The Hindu Business Line : Sunday, June 26, 2005

Tentative USFDA nod for Aurobindo's 3rd AIDS drug
AUROBINDO Pharma Ltd (APL) has obtained the tentative approval of the United States Food and Drug Administration (USFDA) for another anti-AIDS drug Efavirenz, the generic version of Sustiva tablets, manufactured by Bristol-Myers Squibb. This ... More

CORPORATE DISPUTES

`Lodha appointed Birla Corp Chairman'
A LITTLE less than a year after the demise of Priyamvada Birla, Mr Rajendra Singh Lodha has been appointed chairman of the Rs 1,360-crore Birla Corporation Ltd, the flagship company of the MP Birla Group. The development came to light when the ... More

INSIGHT

Nurturing of subsidiaries paying off for companies
CREATION of subsidiaries is often viewed by the stock markets with skepticism given the implications for lower standards of corporate governance. But subsidiaries seem to be delivering the goods for India Inc. Subsidiaries are now growing in ... More

COURTS/LEGAL ISSUES

Priyamvada case: Calcutta HC allows substitution of four
MR Justice Kalyan Jyoti Sengupta of the Calcutta High Court on Friday allowed the application of Mr Arbind Newar, Mr N.G. Khaitan, Mr D.K. Mantri and Mr Ajoy Newar for substituting them in place of Ms Laxmi Devi Newar, who died testate on May 23, ... More

Of electric fences & currency crabs
TAX journals usually gather dust in many a professional's office, and it is not uncommon to find many issues of these stacked up in a wrapped state, just the way they were delivered by the postman months ago. For the curious, however, there are ... More

RESTRUCTURING

Hewitt merges two group cos with itself
IN a restructuring of Indian operations, human resource management consultancy Hewitt Associates India Pvt Ltd has merged within itself two group companies — Cyborg Systems India and Hewitt International Services. Cyborg provides ... More

FIXED DEPOSITS

Madras Cements: Invest
Madras Cements: An investment may be contemplated in the fixed deposit programme of Madras Cements; the one- and three-year options may be considered. It may be better to opt for the three-year option than the two-year fixed ... More

MERGERS & ACQUISITIONS

Bharat Forge buys Federal Forge
BHARAT Forge Ltd, the flagship company of the $1.25-billion Kalyani Group, has announced the acquisition of Federal Forge Inc of the US, through its wholly owned subsidiary, Bharat Forge America Inc. Federal Forge is engaged in the design and ... More

Sumitomo to pick up 15% Swaraj Mazda stake from Punjab Tractors
THE Japan-based Sumitomo Corporation is set to emerge as the single largest shareholder in light commercial vehicles manufacturer Swaraj Mazda Ltd (SML), following a decision by the board of directors of Punjab Tractors Ltd (PTL) to sell 15 per ... More

NEW PROJECTS

Hindustan Zinc kicks off expansion project in Rajasthan
THE integrated zinc producer, Hindustan Zinc Ltd (HZL), has started the commercial production of its 1,70,000-tonnes-per-annum (tpa) expansion project at Chanderiya in Rajasthan. This increases the company's total capacity to 4,00,000 tpa, a ... More

RIGHTS ISSUE

TV18 move to raise funds
THE board of TV18 today announced that it would consider a proposal to advance the date of outstanding warrants issued by way of a rights issue in November 2004 to fund its new news channels. The company expects to raise around Rs 55 crore ... More

BONUS ANNOUNCEMENTS

Pioneer to grant 1:2 equity share
MUMBAI: Pioneer Embroideries Ltd has informed the Bombay Stock Exchange that the company's board of directors, at a meeting held on June 24, approved the grant of one fully paid-up equity share as bonus share for every two shares held by ... More

OUTLOOK

HLL's growth will be category-led, says Manwani
MR Harish Manwani, Chairman, Hindustan Lever Ltd (HLL), wants to inject some of the lost aura back into the company. "In a resurgent India, HLL must give thought leadership. That is my vision," he told newspersons during an informal chat here ... More

PERFORMANCE

Mangalam Timber to revoke move on share capital reduction
SPEEDY revival of the ailing Orissa-based Mangalam Timber Products Ltd has prompted the company management to revoke its earlier decision of share capital reduction. At its meeting on June 29, the board of directors would be considering to pass ... More

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