Management
National Aluminium Company (Nalco), a leading producer of aluminium in the country, intends to enter the energy sector as an independent power producer.
The changes to industry dynamics and competitive landscapes resulting from the global recession will likely after the profiles of key industry sectors to the benefit of Asian companies by 2012 and there would be more cross-border mergers and acquisitions over the next few years, says Fitch Ratings.
Herta Müller, the new Nobel laureate in literature, has been a fierce critic of Ceausescu’s regime in Romania. She is highly regarded in Europe’s academic circles. She had received over 20 literary awards, including the IMPAC, before winning the Nobel this year. And I must confess an unliterary complaint: having read only two of her books, The Land of Green Plums and The Appointment, I have about as much enthusiasm for reading her as I do for swimming through a pool of cold porridge.
- Poems for the people - Just imagine - Past speaking - Cool head in Eden - Would be nice - Epis-too-late
Nearly three decades after he co-founded Infosys Technologies with six others, N R Narayana Murthy has initiated the first step towards starting a venture capital (VC) fund focused on India. The Infosys Chairman, during the past two days, has offloaded 800,000 shares from his personal holding, to raise about Rs 177 crore.
Affordable housing segment will play a key role in driving growth for India"s real estate sector in 2010 on the back of pick up in demand, a top industry body has said.
Construction firm Ahluwalia Contracts India today said it has bagged four orders worth Rs 242 crore from various vendors for construction-related works.
Stock markets surged on hopes of a push to domestic economic reforms, positive G-20 talk and firm global markets. The Sensex gained 340 points to end at 16,499 and the Nifty closed at 4,898, up 102 points.
The government today said that affordable housing will drive the construction sector and subsequently the industrial output during the current fiscal.
Karnataka Chief Minister B S Yeddyurappa today ruled out the question of dropping any of his ministers, a demanded made by the dissidents, but vowed to change his style of functioning.
The arrest of former Jharkhand Chief Minister Madhu Koda by the Enforcement Directorate (ED) is "imminent" as the evidence against him, for allegedly carrying out hawala transactions and illegal investments worth crores of rupees, "is satisfying".
Monday and Tuesday were supposed to be the days for the mock auction for 3G spectrum, with the final auction to be held on January 14. Naturally, then, reporters rushed to meet Telecom Minister A Raja when the last date for the mock auctions passed without anything happening. Instead of announcing a new date, or giving the usual “no comment”, Raja surprised everyone by saying, “The date has not been pushed.”
Commercial vehicle maker Ashok Leyland has said it would start delivery of the first 50 ultra low entry (ULE) buses to the Delhi Transport Corporation (DTC) soon as part of its Rs 1,190 crore contract to supply 875 buses this fiscal.
The JV was supposed to get at least 45 per cent stake
India’s sugar output in the first two months of the new season that began October fell to 1.7 million tonnes, down 100,000 tonnes from the year ago level, due to delayed crushing in the key state of Uttar Pradesh and lower recovery from cane, a senior industry official said today.
Commercial vehicle maker Ashok Leyland today reported a 70.47 per cent decline in its net profit at Rs 53.32 crore for the quarter ended March 31, 2009, compared with Rs 180.57 crore in the same period a year ago.
Singapore sovereign wealth fund GIC today signalled it would shift its focus to Asia after its portfolio shed more than 20 per cent following heavy losses on Western investments.
Business Standard / New Delhi August 31, 2009, 0:44 IST
Drug maker FDC today said it has bought back shares worth Rs 17.78 crore from its shareholders, following which the promoter group"s holding in the company has increased to 65.76 per cent.
UN chief Ban Ki-moon has pressed world leaders to publicly commit here next week to reaching a global climate change deal in Copenhagen in December.
The city-based Centre for Cellular and Molecular Biology (CCMB) is setting up a BSL-3 (bio-safety level) facility on its campus for testing swine flu virus.
Two persons died of swine flu today taking the total deaths to four in Andhra Pradesh.
One more person died of swine flu here, taking the death toll in the viral infection in the city to 34, health officials said today.
Leading tyre maker MRF today posted a net profit of Rs 119.41 crore for the quarter ended December 31.
