Aarti Drugs files applications with USFDA
Mumbai: Aarti Drugs Ltd (ADL), a research-driven company engaged in the development and manufacturing of APIs, bulk drugs and intermediates, has filed applications for USFDA approvals for six new molecules in different therapeutic segments such as anti-diarrhoea, cardiovascular, anti-diabetic, sedatives and anti-depressant. This forms part of the company's plans to tap the opportunities in the post-WTO regime.

The company, which has established a presence in the anti-diarrhoea and anti-inflammatory therapeutic groups with products such as Tinidazole, Metronidazole, Nimesulide, Rofecoxib, is the largest producer of benzene-based basic and intermediate chemicals in India. It commands leadership position with over 70 per cent market share of products such as secnidazole, ornidazole and metronidazole, in the anti-diarrhoea therapeutic segment in India.
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HM launches an upgraded Lancer
New Delhi: Hindustan Motors (HM) has launched an upgraded range of the premium mid-size car Lancer, which would be offered along with a three-year or 50,000-kilometre warranty. The four new 'Lancer' models have been priced in the range of Rs 7.25-9.77 lakh (ex-showroom, Delhi). The Lancer is manufactured at the company's Chennai plant, which has an annual production capacity of 12,000 units.
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Eveready to demerge its battery and tea segments
Kolkata: The Rs 1,000-crore Eveready Industries India Ltd, the flagship company of the city-based B.M. Khaitan Group, will be split vertically into two companies - one dealing with battery and packet tea and the other with bulk tea. According to the company, Eveready Industries will continue to deal in batteries and will also take care of the packet tea business, while the new company would deal in bulk tea business only.

According to the company the demerger move is aimed at enhancing shareholder value. Post demerger, the two companies will function as two separate entities. As of now, the battery division generates approximately Rs 650 crore of business out of Eveready Industries' total business of Rs 1,000 crore. The rest is generated by bulk tea. The packet tea business is yet to reach a significant level.
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Polar Pharma to expand capacity
Kolkata: Polar Pharma India Ltd. is expanding its production capacity and has also relaunched its Adam brand of condoms in the premium sector. The product conforms to all the necessary specifications. Polar Pharma is one of the four major condom manufacturers in India. Apart from its branded item, the company is also producing in bulk quantities to meet Government orders.
It is also exporting to Bangladesh, South Africa and Brazil. The company is expecting a "major order from Brazil for 300 million pieces" during the next few weeks. The company's production unit is located at Balasore in Orissa. The company belongs to the Kolkata-based Polar group of industries, popularly known for its fans.
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Bell Granito plans new outlets
Hyderabad: Bell Granito Ceramic Ltd (BGCL), the Baroda-based Rs 100-crore vitrified tiles major, plans to set up 22 exclusive outlets across the country wherein the customers would be provided with the convenience of having a comprehensive display of wide collection of vitrified tiles of the company. BGCL is currently the market leader with a share of around 25 per cent in the Rs 400-crore vitrified tiles market in the country.
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Bharti to surrender fixed line licences
New Delhi: Bharti Tele-Ventures Ltd has decided to surrender four of its fixed line services licences to the Government and claim a refund of Rs 145 crore paid for them. The company said that it has informed the Department of Telecommunications that it would surrender its licences for the New Delhi, Haryana, Karnataka and Tamil Nadu regions in the wake of a new unified access licensing regime that came into effect in November last year. The unified licence allows operators to offer both cellular and fixed services. Since Bharti already has unified licences in these four circles, it did not make sense for the company to hold on to the fixed line licences.
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MTNL profits rise 31 per cent
New Delhi: Mahanagar Telephone Nigam Ltd (MTNL) has reported a 31 per cent increase in net profit at Rs 1,150 crore for the year 2003-04 as compared with Rs 877 crore in the previous year. The company has also announced a 45 per cent dividend.
The net income increased 10.84 per cent to Rs 6,684 crore from Rs 6,030 crore. Profit before tax has also gone up to Rs 1,686 crore, up from Rs 1,260 crore.
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Hutch seeks FIPB nod for group consolidation
Mumbai: Hutchison Max Telecom today said it has sought the approval of the Foreign Investment Promotion Board to consolidate its various telecom interests in India under a single entity. According to a press release issued here, Hutchison Max has applied to FIPB to allow shareholders of Hutchison Essar Telecom Ltd (Delhi), Fascel Ltd (Gujarat), Hutchison Telecom East Ltd (Kolkata), Hutchison Essar South Ltd (Andhra Pradesh, Karnataka, Chennai, Punjab, Uttar Pradesh, Bengal) and Aircel Digilink India Ltd (UP East, Rajasthan, Haryanan) to transfer all their shares in these companies to Hutchison Max and become shareholders of HMTL.
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FaceTime buys out Tumbleweed development centre
Bangalore: Real-time communication management software maker, FaceTime Communications, has bought out the development centre of Tumbleweed Communications in Bangalore for an undisclosed sum, a company news release said. FaceTime will leverage more than 50 additional product development resources to rapidly increase its product depth, shorten its development cycle and expand the customer support organisation.
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Milestone Interactive to release Hollywood films
Mumbai: Milestone Interactive Software Ltd has formed a division called Milestone Pictures under its flagship brand, which will bring Hollywood movies into India. The new division will focus on Hollywood film releases for theatrical, home video and television. About five films are being lined-up for release in 2004-05. The first movie to be launched by Milestone Pictures is the award winning Charlize Theron starrer, Monster. The movie is slated to be released on June 25. The company's foray into movies comes in the wake of convergence between Hollywood movies and videogames. Most of the big releases such as The Matrix, Tomb Raider, Spiderman, and Van Helsing got turned into videogames and vice-versa.
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