The Hindu Business Line : Saturday, September 03, 2005

TVS Motor launches 3 new models
These included the Victor Edge motorcycle, featuring a new125cc engine and the Star City, a freshly styled 100cc 4-stroke motorcycle. Also unveiled was the Scooty Pep+, which has a new 90cc engine. While the motorcycles would be available ... More

Lupin forms panel to help doctors in rural areas
WHEN Lupin had to fly down doctors from Mumbai to Guwahati to treat an employee who was critically ill, the company decided that it had to extend itself beyond its pharmaceutical ambit. It was not the lack of infrastructure, but knowledge on ... More

Mukesh Ambani group to use RIIL for funding cos
THE Mukesh Ambani Group has decided to use the relatively-unknown Reliance Industrial Infrastructure Ltd (RIIL) for funding its major group companies, including an overseas venture. In the process it might also increase its exposure to these ... More

ONGC strikes gas in KG basin
THE Krishna-Godavari (KG) basin seems to be yielding results for oil and gas exploration companies such as Reliance Industries Ltd (RIL), Gujarat State Petroleum Corporation (GSPC) and Oil and Natural Gas Corporation (ONGC). ONGC has said that it ... More

Daimler India to drive in Actros trucks next year
DAIMLER Chrysler India on Thursday said it plans to launch its premium commercial vehicle, Actros, in India early next year and will also introduce the next generation S-Class Mercedes in the latter half of 2006. "We are at the end of the ... More

ICSA moots 15% dividend
HYDERABAD: ICSA India Ltd has recommended a dividend of 15 per cent for the financial year 2004-2005. The company's eleventh annual general meeting is slated for September 28. ... More

Jagsonpal Pharma develops drug to bust stress
JAGSONPAL Pharmaceuticals Ltd has launched a new anti-oxidant syrup, which has been developed in collaboration with Israel-based LycoRed Natural Products Industries. Called LycoRed, the syrup contains lycopene, an anti-oxidant that helps fight ... More

OVERSEAS BORROWINGS

IL&FS Investsmart plans GDR issue
MUMBAI: IL&FS Investsmart Ltd is to raise its share capital in the international capital markets by way of an issue of global depository receipts (GDRs) for an amount not exceeding $90 million excluding a green shoe option. The board of ... More

NCC board to consider GDR issue
HYDERABAD: A meeting of the board of directors of Nagarjuna Construction Company Ltd has been convened on September 8 to consider in-principle approval for raising funds through a Global Depository Receipts issue, according to a company ... More

OUTSOURCING

Thermax to increase sourcing from China
THERMAX Ltd plans to significantly increase its sourcing of components and raw materials from China over the next 12 to 18 months. It now sources about Rs 30 crore worth of raw materials and components, according to Ms Meher Pudumjee, ... More

MANAGEMENT

`Breakthrough' management — the new mantra
The key to breakthrough management is to unlearn what has been learnt and learn new strategies. More

RESTRUCTURING

Ranbaxy divests allied businesses to ICICI Venture
RANBAXY Laboratories Ltd has decided to divest its allied businesses comprising fine chemicals, the animal healthcare business and part of its diagnostics business to ICICI Venture Funds Private Ltd. While the company did not divulge the size ... More

IBP to hive off LPG division to IOC
IBP Co Ltd will soon hive off its LPG division to Indian Oil Corporation Ltd. This was stated by Mr Sarthak Behuria, Chairman of both the companies, at the 97th annual general meeting of IBP Co Ltd held here today. The hiving off process would ... More

Shree Rama on expansion mode; plans financial rejig
The company is looking at China, Nigeria and South Africa for a mix of acquisition opportunities as well as clients. More

MERGERS & ACQUISITIONS

ACC shareholders okay resolution
MUMBAI: ACC shareholders have approved a resolution for the sale of the company's refractories undertaking comprising Katni Refractory Works in Katni district of Madhya Pradesh and Nagpur Refractory Works in Nagpur district of Maharashtra, to ... More

Lupin looking for local acquisition
Lupin is looking at candidates for acquisition locally, said Mr Sakti Chakraborty, Lupin's President - India Region Formulations. Unwilling to divulge details on what would be the size of the acquisition that the company was looking at, he ... More

NEW PROJECTS

Welspun to start Rs 650-cr phase II expansion
WELSPUN India Ltd announced that second phase of its expansion at its Anjar unit will start soon. The expansion is estimated to cost Rs 650 crore and will be funded through a mix of debt and equity. According to the company, Rs 400 crore will ... More

Magnum Steel plans Rs 212-cr greenfield plant in Chhattisgarh
CONSTRUCTION and alloy steel maker Magnum Steel Ltd has charted out plans for setting up Rs 212-crore greenfield wire rod and long products plant in Chhattisgarh. The company has already acquired around 36 acres of land and plans to acquire a ... More

ALLIANCES & JOINT VENTURES

Lupin signs pact with DSM
MUMBAI: DSM Anti-Infectives India Ltd and Lupin Ltd have entered into a supply and marketing agreement for cephalosporins in the global market. A Lupin official told Business Line that the multi-year agreement covers DSM's global ... More

HMT, Mitsubishi in talks
NEW DELHI: HMT Ltd said on Thursday that it was in discussion with Japan's Mitsubishi Motors Corporation to form a joint venture to make utility vehicles. "Talks are at a preliminary stage. It is for making multi-utility vehicles and ... More

ONGC, Norsk Hydro ink pact — To explore projects in Iran, Cuba: Aiyar
ONGC Videsh Ltd (OVL), the overseas arm of ONGC, has inked a memorandum of understanding (MoU) with Norsk Hydro, a private Norwegian upstream company. Speaking to presspersons from Oslo in a teleconference here today, Mr Mani Shankar Aiyar, ... More

Pantaloon to step into footwear retailing with Liberty
PANTALOON Retail (India) Ltd (PRIL) and Liberty Shoes Ltd have entered into a joint venture to set up a chain of stores for footwear retailing and other accessories. PRIL will hold 51 per cent and Liberty 49 per cent stake in the new company. ... More

DVC, Tata Power sign pact for Jharkhand project
DAMODAR Valley Corporation (DVC) on Friday signed the shareholders agreement with Tata Power Company (TPC) for executing a 1,000-MW thermal power project in Jharkhand through the joint venture route. "We are signing the agreement with TPC ... More

PERFORMANCE

Rashtriya Ispat achieves Rs 985-cr sales
RASHTRIYA Ispat Nigam Ltd (the Vizag Steel Plant) achieved a sales turnover of Rs 985 crore in during August, according to a press release issued by the company. The plant produced 3,53,595 tonnes of hot metal, 3,08,778 tonnes of liquid steel, ... More

Aditya Birla Group's cement despatches up
THE Aditya Birla Group's cement production for August grew 22.92 per cent to 21.32 lakh tonnes while dispatches rose 24.38 per cent to 21.38 lakh tonnes over August 2004. The Group's cement production for the April-August 2005 period was 114.08 ... More

PEOPLE

G. Narayanan is new MD of STCI

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