Encore files suit against Hindujas
The Encore group of companies has filed a Rs 1,312-crore suit against the Hinduja group, its former partner in the cable-television business. The point of dispute, according to an Encore release, is refusal on the part of the Hindujas to honour their commitments "in respect of shareholding committed and promised".

IPCL selloff plan cleared
The inter-ministerial group on divestment on Tuesday cleared the strategic sale of 25 per cent in the state-owned IPCL. The group has decided to invite bids from the three shortlisted parties-Reliance Industries, Mitsubishi Corporation, and the Soros Chatterjee group-in the week beginning December 13.

AstraZeneca, Novartis to merge units
AstraZeneca, the Anglo-Swedish pharmaceutical company, and Swiss drug giant Novartis AG are spinning off and merging their agricultural-chemical businesses to create a leader in the troubled sector, the companies said. The new company would be the biggest agrochemical business in the world.

SWC open offer
Shaw Wallace & Company has renewed its open offer to acquire 20 per cent equity in Charminar Breweries Rs 17.46 per share. As per the open offer, in concert with other group companies, SWC will acquire 16,90,000 fully paid-up shares of Charminar Breweries.

ACC plans to cut 1,000 jobs via VRS
ACC has launched a voluntary retirement scheme to reduce its work force by 1000. It is open to employees in all the locations of the company. The exercise is expected to cost the company over Rs 60 crore.

MUL may unveil Wagon R this month
Maruti Udyog is planning to launch the 1000cc Wagon R during a three-day visit of Suzuki Motor Corporation president and CEO O Suzuki to the country in the third week of this month. The company recently launched the 1600cc Baleno in the top end of the mid-size segment.

Copper producers hike prices
The country's three main copper producers on Wednesday increased their selling prices for continuous cast rods for December with immediate effect, company officials said. Sterlite Industries and Birla Copper raised CC rod prices by Rs 1,000 per tonne to Rs 116,000.

HCL Tech retail investors
HCL Technologies will allot shares to all the investors in its retail portion of the book-built issue, which saw an overwhelming response. Those who have applied for 100-300 shares are assured of an allotment of 50 shares.

-- Compiled by S Hariharan