Maruti registers 5 per cent higher sales in December
New Delhi: Car market leader, Maruti Udyog (MUL) has registered a 5.1 per cent rise in sales for December 2005 at 46,079 units, against 43,828 units in same month last year. The company's domestic sales grew 16.4 per cent at 43,251 units for December 2005 as compared to 37,153 units in the year-ago period according to the company.

MUL's exports on the other hand fell 57.6 per cent to 2828 units against 6,675 units in December 2004. The company's sales volume in the domestic A2 segment comprising of - Alto, WagonR, Zen, Swift grew 36.6 per cent in December 2005.
Back to News Review index page  

Bajaj Auto 2-wheeler sales up one per cent in December
Mumbai: Pune based Bajaj Auto has reported a marginal one per cent rise in total two-wheeler sales in December at 1,54,945 units, as against 1,54,101 units in the same month a year ago. The company saw a 3 per cent rise in motorcycle sales at 1,48,263 units in December as against 1,43,727 units in the same month in 2004, according to a company release.

Sales of three-wheelers increased by 26 per cent during December at 18,534 units as against 14,705 units in the same period a year ago.

Total two and three wheeler sales during December were up three per cent to 1,73,479 units as compared to 1,68,806 units in December 2004.
Back to News Review index page  

Dhampur Sugar declares dividend; announces investment plans
Mumbai: Dhampur Sugar Mills has approved expansion plans with an investment of Rs405 crore including a green field sugar project, expansion of power generation, refinery and alcohol manufacturing capacities at its existing sugar plants, the company said.

The company has also allotted 22.84 lakh compulsorily convertible preference shares (CCPS) of Rs100 each to ICICI Bank Ltd, it said. It has also declared a 10 per cent dividend for 2004-05.
Back to News Review index page  

TVS Motors two-wheeler sales up 11 per cent in December
Mumbai: TVS Motor Company has posted an 11 per cent growth in two-wheeler sales for December 2005 at 1,07,412 units as compared with 96,886 units in the same month last year.

The company's motorcycle sales increased by 8 per cent to 68,724 units during the month against 63,496 units registered in December 2004, the company said.

TVS Moped sales increased 22 per cent to 22,637 units in December 2005 compared to 18,524 units during the same period last year, it said adding that TVS Scooty sales increased nearly eight per cent to 16,051 units versus 14,866 units in the same month last year. Exports during the reporting month increased 41 per cent to 6,069 units, it said
Back to News Review index page  

BHEL receives Rs.800 crore order from NALCO
New Delhi: Bharat Heavy Electricals (BHEL) has received an order from National Aluminium Company (NALCO) to set up a 960 MW (8x120 MW) captive power plant at Angul district of Orissa. This is the tenth successive order Nalco has given BHEL.

Valued at Rs800 crore, Bhel won the order against stiff international competitive bidding (ICB), as its offer was found techno-economically the best.

This is the largest-value single order Bhel has ever received for a captive power plant. With the completion of the project in a tight schedule of 29 months, the installed capacity of the plant will go up to 1200 MW, making it Asia's largest captive power plant.
Back to News Review index page  

Israeli firm ties up with Alkem Labs to develop drugs
Jerusalem: Nasdaq listed Israeli drug firm, Taro Pharmaceutical Industries has joined hands with an Indian pharmaceuticals company to jointly develop drugs for the US and international markets.

Shmuel Rosenstein, the chief executive of the Israeli firm defined the agreement with India's Alkem Laboratories as 'a strategic arrangement' that would give Taro a competitive advantage in products for the US and world markets.

The announcement came a day after leading Israeli company, Teva Pharmaceuticals, announced the opening of a major research and development centre in Noida.
Back to News Review index page  

Orchid Chemicals receives USFDA approval for Cefprozil oral suspension
Mumbai: Chennai based Orchid Chemicals & Pharmaceuticals has received approval from USFDA for its ANDA (abbreviated new drug application) for Cefprozil for Oral Suspension USP, 125 mg /5 ml and 250 mg/5 ml.

An anti-biotic, Cefprozil, is the generic version of Bristol-Myers Squibb's broad-spectrum Cephalosporin antibiotic Cefzil.

