Owner: Stock Picking - Art Or Science URL:http://multibaggers.blogspot.com Join Date: Sun, 02 Sep 2007 01:09:27 -0500 Rating:0 Site Description: I have created this Blog to help those who do not have access to good Stock Analysts and would like to Invest in Indian Stock Markets. There is a lot of money to be made by investing in Indian Companies. This Blog will help identify good companies in Indi Site statistics:Click here
Suashish - Diamonds Are Forever 2007-09-01 00:44:00 Suashish Diamonds
Triples Its Net Profits In Q2 2007Suashish Diamonds Limited, one of India’s leading diamond and diamond jewellery manufacturing and exporting groups, declared its financial results for the 2nd quarter ending 30th June 2007.During the quarter, the company achieved a turnover of Rs.182.56 crores and tripled its PAT (profit after tax) from Rs.8.37 crores in 2006 to Rs.26.33 crores in 2007. in terms of year to date (YTD) H1, the company has also witnessed a topline growth in excess of 10% from Rs. 374.08 crores to Rs. 412.94 crores.Ashish Goenka, Managing Director of the Suashish Diamonds said, “the company has performed exceedingly well, inspite of a marginal drop in y-o-y topline, the company continues to strengthen its bottom-line. we continue to focus on driving operational efficiencies, and enhance efforts to build our proprietary business”.The decision of going downstream with higher focus on jewellery sales through retail chains and through its brand Ishi’s Read more:Forever
Inox Leisure - Multiplexes In Fashion 2007-09-01 00:32:00 INOX Leisure
Records 31% YoY Increase In Net ProfitFinancial Highlights: 33% YOY growth in total revenues for Q12007-08 at Rs. 54.07 crores versus Rs. 40.53 crores in the same quarter of the previous year. EBITDA for Q1 is at Rs. 17.48 crores compared with Rs. 13.56 crores in the same quarter of previous year, a growth of 29 % . PAT has increased to Rs 10.96 crores versus Rs. 8.37 crores in Q1 2007, a growth of 31% Operational Highlights: Properties under operation up to 15 in Q1 2007-08 from 11. Screens under operation up to 54 in Q1 2007-08 from 41 . Footfalls up 38% to 2968373 in Q1 2007-08 from 2153818The Board of Directors of INOX Leisure Limited (ILL) announced its results for the first quarter of the financial year 2007-2008, following its meeting on Monday, 30 July 2007 in Mumbai. For the quarter ended 30th June 2007, INOX reported a 34% increase in total revenues from Rs. 40.53 crores in 2006-07 to Rs. 54.07 crores in 2007-08.The profit after tax for the quarter ended 30th Jun Read more:Fashion
Jagran Prakashan - Reaching To Masses 2007-08-01 01:54:00 Jagran Prakashan Q1 Net Up 51.62%Driven by significant advertising revenue growth, Jagran Prakashan Limited (JPL), publishers of Hindi daily 'Dainik Jagran', on Friday reported a 51.62 per cent increase in its net profit for the quarter ended June 30.The company said its net profit for the period under review stood at Rs 34.71 crore against Rs 22.89 crore in the corresponding period last year.The media house's total revenues for the said quarter stood at Rs 192.27 crore, an increase of 34.69 per cent compared to Rs 142.75 crore in the last fiscal."We dedicated our efforts towards strengthening Dainik Jagran and various other initiatives. We are pretty positive about future of the media industry in general and business in particular," JPL Managing Director and Chairman Mahendra Mohan Gupta said.The steady growth in the revenue has been driven by the significant growth in advertisement revenue, which grew by 42 per cent, at Rs 126.74 crore from Rs 89.22 crore, it said, adding revenue Read more:Reaching
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Jindal Stainless - Robust Performance 2007-08-01 01:48:00 Jindal Stainless June Qtr. Net Jumps 63%Jindal Stainless Ltd., India's largest stainless steel maker, on Monday reported a 63 percent rise in net profit for the quarter ended June on higher sales and cost-cutting measures, a senior official said.It reported a net profit of 826 million rupees on net sales of 11.97 billion rupees for April-June.A key factor has been the company's ability to produce cost-effective products and its flexibility to meet market requirements, Ratan Jindal, vice-chairman and managing director, said."During the quarter, we experienced diversified demand for stainless steel from both new and existing customers across key verticals and geographic markets," Jindal said. Read more:Jindal
