Merck India Eyes Acquisition Of Brands, Companies
Mumbai: To strengthen its product portfolio, Merck India is on the prowl to buy out suitable brands and companies. It is also planning new introductions in its chemicals and pharmaceuticals divisions. Further, it is stepping up efforts to increase exports especially to other units of its overseas parent.
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Godrej Seeks Okay For Temporary Staff Lay-off
Mumbai: Faced with low off take and weak consumer dem-and, Godrej & Boyce's appliances division (erstwhile Godrej Appliances) has sought permission from the Commissioner of Labour to lay off about 1,000 employees at its Mumbai plant, for a period of 30 days effective from July 15, 2003. This forms about 30 per cent of the total workforce of the appliances division of Godrej & Boyce.
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Wipro Q1 margins seen falling due to rate revamp
Bangalore: Integration cost of NerveWire, the strengthening rupee and certain rate re-negotiations with existing clients are expected to drive down the operating margins of Wipro Ltd sequentially in the first quarter of the current fiscal.

The company expects revenues from its software efforts to be close to $172 million in the April-June quarter, while its BPO subsidiary - Wipro Spectramind - is likely to contribute $16 million. It had already factored in price cuts in the current quarter's guidance.
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Testing arm gives Polaris the edge
Chennai: In 1997, the Citigroup outsourced its application testing and maintenance requirement from Polaris Software Lab.

It was the first of its kind that a laboratory was outsourced by Citigroup from anywhere outside the US.
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Nicholas Piramal to enter vaccine biz
Mumbai: The Rs 1,100-crore pharmaceutical major Nicholas Piramal India Ltd (NPIL) is planning to enter the high growth vaccines business.

Mr Vijay Shah, Executive Director, NPIL, said that the company is considering its options to enter the preventive healthcare business in India.
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In Vitro bags Karnataka Govt award
Bangalore: The city based In Vitro International, an exporter of tissue culture plants covering a range of floricultural, horticultural, agricultural and medicinal crops, has been presented with the Gold Award for best exports during 1996-2000, under the Agro Horticulture Product Category, by the Karnataka Government recently.
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BSNL on target in Nilgiris
Wellington: BSNL's plans to cover the whole of the `2450' sq km of the Nilgiris District by March 2004 may well be easily fulfilled given that the telecom PSU is all set to commence phase II of its operations much before its targeted date.
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BHEL, NTPC join hands for power projects
New Delhi: The two public sector majors, Bharat Heavy Electricals Ltd (BHEL) and National Thermal Power Corporation (NTPC) have joined hands to take up running and maintenance of power plants, engineering, procurement and construction (EPC) and other jobs in upcoming power projects where the promoter companies are not interested, apart from other peripheral activities such as township maintenance.
To this effect, a memorandum
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Cos, FIs prepay Rs 5,200 crore of foreign debt
New Delhi: Leading corporates and FIs, including ONGC, BSES, Tata Power, HDFC and ICICI, prepaid costly foreign loans of multilateral agencies worth about Rs 5,200 crore last fiscal to take advantage of the lower interest rate regime in the country and reduce their interest costs.
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Toyota's new MPV may replace Qualis
Bangalore: Toyota Motors' prestigious international multipurpose vehicle, expected to be launched late next year in many Asian countries, may replace the Qualis model in India.
Toyota Kirloskar Motor Company (TMK) is understood to be looking at the possibility of launching the international multipurpose vehicle for which its another joint venture in India, Toyota-Kirloskar Auto Parts, has been roped in to supply gear boxes.
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Optical network plans derailed by Chinese co - RailTel, once bitten twice shy
New Delhi: In a move that has confounded Railtel Corporation of India (RailTel) - the telecom subsidiary of Indian Railways - the Chinese telecom equipment provider Huawei Technologies Ltd has placed its bid to deploy high-speed optical fibre cable (OFC) network on the 11,000 km corridor linking the four metros and mini metros of Ahmedabad, Pune, Secunderabad and Bangalore.
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