Month: August 2007

Sical Logistics has sold the manufacturing facilities and assets of its auto components division, indrad auto components, for Rs 14.69 crore to Lucas TVS, one of India’s largest auto electrical manufacturing companies.

With this asset disposal, the total funds realized by the company since the start of the dis-investment process, in 2006, have gone upto Rs 90.18 crore. The exit from the facilities of the auto components division, part of the non logistics business of the company, is in continuation of the company’s strategy to exit its non core businesses and focus on the core business of logistics. The company had been in talks with a number of global majors but zeroed in on the TVS group because of business synergies and the fit of the facilities to TVS’s growing needs.

Jai Corp Limited announced before the market hours today, 8 August 2007 that a meeting of the board of directors of the company will be held on 09, August 2007 to consider issue of bonus shares. The book value per share is a healthy Rs 392.63.

The company’s current equity is Rs 8.63 crore, with 86.3 lakh outstanding shares of a face value of Rs 10.

The current market price of Rs 5061.70 discounts its Q1 June 2007 annualised EPS of Rs 157.78, by a PE multiple of 32.08.

Strides Arcolab has announced its first ANDS approval for ondansetron injection 2 mg / ml. Ondansetron is a first amongst various sterile submissions the company has submitted with health Canada and the product is licensed to an undisclosed partner in Canada and expects sales to commence in Q4 2007.

Kale Consultants has announced the company’s acquisition of privately held Zero Octa, the largest and leading provider of airline revenue assurance, protection and audit services world wide.

Zero Octa, headquartered in London, is a strategic addition to the company’s revenue management portfolio aimed specifically at the airline industry. The acquisition will extend the company’s revenue management, protection and revenue integrity service capabilities and also significantly increases the company’s airline client base. Zero Octa offers a fully managed end-to-end solution that works in conjunction with an airlines’ existing processes to maximize the efficiency of their systems, processes and personnel.

The acquisition will make Kale Consultants not only the leading, but also the largest provider of revenue management and accounting solutions globally. With over 200 domain, technology and software professionals and 1100 processing staff the company will have the largest pool of expertise in this space globally.