ECONOMIC TIMES

Weekly Newsw.e.f 6th September,2010 – 10th

September, 2010

Submitted By:Abhineet DasMBA 2A94972238133

Suzuki plans third auto plant in India

• Suzuki is planning to set up the 3rd manufacturing plant by 2013 at the same site in Manesar.

• Suzuki has a 54% stake in the Indo-Japanese joint venture.

• The market share of Maruti Suzuki plummeted from 53.3% to 47.7% in April-July period,2010.

• The 3rd plant is expected to boost up the production capacity to 8 lakh vehicles from the present 3.6 lakh.

• Suzuki Chairman Osamu Suzuki is realistic about the yen reaching a 15 year low it hit last month , so Japanese automakers have decided to set up production plants abroad.

Intas Pharma mulls 800-cr public issue

• Ahmedabad based Pharma Company , Intas Pharma plans to raise Rs 750-800 crore by selling its 15% stake.

• The firm has appointed Morgan Stanley and Kotak Mahindra as the bank-ers for the proposed issue.

• Intas wants to scale up its overseas operations. It is in talks with two US drug companies.

Cairn told to take fresh approvals

• Petroleum Ministry has asked Cairn Energy Plc to seek fresh approval for Vedanta Industries bid to acquire 60% stake in Cairn India.

• Petroleum Secretary, S Sunderashan said we can only intervene once Cairn India provides the appropriate letter that contains details of the Product-sharing contract (PSC)

• These PSC norms require government approvals if there is involvement of change of ownership and management of the company.