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Tuesday, February 08, 2005

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ANNOUNCEMENTS


Unichem plants get approval from Brazil
UNICHEM Laboratories Ltd will now be able to market its products in Brazil following the regulatory approvals that the company's plants have got recently from Brazil. The company's formulation facility at Goa and Baddi have received Good ... More

Zydus files IND application
AHMEDABAD: Zydus Cadila Healthcare Ltd has filed its first investigational new drug (IND) application with the Drug Controller General of India for a new agent that seeks to correct metabolic disorders. Developed by the Zydus Research ... More

PREFERENTIAL ALLOTMENTS


Rayalaseema Alkalies record date
HYDERABAD: Sree Rayalaseema Alkalies & Allied Chemicals Ltd has informed stock exchanges that its board, after considering the Andhra Pradesh High Court order sanctioning the scheme of arrangement, has fixed February 25 as record date to ... More

COURTS/LEGAL ISSUES


Bombay HC rejects Western Coalfields plea; Durgapur mines shut down
WESTERN Coalfields Ltd (WCL), one of the eight subsidiary companies of Coal India Ltd, has been forced to shut down operations at its Durgapur Rayatwari Colliery in Chandrapur district of Maharashtra since mid-January. The closure was ordered ... More

INFORMATION TECHNOLOGY


Internal auditors urged to use IT services
THE Institute of Internal Auditors has stressed on the need to use information technology to increase efficiency of the corporate sector. The use of IT can add more value to businesses and create an atmosphere that brings about more efficient ... More

MERGERS & ACQUISITIONS


Vijay Textiles buys 4.17 pc stake in Suryajyoti Spinning
VIJAY Textiles Ltd (VTL), the Rs 56-crore furnishings and upholstery fabrics manufacturer, is picking up 4.17 per cent stake in Suryajyoti Spinning Mills Ltd (SSML), the Rs 122-crore yarn manufacturer, through preferential offer route. VTL is ... More

Beeyu Overseas plans to buy tea factory in Lanka
BEEYU Overseas Ltd, a city-based tea company with operations in South India, is planning to acquire a tea factory in Sri Lanka. The company is also increasing the capacity of its tea factory in Udhagamandalam. According to Mr B.P. Singh, ... More

Strides picks up majority stake in LatAm venture
STRIDES Arcolab on Monday said it had acquired a controlling stake in its Latin American venture, becoming the largest Indian pharma company to operate in the lucrative $22-billion LatAm market. Strides has acquired an additional stake of 12.5 ... More

Amtek board okays Sigma buy
NEW DELHI: Amtek India Ltd today said that its board has approved a plan to buy the entire equity stake in Sigma Cast Group of the UK for an undisclosed amount. In a statement to the BSE, Amtek India said that its plan to buy all of ... More

NEW PROJECTS


Wipro sets up plant in HP for Santoor soap
WIPRO Ltd has set up its first manufacturing unit in North India, at Baddi in Himachal Pradesh, for making toilet soap brand Santoor. The plant was inaugurated by the Chief Minister of Himachal Pradesh, Mr Virbhadra Singh. Also present on the ... More

Bajaj Hind to set up distillery
MUMBAI: Bajaj Hindustan Ltd on Monday informed the Bombay Stock Exchange that its board has approved the setting up of a new distillery of 160 kl per day capacity at a cost of Rs 60 crore. This would take the company's aggregate ... More

ALLIANCES & JOINT VENTURES


Matrix Labs inks alliance with MCHEM of China
The MoU would help Matrix to backward integrate into China for manufacture of intermediates. More

MRPL inks crude supply deals with Saudi, Iranian cos
MRPL has signed one-year contracts to buy crude oil from Saudi Aramco and National Iranian Oil Company (NIOC). It has agreed to buy a total of 7.5 million tonnes of crude oil from the two oil companies in 2005-06. MRPL, a subsidiary of ONGC, ... More

PERFORMANCE


Ashok Leyland doubles exports
ASHOK Leyland has reported a 17 per cent increase in its sales in January, compared with the same month last year. In the April-Jan period of the current year, the company sold 41,872 vehicles against 37,503 in the corresponding period last ... More

Tata Motors vehicle sales up by 22.5 pc
TATA Motors has reported total vehicle sales of 39,000 vehicles in January 2005, an increase of 22.5 per cent over 31,840 vehicles sold in January, 2004. During the April-January period, the company sold 3,18,156 vehicles including exports as ... More


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Looking back
Jan. 30-Feb. 5
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Export-led strategy to help Reliance take on global majors

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