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Overture
to buy AltaVista for $140 mn
New Delhi: Internet search company Overture Services
on Tuesday said it would buy Web portal AltaVista from
CMGI Inc. in a $140 million deal aimed at boosting its
own "competitive advantages".
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Ranbaxy
faces Rs 1.5-crore penalty for pricing flaws
Bangalore: The recent Bangalore High Court order,
making it mandatory for drug companies to comply with
the new price notifications for batches of medicines released
prior to the mandated date of implementation of the revised
price, has had the first casualty among drug majors.
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AV
Birla group to recast garment business
Mumbai: The Aditya Birla group is restructuring its
floundering garment business, three years after taking
control of brands such as Allen Solly, Louis Phillipe,
Van Heusen, Byford and San Frisco in a high-profile acquisition
from the Indian arm of UK-based Coats Viyella.
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Eicher
to sell part of its ailing gears business for Rs 40 cr
New Delhi: The Delhi-based automobile company Eicher
is looking at selling off a part of its gears business,
Eicher Demm. The sale would include Eicher Demm's Thane
unit, and the deal size is expected to be around Rs 40
crore.
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Hindustan
Seals, Indal re-submit bids for Pennar
New Delhi: The race for the control of the Hyderabad-based
Pennar Aluminium is hotting up with the two interested
companies, Indal and Hindustan Seals, re-submitting their
bids.
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PEL
to shelve Uzbek JV for explosives
New Delhi: The Secundarabad-based Premier Explosives
Ltd has decided to shelve its ambitious joint venture
project to manufacture industrial explosives in Uzbekistan.
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Mahindra
Defence inks pact with Lockheed Info
Mumbai: Mahindra Defence Systems (MDS), an independent
division of tractor and utility-vehicle major Mahindra
& Mahindra, has forged an alliance with UK-based Lockheed
Martin Information Systems to jointly develop simulators
for the Indian defence forces.
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Kinetic
Engineering plans to roll out new 110-cc bike
Pune: Kinetic Engineering is currently working on
a 110 cc executive segment motorcycle offering. Code-named
’Project Velocity’, the bike will have the same
engine platform but will have new design and styling.
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Telco
launches limited edition of Tata Safari
Mumbai: Tata Engineering has launched a limited edition
of Tata Safari only for the domestic market, costing over
Rs two lakh more than the current model.
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SKF
to set up service development centre
Mumbai: The SKF group, leading player in roller bearings
and seals, has chosen India as the venue for setting up
its global development centre for services relating to
two-wheelers.
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Yokogawa
bags MSEB order
Bangalore: Yokogawa Blue Star Ltd. (YBL), a process
automation company, has announced that it has bagged an
order from the Maharashtra State Electricity Board (MSEB)
for supply of Zirconia Oxygen Analysers with Yokogawa's
cell technology.
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FAL
Industries posts lower net
Chennai: FAL Industries Ltd has reported a lower net
profit of Rs 38 lakh for the third quarter of the current
year, as against Rs 41.27 lakh in the corresponding quarter
of last year.
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Centaur
board meet may finalise VRS
Mumbai: The board of the Air India subsidiary, Hotel
Corporation of India (HCI), is to meet in Delhi on Friday
to discuss a slew of measures to turn around the state-owned
hospitality major.
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GE,
Bechtel close to acquiring Enron stake in Dabhol
New Delhi: Power equipment majors and equity holders
in the Dabhol power project, General Electric (GE) and
Bechtel, are close to acquiring Enron's equity 65 per
cent in Dabhol Power Company (DPC). GE and Bechtel, which
have 10 per cent equity apiece in DPC, have informed the
Government that they have signed a letter of intent (LoI)
with Enron and Overseas Private Investment Corporation
(OPIC), a lender and project insurer, to this effect.
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Sharp
Business hopes to double turnover in 2 years
New Delhi: Sharp Business is expecting to have a 20
per cent market share in the LCD monitor segment by March
2005.
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