* Adding momentum to the consolidation wave sweeping across the Indian cement industry, Zuari Cements the 50:50 joint venture between Ciments Francais and KK Birla group flagship Zuari Industries announced that it is buying out India Cement's entire holding of 95 per cent in Shree Vishnu Cements for Rs 385 crore.
* There were no suprises in store this time when Infosys Technologies announced its much awaited third quarter results. Mee-ting market expectations, the company grew its both sales and profits by 23 per cent in the third quarter this fiscal over the same period last year. The highlight of the results announcement was however, Mr Murthy relinquishing his chief executive officer post in favour of managing director and President, Nandan Nilekani.
* Ranbaxy has filed for an exclusive marketing rights (EMR) application for Cipro-OD, its once- daily of ciprofloxacin. Ranbaxy is the first Indian company to file for an EMR. Only multinationals are known to file for EMRs with the government of India, though none has been granted till date.
* The Essel group, promoters of Zee telefims, plans to raise Rs100 crore through a private placement of 90 lakh Zee shares. Around 2.3 per cent of the company's equity was placed with an foreign institutional investor to wipe the Rs 220 crore debt owed by Subash Chandra and his family, to Zee telefilms.
* Satyam Computers is expecting to mop up $ 100 million by selling its entire stake of 52.5 per cent in its Nasdaq listed subsidiary Satyam Infoway. Satyam is in the process of finalising a merchant banker for its stake sale. There has been speculations that AOL Time Warner and Rediff are in talks with Satyam to acquire its stake in Satyam Infoway.
