To: Mohan Marette who wrote (1003 ) 3/3/2000 11:38:00 AM From: Mohan Marette Read Replies (1) | Respond to
**OT** India Business Briefs: Ranbaxy Mulls Buying US's SidmakRanbaxy Laboratories Ltd. (P.RLB) has retained investment bank Warburg Dillon Read to scout for acquisitions in the U.S. and Europe and is currently examining the possibility of acquiring Sidmak Laboratories Inc. of the U.S. Global Telesystems Ltd . sold a 1.26% equity stake in Global Electronic Commerce Services, the e-commerce company, to Morgan Stanley Mutual Fund and India Magnum Fund. The sale price was INR250 ($1=INR43.57) per share for a total of INR500 million. Aptech Ltd. (P.AEH) , an information and software company, plans to list its shares on Nasdaq by the middle of 2001, Press Trust of India reports. Aptech plans to raise INR2 billion through a combination of domestic and international offers and use the funds for its expansion and acquisition programs, the report said. Ranbaxy Laboratories Ltd. (P.RLB), a pharmaceutical company, plans to focus on rural markets for future sales growth, the Press Trust of India reports. The company plans to start its new sales campaign in Bihar and Rajasthan states and will later expand to other rural states. The Steel Authority of India Ltd . (P.STA) indicated it would increase the prices of steel products next month to achieve its INR180 billion sales target in the next fiscal year beginning March 31, the Press Trust of India quoted the company's chairman as saying.
