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Taj
hotel completes 100 eventful years
Mumbai: From the hallowed halls of the grand old
lady of Indian hospitality, stories of suicides, back-to-front
facades, defiance towards the British and social slights
by the Yatch Club have circulated, grown and taken root.
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Philips
India aims Rs 450-crore turnover from TV business
Kolkata: Philips India Ltd is targeting a turnover
of Rs 450 crore from its television business for the year
2003 - around 30 per cent up from Rs 350 crore this year.
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L&T
boss Naik pushes demerger to managers
Mumbai: In what can be seen as an attempt at going
full throttle on the cement demerger issue, Larsen &
Toubro managing director and CEO AM Naik told the company’s
managerial staff on Monday that the demerger would generate
value for the company and the Aditya Birla group was not
in a position to influence the board’s decision.
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Tatas
set to launch Indigo on Thursday
Mumbai: Tata Engineering unveiled the Indigo, its
latest passenger car offering for the entry level C-segment,
on Monday.
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IOC
plans to base South East Asia hub in Malaysia
New Delhi: Indian Oil Corporation Ltd plans to
set up a distribution and marketing unit in Malaysia which
will operate as the hub for the entire South East Asian
operations.
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Bajaj
brothers close to truce
Mumbai: The bitter feud within the Bajaj family
may finally be headed for an amicable settlement.
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Less
for more: Life gets costlier
Mumbai: The Life Insurance Corporation of India
after accepting a Rs 51-crore life insurance proposal
may now have to settle for a lower sum insured.
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Cipro
royalty to start flowing to Ranbaxy soon
New Delhi: Domestic pharma major Ranbaxy has achieved
the first breakthrough in its R&D programme with a
new drug delivery system (NDDS) product, once-a-day dosage
from of ciprofloxacin which it licensed out to Bayer in
mid-1999, successfully reaching the commercial launch
stage.
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Nagarjuna
refinery may not take root in TN
Chennai: The beleaguered promoters of the 6-million
tonne Nagarjuna oil refinery at Cuddalore in Tamil Nadu
are looking for alternate locations to move the project.
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'US
firms lose $2billion every year due to weak patent laws'
New Delhi: Pharma, a powerful US-based lobby of
research-driven multinational drugmakers, has pegged the
losses to its members from the absence of patent protection
in India at more than $1.7bn (Rs 8,000 crore) annually.
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MphasiS
to write off Rs 713 cr of goodwill
Bangalore: The banking software services company
MphasiS plans to write off assets worth Rs 713 crore to
represent the fair value of reserves in the form of goodwill
in the company's balance sheet.
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Blackberrys
to focus on women's wear
New Delhi: Blackberrys, a specialist in 'Khakis',
having found success in the menswear segment, now plans
to enter the women's apparel market. It also intends to
open more retail stores in eastern and southern India.
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Escorts
JCB rejigs distribution
Mumbai: In a bid to increase its customer focus
and to be close to the market, construction equipment
major, Escorts JCB (EJCB), has restructured its distribution
network.
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Bangur
group cos may take stake in sugar unit
Kolkata: The sugar venture of the city-based S.K.
Bangur group, Bharat Sugar Mills Ltd, may not remain a
subsidiary of the group's flagship - West Coast Paper
Mills Ltd - for long as other companies of the group are
likely to take an equity stake in it.
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Orchid
acquires Mano Pharma
Chennai: Orchid Chemicals and Pharmaceuticals Ltd
announced the decision to acquire the Chennai-based formulations
company, Mano Pharmaceuticals, and its sister company,
Sali Healthcare, on a cash deal of Rs 26 crore.
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TI
Cycles to set up plant at Noida
New Delhi: In a bid to tap markets located in the
eastern part of the country, TI Cycles of India, a unit
of Tube Investments of the Murugappa group, plans to set
up a plant in Noida.
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BHEL
plans tie-up with IT major
Mumbai: BHEL, which has put service exports high
on its new business priorities, is working on plans to
provide remote services through a joint venture with a
domestic IT major.
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Reliance
pegs subscription base at 6 m in first year - LG, Samsung
hope to liven up CDMA market
Seoul: Even as the tariff plan for limited mobility
services submitted by Reliance Communications Ltd is being
"studied" by the Telecom Regulatory Authority
of India (TRAI), the company has pegged its subscriber
base during the first year of operations at close to six
million.
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Cochin
Intl Airport may post Rs 2-cr profit
Kochi: The Cochin International airport at nearby
Nedumbassery, the first ever private sector airport in
the country, is likely to post a profit of over Rs 2 crore
during the current fiscal.
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Volvo
launches new tipper truck
New Delhi: Swedish group Volvo has launched its
new FM9 tipper truck in India. The new truck will be aimed
at the construction industry, fuelled by speedy highways
projects commissioned across the country.
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