The current US market size for Cefprozil oral suspension is US$120mn according to the company. The company is also launching the product in US through its marketing alliance partner, Par Pharmaceuticals (Par).

The company added that it has already received USFDA approval for Cefprozil Tablets USP 250 mg and 500 mg. The company has commenced its marketing in the US in a distribution alliance with Par.
Back to News Review index page  

Hero Honda posts six per cent higher December sales
New Delhi: Motorcycle major Hero Honda has reported a meager 6.02 per cent rise in domestic sales during December 2005, as compared to the same month last year.

The company clocked 2,38,822 units in December 2005 as against 2,25,250 units in the same month in 2004. Consolidated sales for the April-December 2005 stood at 21,55,479 units as against 18,92,540 units in the corresponding period a year ago, a growth of 13.9 per cent.

The company's exports grew by 14.19 per cent at 6,282 units in December 2005 as against 5501 units in the same month a year ago.

Consolidated exports for the April-December 2005 grew by 67.61 per cent at 72,815 units as against 43,441 units in the corresponding period a year ago.
Back to News Review index page  

Prajay Engineers approves increasing share capital
Mumbai: Hyderabad based construction company Prajay Engineers Syndicate has approved increasing the authorised share capital of the company to Rs35 crore from the existing Rs18 crore.

An extra-ordinary general meeting of the shareholders also approved a proposal to amend the memorandum and articles of association, it said.

The company is in the business of construction and has built diversified projects such as economy flats, deluxe flats, commercial complexes, independent houses, housing colonies, development of plots, farm houses, recreation club etc.

The share price of the company went up by 0.33 per cent at Rs92.50 at the close of trading hours today on BSE. The company had raised US$15mn by issuing 1,500 zero coupon foreign currency convertible bonds (FCCB) of US$10,000 each on Dec 22.
Back to News Review index page  

Skoda sales rise 56 per cent in Dec 2005
New Delhi: Volkswagen group company Skoda has reported sales of 789 vehicles in December 2005 a 56 per cent increase over the same period in 2004.

The wholly owned subsidiary of Czech automaker SkodaAuto said total sales in the year 2005 stood at 8,953 units, a growth of 25 per cent over the 7,202 units sold in 2004.
Back to News Review index page  

RPG transmission receives orders of Rs.73 crore Mumbai: RPG Transmission has received orders worth Rs73 crore from Power Grid Corporation of India (PGCIL) and Nigeria-based Group Five Constructions (PTY) for construction of power transmission lines.

PGCIL has placed an order worth Rs53 crore with the company, for supply and construction of 400 kv double circuit transmission line from Kudankulam to Tirunelveli over a distance of 80 kms.

The project is to be completed in 19 months.

Group Five Constructions (PTY) has placed an order worth Rs20 crore for construction of 132 kv double circuit line over distance of 42 kms from Ikot Abasi to Iket, in Nigeria, the company said.
Back to News Review index page  

Visa Steel files for IPO
Mumbai: Visa Steel plans to expand its operations and is planning to enter the capital market with an issue of 3.5 crore equity shares of Rs10 each at a premium to be decided through the book building process.

The company has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI), according to a press release.

The company says it would utilize the proceeds to finance part of the capital expenditure for brownfield expansion of existing manufacturing activities into an integrated 0.5 million TPA special and stainless steel plant at Kalinganagar Industrial Complex, Orissa.

The issue comprises of promoters' contribution of 50 lakh equity shares and the net issue to public will be 3 crore equity shares.
Back to News Review index page  

Shiva Texyarn to give 10 per cent dividend
Mumbai: Shiva Texyarn, the Coimbatore-based non-banking finanace company informed the stock exchanges that it would pay 10 per cent dividend to the shareholders for the year ended March 31, 2005.

The AGM also approved the new appointments of S V Alagappan as managing director for a period of five years with effect from June 27 last and the re-appointment of A Senthil and C Sivasamy as directors of the company, it said.

The share price of the company registered a 6.57 per cent increase at Rs 47.05 at the close of trading hours on the BSE.
Back to News Review index page  

Hindustan Zinc revises zinc prices
Mumbai: Hindustan Zinc, India's largest zinc producing company, has raised zinc prices by Rs1,300 per tonne (US$29) with immediate effect.

