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Friday, April 16, 2004

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ANNOUNCEMENTS
Ind-Swift to launch anti-diarrhoeal drug
IND-SWIFT Laboratories will be launching an anti-diarrhoeal molecule, Nitazoxanide, for the first time in Asia. This is the first molecule approved by the FDA in 40 years for Gardia, a parasite that causes diarrhoea. It will be the only ... More

Astra plans to buy residual public holding in Indian arm
ASTRA Pharmaceuticals AB (APAB) of Sweden, which currently holds 91.61 per cent in its Indian subsidiary - AstraZeneca Pharma India Ltd (AZPIL), plans to buy the residual public holding. As the public shareholding in AZPIL is less than 10 ... More

Elantra steers Hyundai into the executive segment
IN a bid to garner a sizeable market share in the fast-growing executive car segment, Hyundai Motor India on Thursday announced the launch of its sedan, Elantra. The car would compete with similar models from the stables of Toyota (Corolla) ... More

Aiwo plans more boutiques, restaurants
AIWO, a lifestyle company promoted by Mr C. Sivasankaran of the Sterling Group, plans to set up a chain of gourmet restaurants and health boutiques across 27 cities in India and abroad. The company will invest about Rs 90 crore this fiscal. ... More

PREFERENTIAL ALLOTMENTS
Samtel board okays pref allotment to ICICI Ventures
SAMTEL Color Ltd, one of the largest colour picture tube (CPT) manufacturers in the country, has got the approval of its board of directors to make preferential allotment of compulsorily partly convertible debentures aggregating to Rs 50 crore ... More

AWARDS & HONOURS
Sundaram Honda named `best dealer'
SUNDARAM Honda, Chennai, a unit of Sundaram Motors, has been judged the best dealer of Honda cars in India for 2003, according to a press release from Sundaram Honda. The contest between the dealers was based on customer satisfaction, sales, ... More

FINANCIAL PERFORMANCE
Varun Shipping clocks 214 pc increase in net profit
SAILING with the freight market boom, Varun Shipping Co Ltd has clocked a 214 per cent increase in net profit during 2003-04 to touch the Rs. 35.8-crore mark, as against Rs. 11.4 crore in 2002-03. The company's turnover rose from Rs. 236.7 ... More

RESTRUCTURING
HLL goes for business rejig, installs new management team
FMCG leader, Hindustan Lever Ltd (HLL), today announced major changes in the management and organisational structure in a bid to provide sharper focus on key brands and ensure better deployment of resources. Mr M.S. Banga, Chairman, HLL, has ... More

What the restructuring means
THE restructuring of arguably the most admired international corporation in the country is of great interest to many. Several no doubt will link some of the changes in people to the recent corporate results, seen in the stickiness in the topline ... More

HLL's windy days
HE inherited a dominant and nippy outfit when he took over as Chairman of Hindustan Lever on May 1, 2000. Precisely four years down the line, Mr M.S. Banga leaves behind a company that is at the crossroads. In the four years leading up to the ... More

Can HLL sustain growth levels?
IN 1999, Mr K.B. Dadiseth, then Chairman of Hindustan Lever Ltd, had warned that the company had grown to a significant size and in the years to come it may not be able to sustain the growth level. Today HLL is in the midst of a major ... More

ALLIANCES & JOINT VENTURES
Hero Mindmine in pact with TPCL
HERO Mindmine, a training division of Hero Corporate Service Ltd, part of the Rs. 9,400-crore Hero Group, announced its strategic alliance with Team Productivity Consultants Ltd. (TPCL). TPCL will help it consolidate as a training house and ... More

OUTLOOK
`Outsourcing of key functions to continue' — Novo Nordisk rules out manufacturing base
NOVO Nordisk has been in the country for 10 years but is in no hurry to change the way it operates here: largely through `outsourcing' its key India functions, including the manufacture of its insulin. At a time when many MNCs are looking at ... More

Gulf Oil expects revenue to grow 10-12 pc
GULF Oil Corp Ltd expects its total revenue for financial year 2003-04 to rise 10-12 per cent to Rs 450-Rs.460 crore, the Vice-President (Operations), Mr R.B. Ananth, said. The company expects to grow its business at 6-8 per cent annually, which ... More

Hero Motors to go public in five years — Plans units in Thailand, Brazil
HERO Motors has drawn a roadmap for itself, which includes taking the company public and setting up plants in Thailand and Brazil. "Private equity holders would be looking to exit. We expect to go public in the near term," Mr Pankaj Munjal, ... More


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