No plans to exit L&T, says AV Birla group
Mumbai: With the Securities Appellate Tribunal order going in favour of the Sebi, industry experts and analysts say the one option the AV Birla group can exercise is to exit Larsen & Toubro.
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Roy seeks strategic partner to beef up Green Label brand
Mumbai: After the acquisition of Gilbey’s Green Label for Rs 60 crore from UDV India Ltd, the management team led by Deepak Roy is planning to bring in a strategic partner to consolidate its position in the market.
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FIs to await details of Sebi investigation
Mumbai: The financial institutions which have a stake of around 40 per cent in Larsen & Toubro reacted with a degree of satisfaction at the Securities Appellate Tribunal order upholding the Sebi decision to stall Grasim’s open offer for L&T.
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Sahara, Inox ink MoU for Gurgaon multiplex
New Delhi: The Sahara India group signed a memorandum of understanding with Inox Leisure Ltd on Wednesday, for operations of the multiplex at the Sahara Mall in Gurgaon.
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Reliance sets the pitch for cell tariff war
Mumbai: The launch of limited mobility services by Reliance Infocomm promises to spark off a massive price war. In proposals submitted to the Trai, the Reliance group's New Economy arm has offered a tariff of 20 paise per minute with a 15 second pulse.
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2-wheeler exports zoom 67 per cent in April-October
Mumbai: Close on the heels of a jump in motorcycle sales in the domestic market, the export market has also seen an upswing. Two-wheeler exports increased by 67 per cent, primarily driven by motorcycles, for the period April to October 2002.
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Brown & Polson, Rex up for sale
Mumbai: Hindustan Lever has put three of its brands, Brown and Polson custard, Rex jelly and vitamin drink, Glucovita, on the block. The combined turnover of these brands is currently close to Rs 25 crore.
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Nicholas Piramal plans big push for respiratory drugs
Mumbai: Nicholas Piramal India (NPIL) is planning to inject new life to its respiratory business, a market that it entered through acquisition of Rhone-Poulenc India in 2000. The new strategy for the division targets a Rs 400-crore turnover by fiscal 2005 from the current Rs 250 crore that will double the present sales growth by 16 per cent.
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Invensys to set up automation centre in Hyderabad
New Delhi: UK-based £10bn engineering automation giant Invensys plans to enter the Indian market. The company wants to set up a development centre in Hyderabad to design high-end process automation equipment.
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Lifestyle to invest Rs 50 crore more in local operations
Mumbai: Lifestyle India, part of the Dubai-based Landmark Group, which is venturing up north with a store at Gurgaon on November 30, plans to add five stores over next two years.
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Baskin Robbins to rejig distribution structure in India
Mumbai: Baskin Robbins is revamping its distribution structure in India. According to the blueprint, the brand will move from the current independent franchisee route to a regional master franchisee concept.
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Maruti to double exports, thanks to Netherlands
New Delhi: Maruti Udyog is planning to double its exports to western Europe and is introducing a new car Vitara, later next year.
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Dr Reddy’s forays into critical care with Omeprazole
Hyderabad: Dr Reddy's is set to get the distinction of being the first to launch Omeprazole in injectable form in the domestic markets. The introduction of Omeprazole injection, in the anti-ulcer segment, would help the company penetrate the critical care areas and also strengthen its position in the oral dosage market.
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Nagarjuna launches designer fertiliser
Hyderabad: Making a foray into "prescription fertilisers", Nagarjuna Fertilisers and Chemicals has launched the country's first granulated fertiliser blend under the brand name Divyshakthi.
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Goa next in list for Sun-n-Sand
Mumbai: The Mumbai-based Sun-n-Sand Hotels is on the lookout for a running property in Goa to complement its existing properties in western India and is likely to tie up a deal in this direction in the next one year.
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Organon (India) to shift operations to Mumbai
New Delhi: After being in operation for over 35 years in the city, the pharma MNC, Organon (India) Ltd (earlier known as Infar India) has decided to move out lock, stock and barrel to Mumbai.
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Ranbaxy to provide AIDS drugs to 10 lakh patients
Mumbai: Ranbaxy Laboratories Ltd has announced that it is gearing to provide anti-AIDS medicines for treatment to 5-10 lakh patients suffering from AIDS in the coming 18-24 months across the world.
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SAB India changes name
New Delhi: South African Breweries India Ltd (SAB) has announced the change of its name to SABMiller India Ltd with immediate effect.
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HLL pays Rs 44 crore for remaining 26 pc in Modern Foods
Mumbai: FMCG major Hindustan Lever Ltd yesterday declared that it has acquired the remaining 26 per cent equity stake in Modern Food Industries (India) Ltd from the Government for Rs 44.07 crore.
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Himalaya Drug plans new venture in Egypt
Bangalore: The Bangalore-based Himalaya Drug Company is planning to launch a new initiative in Egypt to manufacture and market herbal and healthcare products.
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BIFR pulls up IDBI in Binny case
New Delhi: The Board for Industrial & Financial Reconstruction (BIFR) has pulled up the Industrial Development Bank of India (IDBI) for not following its instructions and causing undue delay in the case of Binny Ltd.
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BIFR may decide on ECL soon
New Delhi: The Board for Industrial and Financial Reconstruction (BIFR) has indicated that it wants to decide on the issue of revival of the sick Eastern Coalfields Ltd (ECL) at the next hearing, to be held in the city on December 10.
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