News Capsules

Ranbaxy Laboratories, India’s biggest drugmaker, plans to scale down its operations in Europe in a bid to cut costs and return to profitability.

India's largest outsourcing firm Tata Consultancy Services (TCS) said that it will relocate staff abroad into India. However, the company would continue to do work onshore and relocation did not mean that it was winding up its operations abroad.

Dabur India Ltd is set to try and take the fizz out of Coca-Cola’s Fanta Apple and Parle Agro’s Appy. Dabur plans to enter the apple soft drink market this month.

Punj Lloyd is shifting its workforce from its UK-based subsidiary to India, particularly to its Delhi and Hyderabad centres, as an effort to cut costs amid global economic slowdown.

JSW Energy is close to acquiring a sub-Saharan African thermal coal mine, which has reserves of more than 200 million tonnes, to minimise dependence on other overseas companies.

Aptech Ltd, is betting big on the huge Brazilian market and has entered into a 51:49 joint venture with the Falgo group to set up IT training centres in that country. The investment in the Brazilian venture is pegged at USD one million. The company aims to have around 100 centres in LatAm in the next three to four years.

Indian arm of Swedish automotive component maker SKF is investing Rs 150 crore in a new ball bearings manufacturing plant at Haridwar.
Mumbai-based SKF India, 51% owned by SKF, had put the investment on hold for the past two years due to slowing demand.