ACC Q1 net rises 54 pc
Mumbai: ACC has reported a 54.51 per cent increase in net profit at Rs363.75 crore for the first quarter ended March 31, 2007 against a figure of Rs235.42 crore reported in Q1FY06.

The total income of the company rose to Rs1,703.22 crore for the quarter ended March 31, 2007 from Rs1,375.75 crore in the quarter ended March 31, 2006.
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Nissan eyes small car market
New Delhi: Japan's Nissan Motor is said to be eyeing India's growing small and compact car market. The company plans to manufacture compact cars from its Chennai facility, currently being set up under a three-way joint venture (JV) with Renault and Mahindra & Mahindra.

Nissan's presence in India at the moment is limited to sports utility vehicles (SUVs) and luxury sedans. Recently Nissan introduced its luxury sedan Teana priced at Rs20.47 lakh ex-showroom Delhi, Chennai, Banglore and Hyderabad, and slightly higher at Rs 20.67 lakh in Mumbai.

Nissan's luxury sedan Teana is targeted at the growing high-end car market in the country.

The company's Chennai plant will go onstream in two years. In this period the company will look at enhancing its portfolio of imported cars through the completely built-up unit route.

The luxury sedan Teana would be fully imported from Nissan's Kyushu plant in Japan, and is powered by a 2.3 litre petrol engine. This is the company's second offering for the Indian market after its sports utility vehicle 'X-trail'.

Nissan Teana will compete against the Honda Accord and Toyota Camry which are priced similarly.
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Zydus Cadila to acquire Japan's Nippon Universal
Ahmedabad: Ahmedabad-based Cadila Healthcare (Zydus Cadila) has announced the acquisition of the Tokyo-headquartered, privately-held Nippon Universal Pharmaceuticals but did not disclose the acquisition price.

The Japanese generics market is valued at $3 billion and has great potential as it currently stands at just 5 per cent of the total pharma market in Japan in value terms and 17 per cent by volume.

The acquisition will give Zydus Cadila critical access to a ready manufacturing and marketing base and as a strong distribution reach. Nippon reaches out countrywide to more than 4,000 hospitals and clinics in Japan which will provide a fillip to the group's operations in a market that is highly complex and dominated by local pharma companies.

The Nippon acquisition provides the group an opportunity to establish itself in Japan's rapidly evolving generics space.
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Philips India eyes acquisitions
Kolkata: Philips India is looking at acquisitions in sectors such as lifestyle electronics, healthcare and medical systems. The company would fund the acquisitions from internal accruals and borrowings.

Speaking to newspersons at the conclusion of the company's 77th annual general meeting MK Ramachandran managing director Philips India said the company also expected growth to come from its luminaires, compact fluorescent lamps, medical products and domestic appliances businesses.

In the current year, Philips India would make a capital expenditure of Rs50 crore and had current reserves of Rs697 crore.
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Praj signs joint venture with Aker Kvaerner
Mumbai: The Rs600-crore Praj Industries plans to enter into a 60:40 joint venture with Netherlands-based Aker Kvaerner Netherlands BV. It is also looking to acquire a Brazilian company to establish a foothold there.

Praj Industries specializes in setting up cane molasses-based ethanol plants and offers technology for a wide range of feedstock, including cane juice and syrup, beet juice and starch-based raw materials such as grains and tubers.

An engineering and construction major, the Netherlands partner offers expertise from concept studies to design, engineering, project management, technology delivery, procurement and maintenance services.

The JV is intended to blend Kvaerner's execution capabilities and extensive European market knowledge with Praj Industries' technological expertise.

The company is also setting up an R&D facility about 20 km from its existing premises on the outskirts of Pune, with a capex of Rs40 crore. Funds for the purpose will be met through internal accruals and preferential share allotment.

For the year ended March 31, 2007, Praj industries' total income more than doubled to Rs616. 40 crore (Rs270 crore), and PBT and PAT recording a threefold rise at Rs110 crore ( Rs32.38 crore) and Rs86.52 crore (Rs24.41 crore), respectively. Its Board on Wednesday announced a 1:1 bonus share.
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Biocon Q4 net rises 27 per cent to Rs61 crore
Bangalore: Biocon Ltd has registered a consolidated net profit of Rs61 crore for the fourth quarter ended March 31, 2007, up 27 per cent from Rs48 crore during the corresponding period last fiscal. The company has seen a 30 per cent topline growth in the quarter to Rs279 crore against Rs215 crore.

The company has announced a dividend of Rs3 per share(on face value of Rs 5). Driven by its research services business and licensing income, the company saw its net profit for FY07 grow by 15 per cent to Rs200 crore while total income rose by 25 per cent to Rs990 crore.

Kiran Mazumdar-Shaw, CMD, Biocon said from London, "going forward, our research services, brand formulations and biopharmaceuticals segments are going to be important drivers for the company. In the next 3-5 years, our revenues will reflect this — one-third of it coming from research services, another one-third coming from drug discovery and new product development while remaining will come from formulations and generics business.''
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