Year: 2007

Larsen & Toubro in consortium with Paul Wurth has bagged a Rs 580.74 crore order from SAIL for Up gradation of blast furnace No 2 at Bokaro steel plant on a turnkey basis. ECC, the company’s construction division will execute this order and the company’s portion of this order its valued at Rs 355.02 crore.

Paul Wurth’s scope covers basic engineering, supply of proprietary and special equipment as well as technical service while the company’s scope includes detail engineering, supply of indigenous mechanical, electrical equipment and instrumentation works as well as complete site services encompassing civil, structural and erection works.

The turnkey project is to be completed in a stringent schedule of 21 months including shutdown of 150 days. The company has core expertise in rebuilding blast furnaces and is reputed for timely execution of similar projects in the past.

This partnership is expected to generate significant returns targeting the first premium income of Rs 100 crore after one year of the launch of operations. Cholamandalam MS, General Insurance Company is a joint venture between Murugappa Group and Mitsui Sumitomo Insurance of Japan.

In the first phase of the rollout plan, IndusInd Bank plans to enable at least 150 of its 172 branches to sell Cholamandalam MS policies.

IndusInd Bank’s net profit rose 30% to Rs 22.34 crore in Q2 September 2007 over Q2 September 2006.

Wanbury Limited, world’s largest producer of both Metformin, a diabetes management product and Salsalate an anti inflammatory drug has declared excellent results for the quarter ended 30th Sept 2007.

Wanbury’s consolidated turnover is up 146 % at Rs. 90.73 crore for the quarter ended 30th Sept 2007 against Rs. 36.84 crore for the same period last year. The Earning before Interest, Depreciation and Tax (EBIDTA) has appreciated 274 % to Rs. 20.50 crore over Rs. 5.48 crore, last year. The Profit After Tax has gone up 150 % to Rs. 8.89 crore as against Rs. 3.57 crore for the corresponding period last year.

During the quarter the company completed the acquisition of the generic division of Industrial Farmaceutica Cantabria. S.A. Spain. Also the company allotted 2,06,674 equity shares of Rs 10/- each at a premium of Rs. 128.43 per equity share, upon the conversion of 50 bonds of Foreign Currency Convertible A Bonds.