The Hindu Business Line : Tuesday, May 01, 2007

Dr Reddy's launches oncology drug
Dr Reddy's Laboratories Ltd on Monday launched Redituxa, its brand of rituximab, a monoclonal antibody (MAb) used in the treatment of Non-Hodgkin's Lymphoma (NHL). The drug was launched in the presence of over 100 oncologists, ... More

PREFERENTIAL ALLOTMENTS
QIP route: SEBI sets norm of minimum 1 year listing
IPO grading compulsory from May 1 More

New norms for foreign investment in pref shares
The Finance Ministry said on Monday that fully convertible preference shares issued to foreign investors by Indian companies would henceforth be treated as part of share capital and would be counted for calculating the foreign equity limits ... More

Tata Power board approves issue of equity shares, warrants
Tata Power Company said its board has approved issue of equity shares and warrants to its chief promoters Tata Sons. The promoter group currently owns 32.25 per cent stake in Tata Power, as on March 31, 2007. Tata Sons' equity stake was 28.74 ... More

CONSULTING
Cairn India sets up advisory board
Cairn India Ltd has set up an advisory board to provide advice and direction to the management of the company on matters pertaining to stakeholder relations and corporate social responsibility activities at project and corporate ... More

RESTRUCTURING
Asian Hotels board okays demerger
Trifurcation leads to creation of 2 new firms More

MERGERS & ACQUISITIONS
Ashok Leyland buys US firm for Rs 70 cr
Ashok Leyland Ltd on Monday said that it had signed a share purchase agreement to acquire 100 per cent of the paid-up capital of Defiance Testing and Engineering Services Inc (DTE) based near Detroit, Michigan, in the US, for a consideration of ... More

Sakthi Auto buys Intermet Europe for Rs 533 crore
Auto component co has production capacity of 165,000 t More

NEW PROJECTS
TVS Motor facility opened in HP
TVS Motor Company has opened its manufacturing facility in Solan, Himachal Pradesh with an investment of Rs 120 crore. The production capacity of the plant is 4 lakh motorcycles per annum that can be scaled up to 6 lakh units ... More

OVERSEAS INVESTMENTS
Godrej Lifespace expanding overseas
Godrej Lifespace, the retail arm of Godrej & Boyce Manufacturing in home and office improvement space, is looking at expanding its presence to West Asia, Sri Lanka, Nepal and other neighbouring countries in the next two to three ... More

JSW to invest $1 b in US steel unit
5-m tonne rolling facility More

TRADE & LABOUR UNIONS
Hind Motors' union on hunger strike from today
Members seek Govt intervention to resolve industrial issues More

ALLIANCES & JOINT VENTURES
Gujarat Heavy Chem plans tie-up with US co
Its expansion with an investment of Rs 300 crore being complete, the Sanjay Dalmia company for chemical and industrial raw materials Gujarat Heavy Chemicals Ltd (GHCL) is now poised to make 1.15 million tonne per annum (MTPA) of soda ash ... More

Union Power Ministry okays NTPC-TELK joint venture
Formal order expected in a fortnight More

STANDARDS & BENCHMARKS
ISO tag for BHEL R&D division
The ISO 9001:2000 certification was awarded to BHEL's Corporate R&D Division, Hyderabad, by the Bureau Veritas Certification (India). The certificate was formally presented to Mr S.K. Goyal, Executive Director of Corporate R& More

OUTLOOK
Japan's Kobelco makes its entry with excavators
Evaluating manufacturing base More

United Spirits expects higher sales
United Spirits Ltd (USL) expects sale of its brands in eastern India to reach 10 million cases in the next two years from the current 7.5 million cases, according to Mr Kaushik Chatterjee, Chief Operating Officer, RPC - East, ... More

BHEL targets $10-b income
BHEL has set a target of increasing revenues to $10 billion from $4 billion as part of its `Strategic Plan 2012.' The company has identified overseas business as one of its thrust areas in the plan, which is expected to be a key ... More

PERFORMANCE
Better growth, but not without trouble spots
After closing 2006 with a disappointing show in the final quarter, Hindustan Lever has reported improved earnings numbers in the first quarter of 2007, with strong topline growth and a higher pace of profit growth. But despite the improvement ... More

PEOPLE
P.K. Bishnoi takes over as RINL CMD
Mr P.K Bishnoi, Director (Finance) of Rashtriya Ispat Nigam Ltd (RINL), elevated as Chairman and Managing Director, assumed charge on Monday. Mr Bishnoi graduated from the Indian School of Mines, Dhanbad, and later obtained the MBA degree from ... More