The Hindu Business Line : Friday, July 11, 2003

Fiat India to get funds from parent
FIAT India would be receiving a fresh infusion of funds during the current month to help the company restructure capital and reduce losses, even as the parent company has received a `junk' rating by an international credit rating firm. Though ... More

Arvind Remedies plans herbal route for entry into US, Europe
THE Chennai-based pharma firm, Arvind Remedies Ltd, has chalked out a `herbal' prescription for entering the regulated markets, especially the US and Europe. The company plans to enter these markets with a basket of about five herbal products ... More

Dr Reddy's gets tentative FDA nod for generic
DR Reddy's Laboratories Ltd, the Hyderabad-based pharmaceutical major listed on the New York Stock Exchange (NYSE), obtained early this week a tentative endorsement from the US Food and Drug Administration (USFDA) to market the generic form of ... More

AUDITING

Auditors may be empowered to certify service tax payments
CHARTERED accountants may have a cause for cheer and a new job at hand. The Central Board of Excise and Customs (CBEC) is examining a proposal that may empower chartered accountants to audit the records and books of service providers and certify ... More

MERGERS & ACQUISITIONS

Dip in M&As in line with global trend
GLOBAL activity in mergers and acquisitions (M&As) continues to slow down this fiscal too, and India is keeping pace with the global trend. The number of M&A deals, globally, has fallen sharply compared to the same period in 2002 and while the ... More

NEW PROJECTS

First unit in Rubber Park all set to go on stream
THE first of the 16 manufacturing units being set up in the State-owned Rubber Park at Irapuram near here will become operational within a week as the official inauguration of the park has been delayed indefinitely. The unit, L & P Rubber ... More

Granules India new facility on stream
GRANULES India Ltd (GIL), the Hyderabad-based Rs 64-crore active pharmaceutical ingredients (APIs) and pharmaceutical formulations intermediates (PFIs) company, has completed the implementation of the modern granulation facility at Gagillapur ... More

DIVERSIFICATION

M&M to get shareholders' nod for engineering biz
MAHINDRA & Mahindra Ltd (M&M) is seeking shareholders' nod to set up an engineering services business in the area of design and product development for manufacture of industrial products. The company is also well-placed to take up servicing ... More

SICK UNITS

Merven to be called Arch Commerz
MERVEN Drug Products Ltd (MDPL), a sick company, is likely to be renamed as Arch Commerz Ltd after the reverse merger of Arch Commerz Pvt Ltd, a healthy company, with MDPL. This has been envisaged in the draft rehabilitation scheme circulated by ... More

OUTLOOK

Amara Raja to focus on UPS, power sector
THE downturn in battery demand from the telecom sector has made Amara Raja Batteries Ltd (ARBL), the Rs 202-crore manufacturer of a range of batteries with predominant focus on the telecom sector, to change its focus. Informing this to the ... More

Infosys projects may lose Rs 100 cr on strong rupee
A STRONG rupee is likely to shave Rs 100 crore off Infosys Technologies' revenues for financial year 2003-04, as it would erode value of cash earned outside the country, company officials said. Indian rupee has appreciated close to 3.7 per cent ... More

PERFORMANCE

Infosys: Revenue growth to the fore
CONTRARY to expectations, Infosys has reported a 7.8 rise in profits after tax in the quarter ended June 2003 compared with the quarter ended March 2003. A combination of improved volume growth, shift in revenue mix to offshore, higher capacity ... More

PEOPLE

Indo Rama gets new V-P

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