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Ranbaxy
sees 3rd milestone payment from Bayer for Cipro
Mumbai: Ranbaxy is set to get the third milestone
payment from Bayer AG for its new NDDS drug Ciprofloxacin.
This follows Bayer filing early this week a new drug application
(NDA) with the US Food and Drug Application (FDA) for
marketing of Cipro OD (Cipro(R) XR).
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Dr
Lal PathLabs buys Delhi-based Raptakos Brett
New Delhi: Delhi-based Dr Lal PathLabs (LPL), the
premier clinical testing labs network in the country,
has acquired Mumbai-based Raptakos Brett Diagnostic Laboratories
(RBDL) for an unspecified amount.
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Lehman
shortlists TCS, Infy, Wipro
Mumbai: Investment banking firm Lehman Brothers
has decided to outsource IT services from Tata Consultancy
Services and Infosys and has shortlisted Wipro for outsourcing
IT infrastructure and business process outsourcing services.
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Zensar
teams up with HK firm to enter China
Mumbai: Zensar Technologies, the joint venture
company held by RPG enterprises, India and Japan's Fujitsu,
has inked a 50:50 joint venture with Hong Kong's Asia
Logistics Technologies to establish presence in China's
software market.
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Dainippon
Ink to raise local arm holding by 10%
Mumbai: Dainippon Ink & Chemical (DIC) Asia
Pacific Pte, has decided to increase its stake in its
Indian subsidiary -- Coates of India -- via the creeping
acquisition route of maximum 5 per cent equity a year.
The aim is to increase the DIC stake in Coates of India
to 69.42 per cent from 59.42 per cent at present.
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Cadila
in JV talks with Far East firms
Mumbai: Cadila Pharmaceuticals is in talks with
three Far East pharma companies for a tie-up to manufacture
auto-disable syringes, which are fast replacing the traditional
syringes for their greater safety advantage.
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Tata
Steel inks JV for port, logistics
Mumbai: Tata Steel, in its pursuit to outsource
strategic services, has recently formed a new joint venture
company called Tata Martrade International Logistics for
port and logistics services.
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BPCL
moves Mumbai HC with Nocil winding-up plea
Mumbai: Bharat Petroleum Corporation has submitted
a petition in the Bombay High Court for winding up of
National Organic Chemical Industries for non-payment of
dues against supply of naphtha.
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Hero
Honda October sales rise by 25%
Mumbai: Hero Honda Motors, India's largest motorcycle
maker, has announced that its sales have increased by
25 per cent to 1,65,066 motorcycles during October 2002
from 1,32,526 units in the same month last year.
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GSK
Q3 net rises 55% at Rs 37 crore
Mumbai: GlaxoSmithKline Pharmaceuticals has posted
a 54.78-per cent increase in net profit to Rs 37.38 crore
for the third quarter ended September 2002 as compared
to Rs 29.55 crore for the corresponding quarter last fiscal.
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BSNL
gets TRAI nod to cut night-time Internet charges
New Delhi: Bharat Sanchar Nigam has received telecom
regulator's approval for slashing night-time dial-up access
charges for internet connectivity, announced by Communications
and IT Minister Pramod Mahajan in October 2002.
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Indian
Bank buys 75% of loan portfolio from ailing housing arm
Mumbai: Indian Bank buys 75 per cent of loan portfolio
from ailing housing arm The Chennai-based Indian Bank
has acquired 75 per cent of loan portfolio, amounting
to Rs 100 crore, from its housing finance subsidiary,
Ind Bank Housing (IBHL). The move follows the Indian Bank's
board decision to take over the assets and liabilities
of IBHL and to wind up the company.
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HDFC
to hold EGM on Dec 3 for bonus approval
Mumbai: The Housing Development Finance Corporation
has said that it will hold an extraordinary general meeting
of its shareholders in Mumbai on 3 December 2002 primarily
to seek their approval for a proposed bonus issue.
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CESC
nears another 'due' date after May default
Mumbai: RPG flagship CESC may have cut losses by
96 per cent in the second quarter to 30 September, but
foreign loan repayments remain a huge worry. CESC has
just asked Kleinwort Benson (KBL) to extend its November
loan repayment deadline.
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Stewarts
& Lloyds look for foreign tie-up for tech inputs
Stewarts & Lloyds of India, a subsidiary company of
Tata Steel, is looking for a strategic overseas partner
for bringing in necessary technological know-how, Utpal
Dhar, the managing director of the company, said.
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Chhabria
estate must answer case: Mallya
Bangalore: UB group chairman Vijay Mallya has said
the legal proceedings against the late Manu Chhabria in
a Hong Kong Court will be taken to the logical conclusion.
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Mitsui,
Oman govt offer to buy out SCI in Greenfield
Mumbai: The first foray by an Indian shipping company
into the LNG transportation sector has failed to run its
full course, making the prospective buyers of Shipping
Corporation of India (SCI) jubilant.
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Le
Meridien plans to buy six more hotels
Mumbai: Le Meridien Hotels and Resorts, the London-based
global hotels group with a portfolio of over 140 luxury
and upscale hotels in 55 countries across the globe, is
currently finalising its expansion plans for India. It
plans to buy six more hotels.
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Zydus
Cadila gets Brazilian FDA approval
Mumbai: Zydus Cadila's manufacturing plant at Moraiya
has received approvals from the Brazilian FDA agency,
Agencia Nacional de Vigilancia Sanitaria (ANVISA). The
certification qualifies Zydus Cadila to enter the Brazilian
market with its oral pharmaceuticals.
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SIV
management declares lockout
Mumbai: The management of the SIV Industries issued
a 'lockout' notice late last night, apprehending violence
following the breakdown of talks with the workers' unions
over settlement of wage arrears.
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Mahindra
Subhlabh in talks with FIs for fund infusion
Mumbai: Mahindra Shubhlabh Services Ltd, a subsidiary
of Mahindra & Mahindra Ltd, has initiated talks with
interested financial institutions for possible capital
infusion to fund its agricultural services business.
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Elgi
Equipments net dips; to pay 50% interim
Chennai: The air compressor major Elgi Equipments,
Coimbatore, despite good demand for water well drilling
and automotive garage equipment, witnessed almost a flat
growth in top line in Q2 of the current fiscal compared
to the corresponding period last year.
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Boxer
propels Bajaj's sales in October
Pune: Bajaj Auto has informed that it sold 82,913
motorcycles in October 2002, its highest ever monthly
sale. Total sales of two and three-wheeler for the month,
stood at 1,35,887 units.
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Honda
Siel sales up 55% in October
Mumbai: Honda Siel Cars India said it sold 1,151
units of its City and Accord models in October, registering
a 55.4 per cent growth over the same month last year.
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L&T
cement despatch rises
Mumbai: Larsen & Toubro has informed that its
domestic cement despatches in October 2002 touched 0.89
million tonnes as compared to the year ago level of 0.73
million tonnes.
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