CORPORATE
ANNOUNCEMENTS
Drug withdrawal may impact generic cos
DRUG major Ranbaxy Laboratories Ltd has informed the World Health Organisation (WHO) that it was voluntarily withdrawing all its anti-AIDS drugs from the UN agency's pre-qualification list. The announcement breaking in the country late on ...
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More products in offing: Biocon
BIOCON says it has more products to go, in particular in the insulin delivery range. Next would be insulin devices that would be for markets not amenable to vials, as also non-invasive or painless insulin delivery systems, according to Ms ...
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Panacea launches osteoarthritis drug
PANACEA Biotec has launched Willgo (Nimesulide 200-mg long acting tablet), an advanced drug delivery system for 24-hour management of pain, inflammation and fever in osteoarthritis and post-surgical ...
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Biocon launches bio insulin
BIOCON Ltd on Wednesday launched Insugen, becoming the fourth player in the country in branded human recombinant insulin. Offered at an introductory Rs 126 per 10-ml vial, Insugen is easily the lowest priced human insulin currently available ...
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Lakshadweep gets 9th solar plant from BHEL
BHEL's Electronics Division here has commissioned its ninth solar power plant (SPP) in Lakshadweep. The environment-friendly plant forms part of what is set to be the largest solar power plant in Asia Pacific. The grid-interactive 100-kilowatt ...
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Schoeller Tech plant starts operations
MUMBAI: Schoeller Technologies, a subsidiary of Swiss company Schoeller Textil AG, has set up a unit in Navi Mumbai. It has commenced production at 40 per cent of the plant's capacity utilisation. The unit was set up at a cost of Rs 5 ...
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MANAGEMENT
`In advertising, get simple, get real'
FIVE mantras can help communicators be effective and develop communication that works, said Mr Suresh Kumar, Director, Mindspark Consulting, while addressing first year management students of the Department of Management Studies, St. Joseph's ...
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RESTRUCTURING
BPL lenders to move Kerala HC to push through recast package
MEMBERS of the corporate debt restructuring (CDR) forum of banks and financial institutions on Tuesday gave final approval to a recast package of Bangalore-based consumer durable maker BPL Ltd and decided to move court to bring around unrelenting ...
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MERGERS & ACQUISITIONS
UB Group looking to bid for SWC liquor biz; Jumbo unmoved
THE UB Group has said that it is likely to bid for Shaw Wallace & Co's (SWC) liquor business, which is on sale. The UB group, which had earlier quashed talks about bidding, disclosed that its Chairman, Mr Vijay Mallya, had written to the Jumbo .
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Bunge to merge trading, manufacturing arms
THE Bunge Group plans to restructure its Indian operations by merging the manufacturing and trading arms into a single entity. The group is present in India through two separate companies - Geepee Ceval Proteins and Investments Pvt Ltd ...
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Jubilant to sell 10.4% stake to Citigroup, Henderson — To fund acquisition in the US
JUBILANT Organosys Ltd is selling a part of the company's equity through private placement to the Citigroup and the Henderson group for Rs 225 crore to fund its planned acquisition in the US. Though Jubilant is yet to finalise its acquisition ...
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Rajasthan Spinning to buy 60% in Jaipur Polyspin
THE Rs 670-crore Rajasthan Spinning & Weaving Mills Ltd, an integrated player in the textiles sector, on Wednesday announced the acquisition of Jaipur Polyspin Ltd, a synthetic yarn producing company. Jaipur Polyspin belongs to the ...
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SEBI clears Jindal group co plan to pick SISCOL stake
THE Securities and Exchange Board of India (SEBI) has cleared the proposal by a Jindal group company to acquire Lakshmi Machine Works' 39.71 per cent stake in the ailing Southern Iron and Steel Company Ltd (SISCOL). The SEBI has, however, said ...
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NEW PROJECTS
Phoenix Mecano sets up facility in Pune
HAVING completed a decade of operations in India, the Phoenix Mecano (India) Ltd, a Indo-Swiss joint venture, has set up its manufacturing plant at Pirangut industrial estate in Pune. The Switzerland-based Phoenix Mecano AG has 96 per cent in ...
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Excise exemption for new units in Kutch extended by one year
THE Centre has extended by yet another year the validity of excise duty exemption for the manufacture of specified goods by new units in Kutch district of Gujarat. According to an official statement, the time limit for setting up new units and ...
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DIVERSIFICATION
ITC seeks shareholder nod for change in objects clause of MoA
ITC Ltd is seeking approval of its shareholders for alteration of the objects clause of the company's memorandum of association. This is being sought to be done through a postal ballot, as prescribed under Company Law provisions. The company ...
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RIGHTS ISSUE
Gati board clears 1:2 rights offer
GATI Ltd has informed the stock exchanges that its board of directors at a meeting held last Saturday decided to issue 41,78,250 equity shares of Rs 10 each to the existing shareholders of the company. It will be on a rights basis in a price band ...
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OUTLOOK
Tata Steel targets 15 mt output by 2015
REMEMBER the slogan, `Think of colour, think of us - Jenson and Nicholson'? Now, the same slogan with a small change. `See any car plying on the road and think of us - Tata Steel' is how Dr Amit Chatterjee, Advisor to the Managing Director, Tata ...
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DVC to relook at hydel projects in Bengal, Jharkhand — Appoints CWC to study potential
AFTER nearly half a century, Damodar Valley Corporation (DVC) is taking a relook at the hydel power generation potential in its designated catchment area, spreading over West Bengal and Jharkhand. The corporation recently appointed the Central ...
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ECONOMIC OFFENCES
Software company promoters held for duping depositors in Vizag
A SOFTWARE firm here, Log Sanchar, is accused of collecting deposits of Rs 3.5 crore from depositors/data entry operators in different districts claiming that it had secured a library automation contract from a UK-based firm. The irate ...
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