Ranbaxy Laboratories receives final approval from USFDA

Ranbaxy Laboratories (RLL) has announced that the company has received approval from the U.S. Food and Drug Administration to manufacture and market Glycopyrrolate Tablets USP, 1 mg and 2 mg. The office of Generic Drugs, U.S. Food and Drug Administration has determined the Ranbaxy formulations to be bioequivalent and have the same therapeutic effect as that of the reference listed drug Robinul 1 mg and Robinul Forte Tablets, 2 mg, respectively, of Sciele Pharma, Inc. The total annual market sales for Glyeopyrrolate Tablets were $26 million. Glycopyrrolate Tablets are indicated for use as adjunctive therapy in the treatment of peptic ulcer.

Ranbaxy Pharmaceuticals (RPI), based in Jacksonville, Florida, USA, is a wholly owned subsidiary of Ranbaxy Laboratories (RLL), India`s largest pharmaceutical company. RPI is engaged in the sale and distribution of generic and branded prescription products in the U.S. healthcare system.

L&T wins orders for electrical projects in the Gulf

L&T has bagged four EPC orders from Qatar, UAE & Oman aggregating US $ 217.45 million (Rs 1044 crore) for the construction of electrical substations for prestigious customers like Qatar Petroleum, Kharamaa, Dewa and Oetc. These projects will be executed by Electrical & Gulf Projects Operating Company (E&GP OC) part of L&Ts construction division.

L&T has secured an US$ 153.45 million (Rs 737 crore) EPIC contract from Oil & Gas major - Qatar Petroleum at Ras Laffan for the construction of four substations 132kV cabling, 33 kV & 11 kV power distribution including telecom network development etc., to be executed in 32 months. This project is one of the key phases of the overall development of Ras Laffan Industrial City in Qatar and the order was secured by L&T against stiff international competition. The company has also bagged an US $ 20 million (Rs 96 crore) order from Kahramaa, Qatar for construction of one 66/11 kV gas insulated substation (GIS) at education city, DOHA. L&T is already constructing 5 similar substations in Doha.

It has further secured an US $ 24 million (Rs 115 crore) order from Dubai Electricity & Water Authority (DEWA) in UAE for construction of one 132/11 kV GIS at Dubai. L&T is already constructing two similar substations here. L&T joint venture company (L&T Oman) has secured US $ 20 million (Rs 96 crore) order from Oman Electricity & Transmission Company (OETC) for construction of one 132/33 kV GIS substation at Nakhal Area, Oman. These orders mark a major milestone in L&T`s efforts in the electrical projects sector across the Gulf markets and consolidating its leadership position there.

Punj Lloyd secures order from Gail

Punj Lloyd has announced that the company has secured an order from Gail for a value of Rs 167,51,25,721 for laying, testing and commissioning of 145.43 km pipeline for Dahej Vijaipur pipeline upgradation project.

IVRCL recieves orders in roads, water & power sectors

IVRCL Infrastructures & Projects (IVRCL) has received orders to the tune of Rs 597.81 crore in transportation, water & power sectors in various States for State Governments and oil PSUs and power plants.

Major works include improvement / upgradation of Darbhanga—Kamtaul-Basaitha-Madhwapur Road (SH-75) length 47.00 Km awarded by Govt. of Bihar funded by Asian Development Bank (ADB), (completion period-24 months) valued at Rs 157 crore, constructing mechanised lining of Dhom Balkawadi Right Bank Canal awarded by Maharashtra Krishna Valley Development Corporation (completion period -24 months) valued at Rs 162.77 crore.

2500 MW HVDC Terminal Stations at Mundra and Mohindergarh for Adani Power Ltd awarded by Siemens, Gurgaon. The total completion period is 21 months valued at Rs 80.51crore, various building works amounting to Rs. 76.48 crore for IOCL Paradip and AP medical Housing infrastructure and external coal handling system for Mundra, Gujarat, awarded by FLSmidth Minerals, Tamilnadu. The total completion period is 17 months amounting to Rs 19.39 crore.

BSE launches 'BSE IPO index'

BSE announces the launch of a new BSE IPO index that will track the value of companies for two years after listing subsequent to successful completion of their initial public offering (IPO).

Robust growth of the Indian economy at 6.7% in 2008-09, and the expectation of higher growth in the future are expected to boost the primary market. For this and other reasons, it is an appropriate time to introduce to the market an indicator that will track primary market conditions in the Indian capital market.

