The Hindu Business Line : Friday, July 08, 2005

Simbhaoli Sugar bags orders for ethanol supply
SIMBHAOLI Sugar Mills Ltd has bagged an order to supply 60 lakh litres of ethanol to oil companies such as Indian Oil, HPCL, BPCL and IBP in Uttar Pradesh. Another supply order for ethanol-blending programme (EBP) in Haryana is in the ... More

Aurobindo gets European approvals
AUROBINDO Pharma Ltd has announced that it was granted the certificate of suitability of monographs of the European Pharmacopoeia by the European Directorate for the Quality of Medicines for its active pharmaceutical ingredient Metformin ... More

SOCIAL SECURITY

ESIC hikes medical reimbursement limit
THE governing body of the Employees' State Insurance Corporation (ESIC) on Thursday decided to increase the ceiling on reimbursement of medical care to State Governments from the current Rs 750 to Rs 900 per insured person or family per annum ... More

TRL properties to be auctioned for PF recovery
THE Regional Provident Fund Commissioner here has notified auction of some of the properties of the sick Travancore Rayons Ltd at nearby Perumbavoor to recover dues amounting to Rs 1.97 crore. TRL is currently in the process of being revived ... More

OUTSOURCING

Volkswagen's sourcing plans uncertain
THE much-publicised corruption-related controversy involving top executives of German automaker Volkswagen AG seems to be have hit the company's ambitious component sourcing plans for India. According to sources, these plans were independent ... More

INSIGHT

`Prising' out good corporate governance
THE recent worldwide accounting scandals have underscored the role of corporate governance in protecting the interests of investors. However, the growing awareness of corporate governance has also made it more difficult to define good governance. ... More

MANAGEMENT

Pharma kids
The scions of flourishing pharma companies bring with them a youthful zest and optimism. Meet generation next in this industry. More

RESTRUCTURING

P&G Hygiene to hive off detergent facility in M.P.
PROCTER & Gamble Hygiene and Health Care Ltd (PGHHL) today announced that it was considering hiving off its detergent manufacturing facility in Madhya Pradesh. In a notice to the Bombay Stock Exchange, the listed entity of the Procter and ... More

MERGERS & ACQUISITIONS

Nicholas to pick 17 pc stake in Canadian biotech firm
NICHOLAS Piramal India has said that it would be picking 17.1 per cent stake in Canadian biotech company BioSyntech Inc. NPIL will fork out about Rs 23 crore (C$6 million) toward this equity participation, a pharma industry representative ... More

Videocon group buys out Electrolux Kelvinator India
THE Videocon group on Thursday announced its second successive buyout in less than a fortnight involving a foreign player in the consumer electronics domain. The group will acquire the entire (91.85 per cent) shareholding of AB Electrolux ... More

Dalmias in talks to buy outsourcing firm in US
THE Dalmia group today said it is in talks to acquire a BPO company in the US with a turnover of $250-300 million, as part of its plans to emerge as a dominant ITES player in the market in the next few years. "Our initial entry into the BPO ... More

Hong Kong co to acquire 20% stake in Karvy Broking
THE Hong Kong-based Pacific Century Group (PCG) has decided to acquire 20 per cent equity stake in Karvy Stock Broking Ltd (KSBL).. The Rs 83-crore deal is the first investment of PCG in the Indian financial services arena. The private equity ... More

DSP Merrill tops Bloomberg merger-acquisition advisor list
INVESTMENT bank DSP Merrill Lynch has been named the top mergers and acquisitions advisor in Bloomberg 2005 1H Mergers and Acquisitions Financial Advisory League Tables, representing publicly disclosed transactions announced between January 1 and ... More

P&J buys 44% stake in Vasundhara Rasayans
P&J Cretechem Pvt Ltd, the Hyderabad-based chemicals manufacturer, has acquired a 44.38 per cent equity stake in Vasundhara Rasayans Ltd (VRL), one of the country's largest manufacturers of the antacid range of bulk drugs. P&J has entered in More

NEW PROJECTS

Kerala Minerals to source foreign tech for Rs 760-cr expansion
THE state-owned Kerala Minerals and Metals Ltd (KMML) at Chavara near Kollam, the only company in the country producing titanium dioxide pigment rutile grade, would be sourcing environment-friendly technology from overseas for expanding its ... More

Vivimed Labs plans IPO to fund Rs 26-cr expansion
THE Hyderabad-based Vivimed Labs Ltd has embarked on an expansion project to increase its production capacity of triclosan, an anti-microbial non-injestible ingredient used in products such as tooth-paste. The company also proposes to set up a ... More

ALLIANCES & JOINT VENTURES

Glenmark in pact with Napo for anti-diarrhoeal drug
GLENMARK Pharmaceuticals Ltd has entered into an agreement with Napo Pharmaceuticals Inc to develop and commercialise Napo's proprietary anti-diarrhoeal compound called crofelemer. Glenmark has been granted an exclusive license to develop and ... More

SOCIETY & DEVELOPMENT

Divi's Labs wooing locals with welfare measures
DIVI'S Labs, which set up its second unit at Chippada village in Bheemunipatnam mandal of Visakhapatnam district three years ago, is trying to win over the locals by taking up community welfare measures and the efforts have borne fruit, according ... More

DIVERSIFICATION

Venkys India MD plans lifestyle products foray
The group has signed a pact with South Australian wine maker Boar's Rock. More

OUTLOOK

Tide Water Oil plans to rejig product mix
TIDE Water Oil Co (India) Ltd, a member of the Andrew Yule group, has planned a major rejig of its product mix to penetrate deeper into the "bazaar" segment of the market for lubes. Speaking to Business Line today after the company's ... More

BHEL to commission 3,712 MW capacity in 2005-06
BHARAT Heavy Electricals Ltd (BHEL) has commissioned 3,548 MW of generation capacity during 2004-05 and plans to add another 3,712 MW of capacity during the current fiscal, a company release said here today. BHEL has achieved 110 per cent of ... More

Yamaha on expansion drive, plans Rs 400-cr investment
Third plant, more new products on cards
YAMAHA Motor India today said that it plans to set up a third plant with an investment of Rs 200 crore. The company also plans another Rs 200-crore investment in capacity expansion and rolling out new products. Commenting on the proposed ... More

PERFORMANCE

Tata Motors' vehicle sales up 9.4% in June, car sales dip
TATA Motors today reported a dip in car sales, but posted a 9.4-per cent growth in total vehicle sales for June to 33,018 units from the previous corresponding 30,183 units. This included a 5.1 per cent increase in total domestic sales to ... More

ONGC onshore fields in Gujarat report 50 pc dip in production
ONGC has today reported 50 per cent drop in production in onshore oil fields at Ahmedabad and Ankleshwar-Gandhar due to the recent floods in Gujarat. The company's other onshore installation at Mehsana, however, was not affected. Stating that ... More

Ashok Leyland sales up 35% in June
ASHOK Leyland has reported a 35 per cent growth in vehicle sales in June as compared to sales in the corresponding month in 2004. According to a press release from the company, its total vehicle sales in June were 5,243 against 3,863 in June ... More

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Rlys to use radio frequency identification to track wagons

Hong Kong co to acquire 20% stake in Karvy Broking

Dalmias in talks to buy outsourcing firm in US

Alcatel to invest 500 m euros in India

Banks find NPA recovery more gainful than sale to ARCs

Postal Dept eases into fast lane

In Focus

BHEL Disinvestment

China's revaluation