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Thursday, April 29, 2004

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Ranbaxy in tripartite pact for new drug discovery
RANBAXY Laboratories Ltd has entered into collaboration with National Institute of Pharmaceutical Education and Research (NIPER), Mohali and Department of Science & Technology (DST), for research in new drug discovery. Ranbaxy and NIPER had ... More

DaimlerChrysler in talks with oil cos on biofuel
DAIMLERCHRYSLER India is taking its biofuel project further and is in talks with some oil giants. According to Mr Hans Michael Huber, CEO and Managing Director, DaimlerChrysler, the fuel has to be economically tested as prices issues are ... More

Vishal Exports shifts focus to precious metals
FOLLOWING the adverse implications of European Union restrictions on exports of Indian frozen foods, Ahmedabad-based Vishal Exports Ltd (VEL) has consciously reduced its exposure to frozen foods and shifted its focus towards precious metals. As ... More

Hyundai Tucson may hit India in July
AFTER the muted success of the Terracan - the full-sized, luxury sports utility vehicle (SUV), Hyundai Motor India is now set to spring a surprise in the lower priced compact SUV segment with the planned launch of the Hyundai Tucson in July ... More

TNPL resumes production
TAMIL Nadu Newsprint and Papers Ltd resumed production from Saturday after suspending operations for nearly three weeks due to water shortage. The company had informed the stock exchange that production commenced on Paper Machine 2. The other ... More

Binny allots shares following BIFR orders
BINNY Ltd has allotted 2.23 crore shares of Rs 5 each fully paid up and 11.75 lakh fully paid up cumulative redeemable preference shares of Rs 5 each to its shareholders. This follows the orders issued by the BIFR on October 22, 2003, and March ... More

UTI, IMC announce governance award
UNIT Trust of India and Indian Merchants' Chambers have announced a governance award with an Rs 1 crore corpus. "We will be collaborating to give out governance award. We are just tying up the last few strings now," said Mr M. Damodaran, ... More

Natural rubber imports
Bombay HC scraps Ceat petition on port curbs

IN a setback of sorts for the domestic tyre industry, the Bombay High Court has dismissed the writ petition filed by Ceat Ltd seeking the removal of mandatory port restrictions imposed by the Union Government on imports of natural rubber. The ... More

IOC board clears IBP merger plan — Mulls setting up exploration co
INDIAN Oil Corporation Ltd (IOC), the State-owned petroleum refining and marketing major, plans to merge with itself its subsidiary, IBP Ltd, and also set up a new exploration company with a war chest of $2 billion. The IOC board met here on ... More

Indian Oil-IBP proposal: Smart timing of an inevitable merger
"WE are not saying that we will keep it separate but there are certainly no plans for an immediate merger. As of now there are no proposals on the table but the possibility in the long run cannot be ruled out." Mr M.S. Ramachandran, Chairman ... More

Grasim's capex plan at Rs 534 cr
GRASIM'S capital expenditure plan for the next couple of years has been set at Rs 534 crore, with its capex for the current fiscal at Rs 410 crore. In the current year, the allocation of capex would see the cement division getting Rs 159 crore. ... More

Pfizer studying launch of Pharmacia products
"LIFE is not about growing up or growing old. It's about making sure you never stop growing," is a quote that catches your eye as you browse through pages of financial information in an annual report from Pfizer. Apt for a pharma multinational, ... More

Birla Corpn to close yarn unit
THE board of directors of Birla Corporation, an MP Birla Group outfit, on Wednesday decided to close synthetic yarn unit at Birlapur near here, and dispose of the assets, including the plant. The work at the unit was suspended on November 2, ... More

ABB: Portfolio balancing pays off
ABB recorded an impressive performance for the first quarter of 2004. The revenue growth and the order booking was the highest over the past five years. The consistent performance can be attributed to ABB's effort in balancing its portfolio ... More

Indo Gulf Fertilisers — A long-term bet
BOTH the sales and profit performance of Indo Gulf Fertilisers for 2003-04 are distorted by the receipts of subsidy arrears pertaining to earlier years. Shorn of these receipts, Indo Gulf `s financial performance for the year is modest; but ... More

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Ministry can encash bank guarantees of FM radio cos: Bombay HC

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Looking back
Apr. 18-Apr. 24
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