ICI India calls AGM on directors' pay
New Delhi: ICI India Ltd is to seek shareholders' nod at the company's forthcoming annual general meeting for payment of remuneration to the managing/wholetime directors for 2000-01, in excess of the limits prescribed under the Companies Act.
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Novartis sues Dr Reddy's in US for patent breach
Hyderabad: Novartis Corporation, the global pharmaceutical giant, has filed a lawsuit against Dr Reddy's Laboratories Ltd, the Hyderabad-based pharma company listed on the New York Stock Exchange (NYSE), alleging patent infringement by the latter.
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Pawar meets Rahul Bajaj
Mumbai: The former Maharashtra Chief Minister, Mr Sharad Pawar, had a breakfast meeting at the residence of Bajaj Auto Chairman, Mr Rahul Bajaj, on Friday. Mr Pawar refused to comment to newspersons after he came out of the meeting.
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Case against sell-off move Jessop is in core sector, says employees' union
Kolkata: In renewed arguments over the disinvestment issue of Jessop & Co Ltd (JCL), which began at the Calcutta High Court on Wednesday before Mr Justice Kalyan Jyoti Sengupta, the counsel of Jessop & Co Ltd Staff Association (Association) stated that the company fell under the core sector category.
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Wipro Q1 net drops to Rs 220 cr Buys majority stake in Spectramind for Rs 406.9 cr
Bangalore: Wipro Ltd, which announced its first quarter results yesterday reported higher revenues for the quarter but lower PAT year-on-year. Revenues from operations were up by 19 per cent to Rs 930 crore year-on-year (excluding revenues of Rs 3.8 crore from the discontinued ISP business).
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Visesh lines up pref issue for acquisition
Bangalore: Visesh Infosystems Ltd, the Bangalore-based software solutions provider, proposes to make a preferential allotment of 37.5 lakh equity shares to stakeholders of the Delhi-based Infotecnics India Ltd to part fund its acquisition plans.
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Power disruption no damper Tata Steel to stick to Q2 production target
Kolkata: Tata Iron and Steel Company Ltd which lost a bit of its production owing to a power disruption between July 12 and 14, said that it was not revising its second quarter target.
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Pepsi reports buoyant growth
New Delhi: Pepsi India has reported a "record" growth in the carbonated soft drink (CSD) market in the second quarter of the year ended June 30, 2002. According to a company spokesperson, Pepsi has reported a 26 per cent volume growth in the carbonated soft drink segment, compared to the same period last year.
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PSEG to quit India Quotes non-payment of bills, lack of sanctity of contracts
Chennai: The US power utility Public Service Enterprise Group has decided to quit the power business in India. The company has stakes in two private power projects in the country, both of which commenced operation in 2001.
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Bharti dials international Tariff war hots up
BhartiI Telesonic Ltd, the long-distance telephony arm of the Bharti group, has announced the commercial launch of its international long-distance ) services under its brand name `IndiaOne.' This makes it the first private operator to start such services.
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VSNL cuts rates up to 40 pc
Mumbai: Videsh Sanchar Nigam Ltd has announced cuts of up to 40 per cent in its international long distance (ILD) tariffs. The company's tariff rates for outgoing traffic to countries in the US have been sizeably reduced by over 40 per cent.
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Growth of pink slips in software firms slows
Mumbai: Around 35 per cent employees of Indian IT companies sat on the bench in fiscal 2002, according to Nasscom data. However, Nasscom officials said the number of employees on bench has fallen to 30 per cent in the first quarter of fiscal 2003.
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VSNL may lose part of WorldCom dues
Mumbai: Videsh Sanchar Nigams worst nightmare is about to come true. With WorldCom slated to file for Chapter 11 protection on Monday, VSNL is set to lose a substantial part of its outstanding dues of more than Rs 500 crore.
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Now, call the US at Rs 24 per minute
New Delhi: ILD tariffs have been reduced by 40 per cent. A one-minute call to the US, Europe and Gulf countries will now cost Rs 24. BSNL and MTNL on Friday announced the new tariff structure following ILD rate cut by VSNL and Bharti.
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UTI may fight TV Tipu in court
Mumbai: UTI is considering legal action against Sanjay Khan's entertainment software company, Numero Uno, as the company hasn't bought back UTI's stake in the company, despite reminders from the financial institution.
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Hindalco to take over Indo-Gulf's copper biz
The Aditya Birla Group is set to separate the copper business of Indo Gulf Corporation and merge it with Hindalco Industries. The move will create India's largest non-ferrous metals producer with a turnover topping Rs 6,000 crore.
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BPL Communications' US investor goes to court
The Washington-based fund, Emerging Market Partnership, an investor in BPL Communications, has initiated arbitration proceedings against the company.
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FIs ready for showdown with Modern Syntex
Financial institutions are ready for a final showdown with the Rankas-promoted Modern Syntex.
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DRL files ANDA for terbinafine HCl tablets
Hyderabad: Dr Reddys has filed Abbreviated New Drug Application for Terbinafine HCl Tablets with the US Food and Drug Administration for Terbinafine HCl tablets, equivalent to 250 milligram base with a Paragraph IV certification on the 4,755,534 patent, according to a press release issued here on Friday.
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Crocodile to shed 26% in marketing arm
Mumbai: Menswear brand Crocodile is planning to offload 26 per cent in its marketing subsidiary - Crocodile E-Tech - to a private equity fund for Rs 12 crore.
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Virgin may get nod for third flight
New Delhi: The government is likely to consider giving a third flight to Virgin Atlantic Airways which has served a notice to terminate its code-share agreement with Air-India.
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Wipro IT business moves northward as prices stabilise
Bangalore: Taking off on an optimistic note, Wipro Ltd has said that initial signs from its IT business indicate a gradual business pickup with early signs of stabilisation in pricing.
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Panjon promoters hike stake to 60 per cent
Indore: The promoters of Indore-based Panjon Ltd are hiking their stake in the company by 400 basis points to 60 per cent, following the preferential offer of 70.01 lakh shares to the promoters.
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Nicholas Piramal Q1 net up 71% to Rs 31.15 crore
Mumbai: Nicholas Piramal India Ltd has posted a 71.05 per cent increase in net profit at Rs 31.15 crore for the first quarter ended June 2002 as compared to Rs 18.21 crore for the corresponding quarter last year.
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NTPC Simhadri plant to be synchronised before August
The second unit of 500 mw of Simhadri power plant of the National Thermal Power Corporation is expected to be synchronised much ahead of schedule in August, 2002.
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NIIT bags Rs 155-crore training order from Andhra Pradesh
Mumbai: IT training major NIIT Limited has bagged a Rs 155- crore training order from the Andhra Pradesh government for setting up modern computer classrooms, training students apart from providing latest computers.
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