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Wednesday, May 05, 2004

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ANNOUNCEMENTS
One producer, one movie, two versions — K Sera Sera to share profits with actors
IT is a simple act of cost pruning exercise but could end up bringing in windfall gains for actors as well as the producer. K. Sera Sera Productions Ltd, a stock market listed film production company, is entering into partnerships with actors ... More

Blue Dart map includes Hyderabad as 6th hub
BLUE Dart Express Ltd, a leader in the Indian express market with a 38-per cent market share, has made Hyderabad its sixth aviation hub after New Delhi, Mumbai, Chennai, Kolkata and Bangalore. The new hub will be connected to company's aviation ... More

Dr Reddy's `withdraws' compound patent challenge on GSK
INDICATING that it would not enter the US market with anti-nausea drug Ondansetron before the expiry of the compound patent, Dr Reddy's Laboratories Ltd has partially withdrawn its challenge on the compound patent of GlaxoSmithKline's (GSK) ... More

Wockhardt to begin human trials on new compound
WOCKHARDT Ltd is set to start human clinical trials on its antibacterial compound for treating respiratory infection. The Mumbai-based pharma company today informed BSE that it had received approval from the Drug Controller General of India ... More

BEML to invest Rs 300 cr in off-road trucks venture
BHARAT Earth Movers Ltd (BEML) plans to invest Rs 300 crore in a joint venture with Czech truck maker, Tatra AS to set up a manufacturing plant to produce off-road trucks. The PSU, which has massive export targets, proposes to set up ... More

PREFERENTIAL ALLOTMENTS
Welspun India EGM okays pref offer
WELSPUN India Ltd has informed Bombay Stock Exchange that at extraordinary general meeting held on April 30, its members have approved the following: The preferential offer of 28.34 lakh equity shares will be made to Welspun Mercantile Ltd to ... More

MANPOWER
IFCI offers VRS benefits to officers on contract, but workers protest
Much to the unhappiness of a large segment of its employees, IFCI has decided to offer full benefits of the ongoing voluntary retirement scheme (VRS) to a handful of senior management people who have been hired on contract. According to sources ... More

MERGERS & ACQUISITIONS
Continental mulls stake in Metro Tyres
GERMAN tyre maker Continental AG may soon begin talks with the Metro Group for taking an equity exposure in Metro Tyres Ltd, the flagship company of the Rs 300-crore Metro Group. ``We are not averse to picking an equity stake in Metro Tyres. If ... More

NEW PROJECTS
Pioneer Hakoba centre nearing completion; to open Dubai office
PIONEER Embroideries, better-known for taking over the Hakoba brand and its operations in Mumbai, has almost completed its Hakoba Trade Centre at Borivali, Mumbai. The centre, to be ready later this month, will have 14 stalls of about 250 sq ... More

Timex shifts part of production to Himachal
TIMEX Watches Ltd has decided to shift part of its production to a new assembly facility that the company has set up in Parwanoo, Himachal Pradesh. At present, the company has manufacturing operations at Noida. According to Mr Kapil Kapoor, ... More

Tatra Trucks joins hands with Fainsa for seating systems
TATRA Trucks India Ltd, a 50:50 joint venture between the Czech-based Tatra AS and Vectra, is in the process of setting up a new unit for manufacturing seating systems for vehicles in a technical tie-up with the Spanish company Fainsa. ... More

`Somany' proposes to set up new manufacturing facility in AP
SPL Ltd, manufacturers of floor and wall tiles under the `Somany' brand name, plans a greenfield tiles manufacturing plant in Andhra Pradesh to consolidate its market presence in the South. The company, which invested about Rs 40 crore to ... More

ALLIANCES & JOINT VENTURES
Castrol ties up with Mahindra Tractors
CASTROL India Ltd has tied up with Mahindra Tractors to develop, produce and supply specially formulated diesel engine oils. The product developed for Mahindra Tractors is called Castrol CRB Prima, a variant of Castrol's CRB Plus multigrade ... More

SICK UNITS
50 pc equity write-down in Pennar debt recast scheme
THE lenders and members of the Corporate Debt Restructuring (CDR) Forum led by the Industrial Development Bank of India (IDBI) have cleared a debt revamp scheme for Pennar Industries Ltd (PIL), the Hyderabad-based ailing cold rolled steel strips ... More

OUTLOOK
Epson eyeing No 1 spot for projector market
The company, which has about 13 per cent market share at present, is launching various initiatives to consolidate its position in the Indian market, said Mr K. Venkateswaran, Manager, visual instruments division, Epson India Pvt Ltd. The Indian ... More

Frankfinn plans to open more centres
FRANKFINN Institute of Air Hostess Training plans to augment its presence in India and also seek a presence in West Asian countries such as Dubai, Bahrain and Oman. The company offers cabin crew training in 27 centres across the country. The ... More

PERFORMANCE
GM car sales up 74 pc in April
GENERAL Motors India has registered a 74 per cent growth in sales of its cars in April 2004 compared with the figures in the same month last year. "The continuing growth in sales of GM in India is primarily due to the tremendous response to ... More

Murugappa joins billionaire club — Turnover put at Rs 5,200 cr
THE Chennai-based Murugappa group on Tuesday said that its turnover has crossed the $1-billion mark in 2003-04. The turnover was about Rs 5,200 crore ($1.17 billion), a 25 per cent growth over the previous year's figure of about Rs 4,200 crore. ... More


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Top Stories
Tirupur knitwear exports set to touch $1 billion


Dr Reddy's `withdraws' compound patent challenge on GSK

To cope with increased demand — SEBI strengthening tech infrastructure

Cotton prices may fall next season

Tobacco Board decision on Karnataka crop today — Growers plan stir against low prices

274 Central sector projects suffer cost, time overruns

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Looking back
Apr. 25-May. 1
Nicholas Piramal to invest Rs 200 cr in R&D, expansion

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Reliance lays out Rs 35,000-cr capex plans


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