The Hindu Business Line : Corporate Developments

Kochi Sept. 27 Subhash Projects & Marketing Ltd has announced that it has bagged orders worth Rs 353.60 crore, which is expected to sustain its high growth in core performance sectors such as water, power, and environment. The orders secured includes three water related projects from the Delhi Jal Board and PHED Jaipur, and two rural electrification projects from National Hydroelectric Power Corporation Ltd and one order for sewage treatment plant from the Nasik Municipal Corporation. The projects are expected to be completed in 14-21 months.

Sterlite Optical Technologies Ltd has announced the launch of its range of Al-59 Alloy Power Transmission Conductors compliant with the Swedish Standard SS241814; suited for high power transfer. The company had recently executed supplies valued at Rs 28 crore of these specialised conductors to Sweden.

Prime Focus Ltd has said that it has executed a term sheet with UTV Software Communications Ltd, whereby the company has agreed to acquire entire post production business including all related equipments and business contracts from the latter. In addition, UTV Software has also agreed to assign/transfer all rights, title, ownership and usage of the brand, mark and related intellectual property right in respect of the brand ‘USL’ in perpetuity in favour of the company. This would be subject to all regulatory and other approvals.

Sun Pharmaceutical’s US subsidiary, Caraco Pharmaceuticals Laboratories, has announced FDA approval to market Methimazole Tablets USP

Great Eastern Shipping Company Ltd has announced that it has signed a contract to sell its 1988-built single hull Aframax tanker ‘Jag Labh.’ This Japanese built ship of 96,551 DWT was acquired in February 2005. It is scheduled for delivery to buyers in Q3 FY 2007-08.

ABG Shipyard Ltd has informed that the company concluded the order for construction of 12 Handysize bulk carriers of 35,000 DWT each from Bereederungsgesellschaft H Vogemann GmbH & Co. KG, Hamburg, Germany for approximately $360 million (Rs 1,439 crore approx). With this, its aggregate order book now stands at Rs 7121 crore.

Rajesh Exports Ltd has said that a meeting of its board of directors will be held on October 22 inter alia, to consider the issue of bonus shares and splitting of existing equity shares of Rs 2 each to equity share of Re 1 each.

Garware Offshore Services Ltd has informed that the company’s Anchor Handling Tug Cum Supply Vessel , M.V. Garware II, which has come off its contract with ONGC has started work in the spot market and has been awarded contract on short-term basis at a charter rate which is approx 50 per cent higher.