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.
The IPO by J Kumar Infra, which closed on Wednesday, managed to scrape through, with the issue getting bids for 2.7 times. This is in sharp contrast to the recent IPOs, which were getting subscribed many times over.
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.
Following this order, Heidelberg Cement will need to pay only Rs 58 per share, instead of the earlier agreed Rs 72.50 apiece. This 25 per cent premium was agreed as a "non-compete fees" to the Indian promoters when the German major took majority control in Mysore Cements in 2006. Sebi said it did not find merit in the non-compete fees arrangement as the "sellers/promoters to whom non-compete consideration has been paid consist of trusts and charitable institutions."
In this financial year so far, insurance companies have invested around Rs 36,000 crore in the stock markets against around Rs 60,000 crore invested by the FIIs.
Citigroup Venture is planning to buy an equity stake in PINC for Rs.400 cr.
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.
Reliance Power, which is hitting the market next week with an offering of nearly Rs 12,000 crore (Rs 120 billion), will set the trend for a slew of power IPOs from other companies including Sterlite Energy (Rs 4,000-8,000 crore or Rs 40 to Rs 80 billion), JSW Energy (Rs 4,000 crore or Rs 40 billion), JP Associates (Rs 4,000 crore or Rs 40 billion) which have already announced big share offer plans.
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.
This will allow investors the freedom of choice based on the services they get from a distributor.
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.
With 40 million diabetic patients and an equal number of people estimated to be diabetic prone, India is emerging as a major market for blood glucose monitoring solutions.
In another setback to Big Pharma, US drug major Eli Lilly's blockbuster erectile dysfunction drug Cialis (generic name:Tadalafil) has failed to qualify for a product patent in India after the basic constituent of the medicine was found to be a known substance, developed and patented by Indian scientists 32 years ago.
Interestingly, the European Patent Office is yet to grant a patent for Maraviroc, citing insufficient data, sources said. These were the main reasons cited by the Indian Patent Office for rejecting the patent for the cancer drug Gleevec, which snowballed into a global patent battle between the Swiss drug major Novartis and the Indian government.
Suzlon Energy, one of the top five wind energy manufacturers in the world, plans to raise $500 million (Rs 2,000 crore) through the Qualified Institutional Placement (QIP) route to fund its expansion plans.
Standard Chartered Bank, which bought a 49 per cent stake in UTI Securities from Securities Trading Corporation of India early this year, is likely to hive off the commodities broking business into a separate company and put this division for sale.
San Francisco Employees' Retirement System (SFERS), Brown University and Texas Investment Management have joined the list of global pension, endowment and universities' funds attracted by the Indian stock markets.
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