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Friday, May 07, 2004

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ANNOUNCEMENTS
USFDA inspects Divi's Labs facility
DIVI'S Laboratories Ltd has announced that its manufacturing facility located at Choutuppal near here was inspected by the US Food and Drug Administration (USFDA) during the first week of this month. According to a company's press release, ... More

LG Care enters FMCG market
LG Care on Thursday launched a range of premium products across eight key consumer categories, including toothpastes, shampoos, detergents, soaps and diapers. These products will be available in 200 product packs spread over the mentioned ... More

FIs assign security interest in Pennar
HYDERABAD: Pennar Aluminium Company Ltd (Palco) has informed the stock exchanges that the Asset Reconstruction Company (India) Ltd (ARCIL) has informed the company that under Section 5 of Securitisation & Reconstruction of Financial Assets ... More

Gravity India gets nod for capital hike
MUMBAI: Gravity (India) Ltd has informed the Bombay Stock Exchange that at the extraordinary general meeting of the company's shareholders held on April 30, 2004, the members approved the following: The increase of the company's authorised ... More

PREFERENTIAL ALLOTMENTS
Rajasthan Spgn okays pref issue
RAJASTHAN Spinning & Weaving Mills Ltd has informed the Bombay Stock Exchange that its board has approved the preferential issue of 20.36 lakh equity shares of Rs 10 each fully paid-up to be issued for cash at a premium of Rs 33 per share ... More

OVERSEAS BORROWINGS
Jubilant issues foreign currency bonds for $35 m
JUBILANT Organosys Ltd on Thursday announced that the company has issued unsecured and unrated five-year FCCBs (Foreign Currency Convertible Bonds) worth $35 million to international investors. The FCCBs have a 15 per cent conversion premium at ... More

Corporates rush to forward cover as rupee plunges
JOLTED by the sudden rupee depreciation corporates have begun rushing in to take forward cover on their hitherto unhedged exposures, especially external commercial borrowings. Banking sources said, that the rush for forward cover by jittery ... More

COMPANY LAW
Centre moves SC on company law tribunal
THE Supreme Court on Thursday admitted an appeal filed by the Centre challenging a Madras High Court order on the formation of a National Company Law Tribunal (NCLT). The Centre has approached the apex court against the High Court order issuing ... More

FINANCIAL PERFORMANCE
Havell's net higher, to pay 25% final
NEW DELHI: Havells's India Ltd has recorded a net profit of Rs 20.96 crore on a turnover of Rs 426.8 crore during fiscal 2003-04. During the previous year, the company recorded a net profit of Rs 8.97 crore on a turnover of Rs 297.30 ... More

BOC India net, turnover rise
KOLKATA: BOC India Ltd, a 55-per cent subsidiary of BOC Group Plc, posted eight per cent growth in turnover at Rs 347.2 crore (Rs 322.3 crore) and 80 per cent growth in net profit at Rs 29.3 crore (Rs 16.3 crore) during the year ended ... More

MERGERS & ACQUISITIONS
PHARMA COMPANIES ON ACQUISITION SPREE
Dr Reddy's buys US skincare co Trigenesis
DR REDDY'S Laboratories on Thursday announced the acquisition of Trigenesis Therapeutics Inc, the US-based, privately-owned skincare company. The total investment outlay is $11 million. The acquisition assumes significance for the company, as ... More

Wockhardt acquires German firm Esparma
WOCKHARDT Ltd has acquired a German pharma company called Esparma Gmbh for $11 million (Rs 49 crore). The acquisition does not include the company's manufacturing facility but covers the businesses, sales and marketing organisation and the name ... More

ALLIANCES & JOINT VENTURES
Apollo plans tie-up to tap clinical trial potential
APOLLO Hospitals plans to tie-up with a contract research organisation (CRO) to tap the potential offered by the clinical trials business. Clinical trials are carried out on human volunteers to test newly discovered drugs. "We are actively ... More

INTERVIEW
`Govt must do a lot to push pharma on to global stage'
A recent market strategy report, `Ballot proof picks,' lists NPIL among the top seven stock picks, along with companies such as Bharti, Maruti, Gujarat Ambuja, Reliance, Ranbaxy and Infosys. "We entered the industry in 1988, our turnover then ... More

OUTLOOK
Café Nescafe looks at institutions for growth
NESTLE India is looking at the institutional segment as a key thrust area for its Café Nescafe outlets. The company follows a flexible model with regards to the Café Nescafe outlets and the choice of module is adapted to cater to consumer ... More

LG Electronics to power up in rural India
LG Electronics India Pvt Ltd's growth in the years ahead would be fuelled by greater penetration in semi-urban and rural markets across the country, according to Mr Kwang-Ro Kim, Managing Director of the company. Speaking to newspersons on a ... More

Johnson Matthey to supply pharma catalyst products
THE 4.3-billion pound sterling, UK-based multi-products company, Johnson Matthey is all set to supply catalyst products tailored to Indian needs and use India as a launching pad for their Asian ambitions. "We are looking to provide process ... More

PERFORMANCE
Toyota April sales up 75 pc
TOYOTA Kirloskar Motor (TKM) sales grew 75 per cent to 4,148 vehicles in April 2004 compared with the same period a year ago. A press statement from Toyota said the company sold 3,333 Qualis in April 2004 compared with 1,720 units in the ... More

Tata Motors posts higher April sales
TATA Motors vehicle sales has registered a growth of 57.7 per cent for the month of April 2004, with a total sale of 24,961 vehicles, including exports, as against a sale of 15,829 vehicles sold in April last year. The sales in the domestic ... More


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Top Stories
Securitisation Act — Lender's right and liability


Mills stumped by SC ruling on cane pricing

Pharma majors alive with IT buzz

Johnson Matthey to supply pharma catalyst products

Corporates rush to forward cover as rupee plunges

Will investors favour gold securities?

PC sales likely to touch 4.2 m in 2004: MAIT

Paper stocks gain from rise in global prices

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

It may be curtains for NTC showrooms too

Reliance lays out Rs 35,000-cr capex plans


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