The Hindu Business Line : Tuesday, August 27, 2002

SAIL research unit working on Rs 500-cr cost-saving plan
THE Research and Development Centre for Iron and Steel (RDCIS), the corporate research wing of Steel Authority of India Ltd (SAIL), is planning to provide a `benefit' of at least Rs 500 crore to the various SAIL units within the next two to three ... More

ANNOUNCEMENTS

Anil Ambani inducted into IPCL board
MR Anil Ambani, Vice-Chairman and Managing Director, Reliance Industries Ltd, has joined the board of Indian Petrochemicals Corporation Ltd. Mr Ambani replaces Mr K.G. Ramanathan with effect from August 20. Mr Ramanathan, erstwhile Chairman and ... More

Ranbaxy gets US approval to market drug
RANBAXY Pharmaceuticals Inc (RPI), a wholly-owned subsidiary of Ranbaxy Laboratories Ltd (RLL), today announced that the company has received final approval from the US Food and Drug Administration to manufacture and market Terazosin ... More

RailTel optical fibre cable work apace
RAILTEL Corporation of India Ltd (RCIL), formed two years ago to create a nation-wide broadband telecom and multimedia network, has been making rapid strides in laying optical fibre cables (OFC) with a monthly target of 800-route km (RKM). Mr ... More

India Tyre to sell products under Dunlop name
IN a bid to keep alive the brand image of Dunlop India Ltd's (DIL) industrial rubber products, India Tyre Ltd (ITL) has been assigned the job of outsourcing such products and marketing them throughout the country. ITL has also been advised by ... More

GFCL plans to raise output
GODAVARI Fertilisers and Chemicals Ltd (GFCL) has plans to produce 8.6 lakh tonnes of fertilisers in the current year as against 7.03 lakh tonnes produced in 2001-02. It proposes to sell 9.5 lakh tonnes as against 9.46 lakh tonnes sold last year, ... More

Honda tags Dio at Rs 37,814
HONDA Motorcycle and Scooter India Pvt Ltd (HMSI), the wholly-owned subsidiary of two-wheeler giant, Honda Motor Company, has priced its second model for India, `Dio' at Rs 37,814 (on road, Delhi). Dio, touted as the first `motorscooter' in ... More

Sterlite cancels 2 crore equity shares purchased

BHEL completes Simhadri project

Lexxus arrives

ESOPS

Dr Reddy's grants stock options
HYDERABAD: Dr Reddy's Laboratories Ltd has granted 1,813 stock options to one of its employees at a meeting of the compensation committee of the board held on Monday. In a release to the stock exchanges, the company said these options ... More

MANPOWER

Good response to Tata Tea VRS
Industry sources said that the company is hoping to reduce its office staff by about 10 per cent. More

MERGERS & ACQUISITIONS

Hallmark Inc to acquire stake in Vintage Cards
THE greeting cards industry is expected to get a boost, with Hallmark Cards Inc of the US finally deciding to pick up an equity stake through the preferential route in the Pune-based Vintage Cards & Creations Ltd. With this, the Rs 150-crore ... More

Singapore partner to hike stake in SDB-Cisco
THE Chennai-based security agency SDB-Cisco (India) Ltd (SDB-Cisco), is all set to become the first Indian security agency with a controlling foreign equity holding. The company has sought permission from the Foreign Investment Promotion Board ... More

NEW PROJECTS

Toyota Kirloskar to invest $80 m in gearbox unit
TOYOTA Kirloskar's new gearbox plant will produce 1,68,000 gearboxes per year for exports. The total investment will comprise $80 million in two plants out of which $50 million will be invested in machine tools and out of this, 40-45 per cent ... More

ALLIANCES & JOINT VENTURES

Mallya to head UB-S&N venture
UB Beer Ltd and Scottish & Newcastle Plc (S&N) are finalising a five-member board for their joint venture after signing a definitive agreement. UB and S&N will have two directors each, while Mr Ravi Jain, a strategic ally of the UB group, will ... More

Kanoi Castillo plans chain of restaurants
THE Rs 55-crore turnover Kanoi Group, which has interests in tea, ferro alloys, chemicals and IT services, has formed a joint venture with the $9-million turnover Castillo's LLC of the US. Christened Kanoi Castillo Corporation, the 49:51 joint ... More

SICK UNITS

SBL hopes to seal recast package soon
SBL Industries Ltd, which was earlier known as Shriram Bearings Ltd, is in the last stages of finalising its revival package and is likely to reopen its plant by the end of November. The company is contemplating reducing the strength of its ... More

OUTLOOK

Hyundai gets into top gear, to invest $300 m — Eyes $1.2-b turnover by 2005
HYUNDAI Motor Company has laid out major plans for its India operations over the next few years. "India is a very important market for Hyundai and we are looking to expand our Indian operations significantly. We will be investing about $300 ... More

Tata Infomedia looks at 25-30% from film foray
TATA Infomedia Ltd, which recently announced its foray into film production, expects this arena of business to contribute 25-30 per cent to the topline in three years, Mr. Hoshang S. Billimoria, Vice-Chairman and Managing Director of the company, ... More

PERFORMANCE

Dr Reddy's in healthy frame — To tap US market with branded formulations
NOTWITHSTANDING the setback suffered on account of suspension of clinical trials by Novo Nordisk on the dual acting diabetic molecule - DRF 2725 - also known as Ragaglitazar, Dr Reddy's Laboratories Ltd is bullish on its drug discovery ... More

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Dr Reddy's in healthy frame — To tap US market with branded formulations

Govt to go slow in opening up farm commodity trade

MPs seek review of fresh investment plans of KIOCL

Licence fee, courseware cost hike — NIIT franchisees `on the verge of closure'

Insurance industry in crisis: IRDA chief

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Aug. 18-Aug. 24
`Significant distortion' led to Wipro revision