arcolab Ltd on Wednesday announced that its broadened supply arrangement with Australia's Mayne Group would extend its reach to Europe too. Their December 2004 pact for six anti-infective products covered only the US market. According ... More

International Cars to start making multi-utility vehicles from May — Puts off car launch plans
INTERNATIONAL Cars & Motors Ltd, a Sonalika group company, will kickstart production of its multi-utility vehicles from May while it has put off the manufacture of passenger cars. "The utility vehicle project is progressing well. We should ... More

Tata Coffee mulls price hike
IN a bid to offset the impact of exchange rate volatility and rising input costs, Tata Coffee Ltd is contemplating a price hike of its products in the export market after a span of nearly four years. The Tata Coffee Managing Director, Mr M.H. ... More

Gujarat Ambuja board raises limit for FII, OCB shareholding
THE board of directors of Gujarat Ambuja Cements Ltd has increased the 40 per cent combined investment limit for foreign institutional investors, non-resident Indians and overseas corporate bodies to 50 per cent in the company. The limit for ... More

Orders galore for Jessop's EMU unit
Having supplied 36 coaches in 2003-04, the company is executing orders for 81 broad- and 50 metre-gauge coaches. For 2005-06, the company has orders for 121 broad- and 50 metre-gauge coaches. The order book position will strengthen further if ... More

Finolex hikes resin, pipe prices
KOCHI: Finolex Industries Ltd has increased the prices of PVC resin and PVC pipes by Rs 2,000-3,000 per tonne following the upswing in the international prices of polymers and feedstocks and the strong demand in India. The company has ... More

DCI to pay 40 pc interim
VISAKHAPATNAM: Dredging Corporation of India (DCI) has decided to pay its shareholders an interim dividend of 40 per cent on the paid-up equity capital of the company (Rs 4 crore - on each share of Rs 10). According to press release ... More

Neuland gets European CoS
HYDERABAD: Neuland Laboratories Ltd has informed the stock exchanges on Tuesday that it has received certificate of suitability (CoS)for two of its products - Ramipril and Enalapril Maleate - from the European Directorate for the Quality ... More

CORPORATE DISPUTES

TDSAT adjourns Zee-Turner, Asianet case till Feb 16
AFTER the English movie channel HBO became a fresh bone of contention, the Telecom Disputes Settlement Appellate Tribunal (TDSAT) on Tuesday adjourned till February 16, Zee-Turner's appeal challenging TRAI's order to restore cable signals to the ... More

OVERSEAS BORROWINGS

Glenmark launches $70-m FCCBs
GLENMARK Pharmaceuticals Ltd is to raise $70 million through Foreign Currency Convertible Bonds (FCCBs). The bonds are expected to be listed on the Singapore Stock Exchange, the company has informed the BSE. A company official told Business ... More

ENVIRONMENT

How green is my valley?
YOU could not miss the latest ONGC advertisement. It was crafted in green around the front page of many national newspapers and included a little teaser at the bottom of the page. It included the masthead area, but only to the extent of ... More

RESTRUCTURING

Kirloskar Electric shifts transformer unit to Mysore
KIRLOSKAR Electric Company Ltd (KECL) has shifted its transformer unit to Mysore from Bangalore. As part of the restructuring programme, the transformer factory will be fully operational at Mysore. The factory is situated on the Hunsur Road in ... More

MERGERS & ACQUISITIONS

Dabur's big deal
WHEN Dabur India Ltd (DIL) announced its intention to acquire brands positioned on the herbal plank in the personal and healthcare segments in September last year, the announcement left many in the industry wondering. Where were brands ... More

Singapore group may hike stake in Idea Cellular
WITHIN hours of the Government announcing the new FDI policy, Singapore Technologies Telemedia Pte Ltd and TM International Sdn Bhd, said that the consortium would evaluate the option to purchase additional shares in Idea Cellular. The two ... More

JK Investo Trade hits upper ceiling
AS a co-promoter of JK Investo Trade India Ltd, formerly JK Chemicals, has proposed delisting of the stock, the counter has been hitting the upper circuit on the Bombay Stock Exchange for the last three days. JK Investors (Bombay) Ltd has asked ... More

HC nod for ITC Hotels merger
THE Calcutta High Court has approved the scheme of amalgamation of ITC Hotels Ltd with ITC Ltd. The shareholders of both the companies had approved the scheme of amalgamation. Ninety-nine per cent of the shareholders had accorded their consent ... More

Indian Seamless to merge 2 group cos
THE Pune-based Indian Seamless Group, which has interests in seamless tubes and alloy steel (The Indian Seamless Metal Tubes Ltd and Indian Seamless Steels and Alloys Ltd), has decided to merge its two companies. The new company will be named ... More

NEW PROJECTS

KIC Metaliks to set up billet, coke oven plants
KIC Metaliks Ltd, a producer of pig iron and castings having its manufacturing facility at Durgapur, on Tuesday announced backward and forward integration projects that entail an aggregate capital expenditure of Rs 108.05 crore. According to ... More

Talbros Automotive to set up two units this year
TALBROS Automotive Components Ltd (TACL), a leading manufacturer of gaskets, is planning to set up two new units in the current calendar year. The company is also planning to diversify into forgingsand would be setting up a unit for the same in ... More

SEIL plans Rs 300-cr sponge iron plant in AP
THE Vizag-based Steel Exchange India Ltd (SEIL), engaged in steel manufacture and trading, has plans to set up a Rs 300-crore sponge iron plant in Andhra Pradesh, as part of its backward integration programme. The company operates two steel ... More

ALLIANCES & JOINT VENTURES

Rajesh Exports in talks to form venture with Australian mining co
THE Bangalore-based Rajesh Exports Ltd (REL) is in the final stages of negotiations with an Australian gold mining and refining company to enter into a strategic alliance for direct supply of its gold requirement. "As for the nature of the deal ... More

RIGHTS ISSUE

Bata shareholders okay 1:4 rights issue
SHAREHOLDERS of Bata India Ltd today accorded their approval to a 1:4 rights issue. At an extraordinary general meeting of the company held here, shareholders passed a resolution which sought to offer a rights issue of one equity share of the ... More

SICK UNITS

Revival package for Vizag units
A PACKAGE to revive 11 sick units in Visakhapatnam district has been prepared with an outlay of Rs 5.58 crore, according to Mr L. Laxman, General Manager of the District Industries Centre. These units have been selected from among 14based on ... More

OUTLOOK

Eveready in tie-up with Khivraj to set up tech park in Chennai
AS part of its plans to unlock the value of its assets, Eveready Industries India Ltd (EIIL) on Wednesday announced a new initiative that is aimed at creating the latest infrastructure in Chennai. The company, in collaboration with Khivraj ... More

PEOPLE

Pradhan is acting CMD of Nalco
NEW DELHI: Mr C.R. Pradhan has taken over as the acting Chairman-cum-Managing Director of National Aluminium Company Ltd (Nalco), pending the appointment of a regular, full-time CMD. Mr Pradhan is currently the Director, Projects and ... More

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