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Ranbaxy
ADR plans on, considers Brazil production unit
Mumbai: The pharma major Ranbaxy Laboratories Ltd has not
put to sleep its plans for an American Depository Receipts issue.
As a first step towards the ADR issue, the company expects to be
US-GAAP compliant by the end of this year.
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Oyzterbay
chief designer bags award
Hyderabad: Branded
jeweller Oyzterbays chief designer S Sreenivas Reddy was
presented with the prestigious Gold Virtuosi 2002 award for his Pebbles
and Shells, an enchanting ensemble of three neck chains, a
waistband and a bracelet.
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Dr
Reddys ahead in race to procure US patents
Hyderabad: Dr Reddys Laboratories leads a select few
Indian corporates involved in obtaining international patents,
especially from the US. With a total of 24 US patents to its
credit, Dr Reddys is ahead of Ranbaxy Laboratories (20) and a
host of others.
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Schwing
sets up first ready-mix concrete plant
Mumbai: Schwing Stetter India Pvt Ltd, a 100-per cent
subsidiary of the Germany-based Schwing group of companies, has
set up the first ready-mix concrete company in India. The RMC
company has been set up for Hi-lite Constructions in Kozhikode.
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Global
majors showcase SPV potential at German facility
Mumbai: The $7-million solar rooftop plant is mounted
on the six northern halls of the trade fair centre (which
interestingly is the remodelled old Munich international airport)
and meets 4 per cent of its entire power needs round the year,
according to Dr Wolfgang Rehm of the E.ON Energie.
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Logix
sees 40% growth from Izmocars
Bangalore: Logix Microsystems Ltd, the Bangalore-based
software services company, expects its recently launched product
range Izmocars to fuel a 40-per cent growth in its overall
topline for the current financial year.
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Vederah
is new BILT Deputy MD
New Delhi: The board of directors of Ballarpur Industries
has designated R R Vederah, whole-time director of the company, as
the deputy managing director with immediate effect. This was
decided at a board meeting held on 14 June 2002.
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Tata
Tea to focus on brand synergies
Mumbai: Tata
Tea Ltd is reaching out, past all regional and cultural barriers,
to the tea-loving interiors of India. The company is slowly but
steadily making its presence felt among the rural and semi-urban
population of the country.
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Thomas
Cook (I) plans foray into Maldives, Bangladesh
Mumbai: Thomas
Cook (India) Ltd has chalked out a plan to expand its network in
the neighbouring countries by making forays into Maldives and
Bangladesh. The company already has a presence in Mauritius and
Sri Lanka.
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11
divested ITDC hotels show Rs 23-cr deficit in gratuity
New Delhi: The
disinvestment ministry has detected a shortfall of Rs 23 crore in
the gratuity funds of the 11 hotels of India Tourism Development
Corporation that have been privatised.
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Mico
plans to turn global development centre
Mumbai: Motor
Industries Co Ltd plans to become a global development centre for
electronic diesel injection system for its parent company, the $30
billion Robert Bosch Group of Germany.
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Yearly
net profit of 581 major firms rises 10.8%
Mumbai: The
yearly net profit of 581 major companies, which declared their
results so far, rose by 10.8 per cent to Rs 40,421 crore during
2001-02 from Rs 36,485 crore during the corresponding period of
the previous year.
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Tighter
shareholder pact sought
Mumbai: Following the row over the Tatas decision to
invest VSNL money in Tata Tele, investment bankers feel that the
shareholders agreement should provide for affirmative voting by
the government for investments into group companies.
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Fabiani
raises $20-m second India fund
Mumbai: The
Madrid-based Harish Fabianis Transatlantic Corporation is
raising a second India-focused venture capital fund, which will
have a $20-million corpus.
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India
Inc raises $10 billion via GDRs, ADRs
Mumbai: Popular perception has it that Indian companies
have been less successful in tapping international investors
through the overseas route when compared with attracting foreign
institutional investors through the portfolio route. Yet, data
since liberalisation tells another story.
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IDBI
corporatisation to be delayed
Mumbai: IDBIs corporatisation plans have hit a minor
speed hump with the government now keen on moving ahead with the
repeal of IDBI Act only in monsoon session of Parliament. Earlier,
the government was weighing options of coming out with an
ordinance to expedite corporatisation of the financial
institution.
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For
Rs 23 lakh, IA will teach you to fly
Mumbai: Indian Airlines (IA) has decided to squeeze every
ounce of benefit from its vast infrastructure. It has thrown open
its pilot training academy in Hyderabad to outsiders wanting to
learn the art of flying an Airbus 320 aircraft.
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RIL
to float largest global bonds buyback offer
Mumbai: Reliance Industries plans to launch one of Indias
largest international bonds buyback offer to extinguish a $400
million debt.
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Ramee
in talks to buy three Guestline hotels
Mumbai: The West Asia-based Ramee group of hotels is in an
advanced stage of negotiations with Mahindra and Mahindra and
Accor to buy three hotels under the Guestline Mercure brand name.
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ONGC
threatens BG of termination
New Delhi: Oil and Natural Gas Corporation has given an
ultimatum to British Gas India to either solve the vexed issue of
operatorship of Tapti Panna and Mukta oilfields by month end or
face a termination notice.
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Oil
companies put pipeline projects on the backburner
Mumbai: Slowdown in oil and gas industry is impacting the
petroleum infrastructure sector as well. After putting several
refinery and expansion projects on the backburner, oil companies
are dropping pipeline projects as well.
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HPCL
to enter Indonesia, Malaysia
New Delhi: Even as multinational oil companies prepare to
invade the Indian market, Indian oil companies are seeking greener
pastures abroad. After Indian Oil Corporation which unveiled plans
to enter the Sri Lankan retail oil products market, HPCL plans to
foray into Indonesia and Malaysia.
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