The Hindu Business Line : Tuesday, September 09, 2003

US co to market JB Chemicals' Ciprofloxacin
JB Chemicals and Pharmaceuticals Ltd on Monday announced the supply, marketing and distribution of its Ciprofloxacin will be exclusively managed by Lannett Company Inc, USA, through an agreement with its joint venture partner Spectrum ... More

Correction

MERGERS & ACQUISITIONS

Herbertsons: Mallya may make counter offer
THE UB Group Chairman, Mr Vijay Mallya, is expected to make an offer for 19 per cent shares of Herbertsons purchased by Mr Kishore Chhabria from the open market, along with a bid to buy out additional 20 per cent stake in Herbertsons Ltd, the ... More

SC clears decks for Parke-Davis, Pfizer merger
AN end to the long pending controversy over the merger of Pfizer Ltd and Parke-Davis India Ltd appeared in sight with the Supreme Court on Monday dismissing the petition filed by the minority shareholders who challenged the merger. Pfizer has ... More

IFC sells part stake in Rain Calcining
CASHING in on the bullish market conditions and close on the heels of offloading its stake in various Indian companies, International Finance Corporation (IFC), Washington, has sold 26.58 lakh equity shares of Rain Calcining Ltd (RCL), the ... More

REGULATORY BODIES & RULINGS

Move to change name of ICWAI gains momentum
THE Department of Company Affairs (DCA) has sought representation from the Institute of Cost and Works Accountants of India (ICWAI), requesting it to justify the proposal for a change in the institute's name. The DCA move may be viewed in the ... More

TRADE & LABOUR UNIONS

Bajaj Auto signs new wage pact
BAJAJ Auto Ltd (BAL) today said its management has signed a new wage settlement covering permanent daily workers at its Akurdi plant with Bharatiya Kamgar Sena on Friday. The outgo on account of this settlement will be Rs 18 crore towards ... More

ALLIANCES & JOINT VENTURES

Eminent Luggages, Ricossa Marketing form joint venture
TAIWANESE company Eminent Luggages Worldwide and Ricossa Marketing in India, have entered into a 50:50 joint venture partnership to set up a manufacturing plant for the production of travel bags and accessories, a press release ... More

BONUS ANNOUNCEMENTS

P&G Hygiene announces 1:2 bonus shares
PROCTER & Gamble Hygiene and Health Care Ltd's board of directors have recommended an issue of bonus shares in the ratio of one share for every two held. The board has also recommended a dividend of Rs 20 per share for the year ended June 30, ... More

OUTLOOK

Toyota-Kirloskar to reduce production cost by 50 pc
TOYOTA-KIRLOSKAR Motor Company plans to reduce its production cost by as much as 50 per cent over a three-year time frame. Sources in the company told Business Line that a 50 per cent reduction in production cost would be carried out in ... More

Volvo India targets 15% turnover growth — Focus on being 'logistics enabler'
VOLVO India Pvt Ltd has targeted a 15 per cent growth in turnover in 2003. In the year ended December 31, 2002, the heavy commercial vehicles maker had recorded a turnover of Rs 280 crore. In 2002, the company sold 400 trucks and 180 buses. ... More

Goodlass Nerolac bets on auto, housing sectors
THE Indian paint industry, which has been maintaining an upward curve in its sales and profits, is expected to continue its growth momentum and turn in a 10-per cent growth in the current fiscal. "With the automobile sector picking up and the ... More

Taj group pins hopes on organic growth — To foray into Spa services
TAJ Hotels Resorts and Palaces of Indian Hotels Company Ltd (IHCL) has launched a major exercise to upgrade and benchmark its luxury and leisure segment hotels to go international in a big way. This is being done through "asset light ... More

Tata Tea to expand in US with Tetley — To rationalise green leaf operations
TATA Tea Ltd is expanding its US operations through the Tetley brand and is considering rationalising its green leaf activities, according to Mr R.K. Krishna Kumar, Vice-Chairman of the company. He was talking to reporters after attending the ... More

TRENDS

South strong in R&D sector — North-based cos pay little heed to marketing: Study
THE Northern region, which once recorded faster growth than the Western and the Southern regions in the pre-liberalisation period, has to catch up with the dynamics of the global market to regain its comparative importance in the national ... More

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