The Hindu Business Line : Thursday, October 20, 2005

Ranbaxy completes proof-of-concept studies of malaria molecule
RANBAXY Laboratories Ltd has claimed that it has successfully completed the proof-of-concept phase II studies of its anti-malarial molecule, RBx 11160, jointly developed with Medicines for Malaria Venture, Geneva. According to a company ... More

REC pays Rs 176.5-cr dividend to Govt
RURAL Electrification Corporation (REC) declared a 30 per cent dividend amounting to Rs 234.5 crore for 2004-05. A cheque for Rs 176.5 crore was handed over by Mr A.K. Lakhina, Chairman and Managing Director, REC, to the Power Minister, Mr P.M. ... More

NHPC contract for Hindustan Const
NATIONAL Hydroelectric Power Corporation has finalised contract agreements with Hindustan Construction Company Ltd for civil works for the 240-mw Uri-II and 231-mw Chamera-III hydel power projects in Jammu and Kashmir and Himachal Pradesh ... More

Vacuum packing of bulk tea
WATERFALL Estate (East) Pvt Ltd has introduced vacuum packing of bulk tea, which the company claimed, would capture the freshness of tea and seal its antioxidants. This would also extend the shelf life to beyond 12 months. Mr G. Gopalakrishnan, ... More

Natco Pharma board meet on Oct 24
HYDERABAD: Natco Pharma Ltd has informed the stock exchanges that its board would meet on October 24 to consider the unaudited financial results for the quarter ended September 30, 2005, and recommend an interim dividend. ... More

OVERSEAS BORROWINGS

Exim Bank funding for buys overseas may touch Rs 800 cr
EXPORT Import Bank of India is keen on funding overseas acquisitions by Indian companies. It is assessing about half a dozen proposals, which, if financed, will take its exposure to about Rs 800 crore by the end of this fiscal. Exim Bank, which ... More

COURTS/LEGAL ISSUES

NTC case: Maharashtra not to appeal, says CM
THE Maharashtra Government will not appeal against the verdict of the Bombay High Court in the mill land case. However, it will seek legal advice on the implications of the verdict. There is still ambiguity about the verdict, the Chief ... More

CREDIT CARDS & DEBIT CARDS

GAIL appoints UK co as technical consultant for pipeline project
GAIL (India) Ltd on Wednesday said that the UK-based ILF Consulting Engineers Ltd has been appointed `technical consultant' to carry out a pre-feasibility study for the Iran-Pakistan-India pipeline project. In a statement issued here, GAIL ... More

MERGERS & ACQUISITIONS

Pantaloon's Idiom for `design management'
MR KISHORE Biyani, Managing Director of the Rs 1,100-crore Pantaloon Group has designed a new role for himself. He's reportedly invested about Rs 3 crore (in his personal capacity) in Idiom, a Bangalore-based design firm, but Mr Biyani maintained ... More

Gujarat Glass to buy GGI's cosmetics biz
PIRAMAL-GROUP company Gujarat Glass Pvt Ltd (GGPL) has approved the acquisition of the cosmetics and perfumery business of The Glass Group Inc (GGI), the erstwhile Wheaton, in the US for Rs 81 crore. The move catapults Gujarat Glass to a place ... More

NEW PROJECTS

ISRO to fund titanium sponge unit of KMML
THE State-owned Kerala Minerals and Metals Ltd (KMML) in Kollam district will set up a unit to manufacture titanium sponge with a capacity of 500 tonne per annum to meet the needs of the Indian Space Research Organisation (ISRO). Disclosing ... More

GAIL finds FACT land too pricey
GAIL (India) negotiating team's discussions with the officials of Fertilisers and Chemicals Travancore Ltd (FACT) for the purchase of 220 hectares of land from the latter for setting up the Rs 6,058-crore petrochemical complex here concluded ... More

EVENTS

Company Secretaries' convention begins today
THE Institute of Company Secretaries of India (ICSI) has been trying to globalise the profession through various activities, such as urging the Commerce Ministry to lobby at the WTO forum for the inclusion of a new head for corporate governance ... More

OUTLOOK

Biocon looks to Rs 650-cr SEZ for tax relief
BIOCON on Wednesday said that it is banking on its Rs 650-crore SEZ to give it some tax relief. A higher tax outgo during the recent July-September quarter was a factor that it blamed for its 29 per cent lower profit. The SEZ, which was ... More

PERFORMANCE

Toyota set to wipe out losses — Innova on a roll
WITH the Innova on a roll, Toyota-Kirloskar is set to wipe out its accumulated losses of around Rs 300 crore by December. Sources in the company told Business Line that Toyota also expects a 30 per cent rise in revenues in the ... More

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