The firm also cut lead prices by Rs1,000 per tonne to 61,000 per tonne.

Company officials said, the company has raised high-grade zinc prices to Rs107,100 per tonne from a fortnight ago.

Shares in Hindustan Zinc, part of London-listed Vedanta Resources Plc, were up 0.6 per cent at Rs246.70 in a firm Mumbai market.
Back to News Review index page  

Sales of cars fall in 2005
New Delhi: Four-wheeler sales in the country fell to 6.9 per cent in 2005 against the high 24.6 per cent in the year ending December 2004 according to the year-end figures released by Society of Indian Automobile Manufacturers (SIAM).

However, motorcycles sales kept up the momentum on the two-wheeler front.

Due to floods in Maharashtra and Gujarat as well as stricter emission norms many carmakers in the country including Tata Motors saw demand slowing down in the year. Total car sales in 2005 stood at 8.58 lakh units against 8.02 units in 2004. Sales of utility vehicles and multi-purpose vehicles also fell to 8.9 per cent and 3.5 per cent respectively from a high of 25.3 per cent and 11.6 per cent in 2004.

Sales of commercial vehicles also fell to 9.04 per cent in 2005 from 28.3 per cent in 2004.
Back to News Review index page  

Nectar Lifesciences in Rs.100 crore expansion
Mumbai: Nectar Lifesciences, manufacturer and exporter of sterile and oral range of bulk drugs is investing Rs100 crore in expansion and upgradation projects.

The company has set up a commercialized manufacturing facility (Unit-III) for a large pharma MNC, where it would manufacture a key intermediate of a non cephalosporin active pharmaceutical ingredient (API), the company said.

The facility is USFDA, UKMCA compliant and is expected to get the approval soon, it added.

The company is building a presence in the high value generic markets and is already in discussion with many MNC's for their custom manufacturing projects and expect to finalize the agreements shortly. This market is estimated to be a US$30bn market by 2010, it said.

The company is also getting into areas like phyto-chemicals, contract research and custom synthesis in a big way. The company said phyto-chemicals would be a fully integrated greenfield operation with its own cultivation of speciality herbs, extraction and purification, thus, offering best quality herbal products.

The company has been into major investment mode for last 24 months and will continue for next 3-4 years.
Back to News Review index page  

US company acquires ICI India's rubber chemicals business
Kolkata: New Jersey-based PMC group has acquired a 51 per cent stake in ICI's rubber chemicals business in Rishra in West Bengal by forming a joint venture - PMC Rubber Chemicals India Private Limited. The PMC group has paid Rs25 crore for its 51 per cent stake in the business.

The US company would exercise call option at the end of 24 months, after which the remaining 49 per cent stake would also be purchased.

Based on the formula adopted for buying out, the US group would shell out Rs43.4 crore for acquiring all the assets and liabilities of the rubber chemicals division of ICI.
Back to News Review index page  

Aptech to raise FII holding to 74 per cent
Kolkata: Aptech has received the shareholders' approval for raising the FII holding in the company up to 74 per cent at its recently held EGM.

The approval for the increased FII holding, however, was subject to the condition that equity shareholding of each FII/sub-account of FII in the company would not at any time exceed the limits as may be prescribed by SEBI or such applicable authority from time to time.

The company board had earlier proposed an increase in the permissible FII investment limit from existing 24 per cent to 74 per cent in accordance with the provisions of the Foreign Exchange Management (transfer or issue of security by a person resident outside India) Regulations, 2000, it said.
Back to News Review index page  

ECL registers operational profit in the first nine months of 2005
Kolkata: For the first time ever, Eastern Coalfields (ECL), a subsidiary of Coal India, and a BIFR company, registered operational profits of around Rs43 crore in the fist nine months of the current financial year.

The company till December made a provisional profit of Rs43 crore against a loss of Rs242.06 crore during the same period in 2004, a press release issued by the company said on Monday.

The company has made a positive growth of 9.50 per cent in coal production during the 2005 compared to 2004.

The company said it expects to become net worth positive during 2009-10 and would come out of BIFR.
Back to News Review index page