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Greenply - Green Is The Colour Of Money 2007-08-01 01:40:00 Greenply Industries Q1 Net Profit Up 101%Strong sales growth across its product categories of plywood, laminate and decorative veneer helped India’s largest interior infrastructure manufacturer Greenply Industries Limited (GIL) report a revenue of Rs 116 crore for the quarter ended June 30, 2007, representing a growth of 37% over the corresponding period last year. The company had posted a revenue of Rs 84.60 crore for the quarter ended June 30, 2006.Against a net profit of Rs 4.51 crore for the quarter ended June 30, 2006, the company has posted a net profit of Rs 9.07 crore during Q1 2007-08; a growth of 101%.According to GIL Joint Managing Director Saurabh Mittal, a combination of higher capacity utilisations, rupee appreciation resulting into reduced raw material cost, benefits of excise reduction, improved product mix and visibility and buoyancy in the market had led to the improved margins.“Greenply”, he added, “has a range of products that has given us the status of a on Read more:Green
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Yes Bank - Net Soars 114% 2007-08-01 01:31:00 Yes Bank Q1 Earnings Jump 2.13 TimesYes Bank registered a substantial 2.13 times growth in earnings for the quarter ended June 2007, helped by strong revenue growth. During the quarter, the company witnessed a rise in profit to Rs 360 million from Rs 168.8 million in the same quarter, last year.Interest earned for the quarter climbed 2.95 times to Rs 2,725.3 million, while the total income for the quarter rose 2.69 times to Rs 3,484.9 million, when compared with the corresponding quarter, a year ago.The earnings per share for the quarter climbed 2.05 times to Rs 1.29 compared with the same quarter, a year ago.During the quarter, the bank raised upper tier II debt of Rs 20 million to augment long term capital resources and to enhance the capital adequacy ratio (CAR) for successfully implementing its growth plans.Yes Bank is a private-sector bank, engaged in the business of providing corporate & institutional banking, business & retail banking and private wealth management services.
Asahi India - Class Apart In Glass 2007-08-01 01:28:00 Asahi India
Net Jumps 4.16 Times For Jun`07 QtrAsahi India Glass
reported a phenomenal jump in net profit for the quarter ended June 2007. During the quarter, the net profit of the company went up 4.16 times to Rs 207.20 million from Rs 49.83 million in the same quarter, last year.Net sales for the quarter ended June 2007 rose 30.21% to Rs 2,250 million from Rs 1,727.94 milion during the corresponding quarter, a year ago. Total income climbed 56.92% to Rs 2,724.9 million for the quarter ended June 2007 from Rs 1,736.47 million in the same quarter, a year ago.Operating margins decreased to 0.96% during the quarter, a fall of 684.60 basis points compared with the corresponding quarter, a year ago. Net margins, on the other hand, rose to 7.60% during the quarter from 2.87% in the same period, last year. Excluding extraordinary income (expense), the net margin is estimated to be at 9.35% for the quarter.The company`s earnings per share on a trailing twelve month basis is Rs 3.62. Read more:Asahi
Hitachi Home - Cool Quarter 2007-08-01 01:15:00 Hitachi Home & Life Solutions India Ltd Q1 Profit Rises To Rs.17.37 CroresHitachi Home & Life Solutions India Ltd has announced the following Un-Audited results for the quarter ended June 30, 2007.The Company has posted a net profit after tax of Rs.173.75 million for the quarter ended June 30, 2007 where as the same was at Rs.88.72 million for the quarter ended June 30, 2006. Total Income is Rs.1530.13 million for the quarter ended June 30, 2007 where as the same was at Rs.1173.16 million for the quarter ended June 30, 2006.The company has reported an Earnings Per Share (EPS) of Rs.7.57 for the quarter ended June 30, 2007 compared to Rs.3.86 during quarter ended June 30, 2006.The Company has revised estimated useful life of its certain asset as a result of this change additional depreciation aggregating of Rs 9.759 million (June 2006 quarter : Nil) is charged to the Profit and Loss account. Read more:Hitachi
3i Infotech - Bonus Awaits You 2007-07-31 02:40:00 3i Infotech - Net Jumps 88%3i Infotech a global provider of IT solutions and one of India’s largest software product companies, announced its operating results for the quarter ended June 30, 2007.FINANCIAL HIGHLIGHTSConsolidated results for the quarter ended June 30, 2007: Revenue for the quarter was Rs 264.2 crores, a growth of 98.3% over the corresponding quarter of the previous year. Profit before depreciation, Interest and Tax (including other income) for the quarter was Rs 66.3 crores, a growth of 94.5% over the corresponding quarter of the previous year. Profit after tax for the quarter was Rs 40.3 crores, a growth of 88.9% over the corresponding quarter of the previous year. Earnings per share (EPS) increased to Rs 6.41 from Rs 3.68 in the same quarter of the previous year. Commenting on the results, Mr. V. Srinivasan, Managing Director & CEO, 3i Infotech Limited said, “Our strategy of aggressive organic growth complemented by strategic acquisitions is paying rich dividends Read more:Bonus