The Supreme Court is likely to defer the gas dispute between Mukesh Ambani group firm RIL and Anil Ambani group company RNRL to September four, as the Chief Justice may lead a Constitutional Bench the same day.
Under criticism for its role in validating Mukesh Ambani-led RIL"s $8.83 billion gas field costs, Mustang Engineering of the US today said it did an "independent" evaluation and had never approached the firm for any commercial deals.
Novartis India surged over 4% to Rs 447. The scrip touched a high of Rs 450 and a low of Rs 434 during the day. The counter witnessed a volume 13,914 shares, which is more than two-fold increase in its two-week average traded quantity of 5,919 shares.
Analysts feel even this may not induce many shareholders to sell.
Swiss drug firm Novartis AG today sweetened its open offer price to Rs 450 a share for acquiring an additional 39 per cent stake in its Indian subsidiary — Novartis India.
While the world grapples with a cure for the H1N1 swine flu, those in the trenches are coming up with their own solutions. Russian soccer fans, Reuters informs us, have been advised to drink a lot of whisky on their trip to Wales for the World Cup next month. “We urge our fans to drink a lot of Welsh whisky as a form of disinfection,” Alexander Shprygin, the head of Russia’s supporter association VOB told Reuters. The Russian health ministry had issued an advisory against travelling to the UK because of the swine flu virus but, armed with the Shprygin Solution, it is expected that several hundred fans will travel to support the team.
Maharashtra allows eight private hospitals to treat patients.
Domestic pharma major Ranbaxy, now owned by Japan"s Daiichi Sankyo, cut the remuneration to its directors by about Rs 3.5 crore in last fiscal, but the payout still exceeded the limits prescribed by the government.
Dr Reddy"s Laboratories (DRL), the second largest drug maker in the country, would invest about Rs 750 crore ($ 150 million) in setting up two special economic zones (SEZs)- one in Visakhapatnam and another in Hyderabad.
Aabhas Sharma / New Delhi July 25, 2009, 0:40 IST
Spencer’s, the retail arm of the Rs 13,500-crore RPG Enterprises, will be focusing more on large format stores this fiscal and prune down investments per store in order to beat recession blues and turn the company profitable.
Sunil Sethi / New Delhi July 25, 2009, 0:26 IST
In line with the global trend of going green, FMCG major Nestle India is working on a series of initiatives to reduce use of natural resources and cut costs.
FMCG major Dabur is stepping up expansion in the skin care segment, on the back of its acquisition of Fem Care Pharma last year, with plans to expand range of products from the latter"s stable besides launching a new brand of its own.
Insisting that the Copenhagen accord was reached to the satisfaction of all concerned, government today told the Rajya Sabha that the provision for "international consultation and analysis" will in no way affect India"s sovereignty.
Business Standard / New Delhi December 21, 2009, 0:38 IST
- Succession race hots up in AP - AP Cabinet wants YSR"s son Jagan as next CM - YSR"s death may hit infra companies - V V: Gray"s anatomy of the mind">V V: Gray"s anatomy of the mind - India has lost an outstanding leader: Manmohan Singh - PM, Sonia pay homage to YSR
The Prime Minister’s economic panel today said the government and the RBI will have to slowly withdraw the stimulus packages given during the slowdown once the economy begins to show surer signs of recovery.
Never let it be said that the Justice Department can’t move quickly when it gets a hot tip about an alleged crime at a Wall Street bank. It does help, though, if the party doing the complaining is the bank itself, and not merely an aggrieved customer.
Having acquired contiguous land of over 8,000 acres at Jhajjar in Haryana, Reliance Haryana SEZ Ltd (a joint venture between Reliance Ventures Ltd and Haryana State Infrastructure and Industrial Development Corporation, or HSIIDC) is likely to rope in Infrastructure Leasing & Financial Services Ltd (IL&FS) as a consultant and co-partner in the project.
Uttam Galva Steel today said the number of company"s shares pledged with lenders has come down considerably with 11 of its promoters revoking nearly 10 per cent of the pledged holding.
