document.writeln("

TCS sets up research lab in Delhi
New Delhi: Tata Consultancy Services' (TCS) fourth research lab in the country has come up in Delhi. The other iLab (Innovative Lab) as it is called — is its fourth such centre after Pune, Hyderabad and Bangalore

The lab will focus on emerging technologies like grid computing, collaborative software development to meet the current and future business needs of its customers.

The lab will have 10 scientists to start with and will scale up to 20 in few years. The total R&D strength of TCS is under 300 professionals.

iLab will focus on delivering value through scalable and secure platforms based on new enterprise technology components developed by TCS and partners in emerging 'disruptive' technologies such as grid computing, service-oriented collaborative software development.
Back to News Review index page  

BHEL turnover crosses Rs10,000 cr; net profit at Rs953 cr in 2004-05
New Delhi: Power equipment major Bharat Heavy Electricals BHEL) has announced a dividend of 80 per cent as it posted a net profit of Rs953 crore during 2004-05, registering a growth of 45 per cent over the previous fiscal.

The PSU declared an all-time high turnover of Rs10,336 crore in 2004-05.

Significantly, BHEL also recorded a surge in Economic Value Addition (EVA), which catapulted to Rs504 crore from Rs366 crore in the year before.

BHEL secured the highest-ever orders worth Rs18,230 crore in a single year, despite operating under intense competitive pressure in domestic and international markets.

With an all-time high order book of over Rs32,000 crore, at the close of the financial year, the company expects to achieve healthy top and bottom line growth in 2005-06 and beyond.
Back to News Review index page  

Havell's India to merge Crabtree with itself
Chennai: Havell's India is looking at merging its wholly owned subsidiary, Crabtree India, with itself.

The merger would result in adding per cent to Havell's topline. Havell's India declared a turnover of Rs665 crore last year while Crabtree India's turnover was close to Rs65 crore.

Crabtree India manufactures electrical fittings — circuit breakers, modular switches, wiring accessories, and bathroom fittings.
According to company officials Havell's expected its turnover to increase to Rs1,000 crore this year. The company is also said to be looking at acquisitions.
Back to News Review index page  

Yamaha Motor to set up wholly -owned sales, marketing and after sales subsidiary
Mumbai: Yamaha India is setting up a wholly owned subsidiary that will deal with sales, marketing and after sales service only.

The new company, expected to start operations from October 1, would be led by T Maeda, director (marketing) and Atul Gupta, head (sales and marketing).
Back to News Review index page  

HP prices new notebook at Rs41,990
Bangalore: Hewlett-Packard India has launched the commercial notebook HP Compaq nx6125 notebook priced at Rs41,990, the notebook is powered by AMD Turion 64 Mobile Technology.

The notebook also comes with enhanced security features that include a biometric fingerprint sensor which allows fingerprint access to the notebook to prevent unauthorised access to data, HP said in a statement.

The model also features HP's panel protection system, an in-mold lamination for abrasion and scratch-resistance and a spill-resistant keyboard. The notebook is also being offered with a one-year international travel warranty.
Back to News Review index page  

Infosys to revise forecast as Re falls
Singapore: The falling Rupee against the dollar may lead to Infosys Technologies revising this year's profit and sales forecasts.

Infosys's revenue increases from the decline of the Indian rupee against the dollar as the company earns more than 60 per cent of its sales from the US. The rupee has shed 1.2 per cent since June 30, the biggest quarterly decline in the past twelve months.

Infosys shares intra-day rose Rs64.20 to Rs2,534 on the Mumbai stock exchange. It closed higher by Rs57.80 at Rs2,527.60.
Back to News Review index page  

Gail Q2 subsidy bill drops to Rs 167cr
Gail India has reported a decline in subsidy sharing to Rs167 crore for the second quarter of 2005-06 against Rs274 crore during the second quarter in the last fiscal.

According to Gail 71 per cent of the total Rs167 crore subsidy bill is on account of PDS kerosene.
Back to News Review index page  

AV Birla group increases stake in Idea
Mumbai: The Aditya Birla group's stake in mobile operator, Idea Cellular has gone up after its group company, Indian Rayon, picked up 16.45 per cent equity from US telecom company Cingular Wireless for $150m.

With this transaction Indian Rayon's shareholding in Idea has gone up to 20.74 per cent and that of the Aditya Birla group to 50.15 per cent. The Tatas are also expected to complete the formalities for picking up the balance stake in Cingular soon.

Apart from Indian Rayon, three other Birla group companies Hindalco, Birla TMT and Grasim hold significant stakes in Idea. Birla TMT holds 11.74 per cent in Idea, Hindalco holds 10.11 per cent and Grasim holds about 7.57 per cent. Apart from the Birlas and Tata, AIG Mauritius also holds about 1.70 per cent stake in Idea Cellular.
Back to News Review index page  

Indian cabinet clears Airbus purchase deal
New Delhi: The Indian cabinet has cleared the $2.2-billion deal with Europe's Airbus Industrie, under which Indian Airlines (IA), will acquire 43 aircraft to expand its fleet.

The Indian Airlines board had agreed on the acquisition of 20 Airbus A-319s, 19 A-321s and four A-320s more than two years ago. But a final decision had been delayed by required clearances from several layers of the government

With this approval, Indian Airlines would now be formally asked by the government to place the orders with the Airbus Industrie.

