COURTS/LEGAL ISSUES
Novartis' patent held valid; Dr Reddy's withdraws case
THE global pharma major, Novartis AG, announced on Friday that it had prevailed in its US patent infringement lawsuit with Dr Reddy's Laboratories Ltd. The lawsuit pertained to the oral antifungal agent, Lamisil Tablets (terbinafine ... More

MERGERS & ACQUISITIONS
ONGC Videsh to buy stake in Ivory Coast block
ONGC Videsh Ltd, wholly owned subsidiary of ONGC Ltd, has reached an agreement with Vanco Energy Company of US to buy 30 per cent stake in an exploratory block in offshore Ivory Coast. This will mark ONGC's first acquisition in Western Africa. ... More

Agri biotech lab acquisition
HYDERABAD: Transgene Biotech Ltd has informed the stock exchanges on Friday that the Department of Horticulture of Andhra Pradesh Government has accepted the company's bid to acquire on lease the Agriculture Biotechnology Research ... More

REGULATORY BODIES & RULINGS
Ministry orders inspection of Escorts cos' accounts
The Ministry of Company Affairs has ordered inspections into accounts of certain companies in the Escorts group. The group was in the news recently due to the differences between the Nanda brothers — Mr Rajan Nanda, Chairman of Escorts ... More

ALLIANCES & JOINT VENTURES
Govt okays HPCL's tie-up with French co for tech upgradation
THE Government has approved Hindustan Petroleum Corporation Ltd's (HPCL) technological collaboration with AXENS of France for upgradation of a few units of the company to meet the Bharat-II/Euro III emission norms. A total of seven foreign ... More

DIVERSIFICATION
VLCC plans foray into health tourism next year
The company has identified a plot at Delhi and will seek Rs 150-crore funding for setting up a residential spa. More

SICK UNITS
`Revival package for BHPV to be announced soon'
THE United Progressive Alliance (UPA) Government is committed to reviving the Bharat Heavy Plate and Vessels Ltd (BHPV) and nurse it back to financial health, Mr N. Janardhana Reddy, former chief minister and the member of the Lok Sabha from ... More

OUTLOOK
Electromags hopes to bag order from Bosch
ELECTROMAGS, a Chennai-based manufacturer of auto components, hopes to bag a major order from Bosch, UK. This order for slip rings (the part that goes into alternators in automobiles) will result in Electromags eventually supplying 13 million ... More

IBP bets on moving LNG by road
IBP Ltd plans a "side-door" entry into the LNG supply business. The oil company plans to invest Rs 15 crore in buying cryogenic containers costing Rs 30 lakh each for a pilot project to supply LNG to remote areas of Gujarat not connected by gas ... More

PERFORMANCE
GM posts 70 pc growth
GENERAL Motors India has recorded over 70 per cent growth in the first eight months of 2004 with total sales of 15,310 cars as compared to 8,986 vehicles sold in the year-ago period. These included 6,282 Chevy Optra in Entry D Luxury sedan ... More

Eicher Motors Aug CV sales up
NEW DELHI: Eicher Motors on Friday said sales of its commercial vehicles grew 88 per cent in August 2004 to 1,722 units over 915 units during the same month last year. Cumulative sales for the first five months rose 37 per cent and ... More