WS Indusries - Net Up 146% 2007-07-31 02:34:00 WS Industries - Now Also Listed At NSEWS Industries India Ltd has announced the UnAudited Financial Results for the quarter ended June 30, 2007.The Company has posted a profit after taxes of Rs.39.45 million for the quarter ended June 30, 2007 where as the same was at Rs.16.03 million for the quarter ended June 30, 2006. Total Income is Rs.476.88 million for the quarter ended June 30, 2007 where as the same was at Rs.394.61 million for the quarter ended June 30, 2006.The company reported an Earnings Per Share (EPS) of Rs.1.8 for Quarter ended June 30, 2007 compared to Rs.0.75 reported during Quarter ended June 30, 2006.The proceeds of the equity / preference issues made by the Company are being used for the purpose for which they were raised. Income from temporary deployment of these proceeds have been netted against Capital Work in Progress.
Patel Engineering - Wait For Value Unlocking 2007-07-31 02:14:00 Patel Engineering posts 34.46% jump in cons net profit at Rs 27.04 crore versus Rs 20.11 crore YoY. Consolidated income from operations rose 33.07% at Rs 415.25 crore Vs Rs 312.06 crore. Revenues includes: 50% from Hydro projects, 30% from Irrigation and 8% from road business.As on June 30, 2007, company’s order book position above Rs 5,000 crore. Company has pre-qualified for new projects worth in excess of Rs 6,000 crore as on June 30, 2007. Company bagged order worth USD 153 million in Algeria from Agence Nationale Des Barrage Et Transferts (ANBT – Algeria).Floated wholly owned subsidiary Patel Realities India Ltd (PRIL) for real estate development. Company currently owns more than 500 acres of urban land bank in Bangalore, Chennai, Hyderabad, Mumbai and other cities. Real estate revenues starts reflecting from FY09. Working capital is of 150 days current cash at Rs 175 crore including Rs 100 crore from unutilised funds from FPOs Rs 30 crore revenues from Joint Venturs. Debt equ Read more:Patel
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FCI Delisting - Boon Or Bane 2007-07-20 08:25:00 One more buy back and one more delisting from the cluster of shares I like. I am talking about FCI OEN Connectors. The said company is getting delisted and the exit price is Rs. 700.00. I have recommended the stock at Rs.408.00 and those reading this blog regularly, would have made profit.But, I have a thing against Delisting. I really don't like when companies go for delisting because it forces us to part away with some of the most beloved treasures. In the past I had to surrender my holdings in Cadbury's, Philips and many more. An investor sows the seed in a good company and when it starts to bear fruits the company goes for delisting. This should be stopped and rules should be changed. Similarly, defaulter companies should be punished heavily instead of delisting shares.There are three types of delistings. This is either when a substantial acquisition of shares by acquirer (where the public holding dips below requisite levels) takes place and an exit offer made, or through mergers
Jagran Prakashan - Excellent Results 2007-07-10 23:16:00 Jagran Prakashan Net Profit Up 140 % At Rs 76.22 CroreJagran Prakashan Limited (JPL), publishers of Dainik Jagran, has acquired a net profit of Rs 76.22 crore, which is up by 140.45 per cent from Rs 31.70 crore in the corresponding period of last year. JPL has reported total revenues of Rs 622.98 crore for FY07, an increase of 27.95 per cent as compared to Rs 486.88 crore in FY06.The EPS for the year was Rs 12.65, as against Rs 6.23 at the end of FY06. The performance of the company in the last quarter of FY07 was commendable with total revenues increasing by 29.71 per cent to Rs 170.25 crore, as compared to Rs 131.25 crore in Q4 FY06. EBIDTA and net profit increased by 28.58 per cent and 42.53 per cent to Rs 33.96 crore and Rs 18.09 crore respectively in the quarter ended March 31, 2007.In the last fiscal, JPL saw significant revenues from out-of-home advertising and event management activities, which was over Rs 30 crore. During the year, the JPL made two new launches -- a bilingual
