Quick view: M&M 2-wheeler unit to be part of auto equipment biz

Updated: Oct 11 2013, 09:30am hrs
Auto-maker Mahindra & Mahindra (M&M) on Thursday said its two wheeler business will be part of the auto and farm equipment sectors (AFS) business headed by Pawan Goenka from April 1, 2014. Subsequent to the retirement of Anoop Mathur, president two-wheeler sector and member of the group executive board, on March 31, 2014, two wheeler business would move to the automotive and farm equipment sectors, M&M said in a statement.

Glenmarks US subsidiary files case against 6 cos

Glenmark Pharmaceuticals said its US subsidiary filed a lawsuit in the Chancery court in Delaware against six companies, alleging that US-based Metacon Labs launched a generic version of a skin ointment violating Glenmark 180-day marketing exclusivity. The defendants in the lawsuit are two subsidiaries of Japan-based Astellas Pharma, Triax Pharmaceuticals, Precision Dermatology, Onset Dermatologics and Metacon Labs. Glenmark said it is seeking a temporary restraining order against marketing and manufacturing of the generic Locoid Lipocream, which treats inflammation.

IL&FS Engineering gets board nod for rights issue

IL&FS Engineering and Construction on Thursday said its board has approved raising up to R300 crore through a rights issue. The board of directors of the company... has approved the issue of equity shares of face value of R10 each to the existing equity shareholders on rights basis (rights issue), up to R300 crore at a price of 7.5% less than the closing price of the share to NSE on October 9, the company said. The issue would be priced at a 7.5% discount to closing price of the stock on Wednesday, the company said.

JSW Steel Q2 steel production up 5.67%

JSW Steel on Thursday said that its crude metal production during the July-September quarter rose by 5.67% to 2.98 million tonnes (MT) over last years corresponding figure. The increase was aided by output from the companys Dolvi facility, whose parent holding JSW Ispat was merged into JSW Steel in April 2013. During Q2, FY14, JSW Steel recorded a 18% increase in its flat steel production to 2.45 MT and 3% increase in long steel production to 0.46 MT, over corresponding figures of the last fiscal.

Cairn reports marginal rise in Rajasthan output

Cairn India posted a 2% increase in crude oil production from its showpiece Rajasthan oilfields in the Q2 ended September. Crude oil production in July-September averaged 175,478 barrels per day, against 171,801 bpd in the same period a year ago, Cairn said in a filing to the stock exchanges. Output in the first half of the financial year averaged 174,503 bpd, 3% higher from a year earlier.

Google Chromebooks to be available from Oct 17

Google on Thursday said that its Chromebook computers will be available in India this month with Acer and HP set to launch the devices. The Chromebook is a notebook computer which runs on the Chrome operating system with Google products built-in and which is designed to boot up quickly. The Acer C720 Chromebook, priced at R22,999, and the HP Chromebook 14, priced at R26,990, will be available at select Reliance Digital and Croma stores in Delhi and Mumbai from October 17, a release said.

3 markets from India in Asian shoppers top 20 list

Three markets from India, including two from the capital have made it to Asias top 20 street markets according to a latest survey. Dilli Haat and Chandni Chowk from Delhi and Arpora night market in Goa feature in the Asias top street markets for shopping guide released by TripAdisor. Thailand has topped the list with the largest number of diverse street markets in Asia followed by India and Vietnam with three markets each.

Rupee volatility brings down PC shipments in APAC

PC shipments in Asia Pacific (APAC) fell by over 11% to 28.1 million units in the July-September quarter this year due to currency volatilities, especially in India and Indonesia, research firm Gartner said. In Asia Pacific, PC shipments were at 28.1 million units in the third quarter of 2013, an 11.2% decline from the third quarter of 2012. The region was hampered by the currency volatilities, especially in India and Indonesia, Gartner said.