Category Archives: Business

BHEL Eyeing Construction Plant In Maharashtra

According to senior company representative, engineering giant BHEL is planning to establish a manufacturing plant in Latur in the state of Maharashtra.

Executive Director of BHEL (Tiruchy complex) AV Krishnan stated, “The Maharashtra government has evinced interest to offer adequate land for the project. The product would be something allied to thermal power generation.”

Mr. Krishnan also said that the company board was yet to settle on the precise product variety, mass and investment for the novel project that he showed would fall under the influence of BHEL.

BHEL complex consists of high pressure boiler facility and seamless steel tube facility in Tiruchirappalli, piping centre in the state of Chennai and industrial valve facility at Goindwal in Punjab.

In addition, the construction plant in the state of Maharashtra, talks were going on with Maharashtra Power Generation Corporation to set up a 660 mw thermal power station in the state.

BHEL is also making plans to establish a two mw solar power generating facility in its complex with a total investment of Rs 17 crore.

“A detailed project report had been submitted to the BHEL Board for the formal approval,” he said, adding it would become functional in a time period of 11 months once the panel gave its green signal.

Biocon Q1 Net Slumps 9% To Rs 70 Crore

For the three month period ended June 2011, Biocon’s consolidated net profit declined around 9% to Rs 70.05 crore as compared to the same period of last year.

The company’s net sales remained up by more than 10% to Rs 441.68 crore.

The earnings disappointed the street leading to more than 4% slump in the biotechnology firm’s shares during the early trade.

At 10:30 hrs, Biocon scrip remained down by 2.8% to rule at Rs 360.15 on NSE.

The company stated that the outcomes for the year-ago quarter comprised Rs 11.52 crore in profit from performances of AxiCorp gmbh that has since been sold.

During the month of April, Biocon SA had decided to sell its 70% equity stake in the German drug distribution arm.

Exclusive of the discontinued functioning, Biocon’s net profit surged 7.4% during the quarter under review.

Consolidated operating profit margin stayed flat at 27.5% year-on-year.

Biocon stated that there was a “healthy” augmentation in profit from its core manufacturing and services businesses, but there was lower licensing income recognition during Apr-June period.

Murali Krishnan, president, group finance stated, “Licensing income from our partnered programmes will see a high degree of variability given the inherent nature of licensing recognition that is linked to development and regulatory timelines.”

The company added that the licensing revenue is likely to strengthen during the coming quarters.

During April-June period, while income from Biocon’s biopharma biz surged 8% y-o-y, domestic branded formulations biz augmented 28%.

SA’s PPC Mill Expects ‘To Lift Capacity By 30%’

It seems that after lingering for long after 2009 recession, the Pretoria Portland Cement (PPC) is all set on its mission to recovery. Backed by its newly upgraded technology, the Company is expecting to extend its cement production capacity by a staggering 30%. Of lately, the Company had faced tough time when the local demand could not be met while the international demand was growing.

The SA’s biggest cement maker will churn out and sell premium products in its new R699m largest manufacturing facility in Pretoria. The mill was commissioned last year.

Confirming the news, Kevin Odendaal, the company’s investor relations and Strategy Manager, said, “It (the new technology) is extremely efficient on electricity, up to 30% more efficient, which is especially relevant, considering that the plant will run at high volumes”.

The Company had been quite disappointed with the loss it incurred as 5% of the market went in imports and further, it is concerned about subsidized imported cement.

Meanwhile, the Company is planning to expand its wings elsewhere in Africa in order to compensate for the loss it incurred during poor sales at home. Moving further, the Company is considering refurnishing other plants within three to five years.

Renault-Nissan may form a tie-up with Ashok Leyland

Renault-Nissan has hinted that it may go in for a partnership with the Indian firm, Ashok Leyland.

Both the companies are already engaged in talks with the management of Ashok Leyland for the purpose of this agreement.

The companies have anticipated that such a partnership will help both the parties to produce and sell an all new passenger car.

Renault-Nissan has targeted to position the product in between its ultra-low-cost car project and the V-platform car, ‘Micra.’

However, both the companies haven’t confirmed the alliance but it is expected that soon they may end up with an-almost-certain partnership deal.

The Chairman of Renault-Nissan, Carlos Ghosn has informed that his company is all set to work with Ashok Leyland to produce some common projects. He has also denied that there will be no tie-ups between Renault-Nissan and Bajaj.

Ghosn made these statements during the launch of Renault-Nissan’s first ever green-field car plant in Chennai.

According to Ghosn, the new project, that both the companies are looking forward to, will be designed for the Indian market as well as some of the emerging markets across the globe.