The Hindu Business Line : Wednesday, April 27, 2005

NCL, DuPont sign research pact
DUPONT has announced that it has signed a research agreement with the Pune-based National Chemical Laboratory (NCL). Under the terms of the agreement, DuPont will have access to the talent and capabilities of NCL to grow new market-facing ... More

ANNOUNCEMENTS

Ocimum launches its brand of biochips
OCIMUM Biosolutions has announced that it has launched OciChips, its brand of biochips that are used in drug testing and disease studies. The biochips were formerly known as MWG arrays. Ocimum recently acquired German genomics major MWG Biotech ... More

BILT forays into tissue paper, eyes acquisitions
BALLARPUR Industries Ltd (BILT) today announced a number of initiatives to generate growth. While it has been talking about acquiring pulp and paper capacities in South-East Asia for some months, the company has also begun diversification in ... More

Vehicle financing to contribute 12 pc of Tata Motors' PBT
VEHICLE financing business should contribute up to 12 per cent of Tata Motors' profit before tax in 2005-06, the Tata Chairman, Mr Ratan Tata, said at a court-convened meeting on Tuesday seeking shareholders' approval for the merger of Tata ... More

Tata Steel may open retail outlets
TATA Steel is toying with the idea of entering the retail business. The company is "examining the way in which steel can become more popular," said Dr T. Mukherjee, Deputy Managing Director of Tata Steel. Addressing a news conference here on ... More

Zutshi is now Deputy MD of Samsung India
SAMSUNG India Electronics Ltd (SIEL) on Tuesday announced the elevation of Mr Ravinder Zutshi to the position of Deputy Managing Director. Prior to this, Mr Zutshi was the Director (Sales and Marketing), Samsung India. In his new capacity, Mr ... More

Audi launches A6, priced at Rs 42.5 lakh
"The new A6 is positioned head-on against the traditional German players within the large sedan segment. It is a key development for Audi and we expect it to accelerate sales growth for us across the Asia Pacific region," Mr Michael Weber, ... More

Rane Engine Valves EOU
CHENNAI: Rane Engine Valves Ltd proposes to set up an export-oriented unit (EOU) near Visakhapatnam at an investment of about Rs 30 crore, the company has informed the stock exchanges. Initially this new EOU will have an installed ... More

PREFERENTIAL ALLOTMENTS

Adlabs board okays pref issue to Arisaig Partners
ADLABS Films Ltd's board of directors has approved a preferential issue of 7.5 per cent equity stake worth $6 million to Arisaig Partners (Asia) Pte Ltd at Rs 150 per share. With this, the total proposed investment in the company through the ... More

CORPORATE DISPUTES

Plea for probe into Birla Corpn shareholding pattern dismissed
THE Company Law Board (CLB), on Monday dismissed the petition filed by a group of minority shareholders of Birla Corporation Ltd seeking an investigation into the shareholding pattern of the company. "On overall appreciation of the facts of ... More

Anil Ambani writes to SEBI
MR Anil Ambani has written to SEBI and the stock exchanges asking them to look into the adherence to disclosure norms and corporate governance by IPCL over the handling of his resignation letter. The regulator and the exchanges have been ... More

`IPCL stock sale: Reliance Capital loss Rs 1,000 cr'
A DAY after Reliance Capital Ltd (RCL) announced that it sold 23 per cent stake in Indian Petrochemicals Corporation Ltd (IPCL) held by Reliance Petroinvestments Ltd to Reliance Pharmaceutical Pvt Ltd and Reliance Nutraceutical Pvt Ltd at par ... More

COMPANY LAW

`Laws governing corporate sector must be remodelled'
A PAPER on reform of business laws and administration of justice, prepared by the Federation of Indian Chambers of Commerce and Industry of India (FICCI) and the Bar Association of India, recommends revamping of the country's judicial landscape ... More

ENVIRONMENT

Eco violations: Reliance Energy fine cut to Rs 100 cr
RELIANCE Energy will have to pay Rs 100 crore instead of Rs 300 crore as fine for environment violation at its Dahanu unit. The Mumbai High Court reduced REL's fine after the company petitioned against Dahanu Taluka Environmental Protection ... More

