Lupin receives USFDA approval for Topiramate tablets

Lupin has received tentative approval for the company's ANDA for Topiramate tablets, 25 mg, 50 mg, 100 mg and 200 mg from the US FDA.
Lupin's Topiramate tablets are the AB-rated generic equivalent of Ortho-McNeil's TOPAMAX tablets, indicated for the treatment of seizures. The brand product had annual sales of approximately $ 2.2 billion for the twelve months ended March 2008, based on IMS health sales data.
The company made this announcement during the trading hours today, 30 May 2008.

Max India reports net profit of Rs 20.22 crore in the March 2008 quarter

Max India reported net profit of Rs 20.22 crore in the quarter ended March 2008 as against net loss of Rs 3.82 crore during the previous quarter ended March 2007. Sales rose 97.01% to Rs 86.43 crore in the quarter ended March 2008 as against Rs 43.87 crore during the previous quarter ended March 2007.
For the full year, net profit rose 335.00% to Rs 61.90 crore in the year ended March 2008 as against Rs 14.23 crore during the previous year ended March 2007. Sales rose 83.02% to Rs 284.30 crore in the year ended March 2008 as against Rs 155.34 crore during the previous year ended March 2007.

ICRA recommends dividend

The board of ICRA has recommended dividend at the rate of Rs 5 per share. In addition, special dividend at the rate of Rs 5 per share is also recommended for the financial year ended 31 March 2008.
This was recommended at the board meeting held on 28 May 2008.

ICRA net profit rises 88.99% in the March 2008 quarter

Net profit of ICRA rose 88.99% to Rs 8.24 crore in the quarter ended March 2008 as against Rs 4.36 crore during the previous quarter ended March 2007. Sales rose 66.00% to Rs 17.43 crore in the quarter ended March 2008 as against Rs 10.50 crore during the previous quarter ended March 2007.
For the full year, net profit rose 65.40% to Rs 26.63 crore in the year ended March 2008 as against Rs 16.10 crore during the previous year ended March 2007. Sales rose 52.55% to Rs 60.70 crore in the year ended March 2008 as against Rs 39.79 crore during the previous year ended March 2007.

GMR Industries recommends 10% dividend, to acquire Alagawadi Bireshwar Sugars

GMR Industries Ltd has announced that the Board of Directors of the Company at its meeting held on June 03, 2008, inter alia, has recommended a 10% equity dividend and 8% fixed dividend on preference shares.Decided to acquire M/s Alagawadi Bireshwar Sugars Pvt Ltd., a Company which holds a license to set up and operate a 3500 TCD Sugar Mill at Raibagh in Karnataka.Approved the shifting of the Company's Registered Office from Hyderabad to Bangalore, subject to approval of the Members and confirmation of the Company Law Board.

ABB India wins Rs 295 crores orders for 1200 MW power plant from JSW Energy

Power solutions for improved system efficiency of JSW's plant in Ratnagiri, Maharashtra.Bangalore, 3rd June 2008: ABB in India has won orders worth Rs 295 crores to provide power solutions for JSW Energy for its upcoming 4 x 300 MW thermal power plant in Ratnagiri in the state of Maharashtra in Western India. The orders are for a range of power solutions including, electrical balance of plant, 400kV gas insulated switchgear (GIS) substation and generator transformers.ABB's solutions for the project comprise several leading edge power technologies for improved system efficiency. The modular eBoP solution for 300MW generating units will provide optimized and integrated solutions for complete plant electricals including shunt reactors, bus ducts, control and relay panels, MV and LT switchgear, other auxiliary systems and four 20kV generator circuit breakers (GCB), thus providing a further boost towards GCB scheme usages by thermal power plants in India.The 400kV GIS substation will provide substantial space saving due to its compact design. With all live parts enclosed and protected against negative influences the gas insulated switchgear ensures enhanced operational reliability and safety. ABB's scope of delivery also includes 20/420 kV generator transformers. ABB's transformers are designed and manufactured for high reliability, reduced life cycle costs and optimized electrical design for minimized losses.“We are proud of our long-standing partnership with the JSW Group. With this order we continue to build on this relationship”, said Biplab Majumder, Country Manager & Managing Director, ABB India, commenting on the order. “ABB's power products and systems will ensure safe and reliable operation of the plant while optimizing energy consumption of the equipment,” he added.JSW will feed the power produced through the power plant into the country's western grid. The JSW Group has a presence in the steel, power, cement, aluminium, software and infrastructure sectors.ABB (www.abb.com) is a leader in power and automation technologies that enable utility and industry customers to improve performance while lowering environmental impact. The ABB Group of companies operates in around 100 countries and employs more than 110,000 people.