Hospitality major Panoramic Universal today said it is in talks with a couple of private equity players and a strategic investor to raise up to Rs 100 crore by offloading stake to part-finance acquisitions of three-star and four-star hotels in India.
India-origin billionaire Lakshmi Mittal-led ArcelorMittal today made an offer to buy an additional 29.4 per cent stake in domestic steel firm Uttam Galva Steel at Rs 120 a share.
The stock ended at its 10% upper circuit of Rs 125. The counter clocked volumes of 1.26 million shares as compared to the two-week daily average traded volumes of 913,935 shares on the BSE. The scrip surged 111% in a month.
Scam-hit Satyam Computer has entered again the elite club of the top 100 companies in terms of market valuation -- a status it had lost after being hit by the country"s biggest corporate fraud.
Real estate developer K Raheja Universal Private Ltd wants to scrap one of their notified special economic zones (SEZs) and also surrender a part of another zone, citing lack of demand from the information technology sector.
Satyam Computer Services Ltd is launching a one-time programme — christened ‘Virtual Pool’ — aimed at addressing staff costs, while retaining talent.
The New Year brought the happy news that exports showed positive growth of 18 per cent in November 2009. The coming decade promises to bring more exciting news.
A crucial UN climate summit opened here today amid calls for "early action" to combat the threat and with the hope that emission reductions promised by key countries had put the world closer to a global warming control pact.
Notwithstanding the growing concern over an appreciating Indian rupee against the US dollar which could eat into their operating (Ebitda) margins, major Indian IT services providers believe the worst is behind the sector.
The row between the CPI(M) and its arch rival, the Trinamool Congress (TC), over land refuses to die. After the land acquisition issue played a crucial role in the 2009 Lok Sabha polls in West Bengal, it became a hot topic again today, as the CPI(M) and the TC locked horns during the Railway Budget discussion in the Lok Sabha.
The global economic downturn has cast its shadow on venture capital investments in India which have slumped 72 per cent to $117 million in the first 6 months of the current year.
The Orissa Electricity Regulatory Commission (OERC) has stayed the operation of the load restriction order issued by the Orissa Power Transmission Corporation Ltd (OPTCL) to restrict the drawal of industrial load up to 10 Mw. It has issued notice to the State Load Despatch Centre (SLDC), OPTCL, Grid Corporation of Orissa (Gridco) and the Orissa government to file their replies before OERC within 7 days.
The small car being developed by Bajaj Auto that will be marketed by Renault-Nissan alliance in India will be smaller than Maruti Suzuki"s Alto, according to the French car maker.
Vedanta Group company Sterlite Energy is believed to have bagged the country"s first ultra mega power transmission project, breaking the decades old monopoly of state-run PowerGrid Corporation.
Though CM has shown confidence, Bihar is still not getting private sector investment.
Power transmission and distribution company Areva T&D India today said its shareholders have approved sale, lease or transfer of its undertakings.
IN MY MIND
The setting is very playful with a fit Mahendra Singh Dhoni asking an even fitter Bipasha Basu out on a date. She agrees, only if he can beat her in a race. The next morning, the two set out to race. Basu creates hurdles for Dhoni by distracting people on the way. Thus, when he finally makes it to the finish line, she’s already waiting for him, but is willing to give him a second chance.
General Motors Co and Ford Motor Co announced sales incentives aimed at luring owners of Toyota Motor Corp vehicles, after the Japanese carmaker expanded recalls to fix accelerator pedals that may stick in some models.
Six out of the top 10 companies added over Rs 24,000 crore to their market capitalisation last week with telecom giant Bharti Airtel alone contributing one-third of the gain.
The Sensex is now at 16,962, up 85 points. The Nifty is at 5055- up 22 points.
IN MY MIND
Barely three months after emerging out of bankruptcy, General Motors has launched its luxury Sedan, the Chevrolet Cruze, in India. Built on a global platform called the 300 series, the Cruze will compete with the Honda Civic, Skoda Laura and Volkswagen Jetta for a space in the executive segment.
Automaker Tata Motors today reported 77.30 per cent jump in its total sales during January at 65,478 units.
