RPG revamps retail business
Kolkata: RPG Enterprises is restructuring its retail business before its proposed IPO. The revamping could entail merger of the different arms of the company and adjustment with the different partners in this business.

The group is not planning to exit from any arm of its retail business or make any changes in its management structure according to sources in the company.

Recently the group reverted to using the brand name Spencers for its hypermarkets chain Giant.

According to sources the name Giant stood for dominace, killer promotions and offers and value for money. The group now aims to use the Spencers brand to deliver more of the same and add a significant "fun" element to this through a strategy to deliver it to the customer.
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February shakeout puts Indica ahead of M800
Bangalore: A shakeup is being witnessed in car sales ranking in the month of February.

While the Maruti Alto at 12,177 units retained its place as the highest selling car, the big surprise was that the Tata Indica overtook the M800 to assume second place relegating the latter to third spot. Wagon R art 7,088 units stood in fourth place while Hyundai Santro slipped to the fifth slot in the top 10 list of car sales.

Maruti has retained five slots in the top ten car rankings with first place for Alto, third place for M800, at 8,038 units, fourth place for fourth for the Wagon R and Zen with 4,049 units in the seventh position.

Last year in February 2004 M800 was the highest selling car at 13,518 units and Santro was in second place at 8,854 units while Alto stood third at 8,320 units. Indica was behind at 7,325 units. Zen occupied the fifth place with 5,907 units (same as Santro this February with 5,881 units). Wagon R took the sixth place at 4,952 units.
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Mercator Lines expands operations
Mumbai: Mercator Lines is planning to invest over Rs1,300 crore in the next quarter of the present fiscal to expand operations.

The shipping company is planning to buy at least six new vessels as part of this expansion and is diversifying into the bulk segment.

The company would be raising around $60 million by way of foreign currency convertible bonds (FCCB) and the balance would be met by domestic debt plus internal accruals.

A significant aspect of MLL's current expansion is its foray into the bulk market, since it has been confined to the tanker market till now. Of the six vessels the company is proposing to acquire, three will be bulk carriers, including a new one.

Mercator Lines is also planning to either set up its own subsidiary or make a suitable acquisition overseas, in which it will have at least 51 per cent stake.
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Sunil Mittal offloads personal stake in Bharti Tele
Mumbai: Sunil Bharti Mittal, chairman and group managing director of Bharti Televentures, has sold his entire personal stake in the company for a little over Rs60 crore according to a notice on the National Stock Exchange.

Mittal sold shares at an average price of over Rs220 a share of Rs10 face value. According to the price Mittal's total earnings from this deal stand at Rs60.5 crore.

Mittal sold 3,13,005 shares on March 9 and the rest on March 10. According to the notice, the personal shareholding of Mittal after the sale was nil.

According to Mittal this is only a fraction that has been sold and the promoters continue to hold around 46 per cent in Bharti TeleVentures, Mittal said.

Bharti Enterprises owns 80 per cent of Bharti Telecom, which has a 46.4 per cent stake in Bharti TeleVentures.
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Global generic drug cos make beeline for India
Mumbai: The generic drugs conference organised by ABN AMRO Bank in Mumbai, has led to global generic drug companies like Teva, Abrika, Watson, Ivax, Hospira and Pliva descending on India and scouting for various alliances, potential mergers and acquisitions (M&A).

Officials said that over 400 meetings were held between the representatives of MNCs and Indian companies and around 30 deals are said to have been signed. Nearly $45 billion of drugs expected to go off patent in the next four years.

The US and countries in Europe are moving towards increased generic drug usage due to the rising cost of healthcare. In the US, generic drug usage has gone by since 1984 after the Hatch-Waxman Act was passed. The Act proposed an increased usage of generic drugs.

India has become the center of attraction with its low cost of manufacture and the ability to manufacture the drugs.
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