The Hindu Business Line : Thursday, October 02, 2003

Natco Pharma to cash in on R&D successes
NATCO Pharma Ltd (NPL), the city-based pharmaceutical company known for its time-release technology, has drawn up a strategy of cashing in on the successes recorded by its research and development (R&D) wing and to tap the regulated ... More

ANNOUNCEMENTS

GMR Tech gets extension for AGM
GMR Technologies & Industries Ltd, the flagship of the Hyderabad-based GMR group, has informed the stock exchanges that the company had obtained permission from the Registrar of Companies, Andhra Pradesh, for extension of time to hold the annual ... More

Agilent Tech sees scope in food, drugs
AGILENT Technologies would be supplying chemical analysis equipment for doping tests to be conducted by authorities for the forthcoming Afro-Asian games later this month.Doping tests apart, the Indian subsidiary of the $6-billion Agilent ... More

USFDA nod for Lupin's Ceftriaxone
LUPIN Ltd has announced that the US Food and Drug Administration has approved the company's abbreviated new drug application for Ceftriaxone vials for injection. The vials come in 250 mg, 500 mg, 1 gm and 2 gm. Ceftriaxone is the generic ... More

BHEL export order booking at Rs 1,455 cr
BHARAT Heavy Electricals Ltd (BHEL) has recorded its highest ever export order booking of Rs 1,455 crore during fiscal 2002-03, up 82 per cent over the previous year's figure. Spurred by this, the company plans to enhance its export turnover ... More

ABB to supply rectifier systems for Sterlite group
ABB India has bagged orders worth Rs 110 crore from Sterlite group, for the supply of rectifier systems for its smelters at Bharat Aluminium Co. Ltd (Balco), Korba and Hindustan Zinc Ltd (HZL), Chanderia. This includes a turnkey project from ... More

Lockout at HLL unit lifted
THE lockout in Hindustan Lever Ltd's (HLL) Garden Reach Factory has been lifted on September 30, the company informed stock exchanges. The lifting of the lockout follows the separation of 150 contractors' labourers as per a tripartite ... More

Bata to shift marketing base to Delhi
RESPONDING to the prevailing market conditions, Bata India has decided to shift its marketing and commercial activities to the Delhi area. In an official statement issued here by the company management, it has been clarified that owing to the ... More

Asahi to delist shares

Havells board meet

COURTS/LEGAL ISSUES

ONGC employee's prolonged suspension justified, says Madras HC
THE Madras High Court has held that the `prolonged suspension' of an employee who was facing serious criminal charges not only under the provisions of the Indian Penal Code but also of the Prevention of Corruption Act could not be viewed very ... More

FINANCIAL PERFORMANCE

MMTC net up 35% at Rs 25 cr
MMTC Ltd, a golden super star trading house, recorded a total turnover of Rs 6,226 crore in the fiscal year 2002-03 with its net profit registering a growth of 35 per cent at Rs 25.04 crore. The company's Chairman-cum-Managing Director, Mr S.D. ... More

MERGERS & ACQUISITIONS

Acquiring trouble
Acquire a new company but leave it alone! Fiddling with its character can have disastrous consequences. More

NEW PROJECTS

Indian Hotels to make fresh foray into US
THE Indian Hotels Company Ltd (IHCL) is attempting afresh an entry into the US market. Its board today "considered and approved the making of a non-binding bid by the company, or through any of its subsidiaries and/or associate companies for the ... More

Emcure setting up new formulation facility
THE Pune-based Emcure Pharmaceuticals is setting up a formulation facility at Hinjewadi here at an investment of Rs 40 crore. The facility with a capacity to produce 3,600 million tablets and 1,600 million capsules is expected to be ... More

ALLIANCES & JOINT VENTURES

India Today enters into licensing pact with Reader's Digest
THE India Today Group, has entered into a licensing agreement with Reader's Digest in India after the latter ended its association with RDI Print &Publishing - a Tata group company. Under the new arrangement, Reader's Digest ... More

SOCIETY & DEVELOPMENT

Herbalife lends a helping hand
MARK Hughes, the founder of Herbalife International, grew up in a troubled environment, which made him realise the value of a `helping hand' in childhood. In 1994, he initiated the Herbalife Family Foundation (HFF) to provide financial ... More

STANDARDS & BENCHMARKS

Certification for pharma co
KOCHI: The Kozhikode-based Bangalore Antibiotics and Biologicals Private Limited has been awarded the CGMP certificate for Good Health Manufacturing Practices and quality as per the standards specified by the World Health Organisation ... More