Contrary to general belief that share prices will rise ahead of the Union Budget, the expectation is that they will fall further due to the expected withdrawal of some stimulus measures, according to foreign brokerage Bank of America Merrill Lynch.
The leading Kerala-based private sector lender Federal Bank today said its net profit declined by 45.92 per cent to Rs 110.25 crore for the third quarter ended December, over the corresponding quarter last fiscal.
Spices exports from India will cross the $1-billion mark in the current financial year, according to VJ Kurien, chairman of the Spices Board.
Orchid Chemicals & Pharmaceuticals reported a net loss of Rs 13.20 crore for the quarter ending on September 30, 2009 as compared to Rs 40.66 crore loss last year.
After successfully conquering Europe with its hatchback A-Star, the country"s largest car maker Maruti Suzuki India (MSI), is turning its eyes to the South East Asian market with its latest compact car Ritz.
State-owned IDBI Bank is believed to have zeroed in on Kerala-based private sector lender Federal Bank for acquisition.
Actor-turned-politician Chiranjeevi, whose party Praja Rajyam is opposed to bifurcation of Andhra Pradesh, today met Home Minister P Chidambaram and apprised him of the "deteriorating" law and order situation in the state.
Indian Oil Corp, the nation’s largest state-owned refiner, hired HSBC Holdings Plc, Standard Chartered Plc and Deutsche Bank AG to help it raise $500 million from its first overseas bond sale.
Taking "serious" note of internet giant Google"s allegations that Chinese authorities indulged in e-mail hacking and censorship, the Obama administration has sought explanation from Beijing on the issue.
The United States has said it has held several rounds of meetings with China on the allegations of search engine giant Google that Chinese authorities were indulging in email hacking and censorship, a top Obama Administration official said.
The stock ended at the same 5% upper circuit with pending buy orders of 166,353 shares on the BSE.
Karnataka Chief Minister B S Yeddyurappa is not likely to initiate any legal action against former Prime Minister H D Deve Gowda for using unparliamentary language against him but the state unit of BJP has threatened to file a suit against the JD(S) Chief.
Telecom giant Bharti Airtel has managed to declare a profit but its results show a real problem in even the top line. This underscores the need for these market leaders to find other ways to monetise customers. The plain vanilla voice market is no longer profitable, but these companies haven’t done much by way of value added services apart from the caller tunes, which is now an old story.
IT training and education major, Aptech, has sealed a major buyout in the animation and multimedia education space by acquiring Maya Academy of Advanced Cinematics (MAAC) for Rs 76 crore.
After committing an investment of Rs 60,000 crore on various projects in Orissa including an aluminium smelter plant, an alumina refinery unit and a mega university project, London-based Vedanta Resources Plc has now evinced interest in setting up a steel plant in the state.
The flow of resources from other entities to the corporate sector has almost made up for the shortfall in non-food bank credit.
Anil Ambani Group firm Reliance Natural Resources (RNRL) today reported growth of 3.30 per cent in net profit at Rs 25 crore for the third quarter ended December 31, 2009, over the same period last year.
Global cues and fears of tightening monetary measures by the central bank pulled down the benchmark BSE Sensex 490.6 points (2.92 per cent), marking the sixth day the market has been in a bear grip.
After marginal moderation for three weeks in a row, food inflation inched up to 17.4 per cent for the week ended January 16.
UBS AG said it aims to reach 15 billion Swiss francs ($14.9 billion) in annual pretax earnings in three to five years, as Chief Executive Officer Oswald Gruebel rebuilds Switzerland’s largest bank after record losses.
Majority of HR managers in financial institutions across London expect hiring in the city to rise significantly in 2010, a survey by global professional recruiter Morgan McKinley says.
K Santhanam, a retired DRDO scientist, today accused former AEC chief Anil Kakodkar of "ignoring facts" about the yield of the nuclear tests done at Pokhran in May 1998, calling him "a liar" motivated by institutional loyalties.
The iconic US cult bike maker Harley Davidson is set to enter Indian markets tomorrow, two years after it was first granted permission to start operations in the country. Sales will, however, begin only by 2010, the company said in a statement.
