Larsen & Toubro has reportedly deferred its entry into the commercial shipbuilding business and has also decided to scale back its investment for a new shipyard near Chennai.
The communications ministry will reportedly refund about Rs 112 crore to Reliance Communications, which it had paid as part of the entry fee while taking approval for offering dual technology in 2007 as it is surrendering the permission for the technology in six circles.
Mahanagar Telephone Nigam (MTNL) is reportedly set to launch mobile video surveillance services on 11 December 2008, a month ahead of a process to offer private firms 3G licences.
Tata Steel is reportedly planning to reduce its headcount by more than 7,600 by 2010 from mechanisation of plants, outsourcing work and the closure of some units among other rationalisation measures. The current strength is nearly 31,500.
Glenmark Pharmaceuticals has reportedly filed counterclaims in the US district court of New Jersey, claiming two patents of Teva Pharmaceutical Industries for making the cardiac drug carvedilol, are invalid and unenforceable.
Kingfisher Airlines said on Thursday, 4 December 2008 it would start daily flights from Mumbai to London from 5 January 2009. This would be the second international route to be operated by the airline following the launch of its Bangalore-London sector in September 2008. Kingfisher on Wednesday, 3 December 2008 said it had received approval from the federal government to operate flights on nine international routes, including Mumbai-London.
State Bank of Mysore said on Thursday, 4 December 2008 will meet on 6 December 2008 to consider the record date for splitting its shares. In May 2008, the board had approved splitting each share into ten.
Wockhardt said on Thursday, 4 December 2008 its US subsidiary, Morton Grove Pharmaceuticals, received US FDA approval to market augmentin suspension, a pediatric drug. The drug is used to treat several common infections, especially in children. The company intends to launch the product in the US in the third quarter of 2009, it said in a statement.
Ashok Leyland, which makes trucks and buses, on Thursday, 4 December 2008 said its domestic sales tumbled 66.7% to 1,788 units in November 2008 over November 2008.
NMDC said on Thursday, 4 December 2008 it has decided to cut prices of iron ore products by about 25%, with effect from 1 December 2008.
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