CORPORATE
ANNOUNCEMENTS
Electrolux to invest in R&D centre — To source IT services, components from India
CONFIDENT that its Indian arm, Electrolux Kelvinator Ltd (EKL), will be able to break even by the end of next year, Swedish major AB Electrolux has chalked out strategies for greater integration of its activities in India with its global ...
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Biocon Cuban venture adds 3 cancer vaccines
BIOCON Biopharmaceuticals, the joint venture with Cuban research company CIMAB, has said it has added five more products to the proposed portfolio. These will now include two additional monoclonal antibodies and three cancer vaccines, according ...
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Ranbaxy gets US FDA approval for diabetic drug
DRUG company Ranbaxy Laboratories Ltd said on Tuesday that its anti-diabetic drug has got the final approval from regulatory authorities in the US. The US Food and Drug Administration (US FDA) has given Ranbaxy the green signal to market ...
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LG, Kodak in pact for camera phone prints
LG Electronics Inc has announced its tie up with Kodak India Ltd to provide prints on Kodak paper from images captured on LG RD 7230 CDMA video camera phones. Owners of this phone can now walk into select Kodak Express outlets in 20 cities in ...
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OVERSEAS BORROWINGS
Dishman Pharma debt issue closes
DISHMAN Pharmaceuticals and Chemicals on Tuesday announced closure of its estimated $22 million debt issue programme. This issue was structured and syndicated by Rabo India Finance, with participation from multilateral agencies such as the ...
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HUMAN RESOURCES
BPCL staff stay away from work
EMPLOYEES of Bharat Petroleum Corporation Ltd today went on a strike to protest the "poor" management of a voluntary pension scheme. Close to 8,000 employees stayed away from work. However, refinery and direct marketing operations remained ...
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MERGERS & ACQUISITIONS
FT picks up 13.85 pc in Business Standard
AN 11-year partnership between the Financial Times and Business Standard was formalised today with a stock-holding deal, in which FT picked up 13.85 per cent stake in BS for Rs 14.1 crore. This, according to Mr David ...
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DHL set to acquire 100 pc stake in Indian operations
THE Foreign Investment Promotion Board (FIPB) has allowed Dutch major DHL Worldwide Express BV to convert its Indian operations into a wholly-owned subsidiary, despite strong opposition from the Department of Posts. However, it has imposed a ...
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NEW PROJECTS
Hind Zinc plans to expand lead smelter capacity
HINDUSTAN Zinc Ltd (HZL), a Sterlite group company, plans to expand smelter capacity of refined lead from the present 35,000 tonnes to 85,000 tonnes per annum, at an estimated cost of Rs 95 crore ($21 million). The enhanced capacity will be ...
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OUTLOOK
ONGC eyes crude, gas shipping biz
OIL and Natural Gas Corporation (ONGC) is planning to enter the crude and gas shipping business in the coming years with an aim to become a $50-billion company in the next five years. The company earlier announced its plans to enter the ...
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Art d'inox targets Rs 30 cr in revenues
ART d'inox, the lifestyle products division of Jindal Stainless Ltd, hopes to see its business grow by 250-300 per cent this fiscal. The division, which recently commissioned a plant to produce 400,000 units of its products, is targeting Rs 30 ...
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PERFORMANCE
ONGC: A disappointing show
THE central theme of Oil and Natural Gas Corporation's (ONGC) disappointing performance in the fourth quarter of 2003-04 and the whole year is the regulatory risk that the company is subject to. Revenue and earnings have been hit badly by the ...
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NDTV turns cash positive in Q4
NDTV Ltd on Tuesday reported a cash break-even in the fourth quarter ended March 2004, with an earnings before interest, depreciation and tax and amortisation (EBIDTA) of Rs 1.75 crore. This turnaround in the fourth quarter took place after a ...
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PEOPLE
Pichai to head Ma Foi tech division
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