Corporate Highlights
- Larsen & Toubro's Buildings & Factories Operating Company- a part of its Construction Division- has bagged new orders aggregating Rs 1513 crore during the second quarter of the year 2009-10 for the construction of high rise tower, luxury hotel, hospital & factory building projects.
- Omnitech board has approved ADR/GDR issue upto $ 50 million. The company has aggressive overseasgrowth plans. It has commenced new wholly-owned subsidiary in Netherlands. The company is going to invest $ 1 million over 12-18 months in Netherland subsidiary.
- Government of Nepal has awarded the work of upgrading of Sanfebagar-Martadi Road to Madhucon JV under Road improvement project scheme funded by Exim Bank of India. The order is worth $ 3.9 million. Madhucon Project's order book position in Highways, Toll Roads, Irrigation projects, Flyover projects and Residential cum Commercial and Power projects is over Rs 4600 crore.
- ACC raises Rs 300 cr via NCDs through private placement. The Bond carries a coupon of 8.45% par payable annually and is for a tenor of 5 years.
- Drug-maker Lupin has granted speciality pharma company Salix Pharmaceuticals exclusive rights in the US on its bio-adhesive drug delivery technology for gastro-drug. Salix has made an upfront payment of $5 million to Lupin and will make additional regulatory-milestone-related payments to Lupin, a note from Lupin said. In addition, Salix will pay royalties on net sales of the bio-adhesive Rifaximin product to Lupin.
- Tamil Nadu Newsprint and Papers said that the company is going to invest Rs 1000 crore to expand capacity by July 2010. The expansion will add 155,000 TPA to existing capacity. The company will take up three more projects this year. Expansion of Rs 372 crore will be completed by September 11.