L&T-Paul Wurth Consortium Commissions India's Largest Blast Furnace at Tata Steel Plant

Mumbai, June 02, 2008: The L&T-Paul Wurth consortium commissioned the largest blast furnace in India at Tata Steel Limited, Jamshedpur on May 31, 2008. This state-of-the-art Blast Furnace "H" has a volume of 3,814 Cum. with a rated capacity to produce 2.5 million tonnes per annum (MTPA) of hot metal. The project - the first of its kind in the country was completed in a record 25 months from the 'ground-breaking' ceremony, emphasising L&T's rapid pace of operations.The Blast Furnace "H" project was awarded to L&T and Paul Wurth, Italy, for design, manufacture, supply, erection, commissioning of the furnace, with auxiliary facilities on a turnkey basis.Paul Wurth's scope covered basic engineering, supply of proprietary and special equipment as well as technical supervisory services while L&T's scope spanned detail engineering, supply/manufacture of indigenous mechanical, electrical, instrumentation and automation works including complete site services involving civil, structural and erection works.The L&T-Paul Wurth consortium is currently executing two more 2.5 MTPA blast furnaces on a turnkey basis at Visakhapatnam Steel Plant and Bhushan Steel Plant, Meeramandali (Orissa), scheduled for commissioning in 2009 and 2010 respectively.The commissioning of Blast Furnace-H marks L&T's resolve to be a significant player in the steel industry in its quest to become 100 MT by 2011.

ICICI Prudential Life ties up with American Express

ICICI Prudential Life ties up with American Express
An effort to make customer interactions convenient and effortless


ICICI Prudential Life Insurance has announced a tie-up with American Express Banking Corp, a service initiative that would enable the private insurer's policy-holders across the world to pay their premiums online.
All ICICI Prudential Life policy-holders, who have an American Express Card, can log into the leading insurance company's website and make payment through American Express online payment gateway.
Alternatively, policy-holders also have the option to walk into any ICICI Prudential Life branch and make a one-time premium payment. Further, the policy-holder can also opt to give instruction for auto debit of his credit card for subsequent premiums.
ICICI Prudential Life's Executive Vice-President, Anita Pai, said "our partnership with American Express is yet another step in the direction of making customer interactions convenient and effortless."

Monsanto India

Monsanto India plunged 12.39% to Rs 1686.50 at 10:15 IST on BSE after the company’s shares started trading Rs 180 per share ex-dividend from today, 2

The BSE Sensex, meanwhile, was up 71.76 points, or 0.44%, to 16,487.33
On BSE, 1493 shares were traded in the counter. The scrip had an average daily volume of 1,364 5109 shares in the past one quarter.
Shares of India's third largest multinational agrochemicals producer by sales had hit a high of Rs 1845 and a low of Rs 1670 so far during the day. The stock had touched a 52-week high of Rs 2500 on 4 January 2008 and a 52-week low of Rs 1300 on 17 October 2007.
Monsanto India had outperformed the market over the past one month till 30 May 2008, advancing 12.62% compared to the Sensex’s decline of 5.04%. It had also outperformed the market in the past one quarter, rising 6.80% compared to Sensex’s decline of 6.62%.
The company’s current equity is Rs 8.63 crore. Face value per share is Rs 10.
The current price of Rs 1400 discounts Q1 June 2007 annualised EPS of Rs 267.86 by a PE multiple of 5.22.
Monsanto provides agricultural solutions. High-yield crop varieties and hybrid crops such as corn, sunflower and cotton are important crops that the company is committed to developing.
Monsanto India reported net profit of Rs 12.55 crore in Q4 March 2008 as compared to net loss of Rs 1.72 crore in Q4 March 2007. Net sales jumped 132.20% to Rs 50.13 crore in Q4 March 2008 over Q4 March 2007. The company’s net profit was boosted by 629.20% surge in other income to Rs 37.41 crore in Q4 March 2008 over Q4 March 2007.

Gail India forms new subsidiary "GAIL Gas Ltd"

Gail India Ltd has announced that a wholly owned subsidiary Company of GAIL (India) Ltd has been formed with the name of "GAIL Gas Ltd" on May 27, 2008.The stock was trading at Rs.400.25, up by Rs.7.95 or 2.03%. The stock hit an intraday high of Rs.403 and low of Rs.388.15.The total traded quantity was 188745 compared to 2 week average of 388973.

Essar Oil commences production in all units of 10.5 MMTPA Vadinar Refinery

Essar Oil Ltd has announced that all the units of the 10.5 MMTPA Refinery at Vadinar, District Jamnagar have been operating satisfactorily and the Company has decided commencement of commercial production with effect from May 01, 2008.The stock closed the day at Rs.223.65, down by Rs.6.40 or 2.78%. The stock hit an intraday high of Rs.235 and low of Rs.219.60.The total traded quantity was 2759513 compared to 2 week average of 3118047.