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Tuesday, April 13, 2004

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Suven Life Sciences sets up scientific advisory board
SUVEN Life Sciences Ltd (SLS), the Hyderabad-based pharmaceutical company, has set up a scientific advisory board (SAB) for drug discovery research with three noted specialists - Dr Marlene L. Cohen, Dr James L. Howard and Dr Warren Stern - ... More

'Rising domestic prices' — Rane buying steel from China
THE Rane group has contracted for "a substantial quantity" of steel from China. It is also looking at some options of importing the commodity from some CIS countries. This will help the group companies to bring down the cost of steel, Rane's ... More

ONGC plans to hike paid-up equity in Videsh
OIL and Natural Gas Corporation (ONGC) has made a proposal to the Government for increasing the paid-up equity capital of ONGC Videsh from Rs 300 crore to Rs 500 crore. ONGC Videsh is a subsidiary of ONGC that invests in oil ventures abroad. ... More

Itochu Corp keen to enter more sectors in India
ITOCHU Corporation, the $89-billion Japanese trading giant, has expressed keen interest in the business of infrastructure, mining, nano-technology and life sciences in India. Its wholly-owned subsidiary, Itochu India, is already engaged in the ... More

Erkadi Systems in production pact with Esab
IN a bid to consolidate the hold over its anaesthesia equipment market, the Bangalore-based Erkadi Systems has entered into an exclusive production arrangement with the Swedish company's subsidiary, Esab India. The Sweidsh subsdiary also ... More

SAIL changes blast furnace mix to beat coal shortage
STEEL Authority of India Ltd (SAIL) has finally found a solution to the ongoing crisis created due to the shortage of imported coking coal. In an effort to reduce the over-dependence on imported coking coal and still continue with the high ... More

IOC to introduce truck-tracking facility in Mangalore
MANGALORE: Mr S. Varadachari, Chief Retail Sales Manager of Indian Oil Corporation Ltd, Karnataka State Office, Bangalore, will launch the truck-tracking facility in Mangalore division on April 14. A press release by the Senior ... More

AxSys Health plans preferential offer
AXSYS HealthTech Ltd (AHL), the Hyderabad-based developer of clinical information and telemedicine systems, proposes to make a preferential offer to foreign funds for raising funds required to market the enterprise-wide solutions it has developed ... More

Citigroup to acquire full ownership of e-Serve — Offers public Rs 800 per share
Citigroup, however, said that it might not go ahead with the offer if the final price as determined by SEBI's delisting guidelines works out to more than Rs 800. More

To consolidate promoter holdings — 2 Rane cos make open offers
TWO Rane group companies, Rane Engine Valves and Rane (Madras), have come out with open offers for buying shares from the public. The open offers are the first step in the process of consolidating the promoters' holdings in a to-be-formed company ... More

`Lack of outsourcing statistics hindering policy making'
The globalisation of knowledge work is spread over a wide spectrum of industries such as computers, semi-conductors and telecommunications, chemical engineering, textiles and food processing. More

Unit acquisition: SRF board to meet on April 20
THE board of directors of SRF Ltd is to meet on April 20 this year to consider a proposal for acquiring a polyester film manufacturing facility. The facility is a "running" plant and has a capacity of about 5,000 tonne (approx), according to a ... More

Four States shortlisted for Rs 200-cr third plant: Munjal
HERO Honda has short-listed four States for setting up its third manufacturing plant in the country. According to Mr Brijmohan Lall Munjal, Chairman, Hero Honda Motors, the four States are Tamil Nadu, Karnataka, Rajasthan, and Maharashtra, and ... More

BHEL to set up centre to make magnet machines
A CENTRE to develop permanent magnet machines (C-DPPM) is being set up at the corporate R&D division of BHEL at an investment of about Rs 2.25 crore. The initial construction activity was taken up in February, and the centre is expected to be ... More

Murugappa group, IIT-Madras pact
CHENNAI: The Murugappa Group has entered into a Memorandum of Understanding for "joint research work" with the Indian Institute of Technology, Madras. The MoU will facilitate the 18 companies of the group to work with IIT in 10 different ... More

Bharat Electronics eyes 15 pc sales growth
BHARAT Electronics has targeted a growth of 15 per cent in sales and profit for the current fiscal or turnover of over Rs 3,200 crore riding on the success of its new products, the CMD, Mr Y. Gopala Rao, has said. This would be better than the ... More

TI to pump up cycle exports
THE Chennai-based TI Cycles, resuming exports after a lull, has earned Rs 5 crore by selling over 30,000 cycles to Africa and West Asia last fiscal. A unit of the Murugappa group's Tube Investments, TI Cycles, had, in its peak, earned over Rs ... More

Hero Honda: A good driveway
THE market leader in the motorcycle segment Hero Honda Ltd has reported improved performance for the year ended March 2004. Helped by a 23-per cent increase in motorcycle sales volume, turnover increased by about 14 per cent to Rs 5,832 crore. ... More

Haldia Petro: Debt plan & profit hopes
THE net profit being eyed by the Haldia Petrochemicals Ltd (HPL) could well turn into a net loss, pegged as it is with the successful implementation of the debt recast plan. HPL which reported a Rs 508 crore net loss in 2002-03 is getting all ... More

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