BSE continues to introduce index innovations with the launch of the IPO index, by introducing ceiling (capping) on weightings of index constituents. Market capitalisation weightings of index constituents will be limited to 20%. If a constituent's market capitalization would result in a higher weighting, the company's weight will be suitably adjusted to ensure that no single company has a weight in excess of 20% in the index. However, between any rebalancing, weightage of any index constituent can exceed 20%.

NIIT Tech ranked no 1 in Black Book of Outsourcing

NIIT Technologies Ltd, the global IT services provider headquartered in New Delhi, has been ranked No. 1 in the Black Book of Outsourcing, a Datamonitor company's 2009 Travel Industry survey. 

The 2009 Travel Industry survey investigates over 240 contracts held by 1320 of the top airlines, travel agencies, airports, hotel chains, cargo companies and other travel corporations globally. Last year too, NIIT Technologies had received the Top Honors in the 2008 Travel Industry Survey. Commenting on the achievement Arvind Thakur, CEO, NIIT Technologies Ltd., said, "We are extremely pleased with our overall ranking. I am particularly proud of the faith our customers have exhibited in our abilities and services. Being acknowledged at the top spot for the second consecutive year is recognition of our commitment to the global travel sector and continued focus on delivering the best solutions for our clients.” 

According to the survey findings, NIIT Technologies won the Top Honors and excelled in the Travel Transportation and Logistics segment. The criteria for the rankings were on the grounds such as Trust, Scalability, Reliability and Process Orientation and hence, it positioned NIIT Technologies as a strong IT Services provider in the focused segment. 

The Travel, Transportation & Logistics vertical is a key focus of NIIT Technologies with 29 percent of its revenues arising from services to this sector. It serves more than 50 customers and offers them multiple business models to choose from. Narayanan Kallapiran, Global Head – Travel Transportation & Logistics, NIIT Technologies Ltd., said, “This is quite an accomplishment for our travel vertical. NIIT Technologies has extensive travel industry knowledge and deep understanding of unique technologies deployed by the industry. This Top Honors recognizes our long history of success and it is through the dedication and commitment of our team that we are able to deliver superior business results.” According to the survey findings, NIIT Technologies won the Top Honors by being ranked as No.1 in ITO, BPO as well as bundled ITO/BPO services. 

The survey ranked vendors on 18 key criteria and NIIT Technologies excelled in Innovation, Trust, Breadth of Offerings, Support and best of Breed Processes. The Black Book of Outsourcing's survey, together with Datamonitor's excellent research and consulting capability offers integrated, expertise-led, sourcing knowledge about the complex and dynamic outsourcing marketplace. The annual study recognizes excellence amongst global service providers that demonstrate superior management practices, leadership and outstanding performance."

Tata Communications has launched a revolutionary new product

Tata Communications has launched a revolutionary new product - Tata Indicom Extra-which allows all broadband / internet users in India to access Tata Communications' rich portfolio of value added services like Global Internet Roaming, Net Telephony, Wi-Fi, movies, music and over 150 business and home applications. 

This is the first time in India that VAS offerings of one ISP is being made available to all internet users even though they may be subscribers of other ISPs. 

"Tata Indicom Extra is indeed a unique first of its kind prepaid offering, which allows internet customers access to our entire bouquet of value added services like Global Internet Roaming, Net Telephony and content services. It is truly the breaking of barriers and offering ease and convenience of usage to service through a system which is ISP agnostic. This is yet another innovation in customer delight from Tata Communications which has pioneered India's Internet services," said Mehul
Kapadia, Head- Sales and Marketing for the Tata Communications Retail Business Unit. 

Tata Indicom Extra is a convenient product which a user can purchase offline or online, register, and start using. The prepaid cards can be bought in convenient denominations ranging from Rs 200 to Rs 6,500, giving complete freedom and ease to customers in selecting a service they wish to enjoy. These include access to over 500 Tata Indicom Wi.-Fi hotspots in India and over 100,000 globally, global internet roaming at over 160 countries, and a wide array of content services specially collated for home and business users like PC security, domain registration, music download, etc. 

"We have build upon a rich, unmatched portfolio of value added services through partnerships with other content providers and are happy to offer into all Internet users," added Kapadia. 

This new product from Tata Communications comes soon after the company has launched innovative night time tariff plans, and enabled easier global Internet roaming and access to its different in-house services, through the One World, One Account plan.

Sical Logistics has been handling vessels at JD V berth

Sical Logistics Ltd., India’s leading provider of multi-modal integrated solutions for the logistics of bulk and containerized cargo, has signed a Berth Reservation Scheme (BRS) agreement with the Chennai Port Trust for 20 years, effective from 26th February 1998. 

