The Hindu Business Line : Friday, July 29, 2005

When panic gripped Mumbai High and orange overalls turned red
But the rig could accommodate only a limited number of people and Mr George was forced to go down a ladder along the rig's legs and jump into the raging sea. He had his life jacket on and was picked up four and a half hours later by a rescue vessel. More

No threat to energy security, says Aiyar
THE impact on the country's oil supply from Wednesday's accident at Mumbai High can be contained. The Union Minister for Petroleum, Mr Mani Shankar Aiyar, today said: "Our energy security is in no way compromised." Any fresh oil import needed ... More

Mumbai High: Govt begins operation to counter pollution
CONSEQUENT to the fire incident in Mumbai High and in anticipation of oil pollution, a pollution response operation has begun today, according to the Ministry of Defence. An aircraft is undertaking aerial dispersal of oil spill dispersants for ... More

ANNOUNCEMENTS

Dr Reddy's to sell Goa facility
DR REDDY'S Laboratories Ltd has decided to dispose of its finished dosages facility at Goa. The decision was taken by the company board at its meeting here on Tuesday to take on record the unaudited financial results for the first quarter of ... More

Glenmark commences export of blood-pressure drug to US
THE Mumbai-based drug company Glenmark Pharmaceuticals Ltd has started exporting to the US, the chemical equivalent of fosinopril sodium oral tablets used to lower blood pressure and treat congestive heart failure. Glenmark Pharmaceuticals ... More

MERGERS & ACQUISITIONS

IOC bids for 51% stake in Turkish co
INDIAN Oil Corporation has submitted a bid for a 51 per cent stake in Tupras, the Turkish oil refining company, the Petroleum Minister, Mr Mani Shankar Aiyar, informed the Rajya Sabha in a written reply. Mr Aiyar was responding to a question on ... More

Kalyani group sells stake in joint venture to Bosch
THE Kalyani group has sold its 40 per cent stake in Kalyani Brakes Ltd to its foreign partner, the Bosch group, for Rs 285 crore. Kalyani Brakes is a joint venture between the Kalyani Group and the Bosch group, each holding 40 per cent stake ... More

TRADE & LABOUR UNIONS

Honda labour problem reverses scooter market momentum
THE labour unrest at Honda Motorcycle & Scooter India's (HMSI) unit in Manesar has taken its toll on growth in the domestic scooter market as well. The segment which had seen a turnaround largely due to popular launches from HMSI's stable, fell . More

OUTLOOK

Oswal's Malwa embarks on Rs 480-cr expansion drive
MALWA Industries, a part of the Rs 550-crore Malwa Group of Oswals, said that it was executing a Rs 480-crore expansion plan, including the takeover of two overseas denim manufacturing firms. The company, which is targeting a four-fold ... More

Igarashi aiming to become full service supplier
IGARASHI Motors India Ltd is modelling itself to become a full service supplier related to motors to the global automotive industry, following the global trend. Igarashi Motors makes motors and motor sub-assemblies for the automotive industry ... More

Dr Reddy's may rope in Danish co for clinical trials
HAVING outlicensed its diabetes molecules to the global pharma giants such as Novo Nordisk and Novartis in the past, Dr Reddy's Laboratories Ltd is now working out a deal with a Danish pharma major for similar arrangement to carry out further ... More

Cummins set to launch new series of engines
CUMMINS India Ltd is set to launch its B series of diesel engines by the second half of the current fiscal. The engines would be assembled at the Tata Cummins facility in Jamshedpur. Talking to newspersons after the company's annual general ... More

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