The Hindu Business Line : Thursday, November 06, 2003

Essar Group eyes power sector in eastern region
THE Essar Group is interested in the power generation and distribution business in the eastern India, according to Mr Prashant Ruia, Managing Director of Essar Steel Ltd. He was in the city to attend a metal seminar organised by the Bengal ... More

Padmalaya board clears higher FII investments
PADMALAYA Telefilms Ltd while deferring the decision to issue ADRs/GDRs/FCDs, has decided to allow higher investment by Foreign Institutional Investors. The company board, at its annual general meeting held here recently, also approved a ... More

Keltec integrates titanium gas bottles production
THE State-owned Kerala Hitech Industries Ltd (Keltec) has integrated the production of titanium gas bottles and SITVC tanks used in PSLV and other satellite launch vehicles. The first batch of the products has already been handed over to the ... More

Roche drugs now 25 pc cheaper
PHARMA major Roche Scientific Company (India) Pvt Ltd has announced cut in the prices of its existing drugs by 25 per cent to consolidate its presence in the Indian market. Life-saving drugs of Roche India such as Xeloda, Cellcept and ... More

PREFERENTIAL ALLOTMENTS

Aurobindo EGM clears pref offer
THE equity shareholders of Aurobindo Pharma Ltd (APL) have approved the company's proposal to go in for private placement of 38-lakh equity share warrants for raising funds to the tune of Rs 229.52 crore. At an extraordinary general meeting ... More

AWARDS & HONOURS

Lohiya Ind bags award
HYDERABAD: The Managing Director of Lohiya Industries, Mr Kanhaiyalal Lohiya, has received the Council for Industrial and Trade Development (CITD) India award for national quality from the Andhra Pradesh Governor, Mr Surjit Singh Barnala, ... More

MERGERS & ACQUISITIONS

Tata Motors set to acquire Daewoo truck co for $118 m
TATA Motors Ltd today said that it has signed a binding MoU with Daewoo Commercial Vehicle Co Ltd (DWCV) to acquire the Korean truck manufacturer. "The transaction is expected to close in the next two to three months, subject to a final due ... More

Saudi group to pick up 16.7% stake in KRBL
THE Saudi Arabia-based Balsharaf Group will pick up a 16.7 per cent stake in KRBL Ltd, India's largest exporter of basmati rice. The acquisition will be done through fresh issue of 30 lakh shares of Rs 10 each at a price of Rs 90 by KRBL to Mr ... More

NEW PROJECTS

Utkal Alumina confident of kicking off Rs 4,500-cr project soon
The original promoters of UAIL had evolved a formula under which each promoter, in proportion to equity holding, would lift the percentage of the total production and sell independently. More

Anchor plans to float subsidiary in Europe
ANCHOR Electricals & Electronics Ltd plans to float a subsidiary company in Europe, which can help in designing its switches and cater to the needs of the international market. It is in the process of tying-up with an European company to ... More

ALLIANCES & JOINT VENTURES

Friedman group ties up with Pearl Academy of Fashion
THE US-based retail consultancy and training organisation, the Friedman Group, has announced an alliance with the Pearl Academy of Fashion (I) Ltd, with the objective of offering retail consultancy services in India. Announcing this, Mr Harry ... More

SRL plans tie-ups with hospitals in UK, West Asia
ARMED with the College of American Pathologists accredition, SRL Ranbaxy Ltd (SRL) has drawn up plans for tie-ups with leading hospital systems in the UK and West Asia. Mr Harpal Singh, Chairman of the company, said here on Wednesday that SRL ... More

SOCIETY & DEVELOPMENT

Dr Reddy's Foundation begins college for poor
AIMED at providing cost-free, livelihood-oriented education to the deserving deprived urban adolescents, Dr Reddy's Foundation (DRF), a social arm of Dr Reddy's Laboratories, started Kallam Anji Reddy Vocational Junior College here on Wednesday. ... More

OUTLOOK

Orchid Chem looks West to boost sales
SUPPORTED by a new plant designed to meet US standards, Orchid Chemicals & Pharmaceuticals plans to push drug sales to the lucrative West and replace China as its mainstay in three years. Orchid hopes that the sale of drugs in final form, such ... More

SAIL hopes to wipe out losses — Rules out capacity expansion
IN the next two years Steel Authority of India Ltd (SAIL) will be wiping out its total accumulated losses and will continue to invest Rs 800-1000 crore every year for increasing production. According to Mr V.S. Jain, Chairman of SAIL, the board ... More

Cummins to make India a sourcing hub
It aims to earn over Rs 50 crore every year from the growing demand from the domestic mining sector to "re-power" old equipment. "The K-38 series of engines, that range from 1,200 horse power (HP) to 2,000 HP capacity, are being sourced ... More

PERFORMANCE

Ashok Leyland vehicle sales up 72% in Oct
POWERED by a surge in sales of medium duty vehicles (above 7.5 tonnes), Ashok Leyland reported a 71.6 per cent increase in vehicle sales in October 2003 over the same month last year. In October 2003, the company sold 3,997 vehicles, including ... More

Upgradation helps Salzer keep costs low
ROTARY switch manufacturing major Salzer Electronics Ltd (SEL) has managed to establish a niche in the global market in terms of quality and pricing. The products from the company's stable have given the Chinese goods a run for their money, Mr ... More

ECONOMIC OFFENCES

SFIO probe on Daewoo Motors in full swing
THE worst is far from over for Daewoo Motors India Ltd, the erstwhile makers of the world's `best small car' Matiz. The Serious Fraud Investigation Office (SFIO), which is investigating the case of Daewoo, has fixed a tight time schedule to ... More

PEOPLE

New Company Secy at Dr Reddy's Lab
DR REDDY'S Laboratories Ltd has informed the stock exchanges that its board of directors, at its meeting held on October 28, has appointed Mr V. Viswanath as Company Secretary and Compliance Officer. Mr Santosh Kumar Nair, who was acting as ... More

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