Emami - Good Results 2007-07-10 23:12:00 Emami FY07 PBT Up 44% On Strong ExportsEmami, one of the leading players in the personal and health care industry, reported a 44% growth in profit before tax (PBT) at Rs 74.5 crore for the year ended March 31, 2007 (FY07) as against Rs 51.6 crore in FY06.The turnover for the company grew 27% at Rs 516 crore as compared to Rs 407 crore in FY06. Emami attributed this growth to its growing FMCG business and newer launches last financial year.During the quarter, the company saw 39.91% rise in profit to Rs 221.90 million from Rs 158.60 million during the quarter ended March 2006.Net sales for the quarter rose 54.24% to Rs 1,499.40 million from Rs 972.1 million during the corresponding quarter, a year ago.Operating margins fell to 14.12% during the quarter, a fall of 24.17 basis points compared with the corresponding quarter, a year ago. Net margins, on the other hand, fell to 14.74% during the quarter from 16.24% in the same period last year.The brands Navratna Oil and Boroplus Antiseptic C
Jain Irrigation - Gets Mango Pulp Order 2007-06-27 05:17:00 Jain Irrigation Secures Rs 84 Crore Mango
Pulp Order
Jain Irrigation Systems Ltd has announced that the Company has bagged the largest order for Rs 84 crores from Hindustan Coca Cola Company for supply of mango pulp. Compared to the order of Rs 33 crores last year, this is a quantum jump. Coke bottles Mango drink in India under the most popular brand name of Maaza.The Mango pulp business is expected to exceed a turnover of Rs 160 crores this year based on additional export orders in hand. Entire order will be processed in the current mango season. The Fruit & Vegetable Processing Division is expected to register more than 50% growth in the current financial year.The Company has five plants for fruits & vegetables in the vegetable processing in India and one in USA. The Company is expecting to process in excess of 75000 MTs of mangoes in the current season registering 60% growth in amount of quantity processed. The Company is a major supplier to many MNCs and to global leading bevera
Sangam India - Ties Up With Riopele Texteis SA, Portugal 2007-06-21 05:16:00 Sangam India
Ties Up With Riopele Texteis SA, Portugal
For Supply AgreementSangam India Ltd on June 21, 2007 has announced that it has entered into a strategic supply agreement with Riopele Texteis S.A. Portugal-based Riopele, with an annual turnover of Euro 64 million, is one of the largest manufacturer of high value added polyester-viscose bi-stretch yarns and fabrics Company. It has composite production facility and is a leading supplier to various leading retail chain in Europe and USA.Under the agreement, Riopele Texteis will outsource high value added polyester viscose bi-stretch lycra fabrics from the Company. In turn, the Company will outsource technical expertise and designing pattern from Riopele Textels S.A. Initially, the agreement will be for period of one year and subsequently renewed mutually based on performance.Explaining the rationale behind the tie-up, Mr. R P Soni, Chairman of the Company said, "This is the first step towards our vision to expand in the global marke
SREI Infra - Net Jumps 98% 2007-06-19 23:14:00 SREI Net Up 98% As Core Sector BoomsSREI Infrastructure Finance Ltd has posted a 98 per cent growth in net profit for the quarter ended March 31, 2007 at Rs 31.5 crore as compared to Rs 15.9 crore in the corresponding quarter previous year.Hemant Kanoria, vice-chairman and managing director, SREI said higher business growth led to larger disbursements. "We are now in a position to increase our presence in the infrastructure sector exponentially through our recent association with BNP Paribas Leasing Group, the worldwide leasing financing arm of BNP Paribas," Kanoria said.With the new venture the company will be able to increase assets under management to Rs 15000 crore, Kanoria said. The new venture will formed in another 90 to 120 days time. The association with BNP Paribas will help SREI Infrastructure to bid for more road, power and port projects.The company is also thinking of increasing its portfolio into the medical equipment arena, where BNP has years of expertise. The total inc
Simplex Infra - Order Book Set To Swell 2007-06-19 23:08:00 Simplex Infra Expecting Huge Order
According to sources, Simplex Infrastructure may be gearing up to bag another Rs 1000 crore from West Asia. The order may be for a housing project. Simplex Infra will execute the order in two to three years.Simplex Infra management had tendered for few other orders, but refused to divulge details. The company's current order book is at about Rs 7,000 crore.Simplex Infra had recently bagged a Rs 1,000 crore order from two overseas companies. But they are eyeing a fresh order of the same size in the Middle East. Sources say they are in the final stages of negotiation.This order will contibute to about 12-15% of their current order book size of Rs 7,000 crore. Housing projects contibute around 28-29% of Simplex Infra's revenues. Operating profit margins are expected to be better than normal, around 12-13%. And it is expected to be a paid contract and not BOT.If this order is executed, the revenues coming from the Middle East will go up from 30% to 35%.
