The Hindu Business Line : Tuesday, July 01, 2003

Ranbaxy gets USFDA nod AIDS drug
RANBAXY Laboratories Ltd (RLL) on Monday announced that it had received approval from the US regulatory authority for its generic version of Cytovene, an anti-viral drug from the Roche stable. Meanwhile, the company has also got six months' ... More

Bata shareholders pass 9 resolutions

PREFERENTIAL ALLOTMENTS

Ind-Swift Labs share allotment
THE Chandigarh-based Ind-Swift Laboratories Ltd has allotted 13,40,000 equity shares at a price of Rs 25 each on a cash basis to Shukdev Finvest Pvt Ltd (5,00,000 shares), Sri Ganesh Biotech Pvt Ltd. (4,40,000 shares), Multi Biz Ecom Pvt. Ltd ... More

OVERSEAS BORROWINGS

Reliance raises $100 m for crude imports through SBI syndication
RELIANCE Industries Ltd has raised $100 million for import of crude oil through a syndication led by State Bank of India which includes five SBI associate banks. This is the first time that SBI has completed such syndication for Reliance, a ... More

AWARDS & HONOURS

Tata Steel tops management games
TATA Steel, Bangalore, has won the National Management Games (NMG) for the third time in a row. Tata Engineering, Pune, was declared the first runner-up and Indian Oil Corporation, Bangalore, was adjudged the second runners-up in the All-India ... More

MANPOWER

Reliance offers VRS package for Patalganga staff
RELIANCE Industries Ltd on Monday said it has offered a voluntary retirement scheme for its workforce at Patalganga unit on the outskirts of Mumbai. The company informed the BSE that it has offered VRS to "permanent employees at Patalganga". ... More

MERGERS & ACQUISITIONS

Khemka family row delays Interbrew's Indian foray
Informed sources said Sun has deferred investment plans in India as a section of the Khemka clan has moved Kolkata High Court seeking a split in the family's assets. More

Wockhardt Life sells Merind assets to holding co
WOCKHARDT Life Sciences has sold off the assets of its subsidiary Merind Ltd to the holding company Khorakiwala Investments and Holdings Pvt Ltd for consideration of Rs 9.28 crore, according to the company's annual report. This results in a ... More

NEW PROJECTS

CPCL expansion to offer higher flexibility
THE Rs 2,360-crore, three million tonnes per annum expansion project of Chennai Petroleum Corporation Ltd, that is 92.5 per cent complete, is expected to give the company two significant advantages. First, the company would be able to process ... More

Indonesian NRI plans power plant in Bengal
THE Indonesian NRI, Mr P. Mukherjee, and his partner Mr K.K. Rahlan, today signed an MoU with the power utility in the State Dishergarh Power for setting up a small coal-based power project in West Bengal involving foreign direct investment of ... More

ALLIANCES & JOINT VENTURES

Power Grid Corpn ties up with Tata Power for transmission
``This project was the beginning of public-private participation in power transmission which should be a trend-setter for future investments,'' Mr R.P. Singh said. More

STANDARDS & BENCHMARKS

Divis Lab gets CoS from European body
DIVIS Laboratories Ltd (DIL), the Hyderabad-based pharmaceutical company, has informed stock exchanges on Monday, that it has received Certificate of Sustainability (CoS) from the Council of Europe, European Directorate for the Quality of ... More

USFDA approves Dr Reddy's bulk drug facilities
DR Reddy's Laboratories Ltd, the Hyderabad-based pharmaceutical major listed on the New York Stock Exchange (NYSE), has recorded yet another milestone in its operations with the United States Food & Drug Administration (USFDA) successfully ... More

OUTLOOK

Gulf Oil to consolidate synergies with IDL
FOLLOWING the merger of IDL Industries with itself last year that enabled it to evolve the `chemical hub of the group', Gulf Oil Corporation Ltd (GOCL), the Rs 450-crore Hyderabad-based lubricants and explosives major belonging to the Hinduja ... More

Eveready sets out targets for batteries, tea output, sales
EVEREADY Industries India Ltd, the flagship company of Mr B.M. Khaitan, has prepared an ambitious roadmap setting production and sales targets for its tea and battery businesses for 2005. According to Mr Deepak Khaitan, Vice-Chairman and ... More

Eicher Motors plans to focus on commercial vehicles
THE Rs 1,200-crore plus Eicher Motors Ltd (EML) is all set to aggressively increase its presence in the commercial vehicles business that is poised for significant growth over the next two years, by entering the market with a range of products ... More

PERFORMANCE

Juggling forex, running a PSU: Two sides of a CMD
TO most people he is just the `burra saheb' of a profit-making public sector company; to a select few others, he's known as a wizard in foreign exchange treasury operations. Not only have his skills in this area helped his company book a ... More

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