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Sanofi keen to buy firms to grow
Mumbai: The wholly-owned Indian subsidiary of the French drugmaker
Sanofi-Synthelabo is planning acquisitions, new product launches and
marketing partnerships with leading Indian companies.
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Sanofi-Synthelabo eyes 20% growth in topline
Mumbai: Sanofi--Synthelabo (India) Ltd expects to witness 18-20 per cent
growth in topline for the financial year 2002-03. Speaking to newspersons
here on the occasion of the parent company Sanofi-Synthelabo group listing
on the New York Stock Exchange.
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Nirma plans foray into hair oil
Ahmedabad: Nirma, which has plans of getting into hair oil, talcum powder
and shampoo business, is however yet to decide whether its entry would be on
its own or through an acquisition.
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LG gets IIT-Delhis stamp on fridge capacity
New Delhi: The MRTPC case over LG overstating the capacity for its
frost-free refrigerators as alleged by Whirlpool and Godrej has taken a
predictable turn with LG getting its products checked by another testing
authority, IIT-Delhi, which reports that the products tested confirmed to
the declared specifications.
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Crisil downgrades Videocon rating
Mumbai: Crisil has downgraded the adequate safety rating assigned to
Videocon International worth Rs 30.96 crore to sub-investment grade category
at BB (inadequate safety).
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BSNL falls far short of target
New Delhi: Bharat Sanchar Nigam has fallen short of meeting its targets for
adding additional telephone lines by 53 per cent for April-May 2002, while
the private sector added 70,000 lines against targeted 20,000 lines, showing
a jump of 250 per cent.
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UTI may sell BSES stake to fund redemptions
Mumbai: UTI may sell its 9.37-per cent stake in BSES to meet redemption
pressures in some of its key schemes.
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FIIs can hold 100% Infosys equity: RBI
Mumbai: The Reserve Bank of India has said foreign institutional investors
can now purchase up to 100 per cent of equity shares and convertible
debentures issued by Infosys Technologies, through the primary market and
stock exchanges.
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White paper pegs state aid to MSEB at Rs 34,000 cr
Mumbai: A draft white paper on Maharashtras power sector reforms prepared
by IDFC has pointed out that the government support required for the
loss-making MSEB would range from Rs 34,000 crore to Rs 59,000 crore over
the next nine years "depending on the final outcome of restructuring the
power purchase from the distressed Dabhol project."
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Thirumalai Chem taps MNCs for investing in Malaysian JV
Chennai: Thirumalai Chemicals Ltd has initiated talks with multinational
companies for investing in its Malaysia-based TCL Industries Sdn Bhd, a
joint venture between Thirumalai Chemicals and Yayasan Terengganu and Promet
Bhd.
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GTN textiles begins Rs 40-crore technology upgradation
Mumbai: In a bid to remain a strong player in the medium, fine and super
fine segment of the global market, GTN Textiles Ltd has embarked upon a Rs
40-crore programme to upgrade its technology.
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SCCL to wipe out losses by March 2003
Hyderabad: Singareni Collieries Company Ltd, the oldest public sector coal
company in India, is all set to wipe out fully the accumulated losses by the
end of March 2003 and is expected to declare dividends for the financial
year 2002-03.The company is hopeful of posting a net profit of Rs 450 crore
this year.
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German pharma firm plans research in India on AIDS
Mumbai: The German pharmaceutical company, von Hoffmeister Pharma GmbH, is
planning to set up a joint venture company in India to carry out research in
the use of medicines derived from cannabis in AIDS therapy.
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Ranbaxy gets USFDA nod for Lisinopril
Mumbai: Ranbaxy Pharmaceuticals Inc has received a final approval from the
US Food and Drug Administration to manufacture and market Lisinopril+Hydrochlorothiazide tablets, indicated for the treatment of
hypertension.
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Hepatitis-B vaccine prices slashed
Mumbai: Serum Institute of India Ltd has slashed prices of its hepatitis-B
vaccine, Gene Vac-B, by about 40 per cent. The maximum retail price of 10 ml
vial is now Rs 875 as againt the earlier Rs 1,400.
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ICAI renames auditing practices panel
New Delhi: Faced with the challenge of preserving the integrity and
reputation of the auditing and assurance profession, the central council of
the Institute of Chartered Accountants of India (ICAI) on Wednesday effected
certain changes to strengthen the existing panel for auditing practices.
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Sasken converts Japanese arm into branch office
Bangalore: Sasken Communication Technologies Ltd, the Bangalore-based
telecom products and software-maker, has liquidated its wholly-owned
Japanese subsidiary, Silicon Automation Systems Kabushiki Kaisha. It has
converted its Japanese outfit into a branch office.
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Sesa Goa seeks to dispose of Sirsaim unit
Panaji: The Panaji-based Sesa Goa Ltd is seeking the approval of its
shareholders (through a postal ballot) for disposing the precision
engineering unit located at Sirsaim in Goa.
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ACC to sell stake in International Ferrites in Rs 40-crore deal
Mumbai: Associated Cement Companies Ltd is selling its entire stake of
around 35 per cent in International Ferrites Ltd to a German company at Rs
26.56 per share, the consideration working out to Rs 40.42 crore.
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IOC denies imposing fresh riders on HPL
Mumbai: The IOC spokesman said although HPL was being pursued as a good
business initiative by IOC, the cash-strapped petrochemical company will be
a bigger loser than IOC at this turn of events.
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Foreign shipping lines ignore SCI call
Mumbai: Foreign shipping lines seem to be deserting the Shipping Corporation
of India, the national flag carrier, currently on the divestment block.
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Internet base drops 13% in Q1
Mumbai: It may be early to presume that growth has come to a standstill in
the retail Internet access market, but according to the latest industry
figures the domestic retail subscriber base has dipped 13 per cent to 3.3
million as on 30 June 2002.
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Boeing offers to cut price for IA deal
Mumbai: The US aircraft manufacturer Boeing has offered to lower the prices
of aircraft to be sold to Indian Airlines, which plans to induct 43 new
aircraft in the next five years.
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Ratan Tata for support to auto brands
Mumbai: Ratan N Tata, chairman, Tata Engineering, has said India's
automobile policy must support Indian brands even as it encourages foreign
direct investment into the sector.
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Tupperware accused of flouting approval norms
New Delhi: As if the WorldCom and Xerox scams were not enough, another
US-based company having operations in India, namely the $1-billion direct
selling company dealing in plastic storage containers Tupperware
Corporation is facing charges of flouting approval norms.
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