Business Standard / New Delhi January 22, 2010, 0:58 IST
Amid controversy surrounding the Intergovernmental Panel on Climate Change (IPCC) report on melting glaciers, Xie Zhenhua, Vice-Chairman of China’s National Development and Reform Commission, today urged the UN panel to make the fifth assessment report comprehensive by also citing contrarian views.
The Hinduja group would achieve financial closure for the 1,040 Mw power project being set up at Visakhapatnam by October 2009.
Indian musician A R Rahman"s first Hollywood film "Couple"s Retreat" has won him a place in the Oscar shortlist yet again for "Best Original Song".
The ongoing attacks on Indian students studying in Australia have received a strong reaction from the Indian film fraternity.
India needs to scale up its spending on Science and Technology from the current level of expenditure in this field which stands a one per cent of the GDP, said Prime Minister Manmohan Singh.
Notwithstanding the high voltage overseas road shows and Incredible India campaign, the decline in foreign tourist arrivals in the country continues.
Hungry for growth, companies such as Godrej Appliances and LG Electronics are set to debut in the sub-Rs-7,000 refrigerator range.
Led by market leader Hero Honda, two-wheeler manufacturers posted an impressive growth in sales during the month of November on the back of favourable bank lending rates and a good response to new launches. Heavy promotional campaigns and sales offers by most companies also aided demand.
IN MY MIND
The unemployment rate in the OECD region — a grouping of 27 developed and developing nations — stood at 8.8 per cent in November 2009, amid the global labour market slowly witnessing signs of stabilisation.
A cartoon in a Delhi newspaper, which allegedly depicted a Victoria policeman as a member of hate group Ku Klux Klan in the wake of attacks on Indians, has sparked an outrage in Australia with acting Prime Minister Julia Gillard condemning it as "deeply offensive".
Ahead of President Lee Myung-bak"s visit to New Delhi, South Korea today said it is keen to forge cooperation with India in the nuclear energy sector as the two countries plan to upgrade their ties to strategic partnership.
Tata group"s Tanishq retail chain of stores, launched a special festive contest for its customers in Gujarat today. The offer gives customers the opportunity to win diamond jewellery along with assured gifts on purchase worth Rs 15,000 or more from Tanishq.
Tata Group firm, Voltas today said its non-executive independent director S D Kulkarni has retired from the board of the company.
Tata Motors has entered into an understanding with the Union Bank of India (UBI) to provide an added facility to Tata Motors" dealers for funding of their purchases of the company"s cars and utility vehicles.
Having placed nearly 70 per cent of their students in just over a month, the IITs are hopeful of wrapping up the placements season much before March
Shivani Shinde / Mumbai September 24, 2009, 0:36 IST
The Andhra Pradesh government has awarded the State Wide Area Network (Swan) project to Tata Consultancy Services (TCS), the country"s largest information technology company, on a five-year build, own, operate and transfer (Boot) model.
President Pratibha Patil’s son is fighting on a Congress ticket against the powerful two-term sitting MLA and Maharashtra finance minister Sunil Deshmukh, who has quit the party to contest as an independent.
BS Reporter / Mumbai September 5, 2009, 0:48 IST
Carnation, the multi-brand car servicing major, today announced plans to roll out its own brand of auto spare parts by mid-2010. “We’ll be launching our own brand of genuine car spare parts,” said Jagdish Khattar, CMD of Carnation, at the formal launch of nine service outlets today.
The Indian bourses continued their winning run for the third straight day. The Sensex opened on a firm note at 17,556 tracking strong global cues.
The Sensex is exhibiting firmness and is now at 17,708, up 149 points. The NSE Nifty is at 5,280, up 48 points.
Rising demand and steep rise in raw material prices may lead to 10-30% hike in prices.
Demand for gold waned by 49 per cent in the third quarter this year over the corresponding period last year, thanks to a surge in its prices, the World Gold Council (WGC) said today.
The metal may see a correction soon on persistent selling by institutional investors.
Mobile handset maker China Wireless Technologies today forayed into the Indian dual-sim smart-phone market in partnership with Reliance Communications (RCom), aiming to clock Rs 800 crore revenue in the next five years.
