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Wednesday, January 21, 2004

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RESEARCH & DEVELOPMENT
Biocon arm Clinigene opens clinical trial centre
BIOCON India's clinical research subsidiary, Clinigene International, has opened a human pharmacology unit (HPU) that will conduct phase 1 clinical trials and related studies for pharma R&D companies. Five domestic and six international pharma .. More

ANNOUNCEMENTS
TVS Motor working on Victor variants
TVS Motor Company said here on Tuesday it expects to touch the 1 million mark in motorcycle sales in fiscal 2004-05. The company is also working on a number of variants of its Victor model in the next fiscal, Mr R. Chandramouli, ... More

Audi to launch cars by mid-2004
AFTER making an abortive attempt to enter the Indian market a few years back, Audi, the German performance and sports car manufacturer, is finally putting together its plans for an entry into the country. The company is expected to decide on ... More

BHEL bags Rs 599-crore MSEB contract
BHARAT Heavy Electricals Ltd (BHEL), has secured a contract for setting up one unit of 250 MW at New Parli thermal power station (extension) in Maharashtra, under international competitive bidding norms. Valued at Rs 599 crore, the order has ... More

Ashok Leyland to raise $100 million
ASHOK Leyland Ltd plans to raise long-term funds up to $100 million to finance its expenditure and working capital requirements. In a communication to the stock exchanges on Tuesday, the company said that the board meeting scheduled for ... More

Morepen offers scheme to convert FDs to equity
IN an attempt to provide some respite to fixed deposit holders, the board of directors of Morepen Laboratories Ltd (MLL) on Tuesday decided to give them the option of converting fixed deposits into equity. According to a company statement, ... More

Magene to invest Rs 15 cr in contract manufacturing
MAGENE Life Sciences, a Hyderabad-based company, has firmed up plans to invest Rs 15 crore to create a discovery research laboratory and contract manufacturing facility in Medchal on the outskirts of the city. The start-up floated in September ... More

OPEN OFFERS
Grasim exempted from open offer for CemCo
THE Securities and Exchange Board of India (SEBI) has exempted Grasim Ltd from having to make an open offer for CemCo, the cement company proposed to be demerged from L&T, and whose majority stake is to be acquired by Grasim, under an agreement . More

Uncertainty surrounds Devaki open offer
A MONTH after the open offer by a group of doctors aiming to take over Devaki Hospital closed, uncertainty surrounds the status of shares that were sold by the shareholders to the acquirers. Indbank, the acquirer's (Madras Medical Care & Health . More

RESTRUCTURING
Liberty to spin off retailing venture into separate unit
THE Rs 250-crore Liberty Shoes Ltd has decided to split its manufacturing and retailing divisions into two distinct companies, following the completion of its restructuring exercise which it had kicked off last year. Liberty Shoes Ltd has ... More

MERGERS & ACQUISITIONS
ACC board to consider Idcol merger
THE Board of Directors of Associated Cement Companies will consider a proposal to merge the company's subsidiary Idcol Cement with ACC at its meeting scheduled for January 23 this year. ACC acquired 86.79 per cent equity stake in Idcol Cement ... More

NEW PROJECTS
Granules India gets German nod for plant
GRANULES India Ltd (GIL), has announced that its new plant at Gagillapur has successfully gone through first International Regulatory audit by the German Health Authority. In a release, the company said the German approval enables it to export ... More

Suryalata Mills plans Rs 25-cr expansion
SURYALATA Spinning Mills Ltd is planning to undertake a scheme for the expansion of its production capacities. In a communiqué to the stock exchanges, the company said that the expansion was expected to cost around Rs 25 crore. The ... More

ALLIANCES & JOINT VENTURES
Tatas enter direct-to-home TV with Star
THE Tata group on Tuesday formally announced its foray into the direct to home (DTH) television space. According to an official statement, the group holding company, Tata Sons, will hold 80 per cent equity in a joint venture with the Star ... More

Apollo Hospitals, DRDO in pact
THE Apollo Group of Hospitals has entered into a major technology partnership with the Defence Research & Development Organisation (DRDO) to leverage mutual strengths. Unveiling an agreement to this effect here on Monday, the President of ... More

PERFORMANCE
Delhi Centaur occupancy picks up
The hotel is completely sold out right up to March. If we consider the fact that only about 220-240 rooms of the 376 existing room are available for sale, the hotel occupancy rate will climb even higher than 100 per cent. More

Flakt recaptures market after 8 years
Not long ago a multinational major took over a smaller MNC which dealt (and very profitably too) in clean air equipment. Though a small company, it had an established brand with a significant market presence not only in India but in many ... More

PEOPLE
New head for Dr Reddy's in N. America
DR Reddy's Laboratories Ltd has roped in a top official of GlaxoSmithkline, Dr Dennis Langer, to head its North American operations. Dr Langer held various management positions with GlaxoSmithkline since 1994 and most recently served as Senior ... More

Athavale elected ICSI President
MR Mahesh Anant Athavale has been elected as the President of the Institute of Company Secretaries of India (ICSI) with effect from Monday. He succeeds Mr Pavan Kumar Vijay. According to an official communication, Mr Athavale has been ... More


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