Category: Breaking Corporate India Earnings News

Ind Swift Labs has received the MHRA (UK) approval for its 100% export oriented global business unit located at village Jawaharpur, Punjab.

Glenmark Pharmaceuticals has also received approval from MHRA of UK for its state of the art semi-solids (ointments & creams) manufacturing plant at Baddi, Himachal Pradesh. This is the 3rd of the company’s manufacturing plants to have been approved for GMP by the UK regulatory agency – MHRA. This will enable the company’s foray into supply of creams and ointments in Europe soon. The Baddi plant had already received GMP approval from TPD, Canada, and is well on course to receiving USFDA approval in the near future, which would enable the company to enter the niche segment of semi-solid dosages in most of the regulated markets of the world.

The board of Indiabulls Real Estate has decided to issue up to 4,30,00,000 fully convertible warrants to the promoters and directors of the company on preferential basis for a sum of Rs 2,322 crore, which upon conversion would entitle them to acquire 4,30,00,000 equity shares of face value Rs 2 each at a conversion price of Rs 540 per equity share of the company for preferential issues.

The members of Hazoor Multi Projects have decided to increase the authorised share capital from Rs 10,00,00,000 to Rs 20,00,00,000.

The members have accorded their consent to the issue of 85,00,000 share warrants on preferential allotment basis, carrying an entitlement to subscribe to an equivalent number of equity shares of Rs 4 each, at a price of Rs 16 to promoter & its affiliates and non-promoter.

The board of Infosys Technologies will meet on 11 October 2007 to announce the Q2 results.

Wipro will provide integrated information technology (IT) services encompassing applications support, maintenance and infrastructure management services to Thames Water.

Meanwhile, yet another report suggests that Wipro’s business process outsourcing (BPO) arm is likely to buyout MarketRx, a pharma focused market analytics company. This acquisition will bolster Wipro BPO’s analytics practice, which at present accounts for less than 10% of its revenues. The New Jersey-headquartered $50-million MarketRx has over 25 clients, including Merck, Eli Lilly, Pfizer and Johnson & Johnson.

Panacea Biotec has inaugurated its greenfield construction vaccine formulation plant (VFP) in Baddi, Himachal Pradesh. The plant has been commissioned with several filling lines for bacterial and viral vaccines complying with WHO, cGMP norms for liquid vaccines in pre-filled syringes, liquid & lyophilized Vaccines in vials. The total production capacity of this facility is one billion doses per annum.

The company has also unveiled its new corporate identity on the occasion and the new identity displays a pole star and tag-line-innovation in support of life.

Sadbhav Engineering has been awarded the following project for contract price of Rs 245.24 crore for the work removal of over burden of first dig (solid) by hiring of HEMM such as excavators, dumpers, drills, dozers, graders and water tankers for composite work consisting of blast hole drilling, blasting, excavation, loading, transportation of broken rocks / soil / earth, dumping, spreading etc.

Complete including unloading spreading dozing, water sprinkling, grading etc. by mechanical means as per instruction of engineer in charge at specified places at Bina Extn OCP of Northen Coalfield (NCL).

Gremach Infrastructure Equipments & Projects has taken 75% controlling stake in 11 coal mine licenses in Mozambique having an aggregate 13,520 hectares in prime region of Moatize. This region falls in Karoo basin which is recognized as prime hard coking coal bearing area in Africa. There is a global shortage and crisis of hard coking coal and this will add huge value to the profitability of the company.

The company is planning to start prospecting of the area in the month of October, 2007 and will be complete by mid 2008. Expected reserves in the above mines are more than 200 million. With this acquisition, the company has entered into the list of selected club of few Indian companies like JSW, Tatas and Gujarat NRE Coke which has mines outside India.

The company’s group company Austral Coke & Projects is into manufacturing of low ash met coke and this acquisition will give raw material security which is a normal practice in Australia where Japanese and Chinese have invested for in-house captive consumption.

The board of Jai Corp has approved the proposal for acquisition of the manufacturing units of Pet Fibres producing PP HDPE woven sacks and bags and the manufacturing unit of prime wovens producing PP HDPE woven sacks, jumbo bags and PP staple fibres.

The board of Jai Corp has appointed Anand Jain as an additional director of the company.