Natco Pharma launches X-trant for prostate cancer
Hyderabad: Hyderabad based Natco Pharma Ltd has announced the launch of a drug to treat prostate cancer in the 140-mg capsules form under the brand 'X-trant' (estramustine).

In a press release here on Monday, Natco Pharma said X-trant was helpful in the palliative treatment of of prostate carcinoma. Besides reducing the intensity of pain, X-trant also acts as an anti-tumour agent.

According to the company, the medicine is also useful for patients with limited bone marrow reserve. Available till now only through the import channel, X-trant will ensure the drug's availability at an affordable price of Rs.13, 500 per bottle of 100 capsules, the Natco release said.
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UB and Shaw Wallace finally call it quits
Bangalore: Shaw Wallace & Company (SWC), managed by the Jumbo group, has announced that all disputes between it and the UB group, headed by Vijay Mallya, have been resolved. This brings to an end a series of legal cases, some dating as far back as the 1980s. The most critical of the litigations was a suit at a Hong Kong court filed by two Hong Kong-based companies, Alexina Investments and Sovereign Nominees (formerly known as Roche Nominees), associated with the Golden Eagle Trust of which Mr Vijay Mallya is a discretionary beneficiary.

M.R. Chhabria, Jumbo International Holdings, Keysberg and some other Hong Kong-based companies associated with the Jumbo group were the respondents. The plaintiffs had claimed 50 per cent ownership in Carrasco, the special purpose vehicle created for acquiring shareholding in Shaw Wallace in the mid-80s.

After over a decade of litigation, both sides filed consent terms in the court on June 18, 2004 upon which the court of first instance (in the High Court of the Hong Kong Special Administrative Region) dismissed the case. In India, the principal dispute between the two parties has been over the shareholding acquired by McDowell & Co and UB Holdings in SWC in the mid-90s and 2002.
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Assocham against private sector job quota
Kochi: The Associated Chambers of Commerce and Industry of India (Assocham) has protested the move to introduce a legislation for job reservation in the private sector, saying that it will have adverse impact on the industry.

According to Assocham, instead of competency, proficiency and merit of candidates for jobs, the employment will be based on caste, creed or colour if legislation comes in this direction. In this era of globalisation, if legislation becomes mandatory for global companies, many would leave the country.
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Gujarat Ambuja to set up cement plant at Dadri
Mumbai: Gujarat Ambuja Cements is putting up a 1.2 million tonne cement manufacturing facility in the vicinity of National Thermal Power Corporation's facility at Dadri in Uttar Pradesh at a cost of Rs.100 crore. This would bring Gujarat Ambuja's total capacity to 15.7 million tonnes annually.

Gujarat Ambuja has announced a tie-up with NTPC for utilisation of 3.5 lakh tonnes of fly ash produced by the latter in Dadri and is already scouting for land in the area, said a new release from the company. The project may be started in October, creating 0.6 million tonnes of capacity that will consume 1.8 lakh tonnes of fly ash. By the end of the second phase, scheduled for two years later, in December 2006, 3.5 lakh tonnes of fly ash will be utilised to produce 1.2 million tonnes of cement.
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Divi's Labs projects Rs.400 crore turnover for 2004-05
Hyderabad: Divi's Laboratories, Hyderabad, has projected a turnover of Rs.400 crore for the financial year 2004-05. The company achieved a turnover of Rs.317 crore in the fiscal 2003-04, with a net profit of Rs.73 crore.
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GTB net loss for the year at Rs.812 crore
Hyderabad: Despite additional recoveries of Rs.323 crore from non-performing assets (NPAs) and written-off accounts during the last fiscal year, Global Trust Bank (GTB) has suffered a huge net loss of Rs.812.38 crore. It had incurred a net loss of Rs.272.7 crore in the previous fiscal. The bank has prepared its accounts on a 'going concern basis' in view of the proposed merger with OBC. According to the bank, its total accumulated losses as on March 31, 2004 exceeded its capital and reserves by Rs.810.18 crore.

For the fiscal under review, the bank registered interest earnings of Rs.354.19 crore compared with Rs.539.59 crore in the previous fiscal and other income of Rs.161.06 crore (Rs.191.36 crore), taking the total income to Rs.515.25 crore (Rs.730.95 crore). The provisions and contingencies amounted to Rs.708.19 crore (Rs.309.09 crore) and provision towards taxation stood at Rs.25.4 crore (Rs.50,000 ), leading to the bank incurring a net loss of Rs.812.38 crore (Rs.272.7 crore).
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Amada moves software unit to Chennai
Chennai: Amada Co Ltd, one of Japan's largest sheet metal machine manufacturers, has shifted its software development to Chennai and Shanghai from its headquarters in Kanagawa, near Tokyo. The company's 100 per cent subsidiary in Chennai, Amada Soft India, currently employs about 60 professionals, and the Shanghai centre about 100.

Amada Soft was started with six employees in 1996, and reported a turnover of Rs.4.43 crore last year. The revenue is likely to be about Rs.7 crore by the end of year. The company expected to double revenue to $20 million (about Rs.90 crore) during the current year on increased selling of Amada's products, which include machines for cutting and bending and robotics.
Globally, Amada's revenue was $2 billion.
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Hutch's new plans for TN post-paid customers
Chennai: Hutch has announced two plans that will let its post-paid subscribers here call any part of Tamil Nadu at local call rates, according to a press release. Under one plan, Talk 250 TN, calls to GSM phones will be charged at Rs.1.50 a minute, and to fixed lines and others at Rs.2.50 a minute. A monthly rent of Rs.250 will be charged.
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