SICK UNITS

Sick cos in IDBI, IFCI portfolio up
THE year 2002-03 tested the survival instincts of even some of the best companies. GDP growth at 4.3 per cent, subdued by insufficient rains, was the second slowest in a decade. The country's trade deficit widened and weak domestic demand ... More

BIFR issues show-cause notice for winding up IDPL
DESPITE the ailing Indian Drugs & Pharmaceuticals Ltd (IDPL), a central public sector undertaking, having spent over 11 years at the doors of the Board for Industrial and Financial Reconstruction (BIFR) with no cure in sight, BIFR has ordered for ... More

It's curtains for Hind Antibiotics?
IS it curtains for Hindustan Antibiotics Ltd (HAL), the first drug manufacturing company to be set up in the public sector by the Indian Government as early as 1954? The Board for Industrial and Financial Reconstruction (BIFR) in its recent ... More

Shareholders give approval to take PHIL Corpn to BIFR
PHIL Corporation Ltd has received shareholders' approval to report to the Board for Industrial and Financial Reconstruction (BIFR) erosion of more than 50 per cent of the company's net worth during the past four years. The company has ... More

NGEF to make Rs 30-cr retirement settlement
NGEF, the defunct state enterprise, will shortly make a one-time settlement of Rs 30.06 crore to 1,500 of its employees. The Karnataka Government has released the amount, the company Chairman, Mr V. Shankar, told a news conference here today. ... More

OUTLOOK

Post-Valtra, PTL... M&M `mission' still on
IT could have been the biggest overseas acquisition by an Indian company. But when Mahindra & Mahindra Ltd (M&M) lost Finnish tractor manufacturer Valtra to the $2.9-billion AGCO Corporation of US, the stock market seemed to have shrugged off the ... More

Slew of domestic launches planned — ITC Foods to tickle overseas palates
ITC Foods, ITC Ltd's venture into the highly competitive ready-meals business, is all set to make aggressive inroads into the market with a slew of launches planned for both its premium brand, Kitchens of India, and the recently launched ... More

D-Link sees $200-m revenue from India
MUMBAI: D-LINK Corporation expects sales of its Indian operations to cross $200 million in next five years. With the Indian networking and communication market estimated to grow at a 25 per cent rate over the next years, D-Link's ... More

Jindal Photo eyes Rs 500-cr turnover
JINDAL Photo Films Ltd, the exclusive distributor of the Japanese company Fuji Photo Film, is hoping to register a turnover of Rs 500 crore during the current financial year, Mr Rathi B. Pal, Managing Director, has said. According to him, the ... More

Satnam Overseas eyes higher basmati exports
SATNAM Overseas Ltd, which has a large presence in the basmati export market, plans to firm up its share further. Currently, the company's share is at 9-10 per cent of the total basmati exports of the country, having risen from 5 per cent in ... More

PERFORMANCE

Bajaj Auto two, 3-wheeler sales up 18 pc in Sept
BAJAJ Auto Ltd (BAL) on Wednesday reported a 18.2 per cent rise in the sales of two and three-wheelers to 1,42,023 units in September as against the previous corresponding 1,20,208 units. According to its statement, BAL's motorcycle sales last ... More

Maruti sells more in September
MARUTI Udyog Ltd, the country's largest carmaker, recorded a 2.85 per cent increase in its sales for September as production was affected by a strike at one of its key vendors'. Maruti said it sold 34,543 vehicles, including exports of 1,992 ... More

Hyundai sales increase 53 pc
RIDING on higher exports, Hyundai Motor India, has seen a 53 per cent increase in total sales to 17,009 units in September, even as its sales in the first nine months of 2003 crossed the 1 lakh units mark. In contrast, the company's full year ... More

Hero Honda sales up
NEW DELHI: Hero Honda Motors Ltd on Wednesday said its sales for September rose 18 per cent to 1.57 lakh units over 1.33 lakh in the same month last year. It expects its sales to cross two lakh units in this month, the company said in a ... More

PEOPLE

Gopala Rao is new CMD of BEL
BANGALORE: Mr Y. Gopala Rao, 56, is the new CMD of Bharat Electronics Ltd (BEL). He succeeds Dr V.K. Koshy, who retired on superannuation on September 30, according to a BEL release. Prior to this, Mr Rao, a full-time Director from ... More

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