Financial Daily from THE HINDU group of publications
Friday, October 18, 2002
Markets (Oct. 17)
BL 2501039.68 (-0.58)
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Yamaha's Libero launch follows Enticer success
YAMAHA Motor India on Thursday launched its new four-stroke bike, Libero, and said the company would achieve a 50 per cent growth in sales to three lakh units by the end of 2002 on the back of growing demand for its new models. Priced at Rs ... More

Aurobindo to enter regulated markets — Plans 12-15 products in US, Europe
THE Hyderbad-based Aurobindo Pharma Ltd plans to launch 12-15 products in the US and Europe during the last quarter of its fiscal year thereby making its initial step into the regulated pharma markets. According to Mr Srinivas Lanka, Director, ... More

Kochi Refineries pays Rs 1.54 crore
KOCHI: Kochi Refineries Ltd has paid a dividend of Rs 1.54 crore to the State Government for the financial year 2001-02. A cheque for the amount was handed over to the Chief Minister, Mr A.K. Antony, by Mr B.K. Menon, Managing Director, at ... More

BUYBACK


HDFC to mull share buyback — Seeks exemption from debt-equity ratio norm
HDFC Ltd has made an application to the Union Government for exemption from the regulation that only companies with a maximum debt-equity ratio of 2:1 can effect a buyback, said Mr Deepak Parekh, Chairman, HDFC, at a news conference here on ... More

NEW PROJECTS


S-E Asia, the hotspot for Club Mahindra
WITH an increasing number of Indians flying abroad to holiday, Mahindra Holidays & Resorts India, part of the Rs 4,500-crore Mahindra Group, has firmed up plans to set up Club Mahindra resorts in South-East Asia — a growing hotspot for ... More

ALLIANCES & JOINT VENTURES


ECE ties up with German co for customised lifts
ECE Industries Ltd, the electrical equipment and elevator manufacturing company, has tied up with ThyssenKrupp Elevator AG of Germany for the production of customised modern elevators. The joint venture company, ThyssenKrupp ECE Elevator Pvt ... More

Witness in partnership with FutureSoft India
WITNESS Systems, a US-based provider of software for contact centres, today entered into a partnership with FutureSoft India to cater to the growing call centre industry in the country. Under the alliance, FutureSoft would provide key services, ... More

SICK UNITS


Curtains down on Orissa Extrusions
In April 2001, the company requested the Bench to record its opinion for winding up the unit at the earliest as all possibilities for its revival had been explored and no workable proposal emerged. Consequently, the Board issued a winding-up notice i n June 2001. More

Sri Vishnu Cement `potentially sick'
SRI Vishnu Cement Ltd (SVCL), which was acquired by Zuari Cement Ltd (ZCL), has fallen under the category of "potentially sick industrial company", with the erosion of its net worth by over 50 per cent. The company has accumulated losses to the ... More

OUTLOOK


Ranbaxy's US arm poised for next level of growth — RLL third-quarter net up 79 pc
PHARMA major Ranbaxy Laboratories Ltd's (RLL) US subsidiary stands poised to be propelled into the next phase of the company's growth strategy — one of the key indications that emerged from RLL's third quarter results issued here on ... More

Cognizant adds 950 staff, ups revenue hope
THE Nasdaq-listed Cognizant Technology Solutions (CTS) has added 950 employees during the quarter ending September 2002. Most of the recruitment was for the company's Indian operation at Chennai, Kolkata, Pune and Bangalore, said a CTS ... More

PERFORMANCE


Overseas sales help Ranbaxy beat forecasts
A ROBUST performance in the US market helped Ranbaxy Laboratories better the stock market expectations about its financial performance in third quarter (July-September) of 2002. About four years after its first sales there, Ranbaxy's ... More

Morepen exports up 115 pc in H1
MOREPEN Laboratories Ltd has seen its generics exports grow by a robust 115 per cent in the first six months of this year, thanks largely to anti-histamine drug Loratadine, which goes off patent in the US in December this year. The company ... More


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