ANNOUNCEMENTS
USFDA nod for Ranbaxy drug
PHARMA major Ranbaxy Laboratories Ltd has received approval from the US Food and Drug Administration to commercialise minocycline hydrochloride tablets, an antibiotic used to treat bacterial infections. The product will be marketed exclusively ... More

Philip Morris seeks to regain say in Godfrey management
PHILIP Morris International (PMI), which holds 36 per cent equity stake in the K.K. Modi-controlled Godfrey Phillips India Ltd, seeks to regain a say in the management of the cigarette company. To begin with, the Philip Morris will seek to ... More

Maruti hikes prices
MARUTI Udyog Ltd on Friday marginally raised prices of most its models to offset higher input costs. Maruti's largest selling models, the 800, Alto, Zen, WagonR and Esteem, will now be dearer by 0.2 per cent to 0.75 per cent. The price hike ... More

OVERSEAS BORROWINGS
External commercial borrowing norms eased
THE Government today announced a new liberalised external commercial borrowing (ECB) which would allow automatic approvals for borrowings with an average maturity of five years and above. The Reserve Bank of India has been asked by the Ministry ... More

AWARDS & HONOURS

COURTS/LEGAL ISSUES
Kerala HC fiat on Pepsi plea for sales tax exemption
THE Kerala High Court on Friday directed the Director, Industries and Commerce, to "independently" consider afresh the application submitted by the Pepsi Indian Holdings Pvt Ltd seeking sales tax exemption for its plant at Kanjikode in ... More

MERGERS & ACQUISITIONS
Mallya ups offer price to buy out Chhabria's stake in Herbertsons
THE UB group Chairman, Mr Vijay Mallya, has substantially hiked his offer price to buy out Mr Kishore Chhabria's stake in Herbertsons Ltd even as the two warring parties made a fresh joint plea before the Supreme Court seeking more time to try ... More

CORPORATE GOVERNANCE
ECPFs of corporate governance
HYDERABAD: Better corporate governance involves focusing on four "E"s, four "C"s, four "P"s and four "F"s. Mr Michael Yeoh, Chief Executive Officer and Director of Asian Strategy Leadership Institute of Malaysia, stated this while ... More

OVERSEAS INVESTMENTS
PM lifts cap on investment abroad — Corporates can undertake overseas farm activities
THE Government's pre-election largesse to the corporate sector continues. After a slew of duty cuts announced by the Finance Ministry on Thursday, the Prime Minister, Mr Atal Bihari Vajpayee, on Friday allowed Indian corporates to make overseas ... More

PERFORMANCE
Infosys: EPS catching up with revenue growth
INFOSYS Technologies has announced an upward revision in guidance for both revenues and per share earnings for 2003-04. And this was the key highlight of its earnings announcement for the third quarter ended December 31, 2003. Though this ... More

Jubilant Q3 net up 90% on higher sales
JUBILANT Organosys Ltd has reported a 90 per cent increase in net profit during the third quarter ending December 31, 2003. The company's net profit for the October-December 2003 quarter stood at Rs 23.7 crore compared with Rs 12.5 crore ... More