Fedders Lloyd lashes out at Fedders Corp
Kolkata: The ongoing dispute between Fedders Corporation USA and its ex-partner Fedders Lloyd Corporation India is hotting up with the latter terming FC’s move to shift its law suit against FLC from Kolkata to Delhi as a desperate attempt to revive a case which was dismissed by the court in the 1990s.
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Radico Khaitan plans to acquire liquor brands
Mumbai: Radico Khaitan Limited plans to acquire regional alcoholic beverage brands and transform them into national brands. To begin with the company will roll out Old Admiral Brandy nationally.
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Ranbaxy Launches anti-infective drug Refzil O in India
Mumbai: Ranbaxy Laboratories Limited has launched a high- end, advanced cephalosporin under the brand name Refzil O. The anti-infective product belonging to the advanced Cepholosporin category, has been launched for the first time in India.
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Divi’s Labs fixes Rs 130 per share as floor price for IPO
Hyderabad: Hyderabad-based Divi’s Laboratories has fixed a floor price of Rs 130 per share (face value Rs 10) for its initial public offering. The company has opted for the 100 per cent book- building method.
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Hyundai Santro overtakes Maruti Alto as Nepal’s top car
New Delhi: Hyundai Motor India’s flagship Santro has usurped Maruti Suzuki’s Alto to occupy the number one bestselling car in Nepal.
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Sarbannes-Oxley may find echo here
New Delhi: The Sarbannes-Oxley Act, which has made life tougher for finance professionals in America, could soon find its way into Indian banks. The law has fixed new reporting standards for US auditors and top managements, and there are stiff penalties should they fail to meet them.
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ITC, 4 others in race to buy Mafco
Mumbai: Five companies, including ITC - the country’s largest cigarette company - are in the race to buy Mafco, the only agro-products company owned by the Maharashtra government and which is being privatised.
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Hitachi Life to hike stake in Amtrex
New Delhi: Hitachi Home & Life Systems is planning to raise equity holding in Amtrex Hitachi Appliances up to 74 per cent. Confirming the plans, Kunio Sebata, president & CEO of the appliance and electronics company, who is in India currently, also laid down growth plans for Hitachi in India.
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Indigo helps Telco ride on a 29 per cent sales jump in Jan
Mumbai: Tata Engineering and Locomotive Company has reported total sales of 23,316 vehicles in the domestic market for January 2003, an increase of 28.73 per cent over 18,112 units sold in same month of last year.
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Mahindra to hike production of Scorpio
Mumbai: Buoyed by the success its sports-utility vehicle 'Scorpio', Mahindra and Mahindra (M&M) will increase monthly production of the vehicle to 2,500 units in the next six months.
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Tata Tele to step up focus on call centres
Mumbai: Tata Telecom plans to focus on the call centre business for the next two to three years. With over 60 per cent market share in call centre solutions, Tata Telecom is already India's leading voice communication solutions provider.
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Unilever to buy seafood only from certificed cos
New Delhi: In an attempt to conserve seafood resources, Unilever will buy seafood only from sources that practise sustainable fishing methods. The company, one of the largest in the area of food, will enforce this decision from '05.
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Toyota to set up parts units, invest Rs 780 crore
New Delhi: Toyota Kirloskar Motor, which has so far invested Rs 900 crore in Indian operations to roll out cars like Qualis, New Qualis, Camry and Corolla, is bringing in another Rs 780 crore for setting up two export-oriented auto parts units, including an automotive transmission unit.
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Apollo Tyres halts operations at Ranjangaon unit
New Delhi: The management of Apollo Tyres Ltd has with effect from February 7 "suspended operations" at the company's automobile tube manufacturing plant at Ranjangaon in Pune, Maharashtra on account of "labour problems".
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Tribunal clears road for Bayer to acquire Aventis
Mumbai: The Securities Appellate Tribunal has allowed Bayer CropScience AG to proceed with its plans to acquire the shares of Aventis CropScience through an open offer, but kept the German company's offer price of Rs 157 per share pending.
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To skirt PSU norms - ONGC moots retail joint venture with 49 per cent stake
New Delhi: The board of Oil and Natural Gas Corporation is considering a proposal for a joint venture company to set up retail outlets as well as to undertake quick investment decisions that cannot await procedures that public sector undertakings are mandated to follow. ONGC was granted a licence in May last year to set up 600 retail outlets.
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SRL Ranbaxy lab gets NABL accreditation
Bangalore: SRL Ranbaxy has said its Bangalore lab has received the ISO/IEC 17025 accreditation from NABL. The lab is the first in Bangalore and the 19th in the country to get the approval of the National Accreditation Board for Testing & Calibration Labs under the DST, and with this, all SRL labs have been accredited, according to a release from SRL Ranbaxy here.
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BIFR confirms winding up of Montari Ind
New Delhi: Repeated attempts for rehabilitating the ailing Montari Industries Ltd (MIL) having failed, the Board for Industrial and Financial Reconstruction has confirmed its prima facie opinion on winding up the company.
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Ashok Leyland eyes W. Asia, S. Africa markets for engines
Chennai: With a 17 per cent jump registered in exports during April 2002 to January 2003, Ashok Leyland is looking at supply of its new four-cylinder engine to the West Asian and the South African markets.
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Coats India launches `Sylko'
New Delhi: Coats India has added more hues to its industrial threads by launching new embroidery thread range under the international brand name `Sylko'.
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