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Friday, April 08, 2005

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ANNOUNCEMENTS


Dr Reddy's launches drug for diabetic foot ulcers
DR Reddy's Laboratories Ltd has announced the launch of Plermin (generic name: recombinant human platelet derived growth factor - rhPDGF), the first drug in the country for the treatment of diabetic foot ulcers. The product would be available ... More

COURTS/LEGAL ISSUES


Kerala HC allows Coke to draw groundwater
A DIVISION Bench of the Kerala High Court today held that the Hindustan Coca-Cola Beverages Private Ltd is entitled to draw 5 lakh litres of groundwater a day at its plant in Plachimada in Palakkad without any right for accumulation in case of ... More

MERGERS & ACQUISITIONS


GVK Petro acquires 22.89 pc in Taj GVK
TAJ GVK Hotels & Resorts Ltd has informed the stock exchanges that S.B. Finance Pvt Ltd and GVS Finance Pvt Ltd have been amalgamated with GVK Petrochemicals Pvt Ltd following the orders of the Andhra Pradesh High Court dated December 30, 2004. More

Areva to acquire 66 pc in Alstom's Indian unit
FRENCH energy major Areva SA plans to spend as much as Rs 80.6 crore to acquire a 66.35-per cent stake in Alstom Ltd, Alstom Holdings SA's Indian unit. Areva will also make an offer worth Rs 59.8 crore to the shareholders of Alstom Ltd to buy ... More

Actis to invest $12 m in TEMA
ACTIS, a leading private equity investor in emerging markets, has announced an investment of $12 million (Rs 52 crore) to acquire a significant stake in TEMA India Ltd, the heat exchanger manufacturer specialising in designing and fabricating ... More

ALLIANCES & JOINT VENTURES


Taj, ETA Star tie up to develop luxury resort
TAJ Hotels Resorts and Palaces has extended its presence in West Asia by entering into a strategic tie-up with ETA Star Property Developers LLC for the development and management of the Taj Exotica Resort and Spa, a luxury resort at the Palm ... More

OUTLOOK


IOC, Saudi Aramco plan merchant storage oil terminal — Drop plans for facility to store crude reserves
INDIAN Oil Corporation and Saudi Aramco, the world's largest oil company, have dropped the idea of building strategic crude storage facility for India. With crude oil prices reaching record highs of more than $55 a barrel, the two companies may ... More

Goodricke's expansion hinges on Japanese deal
WITHIN the next two months Goodricke Group Ltd would take a decision on whether they would set up their second instant tea plant of 600 tonnes a year capacity at a cost of Rs 35 crore. Mr K.S. David, Managing Director of Goodricke Group, said a ... More

BHEL Hyderabad targets 52 pc growth in turnover
BUOYED by the highest ever profit (PBT) of Rs 308 crore recorded during the fiscal ended March 31, 2005, Bharat Heavy Electricals Ltd (BHEL), Hyderabad, has set a target of Rs 2,675 crore turnover for the current fiscal, which works out to a ... More

PERFORMANCE


RINL achieves record Rs 8,181-cr turnover
RASHTRIYA Ispat Nigam Ltd has achieved a record turnover of Rs 8,181crore, 32 per cent higher than last year's, and expects a 20 per cent hike in net profit during 2004-2005. This was stated by Mr Y. Siva Sagara Rao, Chairman and Managing ... More

Tata Motors' sales up 27% in 2004-05
TATA Motors on Thursday reported a 27.2 per cent growth in total vehicle sales for 2004-05 to 3,99,566 units, including export, as against the previous corresponding 3,14,258 units. Domestic sales of commercial vehicles increased by 24.8 per ... More

SAIL division clocks higher iron ore output
THE Raw Materials Division (RMD) of SAIL, which supplies iron ore to Bokaro, Rourkela and Durgapur steel plants, has increased its production to 12.94 million tonnes in 2004-05 against 12.79 million tonnes in 2003-04. According to a release ... More

ECONOMIC OFFENCES


Minister urges speedy probe into white-collar crimes
UNHAPPY with the delay in initiating action against the companies that have indulged in white-collar crimes, the Minister of State (Independent Charge) for Company Affairs, Mr Prem Chand Gupta, has directed his Ministry to work out a time-bound ... More

SFIO returns JVG Group case to Co Affairs Ministry
TO avoid any overlap with the one-member enquiry committee investigating the JVG Group of Companies, the Serious Frauds Investigation Office (SFIO) is understood to have sent the case back to the Ministry of Company Affairs (MCA). The Ministry ... More

PEOPLE


Takedagawa takes over as chief of Honda Siel
HONDA Siel Cars India on Thursday announced the appointment of Mr M. Takedagawa as the company's new President and Chief Executive Officer. Mr Takedagawa has taken over from Mr H. Yamada, who has completed his three-year term as the Indian ... More

New Matrix CSO
HYDERABAD: Matrix Laboratories Ltd has announced the appointment of Dr B. Gopalan as its Chief Scientific Officer (CSO). In a release here on Thursday, the company said Dr Gopalan brings 30 years of experience in R&D to Matrix. ... More


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In Depth

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