The Hindu Business Line : Tuesday, October 26, 2004

ACCIDENTS
Grim reminder
Victims of the Bhopal gas tragedy protesting demanding the extradition of Mr Warren Anderson, former Chairman, Union Carbide, in the Capital on Monday.

RESEARCH & DEVELOPMENT
Siemens sets up corporate tech research centre in Bangalore
GLOBAL electrical and electronics engineering giant Siemens inaugurated its new corporate technology (CT) research centre in Bangalore on Monday to carry out high-end research activities. Siemens Corporate Technology India (SCTI) centre will ... More

ANNOUNCEMENTS
Tata Motors launches Indica, Indigo cars in South Africa
TATA Motors today announced the launch of the Indica hatchback and the Indigo sedan in the South African market. "The cars will be available at dealerships in a month's time," an official statement said. Both cars were unveiled at the Auto ... More

USFDA nod for Aurobindo Pharma drug application
AUROBINDO Pharma Ltd, has announced that it has obtained the approval of the United States Food and Drug Administration (USFDA) for its first abbreviated new drug application (ANDA) for Mirtazapine tablets of 7.5mg, 15mg, 30mg and 45mg. The ... More

Ranbaxy gets FDA nod
NEW DELHI: Ranbaxy Laboratories Ltd has received tentative approval from the US Food and Drug Administration to manufacture and market Carvedilol tablets used for treatment of cardiac disorders. Carvedilol tablets are indicated for ... More

OUTSOURCING
Coimbatore seeking outsourcing offers in manufacturing
WITH sub-contracting or outsourcing becoming an accepted business strategy not only in the service sector but also in the manufacturing industry, Coimbatore is seeking to become a preferred destination for outsourcing of light engineering ... More

FINANCIAL PERFORMANCE
International Travel House Q2 net at Rs 1.26 cr
INTERNATIONAL Travel House Ltd (ITH), a travel-related services company, has reported a net profit of Rs 1.26 crore on a total income of Rs 11.53 crore for the quarter ended September 30, 2004. The company had recorded a net profit of Rs 0.39 ... More

MERGERS & ACQUISITIONS
Indian Seamless to merge 2 group cos
THE Pune-based Indian Seamless group has decided to merge Indian Seamless Metal Tubes Ltd (ISMT) with Indian Seamless Steels and Alloys Ltd (ISSAL). It has been decided to name the new company as ISMT Ltd. According to an official ... More

Ispat Intl in $17.8-b deal to form Mittal Steel — To merge with LNM Holdings, ISG
ISPAT International, owned by NRI business tycoon Mr Lakshmi N. Mittal, is set to emerge as the world's largest steelmaker on completion of a $17.8-billion deal under which the company is to merge with the Netherlands-based LNM Holdings and the ... More

L&T looking for acquisitions in engg services, hydrocarbons
LARSEN & Toubro (L&T) is aggressively scouting for acquisitions, particularly in the engineering services sector. "With a debt equity ratio of 0.28, we can considerably leverage this for acquisitions," Mr Y.M. Deosthalee, Chief Financial ... More

NEW PROJECTS
Malaysia's CNI plans manufacturing plant in India
CNI (Creative Network International), a Malaysia-based multi-level marketing company, is planning to set up a manufacturing plant in India by next year. Mr Vincent Selvarajoo, Senior Manager, Sales and Marketing, CNI Enterprise (India) Pvt ... More

Century Plyboards' cement unit may go on stream next month
THE first phase of Century Plyboards' one-million-tonne cement plant in Meghalaya is expected to be commissioned next month, and the second phase in December 2005. According to Mr Sanjay Agarwal, Deputy Managing Director of Century Plyboards ... More

ALLIANCES & JOINT VENTURES
Sundram Fasteners forms jt venture with Bleistahl
SUNDRAM Fasteners has set up a joint venture with Bleistahl Produktions GmbH of Germany for manufacturing valve guides and valve seat inserts (both engine components). The joint venture company, Sundram Bleistahl Pvt Ltd, will buy the existing ... More

SICK UNITS
Standard Motor land up for sale
THE 57.84 acres of land belonging to Standard Motor Products of India Ltd, a company now under liquidation, is up for sale with the Official Liquidator appointed by the Madras High Court inviting bids for the property. The company's land at ... More

`FACT revival hinges on State Govt'
REVIVAL of the Fertilisers and Chemicals Travancore Ltd (FACT) depends on the State Government's commitment on the issues pending with them. The Government is yet to come out with a notification reducing sales tax, abolition of entry tax on ... More

PERFORMANCE
Madhucon fastest growing construction company: Study
HYDERABAD: Madhucon Projects Ltd (MPL), an infrastructure development company, was the "fastest growing construction company in India" in 2003-04, according to a study conducted by National Institute of Construction Management Research ... More

Scoreboard
SE Diary

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Birlasoft to invest $15 m on new centres

HDFC Q2 net up 22 pc at Rs 248 cr

EC adopts new proposal for trade preferences

L&T posts 14 pc rise in Q2 net — Announces special dividend of Rs 10

Indo Gulf Fertilisers' Q2 profit dips to Rs 16.19 cr

Raymond reports fall in net profit

TVS Motor Q2 net down to Rs 34 cr; to pay 70 pc interim

Looking back
Oct. 17-Oct. 23
SPIC hopeful of recovery soon