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Thursday, March 31, 2005

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ANNOUNCEMENTS


Sirpur Paper installs rotary limekiln
SIRPUR Paper Mills Ltd has installed a rotary limekiln with a capacity of 120 tonnes per day. The Rs 20-crore kiln could convert lime sludge into high-purity lime. "It is mainly useful for solid waste recycling and resource recovery system ... More

AWARDS & HONOURS


Prathap Reddy gets US varsity healthcare leadership award
DR Prathap C. Reddy, Chairman of Apollo Hospitals Group, has won the Asia-Pacific BioBusiness Leadership Award 2005 given by Marshall School of Business of University of Southern California. Dr Reddy won the award for his efforts to ... More

COURTS/LEGAL ISSUES


Patent infringement of Pfizer drug — Ranbaxy to appeal against US court injunction
RANBAXY Laboratories Ltd will appeal against the US District Court's preliminary injunction barring the Indian generics company and Teva Pharmaceuticals from selling quinapril tablets used for treating blood pressure in the US market as it was ... More

CREDIT RATING


Default rates decline for Crisil-rated companies
Crisil's rated companies' default rates for the last five years average 2.27 per cent, lower than their average default rate of 2.95 per cent over the last 13 years. Default rates are on the decline, according to a study done by Crisil - the ... More

HUMAN RESOURCES


Air Deccan in pact with Kingfisher Airlines
AIR Deccan, India's first low-cost airline, has signed a non-poaching agreement with Kingfisher Airlines to ensure that the two airlines do not poach each other's pilots. The agreement was signed on Tuesday. Captain G.R. Gopinath, Managing ... More

MERGERS & ACQUISITIONS


Escorts acquires 100 pc stake in Polish co
ESCORTS Ltd on Wednesday announced that its wholly owned subsidiary, Escorts Agri Machinery Inc, US, has acquired 100 per cent equity in the Polish company, Farmtrac Tractors Europe Sp.zo.o (FTES). The acquisition comes in the wake of a major ... More

NEW PROJECTS


Sterling Group to invest in greenfield hotel in Bangalore
THE Sterling Group, an NRI company that operates restaurants and is engaged in other businesses in the Gulf region, has decided to invest in a greenfield hotel project in Bangalore. The company has made the city an operational centre with its ... More

JW Marriott Hotel in Bangalore by 2007
MARRIOT International has chosen Bangalore to locate its second property in the luxury brand, JW Marriott Hotel, which is scheduled to open in early 2007. The Garden City has earned the distinction of being the first city in the South while ... More

Land for IFFCO
HYDERABAD: The State Government has handed over 2,776 acres of land at Ragadichilika village in Nellore district to IFFCO for the establishment of ammonia and urea manufacturing plant. Disclosing this in the Legislative Assembly on ... More

ALLIANCES & JOINT VENTURES


Saudi Aramco may pick stake in HPCL's Vizag refinery — In return, oil PSU to take equity in Yanbu project
THE Saudi Arabian oil company, Saudi Aramco, is likely to pick up stake in Hindustan Petroleum Corporation Ltd's (HPCL) Visakhapatanam refinery as part of a cross investment plan where HPCL will get equity in Aramco's upcoming refinery at Yanbu, ... More

M&M divests stake, exits Ford India
THE longstanding equity relationship between Mahindra & Mahindra Ltd (M&M) and Ford India Pvt Ltd (FIL), that was commenced to help Ford's entry into the Indian market through the erstwhile Mahindra-Ford joint venture, has formally ... More

Strides inks pact with US major for injectible drugs
STRIDES Arcolab Ltd has announced that it has entered an agreement with a US hospital major to develop, licence and manufacture four specialised injectible products. It did not divulge the name of its new - and fourth - US partner in the ... More

Kochi Refineries signs MoU with BPCL
KOCHI Refineries Ltd (KRL) has signed an MoU with Bharat Petroleum Corporation Ltd, which envisages a crude oil throughput of 7.5 million tonnes and a turnover of Rs 12,862 crore for 2005-06. KRL is expected to generate a gross margin of Rs ... More

To source battery range — TAFE-Power ties up with Chinese co
TAFE-Power Source, a division of Tractors and Farm Equipment Ltd, has signed an agreement with B.B. Battery Company Ltd of China to source a range of valve regulated lead acid (VRLA) batteries. Under the agreement, TAFE Power Source hopes to ... More

OUTLOOK


Himalya in contract farming pact with HP potato farmers
HIMALYA International Ltd (HIL) has made backward linkage by way of contract farming in potatoes with farmers of Paonta Sahib in Himachal Pradesh. The company has provided seeds, organic manure, and total technology to the farmers. A total of ... More

GAIL not to reduce gas supply through HBJ pipeline
THE confusion over supplies through the Hazira-Bijapur-Jagdishpur (HBJ) pipeline by GAIL beginning April 1 is expected to be resolved soon with the intervention of the Union Ministry of Petroleum and Natural Gas. According to informed ... More

Coal India-NLC combine plans large thermal power projects
COAL India Ltd (CIL) has decided to enter into the power generation business jointly with Neyveli Lignite Corporation (NLC). To begin with, a 2,000-MW capacity thermal power plant is to be set up at the pithead of one of the mines located in the ... More

Jessop set to post Rs 4.5-cr net profit
JESSOP & Co Ltd is set to end this fiscal with a net profit of approximately Rs 4.5 crore on a turnover of over Rs 70 crore. The company registered a net loss of Rs 6.38 crore on a turnover of Rs 45 crore during 2003-04. The company registered . More

NMDC raises target for iron ore, diamond
THE National Mineral Development Corporation (NMDC) has signed a memorandum of understanding with the Union Ministry of Steel, laying down targets for the year 2005-06. Accordingly, the target for finished iron ore has been fixed at 210 lakh ... More

PERFORMANCE


LG's refrigerator sales up in Feb
EVEN as the refrigerator market degrew in February, LG Electronics India has registered a growth of 25.7 per cent in the month according to recent ORG MARG figures. According to the company, it has also gained significantly in market share - ... More
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