Business Daily from THE HINDU group of publications
Friday, Sep 07, 2007
ePaper
Business Daily from THE HINDU group of publications Friday, Sep 07, 2007 ePaper |
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Markets
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Announcements
Our Bureau Coimbatore, Sept. 6 Aurobindo Pharma Ltd has received the Establishment Inspection Report (EIR) from the US FDA stating their acceptance of the company's sterile injectable formulation facility in Chitkul village, near Hyderabad. This is the third successive USFDA approval for Unit-6. Cadila Healthcare Ltd has also received approval from the US FDA to market Carvedilol Tablets 3.125 mg, 6.25 mg, 12.5 mg. and 25 mg., in the US market. The drug is prescribed for cardiovascular treatment and the product was launched on the very first day after receiving USFDA approval. Hindustan Dorr Oliver Ltd has won contract for Rs 77 crore from National Aluminium Company Ltd as part of expansion of its alumina refinery at Damanjodi, Orissa, from 1.575 million TPY to 2.1 million TPY capacity. Meanwhile, Hydro S&S Industries has decided to authorise the company to take necessary steps to evaluate various options to restructure the company. This will help in to make making it the company more structurally-efficient and to will be able to respond to the growth challenges in the medium-term horizon. The restructuring can also and raise funds not exceeding Rs 30 crore for the expansion of its existing facilities, implementation of the two projects at in Maharashtra and West Bengal in the first phase, and such other new locations as required. K S Oils Ltd has entered into a joint venture with a 49 per cent stake in Malaysia for investments/acquisitions of palm plantations and/or manufacture of crude palm oil, and the joint venture company is in the process of acquiring its first plantation in that country. Mangalore Refinery & Petrochemicals Ltd has signed a four-year product supply agreement, extendable by another two years, with Shell India Marketing Private Ltd, which has been meeting almost all its fuel requirements from the company since 2004.The new agreement covers not only fuel supply but also infrastructure sharing and hospitality, and collaboration on health, security, safety and environmental management procedures and practices. Msk Projects (India) Ltd has received an order worth Rs 76.45 crore from Madhya Pradesh Road Development Corporation Ltd for execution of the Package-7 Khandwa-Khargone (SH-26) Road Project. Insurance Regulatory and Development Authority has issued certificate of registration to Future Generali India Life Insurance Company Ltd and Future Generali India Insurance Company Ltd, joint ventures between Pantaloon Retail India Ltd and Generali - Italy, to transact life insurance business and general insurance business, respectively. Ranbaxy Laboratories Ltd has received approval from the US Food and Drug Administration to manufacture and market Carvedilol Tablets, 3.125 mg, 6.25 mg, 12.5, and 25 mg. Total annual market sales for Carvedilol tablets were $ 1.6 billion. Reliance Communications Ltd has launched `money transfer' through mobile phones across the country through its tie-up with ICICI Bank. Through this arrangement, ICICI Bank's existing and potential customers can transfer money to their family and friends having an ICICI bank account anywhere in the country using their Reliance mobile phones. Ritesh Industries Ltd has received in principle approval from Beekman Helix India Consulting Private Ltd, whose principals/associates have exposure in real estate of US $40 billion, for bringing in FDI to the future real estate projects of the company, which are FDI compliant. Sadbhav Engineering Ltd has obtained orders worth Rs 196.5 crore for two road projects from the Madhya Pradesh Road Development Corporation Ltd. Sree Sakthi Paper Mills Ltd has decided not to set up 2 MW cogeneration plant since it was not found financially viable and the board has recommended the usage of funds of Rs 7 crore raised for the cogeneration plant project for other purposes. Sintex Industries Ltd acquires the automotive products business of Bright Brothers Limited Ltd that has 5 five units in an all-cash transaction valued at Rs 148.9 crore.
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