ANNOUNCEMENTS
Phonak kicks off Indian operations
PHONAK AG, the Swiss hearing systems company, has set up its Indian operation through Phonak AG (India) to launch its products. At a press conference to announce the launch here today, Phonak AG's Vice-President (Sales and Marketing), Mr ... More

BHEL bags turnkey contract in Uttaranchal
BHARAT Heavy Electricals Ltd (BHEL), the public sector power equipment major, has secured a turnkey substation contract in Uttaranchal, aimed at improving the power supply in the upcoming industrial area in Haridwar. Valued at nearly Rs 27 ... More

Lotus Chocolate back in black
LOTUS Chocolate Company Ltd (LCCL), which has been declared as a sick unit, is all set to stage a comeback, according to Mr D. Durga Prasad and Mr A. Rama Krishna, two Hyderabad-based entrepreneurs who acquired a controlling stake in the ... More

OPEN OFFERS
BPB Holdings to offer Rs 120 per share of India Gypsum
BPB Holdings India Pvt Ltd has agreed to offer Rs 120 per share as exit price for shares of India Gypsum Ltd. The price has been determined through the reverse book building process conducted on NSE in accordance with SEBI (Delisting of ... More

INSIGHT
How is Indian industry faring?
A sharp rise in the services share in India's GDP, coming at a time when services exports are booming, has been used to argue that the country is on a new growth trajectory in keeping with global trends. But behind these figures, argue C. P. Chand rasekhar and Jayati Ghosh, is a disconcerting trend in manufacturing growth that official figures are not revealing in full. More

SHORT TERM INSTRUMENTS

MERGERS & ACQUISITIONS
SEBI amends takeover code to smoothen debt recovery
THE Securities and Exchange Board of India (SEBI) has now stepped in to help banks and financial institutions in their efforts to tackle non-performing assets (NPAs). In what would substantially smoothen the process of recovery of bad debts, ... More

Hikal acquires 50.1 pc in Danish firm for $6 m
Marsing has a turnover of $60 million and has extensive distribution network with around 1,200 customers in 100 countries across Europe, Latin America, Africa and West Asia and warehousing facilities in Europe and Africa. More

ALLIANCES & JOINT VENTURES
Unichem ties up with Lannett of US for generic drugs
DOMESTIC pharma company Unichem Laboratories Ltd has entered into an agreement with Lannett Company Inc of the US for the exclusive supply of one or more generic drug products. Unichem will develop its formulations or finished dosage forms of ... More

SICK UNITS
IFB comes under BIFR fold
The board appointed IDBI as the operating agency (OA) to work out a rehabilitation scheme. More

OUTLOOK
Rising demand offsets cost push for Jindal Stainless
A sustained upturn in input costs is an area of concern for Jindal Stainless, but continuing robust demand would help negate its impact, as it would be able to pass on cost increases, said a senior company official. Prices of nickel, ferro ... More

HCC pins hopes on volumes to offset shrinking margins
WITH the number of players in the construction sector racing ahead of the country's infrastructure expenditure, leading to a squeeze on profit margins, domestic construction companies now face a problem. Limiting themselves to a few highly ... More

PERFORMANCE
Tata Motors sales up 21 pc in Aug
TATA Motors on Monday reported a 21-per cent increase in total vehicle sales (including export) for August 2004 to 30,113 units as compared to the previous corresponding period. According to an official statement, cumulative sales for the ... More