International Combustion - Dark Horse 2007-06-04 23:05:00 International Combustion
Became Debt Free, Margins ImprovedThe revenues of International Combustion India Ltd (ICIL) grew by 15.6% year on year (yoy) to Rs24.1 crore in Q4FY2007. The revenues of the heavy engineering division (HED) grew by 24.8% yoy to Rs18.4 crore while that of the geared motor and geared box division (GMGBD) declined by 5.1% yoy to Rs5.9 crore. However, on a sequential basis the GMGBD's top line grew by 61.2%.The operating profit margin (OPM) of the company improved by 280 basis points yoy to 20.3% in Q4FY2007, in line with our estimates. The margin expansion was driven by a lower raw material cost as the raw material cost as a percentage of sales ratio declined to 51% from 56.3% yoy. Consequently, the operating profit grew by 34.6% to Rs4.9 crore.The margin of the HED improved by a whopping 1,340 basis points yoy to 32.6% while that of the GMGBD declined by 1,800 basis points to 14.7%. The GMGBD's margin declined largely because the company started manufacturing t Read more:International
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Punj Lloyd - Slowly Becoming A Behemoth 2007-06-04 22:55:00 Punj Lloyd
To Build Nuclear Plants With GE & WestinghousePunj Lloyd Limited (PLL), a global EPC services provider in energy and infrastructure domains, has recorded consolidated income of Rs 5206 crore and consolidated net profit of Rs 196.03 crore for the financial year 2006-07. This is against consolidated income of Rs 1716.60 crore and net profit of Rs 54 crore for FY 2005-06.Punj Lloyd acquired 100% stake of Sembawang Engineers & Constructors during the year, which contributed Rs 2155.20 crore to revenues, Rs 42.40 crore to EBITDA and Rs 28.6 crore to net profit.On a consolidated basis, EBIDTA (Earnings before interest, depreciation, taxes and amortisation) for the fiscal was Rs 489.70 crore as against Rs 222.90 crore in the previous fiscal. The EBITDA margin in FY07 was 8.71 %.The basic and diluted EPS for FY07 stood at Rs 7.44 and Rs 6.91 respectively for Rs 2 paid up share. The board of directors have recommended a dividend of 15% for FY07, subject to the approval of shareho Read more:Slowly
, Becoming
SREI Infra - French Connection 2007-06-03 11:27:00 BNP Paribas Buys 50% In SREI Arm For Rs 775 CrBNP Paribas, France’s largest bank, will acquire 50% stake in the equipment financing business along with insurance broking (which is being spun off into a separate company) of Kolkata-based SREI Infrastructure Finance for Rs 775 crore.The deal, the first of its kind in the country’s booming infrastructure sector, will help SREI to unlock shareholder value, Hemant Kanoria, vice chairman and managing director, SREI said. “The market capitalization of the company is around Rs 600 crore. The deal values the equipment financing business of the company at Rs 1,500 crore, two-and-a-half times of its total market capitalisation,” he said.SREI is into project financing in addition to equipment financing, the main money spinner. It has Rs 5,000 crore of assets under its management.Both the companies today signed an agreement to this effect at a press conference in the city. Kotak Investment Banking advised SREI on the transaction while Ambit Read more:French
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3i Infotech - Wins Best Software Award 2007-06-03 11:15:00 3i Infotech, a global provider of IT solutions and India’s fourth largest software product company*, today announced that the company’s Anti-Money Laundering (AML) and Fraud Detection software – AMLOCK™ - has been adjudged the ‘Best Software
Product of 2006-2007’ by the Hyderabad Software Exporters Association (HYSEA).The prestigious HYSEA award recognizes 3i Infotech’s innovation in product development and the growth of the company’s presence in the space of Anti Money Laundering (AML) software. The awards are audited by Ernst & Young.Commenting on the win, Mr. Sheikh, Head – Capital Market, 3i Infotech said, “Post 9/11, global compliance standards have become increasingly important for financial institutions in order to check money laundering and run transparent businesses. Add to this RBI’s directive to Indian banks and the need for technology has become a global one. Hence, next generation solutions like AMLOCK would continue to play a pivotal role in chec Read more:Award
