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Drumbeat: Ad Buzzaar

Tuesday, May 19, 1998

	Pfizer expresses concern over local industry's interest in Viagra molecule The United States multinational Pfizer, the patent holder for block-bluster anti-impotency drug, Viagra, has expressed concern over Orchid Chemicals and Pharmaceutical's plans to manufacture sildenafil citrate in the country.		Open-offer diktat on Bharti Telecom leaves Sivasankaran sans exit option SEBI has directed the C Sivasankaran-controlled Sterling Horticulture & Research to fulfil its open-offer announcement made in November 1996 for acquiring a 20% stake in Bharti Telecom at Rs 95 a share. Sterling Horticulture, which has to make the offer within the next 15 days, has also been directed not to sell off its 9% stake in Bharti Telecom.
	Industrial growth rate slumps to 4.2% Industrial growth rate slipped to 4.2% during 1997-98 from 7.1% in the previous year. Official figures show that the robust 6.8% growth in electricity sector and a 4.9% growth in mining during the financial year were offset by a very low growth of 3.6% in manufacturing sector.		Hindustan Petroleum board recast on the cards The board of directors of Hindustan Petroleum Corporation is likely to be reshuffled during the next few days. The reshuffle was being done keeping in line with the recommendations made by international consultant, Arthur Andersen. The reshuffle would involve a swap in designations of two directors.

Kalyani Steels set to sew up venture with US firm; to spin off Mundhwa facility
Kalyani Steels is in the process of finalising a joint venture with Carpenter Technology Corp. of Reddington, USA, for the manufacture of value- added special steels. The proposed joint venture will involve spinning off KSL's Mundhwa plant, near here, to a new company, Kalyani Carpenter Special Steels Ltd, in which Kalyani will hold a majority stake.

Centre clamps anti-dumping levy on Chinese, US electrodes
The Centre has imposed "final" anti-dumping duties on graphite electrodes originating in or exported by China and seven other countries. The duties depend on the size of the electrode, and are based on the "final" findings of the designated authority set up in the commerce ministry to probe dumping cases.

CORPORATE
Mysore Cements posts net loss of Rs 48 crore
BIFR declares Ucal Power sick, asks IDBI to review revival chances

ECONOMY
`DNV-classed ships face lowest detention ratio'
Sanctions won't hit CSIR plans, says Mashelkar

EXPRESSIONS
Self-reliance is key
Road to nowhere

MARKETS
Icra downgrades Surya Roshi debt programmes to LA+
Sensex recovers 59 points as local funds come to the rescue

LEISURE
Drawing a line between professional ethics and organisational interest
Planning retirement: Identify income needs, set expenses