The Financial Express -- News

Friday, November 14 1997

Navaratna firms form club, to ask Centre to shed stake to 49%

The navratnas plan to approach the Centre with comprehensive proposals for increasing their autonomy. The foremost among them is a proposal to prune down the share of government investment in the public sector undertakings to 49%. They also propose to form their own club to define the areas in which autonomy is required in the context of the globalisation drives.

MMRDA unlikely to renegotiate with Indian Hotels on Bandra-Kurla project

The Mumbai Metropolitan Region Development Authority (MMRDA) is unlikely to renegotiate with Indian Hotels on the proposed international convention centre and deluxe five-star hotel at the Bandra-Kurla complex. Any move to begin fresh discussions would spawn needless controversies as the project was awarded to Indian Hotels after a tedious procedure of competitive bidding.

Dr Reddy's Labs to focus on formulations

In order to sustain its profitability, the Hyderabad-based Dr Reddy's Laboratories has chalked out a five-pronged bulk actives strategy, including an "intelligent juggling of the product-mix without adding to gross block". This move, which will see Dr Reddy's evolution into a formulations giant, comes even as it has been continuously reducing its dependence on this area.

Rangarajan words of wisdom fail to rouse rupee from rubble

Delay in release of EU funds irks Kerala export units