CORPORATE
RESEARCH & DEVELOPMENT
Ranbaxy enters into research pact with INMAS
RANBAXY Laboratories Ltd has signed a research agreement with the Institute of Nuclear Medical and Allied Sciences (INMAS) for screening and evaluation of formulations and New Drug Delivery Systems (NDDS) using Gamma Scintigraphy. INMAS has ...
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ANNOUNCEMENTS
Geojit Financial to pay 15 pc interim
GEOJIT Financial Services Ltd, a joint venture company with the Kerala State Industrial Development Corporation, has announced an interim dividend of 15 per cent for the current financial year. After passing the accounts for the third quarter, ...
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ABB plans Rs 50-cr capex in 2004
ENGINEERING major ABB Ltd plans to spend close to Rs 50 crore as capital expenditure for the current financial year 2004 as it adds capacity and product range to fuel growing demand, the Chief Financial Officer, Mr K. Rajagopal, said. Such ...
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Kinetic Engg to launch seven Italjet scooters
KINETIC Engineering proposes to launch four scooters of Italjet design next year. The company recently acquired rights to manufacture and sell seven scooters from the stable of the Italian scooter maker, Italjet. Of the seven, Kinetic will ...
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Moving Picture to launch TV channel in Delhi
MOVING Picture Company is planning to launch a satellite channel in New Delhi shortly and has applied for uplinking. Ms Uma Gajapathi Raju, Vice-President, said that the channel, to be called Dilli Channel, would focus on political, social and ...
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Samsung India to take up CTV designing
IN order to customise products to meet the tastes and requirements of the Indian consumer, Samsung India's research and development (R&D) centre is set to take up colour television (CTV) design later this year. "We will be investing about $5 ...
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Dozco ties up with Daewoo to distribute excavators
DAEWOO Heavy Industries and Machinery Ltd, the Korean heavy earth moving equipment major, has entered into a marketing and distribution arrangement with Dozco India (P) Ltd, for selling its excavators. Dozco, an importer and distributor of ...
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Meat Products to expand operations
THE State-owned Meat Products of India Ltd (MPI), eying the export market, is modernising its plant at nearby Koothattukulam apart from launching organic meat products. Modernisation of the plant would be completed in three months at a cost of ...
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Balkrishna Ind to pay 35 pc interim dividend
Windshield branch in Chennai
ACCOUNTANCY
ICWAI bid to stall Govt move to increase its hold
SECTIONS of the cost accounting fraternity, members of Institute of Cost and Works Accountants of India, have started approaching select Members of Parliament in their bid to stall the Government's plan to increase its hold on the institute. The ...
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Left MP updated on ICWAI viability
A LETTER sent to Mr Nilotpal Basu, MP, suggesting that ICWAI has been steadily losing students because of infighting within its council and that Government restriction on expenditure has actually helped the institute, has surfaced in cost ...
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MANPOWER
FACT removes ceiling on VRS compensation
FERTILISERS and Chemicals Travancore Ltd (FACT), in a bid to lure more of its workers for voluntary retirement, has removed the ceiling of Rs 5 lakh towards compensation and allowed the employees to choose one of two proposals originally offered ...
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NEW PROJECTS
Elder Pharma to set up more units — Plans foray into `cosmoceuticals'
IT will be a big act this year for integrated healthcare company Elder Pharmaceuticals Ltd (EPL) as it sets out to establish more manufacturing facilities, get active in the export market and foray into categories like `cosmoceuticals.' And ...
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REGULATORY BODIES & RULINGS
Some say `fairness opinion' on share valuation unfair
A SECTION of corporate India is against any regulatory move that would mandate a `fairness opinion' on the share valuation made by a valuer in relation to amalgamations, acquisitions, mergers/demergers or buyback. This stance comes even as the ...
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ALLIANCES & JOINT VENTURES
Hafele India in distribution pact with Blum
HAFELE India, a wholly owned subsidiary of Hafele Gmbh - a global supplier of furniture fittings and architectural door hardware - today announced a strategic distribution alliance with Blum, a manufacturer and supplier of kitchen ...
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INTERVIEW
`Budget proposals will not help big tea cos'
JAY Shree Tea & Industries Ltd, a B.K. Birla Group company, is a diversified tea company. The 59-year old company started off with one tea estate but currently owns 17 gardens with almost 8,000 hectares of cultivable land and producing nearly 14
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VENTURE CAPITAL
ICICI Venture fund invests Rs 20 cr in Arch Commerz
ICICI Venture has announced that it has concluded its first mezzanine investment from its Rs 750-crore India Advantage Fund by investing Rs 19.7 crore in Arch Commerz, a pharmaceutical intermediates company that was recently reverse-merged into ...
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RIGHTS ISSUE
Gujarat NRE board to consider rights issue
OUTLOOK
LG targets sales of 4 lakh ACs
CONSUMER electronics and durables major LG Electronics India Pvt Ltd (LGEIL) is targeting a sales of four lakh units of air-conditioners (ACs) in 2004, amounting to a turnover of Rs 850 crore, on the back of encouraging growth in the previous ...
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Divi's Labs estimates 2004-05 income at Rs 400 cr
PERFORMANCE
Stronger euro impacts DaimlerChrysler profits
APPRECIATION of the euro has hit the Indian operations of DaimlerChrysler with its profits during 2003 dipping 11 per cent. The reduction in profits has resulted in the company not passing on the full benefit of Customs duty cuts to ...
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