The Hindu Business Line : Tuesday, December 17, 2002

Ranbaxy to gain royalty from Bayer for Cipro
EVEN as German pharma major Bayer AG receives the green signal from the US regulatory authority for its antibiotic Cipro XR (500 mg), home-grown drug company Ranbaxy has announced that it would receive royalty on sales of the drug. Ranbaxy ... More

CORPORATE DISPUTES

Polaris chief held in Jakarta — Business trip goes sour
THE city-based Polaris Software Laboratories Ltd today said that its Chairman and Managing Director and CEO, Mr Arun Jain, had been held against his will by the police in Jakarta, Indonesia. In a statement, the company said that Mr Jain had ... More

SC judgment on limited mobility today
THE long wait will finally be over. The Supreme Court on Tuesday is expected to deliver its final judgment on a petition filed by the Cellular Operators Association of India (COAI), challenging the decision of the Telecom Dispute Settlement ... More

AWARDS & HONOURS

Jindal Steel bags energy award

MERGERS & ACQUISITIONS

Bangur group cos may take stake in sugar unit
THE sugar venture of the city-based S.K. Bangur group, Bharat Sugar Mills Ltd, may not remain a subsidiary of the group's flagship - West Coast Paper Mills Ltd - for long as other companies of the group are likely to take an equity stake in ... More

Orchid acquires Mano Pharma
ORCHID Chemicals and Pharmaceuticals Ltd announced the decision to acquire the Chennai-based formulations company, Mano Pharmaceuticals, and its sister company, Sali Healthcare, on a cash deal of Rs 26 crore. According to an Orchid press ... More

NEW PROJECTS

TI Cycles to set up plant at Noida
IN a bid to tap markets located in the eastern part of the country, TI Cycles of India, a unit of Tube Investments of the Murugappa group, plans to set up a plant in Noida. According to Mr Adiraj Sarin, Managing Director, TI Cycles, "the ... More

Pivotal opens centre in India

ALLIANCES & JOINT VENTURES

BHEL plans tie-up with IT major
BHEL, which has put service exports high on its new business priorities, is working on plans to provide remote services through a joint venture with a domestic IT major. Mr K.G. Ramachandran, CMD, told a news conference today that BHEL, which ... More

Balaji Tele MoU with Indonesian co for serial rights
BALAJI Telefilms has entered into a MoU for assignment of rights of its library of Hindi serials with an Indonesian company, PT Menara Media Sakti, for Rs 1.5 crore ($300,000). The company has informed BSE that the assignment of rights will be ... More

INTERVIEW

`India has the potential of becoming a developed nation'
LORD Swraj Paul has consistently articulated his firm and unflagging faith in India's potential. As Co-Chairman of the Indo-UK Roundtable and the Ambassador for British Business , he has passionately encouraged British companies to use the huge ... More

EVENTS

Taj joins consortium bidding for AAI land
THE Taj Group of Hotels, part of Indian Hotels Company Ltd, is to be part of a consortium of five-star hotels in Mumbai to set up a convention centre near the international airport in Mumbai, according to Mr R.K. Krishna Kumar, Managing Director ... More

RIGHTS ISSUES

Tata Coffee to pick up Barista shares
TATA Coffee Ltd has informed the Bombay Stock Exchange that its board today decided to subscribe to 4,56,140 equity shares of Rs 10 each at a premium of Rs 50 per share offered by way of the rights issue by Barista Coffee Company Ltd. Tata ... More

OUTLOOK

Reliance pegs subscription base at 6 m in first year — LG, Samsung hope to liven up CDMA market
EVEN as the tariff plan for limited mobility services submitted by Reliance Communications Ltd is being "studied" by the Telecom Regulatory Authority of India (TRAI), the company has pegged its subscriber base during the first year of operations ... More

PERFORMANCE

Cochin Intl Airport may post Rs 2-cr profit
THE Cochin International airport at nearby Nedumbassery, the first ever private sector airport in the country, is likely to post a profit of over Rs 2 crore during the current fiscal. Improvement in revenue coupled with cost-effective ... More

NEW PRODUCTS & SERVICES

Tata debuts in sedan segment with Indigo — Formal launch tomorrow
THREE and a half years after it put the first `completely made in India' car, the Indica, on the roads, Tata Engineering on Monday unveiled its second offering and debut in the sedan segment, the Indigo, effectively positioning itself as a car ... More

Volvo launches new tipper truck
SWEDISH group Volvo has launched its new FM9 tipper truck in India. The new truck will be aimed at the construction industry, fuelled by speedy highways projects commissioned across the country. India is implementing a major 10-year programme ... More

Wipro's Light Show
The Chief Executive of Wipro Lighting — C&I Business, Mr Rajesh Kochhar, at a display of energy-saving lighting products manufactured by the company at the "Light Show" in Chennai on Monday. The products showcased included electronic ... More