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Dabur Pharma plans majority stake sale
Six years ago Dabur demerged its pharma business from its FMCG operations but then last year Dabur Pharma sold its non oncology portfolio to Alembic and now the Burmans may very soon exit the business altogether. Dabur Pharma is set to sell majority stake to German company Fresenius and post sale the Burmans are likely to become minority shareholders.
The option of selling the entire 65 per cent stake that the Burmans hold in the company is also being considered. At current market price the value of that stake is close to Rs 600 crore but the Burmans are looking at an exit premium and is keen on Rs 900 crore. Dabur Pharma in 2007 sold its non oncology formulations business to Alembic for about Rs 160 crore to focus only on the high margin cancer cure space.
The global oncology generics space, say sources, is the next big frontier with patent expiries worth $8-10 billion expected in the next 2 years. Dabur Pharma too is likely to get two exclusivity opportunities in FY''09-10. No wonder the promoters are seeking such premium from Fresenius, which so far has been the world''s largest provider of dialysis products and services.
The option of selling the entire 65 per cent stake that the Burmans hold in the company is also being considered. At current market price the value of that stake is close to Rs 600 crore but the Burmans are looking at an exit premium and is keen on Rs 900 crore. Dabur Pharma in 2007 sold its non oncology formulations business to Alembic for about Rs 160 crore to focus only on the high margin cancer cure space.
The global oncology generics space, say sources, is the next big frontier with patent expiries worth $8-10 billion expected in the next 2 years. Dabur Pharma too is likely to get two exclusivity opportunities in FY''09-10. No wonder the promoters are seeking such premium from Fresenius, which so far has been the world''s largest provider of dialysis products and services.
RBI fully geared to control inflation, says Reddy
Concerned over ballooning inflation, the Reserve Bank on Monday hinted at tighter monetary measures in its forthcoming credit policy, saying it was in "full readiness" for appropriate action to contain prices.
"Inflation is unacceptably high. We are very concerned and we are in full readiness to take appropriate action to contain inflation," Reserve Bank Governor Y V Reddy said, a month ahead of the credit policy, to be announced on April 29.
Inflation spiralled to 6.68 per cent, much beyond the RBI''s comfort level of five per cent, prompting Finance Minister P Chidambaram to stress that the government would take all measures, monetary, fiscal and supply side, to combat it. Attributing the sudden spurt in inflation to a surge increase in prices, mainly of food, fuel and metals, Reddy said that some inflationary pressures were expected when the central bank reviewed its monetary policy in January. "Inflation has (now) turned out to be well more than anticipated," Reddy said on the sidelines of a function in Mumbai.
"Inflation is unacceptably high. We are very concerned and we are in full readiness to take appropriate action to contain inflation," Reserve Bank Governor Y V Reddy said, a month ahead of the credit policy, to be announced on April 29.
Inflation spiralled to 6.68 per cent, much beyond the RBI''s comfort level of five per cent, prompting Finance Minister P Chidambaram to stress that the government would take all measures, monetary, fiscal and supply side, to combat it. Attributing the sudden spurt in inflation to a surge increase in prices, mainly of food, fuel and metals, Reddy said that some inflationary pressures were expected when the central bank reviewed its monetary policy in January. "Inflation has (now) turned out to be well more than anticipated," Reddy said on the sidelines of a function in Mumbai.
Gujarat Ambuja to commission soybean plant in MP
Ahmedabad-based agro-processing company, Gujarat Ambuja Exports Limited ( GAEL), will be putting in around Rs 85 crore this year in two different ventures. Guj Ambuja will commission a 1,200-tonne per day (tpd) soybean processing plant at Mandsaur in Madhya Pradesh at an investment of Rs 50 crore. GAEL already has soya processing plants at Kadi and Nani Kadi in Gujarat, at Pithampur in MP and at Kanheri in Maharashtra. The new plant is expected to go on stream in October-November 2008. With this, the company''s soya processing capacity is expected to touch 4,700 tpd.
Under the mandi venture, the company is looking at sourcing oilseeds and other products from farmers. As many as 8 mandis have already been established and 20 more are in the process of being set up in Madhya Pradesh, Maharashtra and Rajasthan. Around Rs 35 crore is expected to be invested in the venture. Of late, the company started production at its new maize processing plant at Sitarganj in Uttarakhand, which has a capacity of 500 tonne per day. The plant has been set up with an investment of Rs 60 crore through internal accruals.
Under the mandi venture, the company is looking at sourcing oilseeds and other products from farmers. As many as 8 mandis have already been established and 20 more are in the process of being set up in Madhya Pradesh, Maharashtra and Rajasthan. Around Rs 35 crore is expected to be invested in the venture. Of late, the company started production at its new maize processing plant at Sitarganj in Uttarakhand, which has a capacity of 500 tonne per day. The plant has been set up with an investment of Rs 60 crore through internal accruals.
CDC Software Completes Acquisition of Majority Stake in Leading
CDC Software, a wholly owned subsidiary of CDC Corporation and a provider of industry-specific enterprise software applications and business services, today announced it completed its acquisition of a 51 percent stake in Integrated Solutions Limited, a Hong Kong-based vendor of ERP systems designed for small and medium-sized discrete manufacturers in China. With this investment, along with our award-winning solutions, services, extensive infrastructure and deep expertise of the China market, we are now strongly positioned to more fully exploit the significant opportunities in the largest manufacturing market in the world, said Peter Yip, executive chairman of CDC Software.
We plan to leverage ISL''s impressive track record of hundreds of successful deployments in southern China as we expand our market presence throughout the country. With our highly-popular Ross Enterprise applications for process manufacturers and the addition of ISL''s applications for discrete manufacturers, we now have solutions for the entire industry. A top priority for us will be to expand rapidly in China, particularly targeting the millions of small and medium-size manufacturers with our complementary software solutions. As previously announced, ISL joins CDC Software''s successful Franchise Partner Program that includes Franchise Partners located in India, Argentina, Spain and Mexico. Under this program, CDC Software establishes strategic relationships with partners in selected geographies through majority control, as well as minority investments.
We plan to leverage ISL''s impressive track record of hundreds of successful deployments in southern China as we expand our market presence throughout the country. With our highly-popular Ross Enterprise applications for process manufacturers and the addition of ISL''s applications for discrete manufacturers, we now have solutions for the entire industry. A top priority for us will be to expand rapidly in China, particularly targeting the millions of small and medium-size manufacturers with our complementary software solutions. As previously announced, ISL joins CDC Software''s successful Franchise Partner Program that includes Franchise Partners located in India, Argentina, Spain and Mexico. Under this program, CDC Software establishes strategic relationships with partners in selected geographies through majority control, as well as minority investments.
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