Patel Engineering - Bags Order From NHAI 2007-06-03 11:10:00 Patel Engineering's Order
Book Stood At Rs. 5000.00 CroreNational Highways Authority of India (NHAI) has awarded an annuity based build operate-transfer (BOT) project worth Rs518 crore to Patel Engineering Ltd.The is to be located on NH-7 in Andhra Pradesh under North-South Corridor (NHDP Phase II). Patel Engineering and KNR Constructions will jointly execute the project. The semi-annual annuity project will generate total revenue of Rs1,597.32 crore.The NHAI project work includes design, construction, development, finance, operation and maintenance of Islam Nagar to Kadtal stretch of the Nagpur-Hyderabad section on NH-7 in Andhra Pradesh under North-South Corridor (NHDP Phase II. The work also includes approximately 32km four-laning of the bypass out of 48km.Avccording to Rupen Patel, managing director, Patel Engineering, "We would focus on selective road development projects following government's new initiative to encourage private sector participation in the road sector developme Read more:Patel
Usha International - Pays 225% Dividend 2007-05-29 05:43:00 USHA INTERNATIONAL LIMITED Usha International
Limited, a Siddharth Shriram Group company, has recorded a healthy 38% increase in net profits for the year ending 31st March 2007 over the previous year. The company has demonstrated good performance and as per the company’s audited financial results, the net profits increased to Rs.14.28 crores this year from Rs.10.37 crores last year. Gross profit has been recorded at Rs.25.47 crores this year compared to Rs. 19.56 crores last year, an increase of 30%. Total turnover for the this financial year has gone up to Rs.661 crores from Rs.541 crores last year, an increase of 22%.As per the consolidated financial results of Usha International Ltd. and its subsidiaries, the net profits increased to Rs.18.29 crores this year from Rs.13.68 crores last year.During the year growths were registered across all product groups of the Company. The diverse products marketed by the company include fans, sewing machines, home appliances, agricultural and do Read more:Dividend
Jindal Stainless - Show Must Go On 2007-05-29 05:25:00 Jindal Stainless Net Zooms 2.8 Times For Mar`07 QtrJindal Stainless reported 2.82 times rise in net profit at Rs 921.2 million for the quarter ended March 2007 as compared with profit of Rs 326.9 million for the quarter ended March 2006. Net sales for the quarter rose 73.20% to Rs 14,324 million, compared with Rs 8,270.4 million for the corresponding quarter, year ago. Total income for the quarter was Rs 14,351.8 million as compared with Rs 8,343.2 million, a year ago. The earnings per share (EPS) of the company rose 2.34 times to Rs 6.84 as compared with Rs 2.92 a year ago.The company posted a 2.21 times jump in net profit at Rs 3,530.1 million for the year ended March 2007 as compared with profit of Rs 1,597.3 million for the year ended March 2006. Net sales for the year rose 53.23% to Rs 48,775 million as against Rs 31,831.4 million a year ago. Total Income also rose to Rs 48,964.3 million as against Rs 32,026.1 million a year ago. EPS for the year was Rs 26.76 as against Rs 14.26, Read more:Jindal
Suven Life Sciences - Keep Heart 2007-09-23 00:41:00 Suven, US Firm To Develop Cardiovascular DrugsHyderabad-based drug developer Suven Life Sciences
will soon sign a formal agreement with a top US-based pharma company to jointly develop new drugs for cardiovascular diseases. As part of this, Suven will soon expand its drug development centre to accommodate about 500 scientists.The company already has a drug discovery alliance with another US-based drug company, Eli Lilly.“We are in talks with an MNC for drug development in the area of cardiovascular diseases and hope to sign the memorandum of understanding (MoU) within a few months. We are, now, not in a position to disclose the identity of the partner,” said Venkat Jasti, chairman and managing director.The two firms would develop drugs from the pre-clinical stage, including drug discovery, screening, identification and optimisation of potential clinical candidates.Suven will expand its drugs discovery centre in Hyderabad with an investment of $25 million. Currently, the centre empl Read more:Heart
