The Hindu Business Line : Saturday, June 07, 2003

Malladi to conduct enzyme trials to dissolve blood clots
THE Chennai-based Malladi Drugs & Pharmaceuticals is in the process of seeking permission for clinical trials in the country for an enzyme that dissolves blood clots. "We intend to do full-fledged clinical trials in India, but are simultaneously ... More

Natco Pharma launches anti-cancer drug
NATCO Pharma Ltd (NPL), the Hyderabad-based company, has launched an anti-cancer drug, zoledronic acid, in the injection form, under the brand name Zoldonat. In a press release here, the company said that it had become the second in the world ... More

GM India rolls out Chevrolet Optra
GENERAL Motors rolled out its new car - - the Chevrolet Optra - - at its plant in Halol today. The Optra sedan is being positioned in the upper-C segment, alongside cars such as the Toyota Corolla and Skoda Octavia. The car is being ... More

L&T bags $103-m Lafarge order
THE French multinational Lafarge S.A has chosen Larsen and Toubro, its competitor in the cement business in India, as its EPC contractor for building a 1.2 million tonnes per annum cement plant in Bangladesh. For L&T, the order valued at $103 ... More

Tube Investments Noida plant begins operation
TUBE Investments of India Ltd's new cycles plant at Noida "commenced operations on Wednesday," Mr M.A. Alagappan, Chairman of the company, told Business Line today. The plant can produce nine lakh cycles a year, and the total capacity with ... More

Mahavir Spinning bid to delist

PREFERENTIAL ALLOTMENTS

MRPL issues 21.96 lakh shares to IDBI
MANGALORE Refinery & Petrochemicals Ltd (MRPL) today informed the Bombay Stock Exchange that its board of directors had allotted 21.96 lakh equity shares of Rs 10 each on preferential basis to Industrial Development Bank of India (IDBI), as part ... More

AWARDS & HONOURS

Toonz films bag top honours at US animation festival
TOONZ Animation India has made a clean sweep of the top honours in the Student-Directed Category at the prestigious second Kalamazoo Animation Festival International (KAFI) held from May 16-18 at Kalamazoo in the US. Cute Bunny, written ... More

Coke receives eco award

COURTS/LEGAL ISSUES

Coal India files caveat
PRE-EMPTING that Mr N.K. Sharma, the suspended chairman of Coal India Ltd (CIL), may take legal steps to challenge his suspension order, the management of CIL has filed a caveat in court to ensure that no ex-parte order is given by any court in ... More

SABMiller files caveats in Mumbai High Court
BARELY a fortnight after acquiring the management control of Shaw Wallace Breweries, SABMiller has moved the Mumbai High Court with caveats to block any ex-parte ruling in case of a legal action against the deal by Ms Bhavika Godhwani, estranged ... More

ENVIRONMENT

Tata Steel, SAIL celebrate Environment Day
STEEL majors SAIL and Tata Steel have celebrated World Environment Day in their own ways on June 5. Tata Steel billed this year's celebrations as `Water - Two billion people are dying for it', as suggested by the United Nations Environment ... More

IOC campaign for `Diesel Super' in Mangalore
THE Mangalore divisional office of Indian Oil Corporation (IOC) will be organising a 15-day campaign from June 12 to popularise the `environmental-friendly' diesel `Diesel Super'. The campaign will be organised in 35 petrol pumps in seven ... More

RESTRUCTURING

SABMiller restructures operations into 3 regions
SABMILLER has restructured its domestic operations following the management takeover of Shaw Wallace Breweries Ltd. The multinational has divided the market into three regions - South, West and North - under separate operational ... More

MERGERS & ACQUISITIONS

Lanco board okays merger of Kalahasthi Castings — E&Y to suggest swap ratio
LANCO Industries Ltd (LIL), the Rs 93-crore loss-making pig iron and Portland slag cement manufacturer that had recently shut down both the operations temporarily, has decided to appoint Ernst & Young Pvt Ltd, to suggest swap ratio for the ... More

Jindal Photo buys entire OCPS in Jindal Poly

NEW PROJECTS

Tessitura Monti plans expansion
TESSITURA Monti India (P) Ltd, a subsidiary of the euro 106 million Gruppo Tessile Monti SPA, which manufactures dyed yarn and fine count premium shirting fabric for Italy, Europe and the US, is planning to expand its Rs 85-crore Kolhapur plant ... More

Beeyu plans Rs 15-cr coffee unit in Russia
THE Rs 51 crore-turnover Beeyu Overseas Ltd, which is engaged in the manufacture and export of tea and is a merchant-exporter of coffee, rice and sesame seeds, is working on plans to set up a 2,000-tonnes per annum instant coffee plant in Russia ... More

Visa Industries to set up seven greenfield projects
THE city-based Visa Industries Ltd proposes to invest a little over Rs 1,000 crore in Chhattisgarh, specifically in seven greenfield projects. A memorandum of understanding in this regard has been signed between the company and Chhattisgarh State ... More

ALLIANCES & JOINT VENTURES

Lalbhais to take Mauritius route for apparel exports — Arvind Mills setting up jt venture co
THE Lalbhais have decided to take the Mauritius route for undertaking export and import of readymade apparels. The group flagship — Arvind Mills Ltd — is in the process of setting up a joint venture company with the Mauritius-based ... More

BPCL in pact with ONGC
BHARAT Petroleum Corporation Ltd (BPCL) has signed an agreement for buying indigenous crude oil from Oil and Natural Gas Corporation Ltd (ONGC). The company sourced around 10 million tonnes of crude oil every year from ONGC and Oil India Ltd ... More

BONUS ANNOUNCEMENTS

IOC declares 1:2 bonus
INDIAN Oil Corporation (IOC) has declared a 1:2 bonus issue to its shareholders. The IOC board, which met on Friday, recommended issue of one share for every two shares held by the shareholders, according to an official release. Speaking to ... More

SICK UNITS

IFCI to scout for new bosses for Regent Agro
THE Board for Industrial and Financial Reconstruction (BIFR) has directed IFCI to advertise for change in management for the Hyderabad-based Regent Agro Products Ltd (RAPL) producer of coconut oil, coconut water and desiccated coconut powder, ... More

Govt nod awaited for Andhra Cement Company site sale
THE Andhra Cement Company unit here, once the only major industry in Vijayawada, which provided employment to many of the citizens and contributed substantially to its growth, is set to pass into history and in its place is proposed a modern ... More

OUTLOOK

E.I.D. Parry distillery stops production
E.I.D. Parry has stopped production at its distillery from the beginning of this month because its licence is yet to be renewed by the Tamil Nadu Government, according to reliable sources. The company officials are nonplussed because, despite ... More

PERFORMANCE

Saint-Gobain begins exports to Australia, Korea
"Despite the high cost of power and infrastructure, India was still a good country to manufacture and market new products." More

PEOPLE

Balasubramanian to officiate as CLB Chairman
AFTER a gap of nine months, the Company Law Board (CLB) has a chairman. Mr S. Balasubramanian, Vice-Chairman of CLB, has taken over as officiating Chairman, according to an official release. With the Chairman of CLB, Mr A.K. Banerji, retiring ... More

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