The next time you buy a shirt or trouser that claims to be stain- and wrinkle-free, thank nanotechnology for it. The Indian government has allocated Rs 1,500 crore (Rs 15 billion) for the development of nanotechnology which involves studying and working with matter on an ultra-small scale. The nanotech market globally is expected to cross $1 trillion by 2010. In India, the maximum research in nanotechnology is taking place in the biotechnology and medicine segments.
The DLF group has deferred the Singapore listing of DLF Office Trust, the real estate investment trust of DLF Asset, till the market condition improved, said sources close to the Gurgaon-based real restate group. DLF Asset has received investments worth $600 million from hedge fund DE Shaw and Lehman Bothers. DLF may now raise Rs 2,000 crore through private trusts or a private placement by March end.
Analysts feel this decision is yet another example of big-ticket acquisitions turning sour for Indian pharma firms, as happened in the case of Dr Reddy's acquisition of Betapharm of Germany for Rs 2,250 crore (Rs 22.5 billion).
Mumbai-based Sun Pharmaceuticals has filed a post-grant opposition with the Mumbai patent office against a product patent granted to the extended release version of Johnson and Johnson's (J&J) blockbuster drug Risperdal, used in the treatment of psychological disorders and schizophrenia.
Sun Pharma has increased its stake in Israel's Taro by buying 9.5% more, raising its total holding to 34.4 per cent.
Paramount Airways claims to have a break even, as other Indian carriers are facing losses.
The airline is inducting two more 70-seater Embraer planes, which will be based in Bangalore and will be used to connect Bangalore and Chennai with Pune and Goa, and then other cities in western India.
The initiative will include special training for Customs and drug regulatory officials to identify spurious drugs, their origin, distribution chain and follow-up action to raid premises and book culprits, in coordination with regulatory and police officials of various countries.
ArcelorMittal has moved a few steps forward in setting up its 12-million tonnes steel plant in Keonjhar district of Orissa
Pharma majors are collaborating with foreign companies to develop newer drugs.
More than half of the small-scale pharmaceutical units operational in India have either closed down or indefinitely suspended business activities in the last two years, having being struck by un-favourable government policies and the inability to compete with big companies in the changing business environment.
Tata Chemicals has undertaken experiments with biofuel. If these efforts are successful, the company will take up large scale manufacturing of biofuel at its Nanded plant.
Suzlon Energy is relocating its management team to Amsterdam to span their global business.
According to sources, the company will invest $350-400 million in the proposed plant. This will be the first foray by an Indian company for manufacturing cement in West Asia which was so far viewed as an export market.
Faced with a lean season when occupancies drop 15 to 20 per cent, airlines are trying to lure fliers with cheaper fares. If you time your travel well (midweek, off-peak hours), you can still fly many sectors in the country for Rs 2,525.
Multinational drug manufacturers such as Pfizer and DSM are increasingly getting into contract manufacturing alliances with emerging bulk drug makers in the country, bypassing established players such as Ranbaxy and Dr Reddy's.
Oil India chief reveals plans of the upcoming IPO and future investment strategies.
Cipla tops pharma rankings with 5.42% market share, ahead of Ranbaxy and GSK.
An analyst who tracks investments for a Singapore-based foreign institutional investor, said, "The story doing the round in stock market circles is that companies that have been allocated coal blocks can make a lot of money by selling power at merchant rates."
Oil and Natural Gas Corporation (ONGC), the country's leading oil and gas exploration and production company, is entering the alternative energy segment with a Rs 1,200 crore-plus (Rs 12 billion) investment to generate 200 mw of wind power for captive use, within two years.
