The Hindu Business Line : Wednesday, October 15, 2003

Ranbaxy to take human trials for prostrate drug to UK
WITH the Government yet to take a call on allowing Phase I clinical trials in India, Ranbaxy looks poised to take the human trial for its investigational new drug (IND) in the benign prostrate hyperplasia (BPH) segment out to the United Kingdom. ... More

ANNOUNCEMENTS

Costlier steel, rising yen — Maruti mulls price hike in December
MARUTI Udyog Ltd is likely to raise prices across all its models in December due to spiralling steel costs and the strengthening of the Japanese yen vis-à-vis the dollar. "We would be taking a look at our prices in December-January. Our ... More

GAIL pays Rs 227.8-cr dividend to Govt
GAIL (India) Limited on Tuesday presented a cheque of Rs 227.8 crore to Government as final dividend for the financial year 2002-03. With this, the company has paid Rs 398.63 crore as the total dividend for fiscal 2002-03, according to an ... More

BHEL bags Rs 243-cr project in Rajasthan
BHARAT Heavy Electricals Ltd (BHEL), the public sector power equipment major, is to set up a lignite-based power project at Giral in Barmer district of Rajasthan. The order for setting up the 125 MW power project, placed on BHEL by Rajasthan ... More

Serum plans 2 new vaccines
THE Pune-based Serum Institute of India Ltd (SIIL) is set to hit the domestic market with its two new vaccines, rabies and a combination vaccine of DPT and Hepatitis B. Talking to presspersons, Mr Zavaray Poonawala, Managing Director of SIIL, ... More

Fidelity sells Dr Reddy's stake

OVERSEAS BORROWINGS

Govt rules out ECB policy change for now
THE Government has decided to continue with its play-it-safe policy with regard to allowing corporates to access the External Commercial Borrowings (ECBs) window for sums beyond $50 million. A high-level committee, comprising top officials from ... More

ENVIRONMENT

TTP assurance to Kerala HC on steps to curb pollution
A DIVISION Bench of the Kerala High Court was informed by Travancore Titanium Products (TTP), the Thiruvananthapuram-based State public sector undertaking, that pollution control projects would be implemented by the company within two-and-half ... More

FINANCIAL PERFORMANCE

IHCL net rises 31.32%
IMPROVING sentiment in the hospitality sector showed in second quarter results of Indian Hotels Company Ltd (IHCL), disclosed today. IHCL reported a 31.32 per cent rise in profit after tax for the second quarter ended September 30, 2003 to Rs ... More

Hero Honda net up 12 pc in Q2
HERO Honda Motors on Tuesday said its net profit grew by 12 per cent to Rs 156.55 crore for the quarter ended September 30, 2003, from Rs 139.84 crore in the same period last year. Net sales went up marginally to Rs 1,261 crore during the ... More

Hero Honda: Volume to drive earnings
AIDED by a sharp increase in income from other sources, motorcycle major - Hero Honda has come up with an improved performance for the quarter ended September 2003. The post-tax earnings for the quarter rose 12 per cent to Rs.156.55 crore. ... More

IHCL: A good season
THE results of Indian Hotels for the second quarter ending September 2003, generally not a busy season, is indicative of a good quarter with higher occupancy rates for the hospitality industry. After SARS and Iraq war in the January-May ... More

Indo Rama net up 61%; to pay 10 pc interim
INDO Rama Synthetics (I) Ltd (IRSL) today said its net profit has increased by 61 per cent to Rs 43.60 crore during the second quarter of this fiscal against Rs 27.05 crore during the corresponding period of last year. The company also ... More

GG Auto Gears net increases to Rs 1.34 cr
GG Automotive Gears Ltd (GGAG), one of the largest suppliers of automotive and transmission gears to Indian Railways, has posted a net profit of Rs 1.34 crore for the quarter ended September 30 against Rs 30 lakh during the corresponding quarter ... More

Granules Q2 profit up

NEW PROJECTS

Skoda may make India a production base
SKODA, the Czech-based subsidiary of the German car major, Volkswagen, has taken its first steps towards making India a production base, company sources said. Skoda Auto India assembles `Octavia' cars from premises rented from Siemens in ... More

REGULATORY BODIES & RULINGS

DCA clarifies norm on managerial pay
COMPANIES that have appointed managerial personnel before January 16, 2002, can continue to pay them the desired remunerations without worrying about too many bureaucratic clearances. The Department of Company Affairs (DCA), while examining the ... More

ALLIANCES & JOINT VENTURES

Viceroy Hotel ties up with Marriott
MARRIOTT International, the New York Stock Exchange (NYSE)-listed hospitality major, has announced that its presence in India would grow in 2004 with the conversion and expansion of the 168-room Viceroy Hotel based here to the 308-room Hyderabad ... More

OUTLOOK

Willmar Schwabe India aims to boost exports
DR Willmar Schwabe India Pvt. Ltd, the domestic outfit of the German homeopath drug producing major, hopes to expand its exports to new countries during the current financial year, 2003-04. At present, the company is exporting to European, ... More

TTK Prestige pins turnaround hopes on product revamp
HAVING completed a major revamp of its product portfolio by adding new products, quality initiatives and channels of distribution, TTK Prestige, the Rs 120-crore kitchen appliances major, is now expecting to register a turnaround in its ... More

Arrow eyes Rs 100-cr turnover by 2005
ARVIND Brands Ltd expects its premium menswear brand Arrow, which is celebrating 10 years in India, to turn up with Rs 100 crore in the company's topline by 2005. The company is putting in place a series of strategic initiatives for meeting the ... More

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