Month: May 2007

With renewed buying in BHEL, the stock has pulled up from Rs 2429.55 on 11 May 2007, to Rs 2644

Around Rs 3200 crore of investment is planned by Bhel during the Eleventh Five-Year Plan period to increase manufacturing capacity from the current 6,000 Mega Watt (MW) to 15,000 MW per annum. The state-owned company would be spending about Rs 1,200 crore to augment its capacity to 10,000 MW by the end of 2007.

Bhel would also replace ageing facilities for improving product quality, reducing cost and cycle time and enhancing productivity, besides modernising and upgrading equipment at various power plant sites for meeting enhanced erection load and shorter commissioning schedules.

Bhel has set a target of increasing revenues to $10 billion from $4 billion as part of its `Strategic Plan 2012.’ The company has identified overseas business as one of its thrust areas in the plan, which is expected to be a key driver for turnover growth.

The order book is a healthy Rs 55,000 crore.

The current price of Rs 2644 discounts its FY 2007 EPS of Rs 97.40 (based on its provisional financial performance) by a PE multiple of 27.

Ranbaxy Laboratories has received approval from Canadian authorities to sell Ran-Pravastatin, a cholesterol lowering drug, in Canada.

IVRCL Infrastructures & Projects has bagged irrigation projects worth Rs 551 crore from Andhra Pradesh Government.

Sun Pharmaceutical Industries has signed definitive agreements to acquire Israel’s Taro Pharmaceutical Industries, for an all-cash deal of $454 million. The acquisition will be funded through internal accruals and proceeds from its earlier $350 million FCCB.

Taro Pharmaceutical is a multinational generic manufacturer with established subsidiaries, manufacturing and products across the U.S., Israel, Canada. North America represents more than 90% of Taro’s sates.