Sical Logistics has been handling vessels at JD V berth under BRS but was restricted until now to berth vessels with less than or equal to 10.4 meters draft. After the completion of dredging by Chennai Port, the draft has been deepened to 12 meters, providing Sical Logistics with the capability to berth vessels of 50000-52000 MT cargo capacity against the current capability of handling 25,000-30000 MT vessels.

The servicing of larger vessels coupled with reduced preberthing delays, improved port-to-port turnaround times, and higher berth occupancy is expected to raise the throughput of Sical's bulk logistics operations at Chennai Port by 2-3mn MT per year. In FY09, Sical handled 3.4 million MT of bulk cargo at Chennai Port.

Between august 18-21 this year, the JD5 berth received its first 12 meter draft vessel, MV Mokara Collosus. The vessel, for which Sical Logistics is the shipping agency, discharged 50940 MT of coking coal under contract with JSW Steel Ltd.

Sical Logistics is studying the feasibility of enhancing the handling equipment at the JD5 berth to receive gearless vessels to maximize loading /discharging economies for large importers and exporters.

Sayaji Hotels launches new restaurant at Jalandhar

Sayaji Hotels has announced that Barbeque-Nation Hospitality (a subsidiary of Sayaji Hotels) has launched its seventeenth restaurant on 20 August 2009.

The new restaurant has been set up at Jalandhar (Punjab) and is equipped with grills on table in live with company`s unique concept.

Sical Logistics signs MOU with MOL

Sical Logistics, India leading provider of multi-modal integrated solutions for the logistics of bulk and containerized cargo has announced that it has signed a memorandum of understanding with Japan`s Mitsui O.S.K. Lines (MOL) to operate the automotives management yard at Ennore Port, near Chennai. MOL is among the world`s largest shipping and logistics companies and considered among the leaders in global automotive transportation.

The MoU was signed by Takashi Kurauchi, managing executive officer, Mitsui O.S.K Lines, and L R Sridhar, managing director, Sical Logistics, in the presence of S Velumani, chairman cum-managing director, Ennore Port. The yard will manage automotives in CBU (complete built-up unit) form and will cater to automotive exporters / importers based in India. The proposed joint venture will combine the expertise of MOL in global automotives transportation and yard management with Sical`s competencies in multimodal integrated logistics and terminal operations.

Himalya International gets US$8.5mn from US EXIM Bank

Himalya International Ltd. has announced that US Exim Bank would participate in the company's Almond processing plant in Rajasthan. 

US EXIM Bank issued a 'Letter of Interest' for lending US$8.5mn to Himalya International at concessional rate of 4.37% per annum. The amount shall be utilized by Himalya International for its Rs1.2bn plant for Almond processing and frozen and freeze dried berries in Rajasthan.

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The company has already acquired 32 acres of land for the purpose at NH 8, 120 kms from Delhi. Almonds, Frozen & freeze dried berry fruits shall be imported from California, and shall be processed and value added for domestic Indian market and for exports to Gulf countries and South Asian countries.

BGR Energy Systems bags contract from NPCIL

Electrical Projects Division of BGR Energy Systems (`BGR Energy`), the EPC company for power projects has secured a turnkey contract from Nuclear Power Corporation of India, for implementation of 415 V motor control centers (MCC) package for Bharatiya Nabhikiya Vidyut Nigam (BHAVINI), the 500 MW prototype fast breeder reactor (PFBR) project at Kalpakkam, Chennai. The contract is valued at Rs 27.14 crore and will be completed over 12 months.

The scope of the contract includes supply of complete 415 V MCC panels and associated automation systems for the 500 MW plant. BGR Energy was successful against the only other qualified bidder, Larsen & Toubro in this tender. The Electrical Projects Division is currently executing another key system like medium voltage switchgear package for the PFBR project, Kalpakkam. In addition, Electrical Projects Division of the company is implementing 400 KV & 220 KV GIS project for 600 MW Mettur Project of TNEB.

ICICI Bank to launch IPOs in 4 subsidiaries: reports

ICICI Bank is reportedly considering launching initial public offerings (IPOs) in four subsidiaries or sell stake in its insurance ventures once the Government raises sectoral FDI limit. The bank will take a call on this matter once the laws are amended to hike FDI in the insurance sector from the present 26% to 49%, Chanda Kochhar, ICICI Bank CEO and Managing Director was quoted as saying.

She further added that it would help create value for the stakeholders, while pointing out that ICICI Bank's share price had increased three times in the last six months to about Rs750 a share. At this price, ICICI's market capitalisation is about Rs800bn compared to market leader SBI's about Rs1.20 lakh crores. ICICI is way off the peak of over Rs1,450. The bank would strive to do everything to add value in the group for the shareholders, Kochhar said.