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Business Briefs

Forex kitty swells

Mumbai, Oct. 5: For the second consecutive week, India’s foreign exchange reserves continued to surge upwards to reach $ 62,721 million, up by $ 200 million for the week ended September 27. The upsurge in the forex reserves was largely due to revaluation of the us dollar vis-a-vis euro and fresh inflows.

Ranbaxy tieup

Alembic unit

Mumbai, Oct. 5: Alembic Ltd will launch an over-the-counter division by the month-end and has targeted a turnover of Rs 25 crore to Rs 30 crore from this strategic business unit (SBU). The company will also shift all its cough and cold brands and nutraceuticals into this SBU.


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