India Business

Jaiprakash Associates To Absorb All Subsidiaries

Jaiprakash Associates To Absorb All SubsidiariesRenowned Indian construction firm, Jaiprakash Associates would merge Jaypee Hotels (JHL), Jaypee Cement (JCL), Gujarat Anjan Cement (GACL) and Jaiprakash Enterprises (JEL) with the flagship public-listed company Jaiprakash Associates (JAL). The meager is aimed to insulate the business from the impact of the global slowdown as there is a huge demand-supply mismatch in different geographical regions. All companies under a single roof would allow better control over subsidiaries, allowing better economic management and business effectiveness.
 

Bajaj Family Dispute Set To Close

Bajaj Family Dispute Set To CloseSix-year old Bajaj family drama is all set for curtains as Rahul Bajaj has acquired 29.2% in Bajaj Hindustan. He would sell 29.6% stakes in Bajaj Hindusthan to his brother Shishir Bajaj, paving the way to transfer full control of the sugar company to his brother. The move would raise Shishir Bajaj's stake in BHL from 2.85% to 32.47%.

Government To Start Auction For New Oil Fields Soon

Government To Start Auction For New Oil Fields SoonThe Union Government would start auctioning over 100 prospective areas for oil and gas exploration fields through an international bidding. The new fields would be allotted as per the eighth round of New Exploration Licensing Policy (Nelp-VIII) by the end of March 2009.
 

Aurobindo Pharma Gets Tentative Approval For HIV Drug

Aurobindo Pharma Gets Tentative Approval For HIV DrugAurobindo Pharma, an Indian private pharmaceutical company, informed that it has got tentative sanction from US Food & Drug Administration (USFDA) to make and sell fixed dosed combination Abacavir Sulfate/ Lamivudine Tablets.

The company has been allowed to manufacture the drugs in the strengths of 60/30 mg.

Abacavir sulfate tablets are indicated for the treatment of HIV infection in adults and children 3 months of age or older.

Ranbaxy Laboratories may sell 3 plants in Asia

Ranbaxy Laboratories may sell 3 plants in AsiaThe largest drug maker of country, Ranbaxy Laboratories may sell its three plants in China, Malaysia and Vietnam to mitigate the impact of global slowdown. The move is aimed rationalize company's business. It is also thinking on other cost cutting measures as per reports of confidential sources.

ACC defers Rs 600-cr RMC expansion plan

ACC defers Rs 600-cr RMC expansion planThe largest cement maker of India, ACC would not go for its expansion plans of ready-mix concrete (RMC) business following low demand due to global slow down. Earlier, ACC planned to spend Rs 600-crore for RMC used by developers in residential projects.

Pages