The Hindu Business Line : Friday, May 13, 2005

Ranbaxy makes fresh filings for three ARVs
RANBAXY Laboratories Ltd has made three fresh filings of its anti-retroviral (ARVs) formulations to the WHO for approval, taking the total number of filings submitted to eight. The formulations filed most recently include fixed dose ... More

RPG to terminate joint ventures with Dairy Farm
ENDING months of speculation, RPG Enterprises on Thursday officially confirmed that it had concluded discussions with the Hong Kong-based Dairy Farm International , to terminate their joint venture agreements in India. An RPG press release, ... More

Moving Picture gets $2 m order from Sharjah co
MOVING Picture Company (India), a listed company, announced that it has received orders worth $2 million to be executed in the next 18 months from Roseberry Global FZE, Hamriyah Free Zone, Sharjah. The order entails production and exclusive ... More

Bajaj Tempo officially becomes Force Motors
The Registrar of Companies, Maharashtra, has on Thursday issued the certificate for change of name from Bajaj Tempo Ltd to Force Motors Ltd. The new name comes into effect immediately. Mr Abhay Firodia, Chairman and Managing Director, Force ... More

Prajay Engg to set up hotel
HYDERABAD: Prajay Engineers Syndicate Ltd has announced that it has received the necessary approvals from the authorities to set up a 5-star hotel near Hyderabad. The company said it had already acquired the required land for the ... More

Datamatics to pay Rs 2.5
THE Mumbai-based Datamatics Technologies has informed the BSE that its board of directors has recommended a final dividend of 25 per cent for 2004-05. At a meeting today, the board also appointed Chairman Dr Lalit S. Kanodia as Wholetime ... More

AWARDS & HONOURS

Defence technology awards
HYDERABAD: MTAR Technologies, Hyderabad, has been selected for the Defence Technology Absorption Award, along with High Energy Batteries, Tamil Nadu, as part of the DRDO 2004 awards. The awards are given to outstanding contributions ... More

MRPL gets Jawaharlal Nehru award
NEW DELHI: The Centre for High Technology (CHT) has selected Mangalore Refinery and Petrochemicals Ltd (MRPL) for the Jawaharlal Nehru centenary awards for energy performance of refineries for 2003-04. The award was presented on Thursday ... More

INSIGHT

Coal imports SAIL into trouble
RECENTLY the Director (Commercial) of Steel Authority of India Ltd. (SAIL) was asked to go on leave pending an enquiry into alleged irregularities in spot purchase of coking coal. The story, as can be gleaned from newspaper reports on the ... More

COURTS/LEGAL ISSUES

HC stays order discharging caveatable right of Birlas for 10 weeks
A Division Bench of the Calcutta High Court, comprising Mr Justice Pinaki Chandra Ghose and Mr Justice P.N. Sinha, on Thursday admitted two appeals filed by the Birlas, challenging the two orders passed on March 11, 2005 by a single judge. The ... More

SC panel visits TTP
THIRUVANANTHAPURAM: The Supreme Court Monitoring Committee on Hazardous Wastes inspected on Thursday the factory of Travancore Titanium Products (TTP), which is facing closure for failing to adhere to pollution control norms. Apart from ... More

FINANCIAL PERFORMANCE

Finolex Cables Q4 net up at Rs 10.13 cr
FINOLEX Cables Ltd has recorded sales of Rs 570.76 crore for the year ended March as compared to Rs 455.64 crore for the preceding year, an increase of 25.26 per cent. Profit before tax was up by 14.04 per cent at Rs 37.13 crore as compared to Rs ... More

MERGERS & ACQUISITIONS

United Phosphorus in talks to buy Shaw Wallace Agro
THE agrochemicals major, United Phosphorus Ltd (UPL), after a slew of overseas acquisitions, is likely to effect a domestic buyout. It is in advanced talks to buy SWAL Corporation (formerly Shaw Wallace Agrochemicals Ltd), the Rs 75-crore ... More

Nagarjuna Palma, NFCL merged
HYDERABAD: The Andhra Pradesh High Court has approved the scheme of amalgamation of Nagarjuna Palma India Ltd (NPIL) into Nagarjuna Fertilizers & Chemicals Ltd (NFCL), according to the latter's communiqué to stock exchanges. The company ... More

NEW PROJECTS

Choose investors very carefully, Tata Steel MD tells Jharkhand
Mr Munda said the State would entertain only those prospective investors who ensure maximum benefit to the State and its people in the long term. More

Ashapura-Sichuan wins bid to set up Gujarat alumina plant
THE Ashapura Minechem-Sichuan Aostar Aluminium Corporation combine has won the bid to set up a one million tonne alumina plant at a cost of Rs 2,500 crore in Gujarat. Man Industries Ltd was the other bidder for the project. Ashapura Minechem ... More

Essar Power plans Rs 4,000-cr investment in new capacity
ESSAR Power hopes to tie up finances for its proposed 1,500 MW power plant in the next three months and complete the project in three years. With the expansion, the installed capacity of Essar Power will rise to over 2,000 MW. "We hope to ... More

ITC in talks with three States for paper project location
THE final location of the proposed Rs 2,500-crore greenfield integrated pulp and paper project of ITC Ltd has not yet been decided. It could be either in Madhya Pradesh, Gujarat or Andhra Pradesh, where two of ITC's paperboard units are ... More

OVERSEAS INVESTMENTS

Overseas investment ceiling raised to 200 pc of networth
THE Reserve Bank of India has announced that the ceiling of overseas investment for Indian companies has been raised from 100 per cent of their networth to 200 per cent, said a press release from RBI. Under the automatic route for overseas ... More

ALLIANCES & JOINT VENTURES

Strides in pact with KV Pharma
BANGALORE: Strides Arcolab Ltd today announced that it has signed a licence agreement with KV Pharmaceutical Company, for exclusive marketing rights in the US and Canada for 10 new generic drugs. KV Pharma will also make an investment of ... More

OUTLOOK

Havell's looking for aquisitions
HAVELL'S India Pvt Ltd, the power distribution equipment company, plans to open offices in Nigeria, Kenya, Sri Lanka and Indonesia this fiscal. The company is also looking for acquisitions within and outside the country, apart from undertaking a ... More

STC told to focus on exports
THE State Trading Corporation (STC) should focus on increasing its export turnover since the company's more than Rs 10,000 crore turnover during 2004-05 was on account of increase in its import turnover amounting to Rs 8,422 crore. Stating ... More

PEOPLE

Savitri Jindal is group chairperson
MS Savitri Jindal on Thursday became the Jindal Group Chairperson, succeeding her late husband O.P. Jindal, following the board meeting of Jindal Steel & Power Ltd, where she was appointed additional director and chairperson of the board. At . More

UB gets new Executive V-P
NEW DELHI: The UB group has appointed Ms Nandini Verma as Executive Vice-President, Corporate Affairs. Mr Vijay Mallya, Chairman of the UB Group, announced this at a press conference on Wednesday. Ms Verma, who has held several ... More

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