The Hindu Business Line : Wednesday, June 22, 2005

Kinetic unveils Italijet
THE much-awaited Italijet scooters from the Pune-based Kinetic Engineering Ltd (KEL), was unveiled at the company showroom in Pune on Tuesday by Mr Arun Firodia, Chairman, Kinetic Group. Talking to newspersons, Ms Sulajja Firodia Motwani, Joint ... More

Aurobindo Pharma gets USFDA nod for another ARV
AUROBINDO Pharma Ltd (APL) has announced that it has crossed one more milestone in the arena of anti-retrovirals (ARVs) with the United States Food and Drugs Administration granting tentative approval for the company's ARV drug - ... More

Balrampur Chini exits branded sugar biz
INDIA'S biggest sugar producer, Balrampur Chini Mills Ltd, has withdrawn from the branded sugar sector after failing to generate much enthusiasm among the consumers. The company introduced its branded product under the Balrampur Chini (Pyaar, ... More

SPIL taps salt farmers of Gujarat for SS pumps
SHAKTI Pumps India Ltd (SPIL) has identified and developed new market for its products - salt farmers. Salt farmers of Gandhi Dham in Gujarat have approached the company to install its stainless steel submersible pumps/motors for their salt ... More

PREFERENTIAL ALLOTMENTS

German DFI to pick up 15% stake in Aarvee Denim
DEG, a German development financial institution, is acquiring a 14.99 per cent stake in the Ahmedabad based Aarvee Denim and Exports Ltd. Aarvee is issuing 33.73 lakh equity shares of Rs 10 each at a premium of Rs 76 per share. Its shareholders ... More

Pitti to issue pref shares
HYDERABAD: The board of directors of Pitti Laminations Ltd will meet on Wednesday for allotment of 12 lakh shares to non-promoters and 3.9 lakh shares to promoters at a price of Rs 72 per share on a preferential basis. The company ... More

AWARDS & HONOURS

Wal-Mart award for Ranbaxy arm
NEW DELHI: Ranbaxy Laboratories Ltd's wholly owned subsidiary, Ranbaxy Pharmaceuticals Inc, has received the Supplier Award from Wal-Mart, the largest chain store in the US, for the first quarter of 2005. "Your Company has been ... More

ACCOUNTANCY

Govt may raise ICAI council strength to 35 members
THE Government may settle for a smaller expansion in the strength of the central council of the Institute of Chartered Accountants of India (ICAI) than what had been initially planned. Indications are that the Ministry of Company Affairs may ... More

ENVIRONMENT

India Inc eyes high earnings from carbon trading
The value of Certified Emission Reductions has fluctuated and has seen an overall upward trend during the past few months. More

RESTRUCTURING

Viceroy may hive off US arm
HYDERABAD: Viceroy Hotels Ltd may hive off its US-based wholly owned subsidiary. The company's board is scheduled to meet on June 30 to consider, among other things, divestment of entire equity in the US subsidiary, Mayuri India Cuisine ... More

MERGERS & ACQUISITIONS

Forbes Gokak to merge FAL with itself
FORBES Gokak Ltd has informed the BSE that its board has approved a scheme of amalgamation of FAL Industries Ltd with the company. Shareholders of FAL will be allotted one share of Forbes Gokak for every seven they hold. The company, along ... More

NEW PROJECTS

BMW may set up shop in Mahindra Industrial Park
BMW is likely to set up shop near Chennai. The German car manufacturer, it is learnt, has agreed to take up 18 acres of land in the Mahindra Industrial Park, at Maraimalai Nagar, some 40 km south of Chennai. BMW, whose stable includes ... More

Uttam Steel plans to double capacity
GALVANISED steel exporter Uttam Galva Steel Ltd (UGSL) is doubling its production capacity to 10 lakh tonnes of cold rolled and 7.5 lakh tonnes of galvanised steel by 2006, according to a press release. Currently, the company exports 70 per ... More

Sigma Hospitals to expand
SIGMA Hospitals, a unit of the Hyderabad-based DBR Hospitals Pvt Ltd, is planning to expand by setting up two 100-bedded hospitals, a diagnostic centre and 50 telemedicine units across Andhra Pradesh. Addressing presspersons while ... More

ALLIANCES & JOINT VENTURES

Hilton pact with Embassy Group for managing apartment block
HILTON International has signed a management contract with Embassy Group for a 250-unit serviced apartments in the city. The international hospitality major would be managing the proposed apartments at the Embassy Golf Links Business Park to ... More

Arch Pharma, Spanish co tie up
MANGALORE: Arch Pharmalabs Ltd, a manufacturer of pharmaceutical intermediates and active pharmaceutical ingredients, has signed a deal with a product originator and patent holder to produce active pharmaceutical ingredients at its ... More

BONUS ANNOUNCEMENTS

Suryalakshmi Cotton to issue 1:1 bonus shares
SURYALAKSHMI Cotton Mills has announced that the company plans to enter garment manufacture with an investment of Rs 20 crore. Announcing the company results on Tuesday, the company management has declared 1:1 bonus shares for its ... More

STANDARDS & BENCHMARKS

Dutch certification for NMDC
THE public-sector National Mineral Development Corporation (NMDC) has obtained certification from Det Norske Veritas (DNV) of the Netherlands for its four production projects in terms of the Environment Management Systems ... More

OUTLOOK

Crompton Greaves open to buys in industrial systems
CROMPTON Greaves, which made an overseas acquisition to grow its transformer business, reserves the possibility of doing something similar for its industrial systems business. There are no immediate plans though. The company earns 41 per cent ... More

LG Electronics eyes 25 pc growth in CTV sales
CONSUMER durables major LG Electronics India Ltd (LGEIL)said on Tuesday that it expects its CTV sales to grow 25 per cent to 3 million units this year, up from 2.4 million units in 2004. The company said growth was expected to be even higher ... More

Parryware eyes 40 per cent rise in sales in Kerala
PARRYWARE, the bathroom solution provider, has set a sales growth target of 40 per cent for Kerala this year. The company, which had forayed into taps and fittings accessories market in the State in mid-2004, gained a five per cent market ... More

Gujarat Gas may not take stake in Adani group arm
GUJARAT Gas Company Ltd, a fully owned subsidiary of British Gas, may not pick up strategic stake in the Adani group's gas distribution entity following a "cooling off" of negotiations between the two sides. Sources close to the negotiations ... More

ECONOMIC OFFENCES

Serious frauds office allowed to file complaints under IPC
GIVING more teeth to the Serious Frauds Investigation Office (SFIO), the Ministry of Company Affairs has allowed it to file complaints under the Indian Penal Code (IPC). This should enable the SFIO to move swiftly for successful prosecution of ... More

PEOPLE

Sanjeev Sethi joins Matrix Labs
HYDERABAD: Matrix Laboratories Ltd has announced that Mr Sanjeev K. Sethi has joined the company as the Senior Vice-President (Pharmaceuticals & Technical Services). . Mr Sethi was previously the Deputy Head of Global Research & ... More

Dr Rader joins Dr Reddy's board
HYDERABAD: Dr Reddy's Laboratories Ltd has announced that Dr Daniel Rader from the University of Pennsylvania in Philadelphia has joined the company's Scientific and Clinical Advisory Board. In a press release here on Tuesday, the ... More

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