Punjab and Sind Bank Ltd had sought government approval for its proposed initial public offer, a source close to the development said today.
In what would be the second biggest initial public offer (IPO), Naveen Jindal-promoted Jindal Power Ltd (JPL) plans to raise up to Rs 10,000 crore in this financial year.
Trinamool Congress MP Sudip Bandopadhyay has a fetish for shawls. During the winter session of Parliament, Bandopadhyay found many opportunities to show off his shawls that he wears in a trademark style.
Controversy continues to dog Aamir Khan starrer "3 Idiots" with the Maharashtra government today deciding to examine its content after the film reportedly inspired a ragging incident in a Mumbai medical college.
Amidst sugar prices touching Rs 44 a kg in the retail market, the government today said it is keeping a watch on the prices.
Amid rising food inflation, the Reserve Bank of India (RBI) today said it will take "prompt action" if it felt the price rise is due to demand factors.
India exports 100 million tonnes of iron ore to China.
The Men in Blue haven’t quite got a thumbs up from advertisers for the team’s sponsorship, with virtually no takers for forms that are up for sale to bid for the sponsorship of the Indian cricket team till this evening. Sale of forms closed today and tomorrow is the last date for bids.
Maharashtra Electrosmelt (MEL), a SAIL subsidiary, will invest Rs 200 crore to set up a furnace with capacity of 42,000 tonnes per annum at its Chandrapur plant.
Delhi-based businessman Sanjay Dalmia and Indiabulls Financial Services (IFS) have arrived at an out-of-the-court settlement of their legal dispute, the Bombay High Court was informed today. In a related development, the court directed the police not to arrest Dalmia till February 1.
The Bombay High Court today asked the Economic Offences Wing (EOW) not to arrest Delhi-based businessman Sanjay Dalmia after senior counsel Ram Jethmalani said that he was trying to negotiate an out-of-court settlement with Indiabulls Financial Services (IFS).
The new five-party coalition in Jharkhand which is all set to assume power tomorrow has 31 MLAs with criminal cases against them.
The markets ended their four-day winning streak as global indices closed lower. The Sensex closed at 17,343, weaker by 57 points, and the Nifty closed flat at 5,169. The broader indices, however, outperformed the benchmark indices. The consumer durables pack was the leading sectoral gainer for the second day in a row while FMCG and metals showed weakness.
The Indian economy may grow by 9 per cent in the next fiscal on the back of strong industrial growth and rising domestic consumption, global consultant Ernst and Young today said.
Volvo Trucks India today said it has increased prices of its vehicles by 3-4 per cent starting this year on account of rising input costs.
The Prime Minister’s Office does not have any information whether cabinet ministers who were part of the Empowered Group of Ministers (EGoM) to decide on the price of gas from the Krishna-Godavari basin had declared if they had any conflict of interest with regard to Reliance Industries Ltd or the late Dhirubhai Ambani. The PMO has said so in reply to a Right to Information (RTI) query.
The RBI clarification, issued on December 1, 2009, has allowed banks to include technical or prudential write-offs for calculating provision coverage for non-performing assets (NPAs) - mandated to be at a minimum of 70% by September 10. This has triggered a relief rally in bank stocks with reasonably higher NPAs or low provisioning which were underperforming the BSE Bankex (see Prodigal returns).
The Centre today informed the Delhi High Court that differently-abled government employees will be eligible for equal benefits for the postal life insurance policy with maximum limit of Rs five lakh.
Global private equity firm Actis today said it has raised $750 million for investment in infrastructure across emerging markets, including India.
As BJP grappled with dissidence among its MLAs, opposition Congress today fielded T B Jayachandra as its candidate to contest the post of assembly Speaker to be held tomorrow.
Phase-II yet to begin, will take three years to conclude.
Providing a sovereign guarantee to the National Highways Authority of India’s (NHAI’s) borrowings will be decided on a case-to-case basis by the finance ministry.
While the results of the clinical trials on the company’s new molecule, Balaglitazone, are positive, a lot needs to be done.