FINANCIAL PERFORMANCE

Sterlite Optical Q4 net up at Rs 2.9 cr
MUMBAI: Sterlite Optical Technologies Ltd reported a net profit of Rs 2.86 crore for the fourth quarter ended March 31, 2005 compared to a loss of Rs 7.2 crore in the corresponding quarter last year. Net income rose to Rs 126.99 crore ... More

RESTRUCTURING

Parliamentary panel seeks revamp of SAIL corporate plan
THE Parliamentary Standing Committee on Steel and Coal has lambasted Steel Authority of India Ltd's (SAIL) Corporate Plan 2012, which envisages increasing the public sector steel manufacturer's steel making capacity from the present 12 mt to 20 ... More

MERGERS & ACQUISITIONS

Ruia group all set to acquire sick Orissa PSU
AFTER turning Jessop & Co around, the Rs 500-crore Ruia group is now set to acquire Hirakud Cables, a sick aluminium conductor wire and transmission tower manufacturing State PSU in Orissa. The group, which had acquired majority stake in the ... More

NEW PROJECTS

Blue Star on major expansion drive
CENTRAL air-conditioning and commercial refrigeration maker Blue Star is on a major expansion drive. The company is in the process of establishing its new facility in Himachal Pradesh at an investment of Rs 25 crore. The plant is expected to ... More

Bal Pharma eyeing North Indian location
THE Bangalore-based bulk drugs maker Bal Pharma is considering a north Indian location for its proposed capacity expansion. The company has shortlisted Uttaranchal and Jammu to set up its formulations facility, with an investment of Rs 18.52 ... More

ALLIANCES & JOINT VENTURES

Daewoo assets sell-off may be mired in more legal tangles
THE sell-off process of the assets of the erstwhile Daewoo Motor India may be headed for more legal tangles, with the revenue department proposing to take further legal action to recover dues of about Rs 1,000 crore. Sources in the department ... More

Glenmark's Swiss arm in deal with Teijin Pharma of Japan
GLENMARK Pharmaceuticals Ltd announced on Tuesday that its Switzerland-based subsidiary, Glenmark Pharmaceuticals, has entered into $53-million deal with Teijin Pharma of Japan by licensing its asthma and chronic obstructive pulmonary disorder ... More

Development, expansion of Tapti gas field: British Gas-ONGC-Reliance joint venture plans to invest $500 m
THE three-way joint venture by British Gas, ONGC and Reliance Industries Ltd that operates the Panna, Mukta and Tapti gas fields on Tuesday announced an investment plan of $500 million for the development and expansion of the Tapti gas field, ... More

SECURITY

ONGC security reviewed
VISAKHAPATNAM: The Onshore Security Co-ordination Committee (OSCC), entrusted with the task of overseeing the security of onland oil and gas installations of ONGC in the Andhra Pradesh region, met here on Tuesday. Mr Swaranjit Sen, ... More

DIVERSIFICATION

STC plans foray into new areas
FOLLOWING the Department of Disinvestment's decision to call off the proposed disinvestment of State Trading Corporation of India Ltd (STC), the Corporation has resolved to foray into new areas and diversify its trading items. Sources in the ... More

TRENDS

RESURGENT INDIA

The great growth story
New-generation companies are spearheading a resurgent India. And it is changing the Mumbai skyline like never before. More

Starting up a brand new day
"I WATCH the western sky/The sun is sinking/The geese are flying south/It sets me thinking." Like birds in winter, markets and manufacturing hotspots were shifting. Asia was the world's big opportunity and with it, the world was Asia's ... More

NEW PRODUCTS & SERVICES

Torrent launches anti-epileptic drug
AHMEDABAD: Healthcare company torrent Pharmaceuticals Ltd has launched a new anti-epileptic drug, Levetiracetam. Claimed to be the first of its kind drug to be launched in the country, Levetiracetam is effective from the first dose ... More

Panacea launches pain relief drug
PANACEA Biotec has launched UpRight (a fixed dose combination of aceclofenac and paracetamol), which claims to offer relief from severe pain and inflammation. While aceclofenac relieves pain and inflammation through a variety of mechanisms, ... More

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`At least one big ticket bank merger likely this year'

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IPCL Q4 net more than triples

Time to promote intra-Asian capital flows

In Focus

BHEL Disinvestment