The Hindu Business Line : Saturday, September 13, 2003

No plans to exit sugar biz: JK group
"Hiving off the sugar division into a new company opens up new opportunities which can involve induction of strategic investors. But, as of now, there are no proposals before us on these lines." More

Aurobindo keen on filing more new drug applications
AUROBINDO Pharma Ltd (APL), the Hyderabad-based Rs 1,190-crore drug major that has implemented a restructuring programme for its manufacturing facilities involving over Rs 400-crore investments during the last couple of years, is bullish on ... More

Apollo named `Superbrand' in healthcare
APOLLO Hospitals, the country's largest healthcare services provider, has announced that it was recognised as a `Superbrand of India' in the healthcare sector for the year 2003. In a press release here on Friday, the hospital said its brand was ... More

Ranbaxy gets FDA nod for diabetes drug
RANBAXY Laboratories Ltd has received approval from the United States Food and Drug Administration to manufacture and commercialise Metformin HCI oral solution 100 milligram per millilitre. Ranbaxy Pharmaceuticals Inc, a wholly owned ... More

Toyota seeks FIPB nod to make engines in India
TOYOTA Kirloskar is planning to commence the assembling of its engines in India and has already made an application for the same to the Foreign Investment Promotion Board (FIPB). "We have very recently made an application to the FIPB to gain ... More

COURTS/LEGAL ISSUES

Jessop sale: HC adjourns case till Nov 14
MR Justice Pronab Kumar Chattopadhyay on Friday adjourned the case of Titagarh Wagon Ltd, which challenged the confirmation of sale of Central Government's stake in Jessop & Co Ltd till November 14. Titagarh Wagon filed a proceeding in the High ... More

MANPOWER

Bajaj Auto plans another VRS
WE want to bring down our employees level from 17,000 to 10,000 by March 2004." This was a statement made by Mr Rahul Bajaj, Chairman and Managing Director, Bajaj Auto Ltd, three years ago. The company seems to be well poised to achieve the ... More

MERGERS & ACQUISITIONS

Escorts group cos make open offer for EFL stake
TWO Escorts group companies have made an open offer to acquire up to 80,50,000 equity shares of Escorts Finance Ltd (EFL) at Rs 10. The offer closes on September 20. According to an official statement, the shares are being acquired by Escorts ... More

NEW PROJECTS

NLC starts work on expansion projects
NEYVELI Lignite Corporation Ltd (NLC), a Government of India enterprise, has initiated `advance action' on several expansion projects in the mining and power sectors even while waiting for a formal clearance from the Union Government. ... More

ALLIANCES & JOINT VENTURES

NLDK Timbers ties up with Danish co
NLDK Timbers Ltd, a New Delhi-based trader of wood products, has tied up with Junckers Industries of Denmark, the largest manufacturer of hardwood floors in the Europe, to offer the company's products in India. "Junckers is the household name ... More

IPOS

B.A.G Films IPO oversubscribed six times
The company was offering 1,48,60,000 equity shares of Rs 2 each for a premium of Rs 8 per chare aggregating to Rs 14.86 crore. According to a company release, over 22,000 applications have been received for more than 850 lakh equity shares of ... More

OUTLOOK

JK Ind plans to expand global presence, capacity — Aims Rs 5,000-crore turnover
Currently, JK Industries has a tie up with a company in China which manufacturers tyres for JK Industries and sells them in the domestic market. JK Industries wants to duplicate the model in other countries too. More

Jain Irrigation targets 40 pc rise in turnover
During the current fiscal, JISL's focus will largely rest on its micro-irrigation and tissue culture businesses and overall exports. In its micro-irrigation initiative, JISL is banking on the Rs 1,200-crore Andhra Pradesh Government project on drip i rrigation. More

PEOPLE

Nedungadi quits Madura Garments
THE A V Birla Group managed Madura Garments will see a change of guard at the top with Mr Prakash Nedungadi quitting the post of President. Mr Nedungadi steered the domestic branded apparel major for three years following its acquisition by A V ... More

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