Pharma company Piramal Healthcare today said it is looking for acquisitions in the fields of patented drugs, contract research and research molecules and will raise Rs 1,000 crore for this purpose.
Asian markets ended flat at the end of a lacklustre day.
The Sensex finally ended (provisional) with a loss of 201 points at 16,993. The NSE Nifty was down 59 points at 4,983.
The Sensex has rebounded into the positive terrain and is now at 16,386, up 32 points.
Foreign institutional investors (FIIs) were net sellers of Rs 548.77 crore (provisional) today, according to data released by BSE.
The share of SGX Nifty has risen from 2% in March to 5.9%.
The Sensex has come off from the day"s high and is now at 17,203, up 71 points. The NSE Nifty is at 5,106, up 15 points.
The much-awaited 3G spectrum auction will be delayed beyond the scheduled date of January 14 due to uncertainty over the available spectrum and the number of slots to be put up for bidding.
Sun Pharmaceutical Industries’ attempts to take over Israeli drug major Taro Pharmaceutical has received support from Proxy Governance, an investment advisory agency.
Disinvestment process in four public sector undertakings is likely to be completed over the next two months, a top government official said today.
Drug maker Dr Reddy’s Laboratories plans to launch generic version of the world’s largest selling anti-cholesterol medicine ‘Lipitor’ in the US market in the next 2-3 years.
Hyderabad-based drug maker Dr Reddy"s Laboratories plans to launch generic version of the world"s largest selling anti-cholesterol medicine "Lipitor" in the US market in the next 2-3 years.
Pharma companies in Andhra Pradesh say they are losing heavily due to the Telengana unrest in the State.
Ahead of its upcoming annual general meeting on December 31, 2009, Israeli drug firm Taro Pharmaceutical today asked its shareholders to reject a takeover bid by India"s Sun Pharmaceuticals.
Also considering selling some of its third-party products.
Will be available from next year for Rs 2.5 cr.
The stock ended at Rs 1,468, up 1% from its previous close. The counter clocked volumes of 18,616 shares as compared to the two-week daily average traded volumes of 30,875 shares on the BSE.
September proved to be fruitful for investors as they grew wealthier by Rs 4.33 lakh crore in the period, with the benchmark index Sensex gaining over 10 per cent.
To lure the Business Process Outsourcing and IT/ITeS industry, the Mayawati government in Uttar Pradesh has showered various sops. The realty sector, too, has been blessed with many relaxations.
The Andhra Pradesh Industrial Infrastructure Corporation (APIIC) has issued offer letters, so far, to an Indian and two American companies for setting up solar power plants at Kadiri in Anantapur district where it has earmarked an area of 5,000 acres for allotment to solar power projects.
Oil prices reached a fresh one-year high near $76 a barrel on Thursday in Asia on a weaker US dollar and growing investor optimism about an economic recovery.
The sale of paints and colouring items for households is witnessing almost 25 per cent fall compared with last year despite the ongoing festive season.
Oil prices fell to near $71 a barrel today in Asia, giving up part of the previous day"s big gains, as the US dollar rebounded.
Lower than expected refining margins have dragged down the company"s profits.
Sunanda K Datta-Ray / New Delhi November 21, 2009, 0:08 IST
India’s long-criticised Akash anti-aircraft missile is now blazing towards success. Its counterparts in the DRDO’s Integrated Guided Missile Development Programme, the Prithvi and Agni ballistic missiles, were on target from the start; the anti-tank Nag missile will also enter service shortly; the Trishul short-range anti-aircraft missile was abandoned unceremoniously. Now, after years of rejection from the military, the Akash is being accepted as a world-class missile.
Mahindra Satyam today said it has selected Malaysia to kick off a new international expansion drive, especially into the Asia-Pacific markets.
Taking its “In India, for India” initiative further, GE Healthcare today launched MACi, a low-cost portable ECG device.
By contrast, the fraud enabled Raju’s kin and aides to make hundreds of crores, charges CBI.
Mahindra Satyam is reportedly on the verge of finalising a deal to payback an undisclosed sum to the Victorian government following the collapse of a $75 million IT project in Geelong.