As per the tentative delivery schedule, the first aircraft will join the fleet in the second half of next year and the remaining 42 will be inducted at an average rate of one plane per month.

Apart from a price discount, Airbus has offered several other concessions and advantages in the deal.

These include the establishment of an ultra-modern training center for pilots to fly Airbus family of aircraft at a cost of around 75 million dollars, an MRO (maintenance, repair and overhaul) facility at a cost of $100 million and a counter-trade offer worth about $145 million.

The Airbus Industrie also assured the government in writing that it would establish spare part warehouses in India, not only for the Indian Airlines but for other carriers as well.

The Indian government would also get an integrity clause - a guarantee for a clean and transparent deal, and the most favored clause incorporated in the agreement.
Back to News Review index page  

Ranbaxy gets USFDA approval to market Pseudoephedrine
Mumbai: The US Food and Drug Administration has granted approval to Ranbaxy Laboratories to manufacture and market Pseudoephedrine Hydrochloride extended-release tablets 120 mg USP.

The Office of generic Drugs, USFDA, has found the company's formulation to be bio-equivalent, having the same therapeutic effect as that of reference listed drug Sudafed 12 hour extended- release tablets, 120 mg of Warner Lambert Co according to the company.

Pseudoephedrine helps in temporarily relieving nasal congestion caused due to common cold and associated with sinusitis, hay fever and other respiratory allergies.
Back to News Review index page  

Essar to invest $1.2 billion in Trinidad steel plant
Port-of-Spain: Essar Steel plans to invest $1.2 billion in a steel plant expected to be commissioned by end 2007 in Trinidad and Tobago.

According to the newly- appointed to the island nation Indian High Commissioner, Jagjit Singh Sapra that the first phase of the mega project would be be commissioned by the end of 2007.
Back to News Review index page  

Hughes India announces setting up of third IDC
Mumbai: Hughes India has announced that it has set-up its third Internet Data Centre (IDC) in India at Andheri, Mumbai. The center will offer services like hosting, co-location, internet, mailing and spam prot ection to customers and will be the company's third domestic Internet gateway in India.

Hughes is the only VSAT and Terrestrial VPN Service Provider which has three data centres in separate Seismic regions (Bangalore, Gurgaon and Mumbai) in India giving greater flexibility and high uptime and availability of data to our customers according to company officials.

The company has signed up Lupin Pharma as its first customer for its Data Centre in Mumbai.
Back to News Review index page  

Dr Reddy's in deal with Danish co for diabetes drug
Hyderabad: Dr Reddy's Laboratories has entered into a co-development and commercialisation agreement with the Denmark-based Rheoscience A/S for joint development and commercialisation of Balaglitazone (DRF-2593), a molecule for the treatment of type-2 diabetes.

Rheoscience will fund all costs associated with the phase-III clinical trials of DRF-2593 and Dr Reddy's will pay Rheoscience a pre-determined amount towards its share of the development costs.

Rheoscience will retain marketing rights in the European Union and China, while Dr Reddy's will have the rights for the US and rest of the world.

Rheoscience has to obtain all necessary regulatory approvals on behalf of Dr Reddy's in the US.

On receiving final approval from the USFDA, Dr Reddy's will make a pre-determined payment to Rheoscience.

Dr Reddy's said the agreement would be valid for 10 years from the date of commercialisation.
Back to News Review index page  

Tyre maker Balkrishna Industries to invest Rs300 crore in expansion plans
Mumbai: Tyre manufacturer, Balkrishna Industries plans to invest Rs 300 crore for its expansion plans and increase its FII limit to 49 per cent.

The expansion plans include increasing tyre manufacturing capacities at Bhiwadi, Waluj and Chopanki plants to one lakh tonnes per annum (tpa) as against 60,000 tpa at present and doubling of radial tractor tyre capacity. The plans are likely to be completed in phases by March 31, 2007.

The company will raise $50 million through the issue of Foreign Currency Convertible Bonds (FCCB), equity shares, Global Depository Receipts (GDR) or other convertible securities, subject to shareholder approval.

The board also gave its consent for increasing the FII limit of the company to 49 per cent from 24 per cent and for increasing its authorised share capital to Rs 25 crore from Rs 20 crore, it said.
Back to News Review index page  

JB Chem receives USFDA nod for Fluconazole tabs
Mumbai: JB Chemicals & Pharmaceuticals has received an approval from the US Food and Drug Administration to manufacture and market its anti-fungal drug, Fluconazole, in the US market.

Fluconazole is generally indicated towards treatment of vaginal candidiasis, oropharyngeal and oesophageal candidiasis, cryptococcal meningitis.

The drug is also used in prophylactic treatment of patients who have undergone bone marrow transplantation, t o decrease incidences of candidiasis. The drug has a market size of $610 million in the US, the company informed the Bombay Stock Exchange.
Back to News Review index page  

SatNav Tech to tap West Asian markets
Hyderabad: SatNav Technologies, a Hyderabad-based IT products company has tied up with Saudi Arab-based Al-Moayed and UAE-based Al-Daleel to markets its Computer Aided Facility Management (CAFM) product, a-mantra, in the Middle East market, according to a company release.
Back to News Review index page