India News

Benelux banc-assurance group Fortis is negotiating to set up an insurance joint venture with Industrial Development Bank of India (IDBI), the Financial Times newspaper reported on Monday.

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Bajaj Hindusthan is planning to spend Rs 240 crore to expand its capacity for industrial alcohol production (distillery). The plan is to expand the projection capacity to 800 kilo litres (KL) per day by 2006-07 and set-up three new distilleries with an aggregate capacity of 480 KL per day .

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Ranbaxy Laboratories and Medicines for Malaria Venture (MMV) will provide an update on the progress and clinical development strategy of a new anti-malarial drug, designated RBx 11160, tomorrow.

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5-10% stake sale on cards in Concor, BSNL, PFC, SCI, Nalco, PowerGrid, IRFC.Reviving the disinvestment initiative, the finance ministry has shortlisted seven blue-chip public sector companies in which 5-10 per cent .

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Hindustan Lever (HLL) has signed a memorandum of understanding (MoU) with McLeod Russel India to transfer its 100% shareholding in Doom Dooma Tea Company (DDTCL).

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With an investment of $40 million, a chip that can work 100 times faster than the Pentium chip and lock down the local area network (LAN) from security threats has been developed at the research and development centre of Nevis Network in Pune.

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HCL Technologies (HCL), in association with Japan-based NEC Corporation, has inaugurated a new facility - NEC HCL System Technologies in Noida. 

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