September, 2009 - FreePress India

Wyeth files case against Orchid for Piperacillin, Tazobactam

September 24, 2009 by Komal Meswani

Multinational pharmaceutical major Wyeth has filed a suit in the US District Court of Columbia against the USFDA relating to the agency’s approval of Orchid’s ANDAs for its generic products — Piperacillin and Tazobactam — for injections and also against the FDA’s decision on Wyeth’s Citizen Petition. Orchid, in a filing with the BSE, stated … Read more Wyeth files case against Orchid for Piperacillin, Tazobactam

Tata Power unlikely to meet Mundra UMPP target of 2012

September 24, 2009 by Komal Meswani

Tata Power Company (TPC), the power generation utility major belonging to the Tata Group, is unlikely to meet the completion target for the 4,000 MW Mundra ultra mega power project (UMPP) of March 2012. The company, which plans to set up five units of 800 MW each, will be in position to commission only 3 … Read more Tata Power unlikely to meet Mundra UMPP target of 2012

Larsen & Toubro meet F2010 guidance + Improved macro environment

September 24, 2009September 24, 2009 by Editor's Desk

In April, management guided toward revenue growth of 15-20% and order inflow of 25–30% for F2010. Management expressed confidence that it could meet guidance. We believe that with recent big-ticket order wins from ONGC and in the power arena, and the bulk tender (from NTPC) expected in this financial year, the company should be able to beat F2010 guidance.

With funding concerns being resolved (though the liquidity increase globally and IIFCL in particular for India) and the new government keen to demonstrate performance, L&T has seen an improvement in the macro environment in the form of improving regulatory framework, especially for the road and power sectors. The government has made efforts to facilitate and encourage private sector investment.

Food grain output to decline by 15 milion tonne: FM

September 24, 2009 by Editor's Desk

India’s finance minister Pranab Mukherjee said on Wednesday that on account of poor rains this season, the food grain output in the country would decline at least by 15 million tonne. “There will be a (harvest) shortage of 14 to 15 MT as per estimates arrived at in a meeting chaired by me,’ said the FM. It would also lead to substantial impact on farm income and hence rural consumption with possible implications for indian economic recovery.

The minister however said that government was in a position to mitigate the ill impacts of the development. He said that the government would provide an additional 50-60 days work over and above the 100 days under the national rural employment guarantee scheme (NREGA) in the areas affected badly by poor monsoon so that the negative impact on farm income could be contained.

Banco Products gets HC nod for merger plan

September 24, 2009September 24, 2009 by Editor's Desk

Banco Products (India), engaged in manufacturing of gaskets and radiators, has received approvals for its merger from Gujarat High Court (HC) and Bombay HC. The high courts have approved the petition of the company for merger of Ganaga Investments with itself, as mentioned in its filing with the BSE. It further added that the respective … Read more Banco Products gets HC nod for merger plan

Tata Motors to storm premium SUV segment with new launches

September 23, 2009 by Editor's Desk

Tata Motors, which brought the iconic UK auto brands Jaguar and Land Rover (JLR) under its fold last year, is planning to storm the Indian premium sports utility vehicle (SUV) segment with a series of new launches from November this year.

The Indian automobile giant, which introduced the UK brands in India in June with the opening of its exclusive showroom in south Mumbai, has received a good response for the premium vehicles. The company has sold 20 units of Jaguar and Land Rover models in the last two months with the order book looking healthy in the near future.