May 5
ECONOMIC TIMES
* Enineering firm Larsen & Toubro Ltd is about to undergo a massive restructuring that will result in the creation of a dozen "operating companies" under the guidance of a separate board of directors.
* Telekom Malaysia is learnt to be looking at increasing its stake in Spice Communications to at least 51 percent from 39.2 percent, through a combination of open offer and buying some shares from the Modis.
* Reliance Communications is set to enter retailing market. It has signed agreement with vendors including LG Electronics , Samsung , Motorola , Sony Ericsson, Spice Mobiles , Fly Mobile and HTC.
* Developer DLF Ltd is learnt to be setting up a joint venture with Italian leather and luggage accessory firm, Piquadro , to sell the latter's products in India.
* National Aviation Company of India Ltd is all set to hike fares by 10 percent on domestic sectors and may also raise fuel surcharge on international routes.
* Drug maker Cipla has made an unconditional offer to share the know-how of making all 354 essential drugs with state-run drug makers. This follows the pharma industry's offer to sell essential drugs at half its maximum retail price to the government, subject to certain conditions.
* A proposed government restriction on drug trade margins is likely to exclude products of four big players - GlaxoSmithline , Ranbaxy , Nicholas Piramal , and Cadila Healthcare . These have given brand names to high-trade margin drugs originally sold by their chemical names, which do not fit into the definition of generic generics.
* Reliance Big Entertainment is in talks with private equity funds such as Kohlberg Kravis Roberts & Co., billionaire investor Carl Icahn, Japan's Softbank and Abu Dhabi Investment Authority for divestment of 10 percent equity.
* The federal government has approved Reliance Industries proposal to declare the entire KG basin D6 block as a discovery block from 2006 with retrospective effect.
* Power Finance Corp may be allowed to access up to $5 billion of foreign exchange reserves through India Infrastructure Finance Co to fund projects.
* India is considering exempting cold-rolled coils, galvanised products, tubes and pipes from a 10 percent export duty if exported against the import of semi-finished steel.
* Insurance Regulatory Development Authority has decided to raise the investment cap in group companies by insurance firms to 25 percent from 10 percent now.
BUSINESS LINE
* Empee Distilleries Ltd is in talks with with international brands for a joint venture to enter the brewery business.
MINT
* TVS Motor Co Ltd , which is locked in a technology infringement dispute with Bajaj Auto , will not re-introduce the engine at the heart of the dispute because it would have sold too many bikes using alternative technology in the interim.
* A delay in meeting its order book commitments may cost Bharat Heavy Electricals severely as steel prices have escalated by 40 percent since the fixed price contracts were signed.
* Plans of NTPC to ramp up its capacity could be jeopardised as the firm has not been able to secure gas and coal blocks from abroad.
ECONOMIC TIMES
* Enineering firm Larsen & Toubro Ltd is about to undergo a massive restructuring that will result in the creation of a dozen "operating companies" under the guidance of a separate board of directors.
* Telekom Malaysia is learnt to be looking at increasing its stake in Spice Communications to at least 51 percent from 39.2 percent, through a combination of open offer and buying some shares from the Modis.
* Reliance Communications is set to enter retailing market. It has signed agreement with vendors including LG Electronics , Samsung , Motorola , Sony Ericsson, Spice Mobiles , Fly Mobile and HTC.
* Developer DLF Ltd is learnt to be setting up a joint venture with Italian leather and luggage accessory firm, Piquadro , to sell the latter's products in India.
* National Aviation Company of India Ltd is all set to hike fares by 10 percent on domestic sectors and may also raise fuel surcharge on international routes.
* Drug maker Cipla has made an unconditional offer to share the know-how of making all 354 essential drugs with state-run drug makers. This follows the pharma industry's offer to sell essential drugs at half its maximum retail price to the government, subject to certain conditions.
* A proposed government restriction on drug trade margins is likely to exclude products of four big players - GlaxoSmithline , Ranbaxy , Nicholas Piramal , and Cadila Healthcare . These have given brand names to high-trade margin drugs originally sold by their chemical names, which do not fit into the definition of generic generics.
* Reliance Big Entertainment is in talks with private equity funds such as Kohlberg Kravis Roberts & Co., billionaire investor Carl Icahn, Japan's Softbank and Abu Dhabi Investment Authority for divestment of 10 percent equity.
* The federal government has approved Reliance Industries proposal to declare the entire KG basin D6 block as a discovery block from 2006 with retrospective effect.
* Power Finance Corp may be allowed to access up to $5 billion of foreign exchange reserves through India Infrastructure Finance Co to fund projects.
* India is considering exempting cold-rolled coils, galvanised products, tubes and pipes from a 10 percent export duty if exported against the import of semi-finished steel.
* Insurance Regulatory Development Authority has decided to raise the investment cap in group companies by insurance firms to 25 percent from 10 percent now.
BUSINESS LINE
* Empee Distilleries Ltd is in talks with with international brands for a joint venture to enter the brewery business.
MINT
* TVS Motor Co Ltd , which is locked in a technology infringement dispute with Bajaj Auto , will not re-introduce the engine at the heart of the dispute because it would have sold too many bikes using alternative technology in the interim.
* A delay in meeting its order book commitments may cost Bharat Heavy Electricals severely as steel prices have escalated by 40 percent since the fixed price contracts were signed.
* Plans of NTPC to ramp up its capacity could be jeopardised as the firm has not been able to secure gas and coal blocks from abroad.
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