Hind Sanitaryware to double capacity of glass division
Chennai: Hindustan Sanitaryware plans to nearly double the production capacity of its container glass division to 750 tonnes within a year and intends to invest Rs 195 crore in the project. The investment comes on the heels of an increase in sales and capacity utilisation in 2002-03. The division's turnover for 2003-04 is expected to be in the region of Rs 300 crore. It contributes about 55 per cent of the company's turnover.
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Ranbaxy's new drug for erectile dysfunction
New Delhi: Ranbaxy Laboratories Ltd has launched Forzest (Tadalafil), an approved prescription medicine for the treatment of erectile dysfunction (ED) in men. Forzest has an advantage over the already available Sildenafil in terms of a longer therapeutic window as it acts faster and can be taken any time up to 36 hours in advance. Tadalafil is also referred to as the weekend pill.
It is estimated that in India alone about 50 million patients suffer from erectile dusfunction disorders.
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GMR Energy to set up new plant
Mumbai: GMR Energy Ltd has raised Rs 100 crore of equity from the India Development Fund to set up a new plant at Vemagiri in Andhra Pradesh. India Development Fund would hold a 15 per cent stake in the company.The company, operating two plants at Mangalore and Chennai, is one of the largest independent power producers in India.
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Shree Synthetics board to meet
Mumbai: Shree Synthetics Ltd has informed Bombay Stock Exchange that a meeting of the Board of Directors has been convened on February 27, 2004, to take a record date for implementing of Scheme of Amalgamation between the Company & New Horizon (Chennai) Ltd, which inter alia provides for reorganisation of the company's existing equity capital.
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GE Capital to invest in Ashok Leyland Finance
Chennai: GE Capital is to invest Rs 47 crore in Ashok Leyland Finance. Ashok Leyland Finance's board will consider issuing GE Capital 47 lakh preference shares in turn.
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ICRA grades BE Billimoria at CR2
New Delhi: Credit rating agency ICRA Ltd has assigned a CR2 grading to BE Billimoria and Company that indicates strong project execution capability.The rating is based on the company's ability to complete projects on time without cost overruns and pay liquidated damages for non-conformation. The rating, however, is one notch below CR1 level, which is the highest possible, an ICRA release said here.
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Bharat Forge rights issue
Mumbai: Bharat Forge Ltd has informed the BSE that its proposed rights issue would be in the ratio of one equity share of Rs 10 each for every 20 equity shares of Rs 10 each held on a record date to be notified later. The rights shares would be in the price band of Rs 550-660 per equity share (including premium), the exact price to be firmed up in due course. Further, for every two equity shares offered and allotted on rights basis, the allottees will be given one detachable warrant entitling the recipient to one equity share of Rs 10 on conversion. The warrants will be issued free of cost. The decisions were taken at a meeting of its board-empowered committee looking into the terms and conditions of the proposed issue.
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Sterlite files for rights issue
Mumbai: Sterlite Industries has filed the draft letter of offer for a rights issue of 2.27 crore equity shares of Rs. 5 each. This would be in the ratio of three shares for every 10 equity shares held on the record date. According to the draft offer document filed with Securities and Exchanges Board of India, the price range of the issue would be between Rs 670-800 per share.
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Cellnext will compose your ring tones
New Delhi: Cellnext Solutions Ltd, a wireless IT solutions company has launched a `customised ring tone' application service. The subscriber only needs to dial a short code and sing/talk/hum/buzz into a cell-phone. The application then converts the voice to cell-phone music ring tones.The entire process happens on a real time basis and the subscriber receives the tone on the handset as an SMS. This application is based on the Ring Tone Composer technology. At present, this application is available for Escotel subscribers and Cellnext is in the process of launching it in other circles.
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Rs 200 cr for expansion of Escotel networks
Kochi: IDEA Cellular Ltd has said that it will invest Rs 200 crore towards expanding the networks of Escotel Mobile, in order to help them grow and meet up with the demands of a continuously growing subscriber base. Idea bought Escotel and Escorts Telecommunications in January for an estimated Rs 1,200 crore. Escotel has operations in Haryana, Uttar Pradesh (West) and Kerala, and has a subscriber base of about 9.40 lakh by the end of February 2004.
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Goldstone bags state project in US
Hyderabad: Goldstone Technologies Ltd has announced that a local Government in the State of California awarded a contract for migration of their AS400 systems to J2EE (Jave2 Enterprise Edition).The order seeks to convert the city's financial applications from AS400 to J2EE-complaint applications running on Sun servers.
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Modular Info offers upgraded Lipi package
Pune: Modular Info Tech Pvt Ltd is offering the latest version (version 6.0) of their product Shree Lipi Devratna 6.0. This package helps prepare documents and data in Indian languages and also has a special package for the Devnagari script, which includes Hindi, Marathi and Konkani. According to an official release, it would be available in two packages of Rs 5,025 and Rs 8,375.
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Amadeus launches e-ticketing
New Delhi: Amadeus India, a provider of global distribution systems (GDS), has announced the rollout of e-tickets in partnership with 11 international airlines, including Air France, British Airways, Cathay Pacific, Swiss International, Lufthansa and Singapore Airlines, among others.Apart from international airlines, Amadeus is also exploring the possibility of e-ticketing in the domestic sector as well.In a statement, the company has said that the Amadeus Electronic Ticket Server will serve as the back-end integrating system for the international airlines enabling the delivery of e-tickets in a cost-efficient manner.
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