Ranbaxy Laboratories, Dr Reddy's, Nicholas Piramal and three other Indian drug companies cut their research costs by separating the units involved in developing new drugs, thereby addressing investor concerns on low operating margins.
The auto maker is on a rough road with demand for both CVs and cars sluggish. With sales of commercial vehicles having barely grown and passenger car volumes dipping in FY08, the street was not expecting much from India's biggest automobile company.
The credit growth in the current financial year has slowed down to 22.6 per cent at the end of January 2007 compared with nearly 30 per cent a year ago. While that in itself is not too worrying, most of the demand stems from companies with retail offtake in low double digits.
Leading Indian pharmaceutical companies, which are largely focused on the global generics and the domestic pharma market, have succeeded in keeping a tight check on their key research and development (R&D) costs in the December 2007 quarter.
Pharma firms have slowed down on R&D activities in a bid to control costs.
The FIIs' stake in Reliance Industries has increased from 20.22 per cent at the end of the March 2007 quarter to 20.85 per cent at the end of the June 2007 quarter, according to the BSE's shareholding pattern data.
Birla patriarch, B K Birla's decision to give Kesoram Industries to his grandson Kumarmangalam Birla has brought to focus the possibility of unlocking value in Kesoram through the demerger of its two main businesses - cement and tyre.
Foreign institutional investors have shown signs of reducing their exposure to the oil sector as they fear the upcoming assembly elections in several states will dominate the decision-making process in the sector.
With 62 filings, domestic pharma companies have filed the maximum number of drug master filings with the US Food and Drug Administration in the July-September 2006 quarter.
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