The tobacco industry lobby won a significant victory recently when it succeeded in getting the government to amend the Tobacco Act 2003. The act had a provision for pictures displayed on products, warning about the harmful effects of smoking or consuming tobacco. These were to be displayed on all tobacco products like cigarettes, bidis and even gutkha.
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Tata Group’s Indian Hotels makes hostile bid for Orient-Express Hotels
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Hostile takeover bids are rare in India but its entrepreneurs are not loath to fight a pitched battle in international markets. The Tata group’s acquisition of a 10% stake in Orient-Express Hotels through Indian Hotels seems to be more than just an investment.
Filed under: Companies, News Analysis, Companies International, Hostile Takeovers, Indian Hotels, M&A, Orient Express
Reliance Industries buys out the Gapco group in East Africa
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Reliance Industries acquired the petroleum marketing operations of Gapco (Gulf Africa Petroleum Corporation). The acquisition has been done through a subsidiary and Reliance has not disclosed the consideration for the deal. Gapco owns a distribution network including retail outlets in countries like Tanzania, Uganda and Kenya. The company imports fuel and then supplies it to various consumers. Reliance would obviously seek to export its own fuel products through Gapco, boosting its retail margins. Continue Reading →
Filed under: Companies, Top News, Gapco, M&A, Overseas, Reliance Industries
Nicholas Piramal’s lowers risk by transferring out new drug research
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Nicholas Piramal India’s share price is up by 16% over a week, closing today at Rs 288. Its decision to float a separate company, to which it will transfer its new drug research business, and list it on the bourses is behind this excitement.