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RPG
Life Sciences plans US entry with Cyclosporine
Bangalore: RPG Life Sciences Ltd has plans to enter
the US global generic drug market with cyclosporine, a
drug used for kidney transplantation. The company also
has plans to set up joint venture in Puerto Rico with
an American company to supply cyclosporine formulations
to the US and other markets.
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RMC
Readymix acquires Fletcher Pioneer India
New Delhi: RMC Readymix (India) Pvt Ltd, a leading
player in the ready-mix concrete sector, has acquired
Fletcher Pioneer India. The latter is a joint venture
between Fletcher Challenger of New Zealand and Hanson
of UK.
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Morepen
files process patent for desloratadine
New Delhi: The Rs 530-crore Morepen Laboratories Ltd
has filed an international process patent for the allergy
drug desloratadine in the US, targeting a $500-million
market.
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KFC
bonds to raise Rs 40 crore
Thiruvanathapuram: The public sector Kerala Financial
Corporation (KFC) has decided to approach the market to
raise Rs 40 crore through bonds issue. The sales window
will be open from March 10 to 12 and will be closed, without
prior notice, once the issue becomes fully subscribed,
an official spokesman said here.
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Sundram
Fasteners setting up unit in China
Chennai: Sundram Fasteners Ltd, part of the TVS group,
is setting up a factory in China to manufacture high tensile
fasteners. To be set up as a 100 per cent subsidiary in
Zhejiang province in south China, the factory will come
up with an initial investment of $5 million, to be made
over five years.
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Piramal
Holdings all set to expand real estate biz — Plans
to enter foodretailing; Crossroads mall soon in Pune
Pune: Piramal Holdings Ltd, which has promoted the
country's first mall management company,Crossroads, is
set to rapidly expand its real estate business and is
also finalising plans for a foray from the apparel segment
into the foods retailing business.
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Hitachi
rights issue by June
New Delhi: Hitachi Home & Life Solutions (India)
Ltd, the erstwhile Amtrex Hitachi Appliances Ltd (AHA),
is going to come out with its rights issue in June.
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Tata
Tea hopes to gain greater market share
Kolkata: After severe competition from local players,
Tata Tea Ltd claims to have consolidated its operations
and hopes to register a growth in its profitability during
the next 12-18 months. This was stated by R.K. Krishna
Kumar, Vice-Chairman of Tata Tea, on the sidelines of
the India International Tea Convention 2003.
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Widia
expects to post net loss
Bangalore: The US metals major Kennametal Inc's local
arm Widia India Ltd will report net loss in the current
financial year, its new Managing Director, Kumar Kanetkar,
has said. The company reported a net loss of Rs 30.45
crore in the first half of the current fiscal and booked
Rs 13 crore as charges towards voluntary retirement scheme
and another Rs 57 crore as non-cash charges.
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Tata
Engg clocks 25 pc rise in sales
Mumbai: Tata Engineering on Thursday reported a 25.3
per cent increase in total vehicle sales, at 185,428 units,
for the April 2002-February 2003 period.
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IOC
to spend Rs 500 cr in retail infrastructure
New Delhi: Indian Oil Corporation plans to invest
around Rs 500 crore in the financial year 2003-04 to improve
its retail infrastructure alone.
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