The Hindu Business Line : Friday, March 25, 2005

Dr Reddy's launches osteoarthritis drug
DR Reddy's Laboratories Ltd has launched Celadrin in the Indian market through an alliance with the US-based Cymbiotics Inc. The drug helps reduce pain and inflammation in patients with osteoarthritis and other joint related problems. The ... More

Tata Steel to hike prices for long-term contracts
TATA Steel would be increasing the price of steel for long-term contracts by 20 per cent from April, Mr B. Muthuraman, Managing Director, said on the sidelines of the company's EGM here today. This would translate into a price rise of roughly ... More

Dr Reddy's welcomes Patents Bill
In a statement, its Managing Director and Chief Operating Officer, Mr Satish Reddy, said, "We are glad that India has met the TRIPS commitments. The amendments will encourage innovation in the pharmaceutical industry by ensuring that they are ... More

Denison AGM put off

CREDIT RATING

S&P awards `BBB' local currency rating for Tata Steel
INTERNATIONAL credit rating agency Standard & Poor's (S&P) has today assigned Tata Steel `BBB' local currency (corporate) rating and `BB+' foreign currency rating with stable outlook. The `BBB' fundamental rating for Tata Steel is two notche More

HUMAN RESOURCES

Going up the ladder after `hard' Indian stint
AN Indian posting is increasingly proving to be the global launch pad for executives in the senior and middle management of multinational companies. The recent months have seen a number of top moves by heads of MNCs operating in India across ... More

MERGERS & ACQUISITIONS

CLC merges with Spentex
CLC Global Ltd has been merged with Spentex Industries Ltd and the new company will henceforth be known as Spentex Industries Ltd. They are into the manufacture of yarn. Following the merger and on transfer of the assets liabilities from CLC ... More

IISCO-SAIL merger by Dec, says Paswan
THE Government expects the merger of Indian Iron and Steel Company (IISCO) with Steel Authority of India Ltd by December. This was stated by the Minister for Steel, Chemicals and Fertilisers, Mr Ram Vilas Paswan, in the Lok Sabha on Thursday. He ... More

Carborundum to rejig holdings in subsidiaries
CARBORUNDUM Universal has announced a restructuring of holdings in its subsidiaries, so that the company holds shares in Laserwords Pvt Ltd directly rather than through Webword Holdings & Management Pvt Ltd. At present, Carborundum holds ... More

CORPORATE GOVERNANCE

Clause 49 deferment: India Inc relieved, but worried over duplication of laws
"The deferment will definitely help industry implement Clause 49 in a more structured and cost effective manner." More

NEW PROJECTS

Reliance Life sets up cord blood archive
NO, this isn't culled out of a Hollywood movie. True, it reads like fiction, but it is all fact, backed by scientific data. Blood taken out of the umbilical cord of a newborn, with the consent of the mother, finds its way into a cryogenic ... More

Grundfos' new plant goes on stream; eyes Rs 75-crore turnover
GRUNDFOS Pumps India Pvt Ltd, a subsidiary of Grundfos of Denmark, has just completed building its factory in Chennai, at a cost of Rs 16 crore. The company aims to achieve a turnover of Rs 75 crore, 50 per cent more than the 2004 sales of Rs 50 ... More

Hiranandani Developers to foray into Dubai
HIRANANDANI Developers is foraying into Dubai by teaming up with ETA Star to build a 90-storey edifice — 23 Marina. The joint venture Hircon LLC will build the 380-metre high tower, according to local media reports. "The ETA-ASCON ... More

Vishal plans 82.5-MW wind farm project
VISHAL Exports Overseas Ltd plans to set-up an 82.5-MW wind farm project with an investment of Rs 450 crore. The company has implemented 20-MW wind power projects in Tamil Nadu and Rajasthan. A 13.5-MW wind farm project in Tamil Nadu with an ... More

ALLIANCES & JOINT VENTURES

GAIL ties up with BPCL to supply CNG
GAIL (India) Ltd has formed a joint venture company with Bharat Petroleum Corp Ltd (BPCL) for launching compressed natural gas (CNG) in Kanpur. Central UP Gas Ltd, the joint venture company, would distribute CNG for automobiles and piped natural ... More

GTI Ventures to commercialise TERI technologies
THE Energy and Resources Institute (TERI) on Thursday announced a partnership with GTI Ventures LLC, USA. This venture will be a collaborative approach to focus on commercialisation of TERI technologies. It will focus on the research in ... More

SOCIETY & DEVELOPMENT

All for a cause
Sadya, an annual fund-raiser for a Chennai-based school for children with special needs, is an occasion for corporates to hone their skills and have a go at adventure games as well. More

IPOS

Shringar Cinemas may end fiscal in red
SHRINGAR Cinemas Ltd, which is entering the capital market to raise funds, is expected to end the current fiscal negatively on the bottomline. But a return to profits is possible in the next fiscal as its investments in the area of exhibition ... More

OUTLOOK

Numaligarh Refineries may ship high-speed diesel by barges soon
IF everything proceeds according to schedule, Numaligarh Refineries Ltd (NRL) in Assam will send by barges its first consignment of high-speed diesel in the middle of next month for discharge at Budge Budge in West Bengal. It is estimated that ... More

Toyota Kirloskar eyes 15 pc market share by 2015
TOYOTA Kirloskar Motor Pvt Ltd expects to be able to capture 15 per cent of the Indian car market by 2015. The company expects the Indian car market to have grown to 4 million by the year and accordingly, Toyota sees its production going up to 6 ... More

Garden Hygienic bullish on Bangalore market
A MUMBAI-based snack food company, Garden Hygienic Snacks Pvt Ltd, with its assortment of snacks marketed in the two western Indian States - Maharashtra and Gujarat — and northern region, hopes to garner a sizeable market share in ... More

STC inks pact with Commerce Ministry
STATE Trading Corporation of India Ltd (STC) has signed a MoU with the Commerce Ministry for 2005-06 to indicate its physical targets and other performance parameters for the next fiscal. The Chairman and Managing Director of STC, Dr Arvind ... More

Radico Khaitan to look for acquisitions at `right price'
RADICO Khaitan Ltd, which has emerged as the second largest Indian Made Foreign Liquor (IMFL) player after the UB Group gulped down Shaw Wallace & Co (SWC) earlier this week, will take the acquisition route if opportunities come at the "right .. More

Lladro hopes to rake in Rs 50 cr in India
SPANISH figurines major Lladro hopes to generate a turnover of Rs 50 crore from the Indian market in the calendar year 2005. In 2004, the company, through its sole distributor for India, Spa Agencies (India) Pvt Ltd, generated a turnover of Rs 20 ... More