Simplex Infra - Plans To Foray Into Power Sector 2007-09-14 07:26:00 Simplex To Grow Through Power And Oil DrillingSimplex Infrastructures, one of the top-five infrastructure solutions providers in the country, plans to foray into power transmission EPC business in India and abroad. For this, it is looking for a joint venture with established companies in the field.“We are talking to a few players in India and abroad to join us as technical partners to form a joint venture. We are working on the construction of about five power plants in India and are bidding for the contracts of about 20-25 power plants coming up in India and abroad. Power and oil drilling will be a major area of growth for us in future,” said Amitabh Mundhra, director, Simplex Infrastructures.Indian manufacturers such as RPG group-promoted KEC International and Kalpatharu are already among the largest transmission EPC players in the world.The Rs 1,712 crore Simplex has an order book worth over Rs 7,000 crore, with over 25 per cent of the projects coming from the industrial infrast
Gitanjali Gems - Launches Ivida Technologies 2007-09-08 00:03:00 Gitanjali Gems Launches IT CompanyGitanjali Gems, a Rs 1,250 crore jewellery company, today announced its foray in the information technology (IT) sector. The company has floated Ivida Technologies, a wholly owned subsidiary, to launch its software, technology and telecom business.The subsidiary will be essentially engaged in web development, infrastructure management and enterprise resource planning (ERP). Explaining the rationale behind the move, Sam George, director, Ivida Technologies, said, "The company intends to tap opportunities in the retail boom and the IT sector in general."He also mentioned that technology will play a key role in Gitanjali’s expansion plans as the company is looking at automating all its retail operations.Apart from addressing the IT requirements of the group company, the subsidiary will also cater to its independent clients. George said, "The company has bagged some US-based jewellery clients for the web portal operations. We are also in talks with compa Read more:Gitanjali
Genus Overseas - Electricity Goes Pre Paid 2007-09-07 23:53:00 Genus Launches RFID Based Electric MetersGenus Overseas Electronics Ltd has announced that it has come out with a RFID based contactless smart card Pre Paid meter, which has distinct advantages over the conventional key paid based or plug in type card based Pre Paid Meters. The new developed product is in line with the 11th Power Plan recommendation on Pre Paid Meters.The new product will ensure advance revenue collection for the utilities and with the Government policies aligning to promote the concept will have a huge market potential in coming years.The pilots for the technology have already started in India and the product is getting an international acceptability. Recently Genus pre paid meters have been approved by Brazalian Utilities.Genus is providing the complete infrastructure in terms of vending station, servers and relevant software and in all probability will ensure a better revenue recovery model for Electricity Utilities.Genus is expecting very good orders for the afores
Elder Pharma - Going To Bulgaria 2007-09-06 10:51:00 Elder Pharma
Buys 51% In Biomeda Of Bulgaria
Mumbai-based Elder Pharmaceuticals has acquired 51% stake in Biomeda Group in Bulgaria for euro 5 million (around Rs 28 crore) in an all-cash deal. Biomedia has a turnover in the range of euro 10-12 million.With the acquisition, Elder will see the launch of many more products in Europe. Biomeda is Elder’s second acquisition in less than 45 days. Earlier, Elder bought 20% stake in London-based NeutraHealth through subscription of shares worth about Rs 47 crore."Biomeda is an unique acquisition. It is a manufacturer of oral dosage formulations. The acquisition will provide us the right entry vehicle to enter the Bulgarian market, leveraging Elder’s robust EU product portfolio and pipeline. Elder will enjoy a pan-European presence, covering all the key markets of Europe," said Alok Saxena, director (international), Elder."The Bulgarian market's skilled labour, which has an advantage in terms of lower labour cost compared to other European c Read more:Elder
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