Indal rejects Sterlite offer
The board of directors of Indian Aluminium Ltd (Indal) has asked its shareholders to reject the open offer made by Sterlite Industries to acquire 20 per cent in the company. The rejection by Indal board comes at a time when Sterlite Industries is toying with the idea of making a revised bid at a much higher price of Rs 120 per share early next week as against Alcan's Rs 105 offer.
Rs 10,000 crore tax collection shortfall
With a little over two weeks to go for the current fiscal's closure, estimates predict a shortfall of over Rs 10,000 crore in the centre's excise and customs collections.
104 formulation prices fixed
The National Pharmaceutical Pricing Authority (NPPA) has further notified and fixed the prices of 104 more formulation packs. The NPPA, this time, has not taken up any cases of imported drugs for consideration. The authority has also not taken them up for review.
Auto financiers scout for recovery agents
Auoto financiers are looking for recovery agents in order to recover money loaned to transport operators. Large players in this segment like GE Capital and Citibank are among those scouting for good recovery agencies.
Basmati battle in full steam
After its success in the turmeric patent dispute, the country's scientific fraternity is now gearing up to tackle the controversial Basmati patent issue. Premier scientific research laboratories in the country including the Council of Scientific and Industrial Research have formed a joint consortium under the leadership of the Indian Council of Agricultural Research to prop up India's stand on the granting of the Basmati rice patent to an American company.
Devalued Thai baht to hit India's rice exports
A food and agricultural organisation (FAO) report projecting improved export prospects for rice and poultry from Thailand spells trouble for India's exports in these sectors. The south-east Asian currency turmoil, which had led to a decline in the value of most of the currencies, had increased the region's competitiveness in exports.
