Cadila to venture into foreign regulated markets
Mumbai: The Rs 588-crore Cadila Healthcare Limited, the flagship company of the Rs 1,000-crore Ahmedabad-based Zydus Cadila group, is all set to enter the regulated pharmaceuticals markets in the UK, the US and South Africa.
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Dabur in talks to sell Dabon stake
Mumbai: Dabur India will soon divest its 50 per cent stake in Dabon International, its 50:50 joint venture with Bongrain of France. "We are looking at divestment options in Dabon," Mr Sunil Duggal, CEO-designate, Dabur India said.
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Bausch & Lomb unveils Zyoptix
Mumbai: Bausch & Lomb International (India) Ltd has announced the launch of its new surgical technique, Zyoptix. The company formally launched Zyoptix in India on Friday, a year after it was introduced in the North American markets.
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HLL rules out Metro Dairys claim
Kolkata: The citys ice-cream lovers got some summer training in the market-share jargon, with multinational Hindustan Lever Ltd seeking to melt upstart Metro Dairys claims of having emerged as the number one here.
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SRF net down 22% to Rs 27.3 crore
Mumbai: SRF Ltd has posted a 22-per cent decrease in net profit at Rs 27.28 crore on a lower turnover of Rs 617.54 crore for the year ended 31 March 2002.
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SAB close to buying stake in Shaw Wallace
Mumbai: The $4.2-billion South African Breweries Plc has moved a step closer to buying a stake in the Jumbo group-controlled Shaw Wallace & Co Ltds beer business. The top officials of SAB India Ltd met with Jumbo Group management in Dubai earlier this month.
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Govt willing to let SCI stake fall below 26%
New Delhi: The union government is willing to let its shareholding in Shipping Corporation of India (SCI) fall below 26 per cent after the proposed strategic sale by agreeing to offload requisite number of shares from its residual holding.
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L&T net profit down 25% in Q4
Mumbai: Larsen & Toubro Ltd (L&T) has reported a 10.07-per cent rise in net profit to Rs 346.8 crore for the year ended 31 March 2002 as against Rs 315.06 crore in the corresponding period last year.
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Jay Shree Tea not to restart SSP production
Mumbai: Jay Shree Tea and Industries Ltd, a BK Birla group company, will not start production of single super phosphate (SSP) at its fertiliser plant located in Pataudi near Gurgaon in Haryana, in an effort to reduce its losses.
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Ajanta in licensing talks with 7 foreign drug firms
Mumbai: Ajanta Pharma Ltd is in talks with seven overseas pharma companies to license its novel drug delivery system-based nimeluside called Nimeludine, says the companys chief financial officer Arvind Agrawal.
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Madras HC dismisses writ by MRF union
Chennai: The Madras High Court has held that the labour court was the appropriate forum for taking up cases of dismissal of workers and it was not possible for the writ court (High Court) to go into such cases.
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Aventis Crop, Bayer merger likely by yearend
Mumbai: Merger of the Indian operations of Aventis CropScience into Bayer India could take place by the end of this year, says Sagar Kaushik, Country Head, Aventis CropScience (India).
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B-MRP to function independently
Mumbai: Roger Pereira Communications is buying over 49 per cent of the stake now held by Burson-Marsteller, in the joint venture B-MRP Communications, a high-end public relations company with expertise in reputation and perception management.
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Birla Corpn units productivity-linked wage pact
Kolkata: Birla Corporation Ltd of the MP Birla group has become the first company in the jute sector to implement the productivity-linked wages agreement at its Soorah Jute Mill.
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Mahaveer Mirror, Singapore firm join hands
Chennai: Mahaveer Mirror Industries Pvt Ltd has entered into a joint venture with AGP Pte Ltd, Singapore, architectural glass products manufacturer, for setting up a manufacturing facility for glass fabrication in Tamil Nadu.
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VC investment in US biotech companies rise
Mumbai: VC investment trends during the first quarter of 2002 in the US reveals that while software attracted the highest investment at $1,059 million, biotech companies received the third highest funding at $ 752 million, which was 12.1% of the total $6.2 billion disbursement from VCs during the quarter.
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Autos to speed ahead, ancillaries excel
Mumbai: The auto ancillary industry has outperformed the industrial sector as a whole in fiscal 2001-02. A study of 46 ancillary companies that have announced their results shows an overall rise in net profits by 30 per cent as compared to the 2.4 per cent growth for 1,843 companies that have declared their results so far.
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IFCI should focus on mid-size corps: McKinsey
Mumbai: International consulting firm McKinsey has made a presentation to IFCI on the financial institution's rejuvenation. The recommendation is broadly in line with the Basu Committee recommendations submitted to the institution earlier.
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FoodWorld comes to Kerala, 5 stores planned
Thiruvananthapuram: After passing through Tamil Nadu, Karnataka, Andhra Pradesh and Pune, the FoodWorld retail juggernaut has now entered Kerala. It intends to open two to five stores this financial year in the state, before embarking on a full-scale expansion next year.
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Daewoo Indias likely buyers vary of asset viability
Mumbai: Even as domestic financial institutions intensify their hunt for a buyer for the assets of Daewoo Motors India, the local arm of South Koreas bankrupt carmaker, most potential buyers seem to be sceptical of the financial viability of such a buyout.
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