NEWS

PROMOTERS HAVE NO INTENTION TO REDUCE STAKE: DR REDDY'S MD

Promoters of Dr Reddy's Laboratories have no intention of diluting their stake in the company.

Earlier there were some reports that the Hyderabad-based Pharma major is likely to sell 5 per cent of its stake to UK- based GlaxoSmithKline (GSK).

Last year Dr Reddy's entered into an agreement with GSK for supplying over 100 branded drugs to be sold in Africa, west Asia, Asia Pacific and Latin America.

VIACOM 18 MEDIA LAUNCHES COLORS CHANNEL IN MIDDLE EAST

The country's leading entertainment conglomerate, Viacom 18 Media is launching its flagship channel Colors in the Middle East.

The channel will be broadcasted via direct-to-home platform through Arab Digital Distribution Company (ADD), a leading DTH player in the Middle East and the North African region.

The channel is an equal joint venture between Viacom Inc and Network18.

FOUR INDIAN-AMERICANS IN FORBES 400 RICH LIST

Four Indian-Americans Sun Microsystems co-founder Vinod Khosla Syntel's founder Bharat Desai Venture capitalist Kavitark Ram Shriram Software king Romesh Wadhwani.

The list is topped by Gates, which has retained his position as the richest man in America with a net worth of $54 billion, for the 17th year in a row.

Khosla ranks 308th, Desai ranks 252, Shriram occupies the 288th position and Wadhwani is on the 290th spot.

TATA MOTORS TO LAUNCH ARIA WITHIN A MONTH, MAY PRICE IT RS 10 LAKH

Tata Motors will launch Aria a cross-over between a multi-utility and sports utility vehicle within a month.

Aria will compete with Toyota Innova and M&M's Xylo.

The Aria sports a 2.2-litre common rail diesel engine and blends the functionality and comfort of a mid-range MPV with the all-terrain assurance and premiumness of an SUV.

Safety features include 6 airbags and Electronic Stability Program (ESP), offered by an Indian manufacturer for the first time.

ADANI WILMAR TO ENTER BRANDED COMMODITY MARKET

The makers of Fortune edible oil, Adani Wilmar Limited, are planning to enter branded commodity segments, including rice and pulses, under the health and wellness platform.

They have identified three categories—basmati rice, packaged daals and besan—for expanding our portfolio

The processed food market in India is estimated to be over $100 billion.