Blue Star wins order Rs 8.5 crore from Era Infra

India's largest air-conditioning (AC) & commercial refrigeration company Blue Star, has notified that it has won a Rs 8.5-crore order to air-condition the integrated terminal building for domestic/international operations at Raipur airport.

The order has been awarded by Era Infra Engineering Limited. The scope of work includes the total HVAC works and building management system at Raipur airport.

Dr Reddy's to employ cost cutting measures

Reddy's Laboratories (DRL), leading drug maker of the country, would employ various cost cutting measures in order to mitigate the impact of global slowdown on its business.

The firm has trimmed its operations in different countries and announced its exit from its global generics business, having less than 1 per cent contribution in its total revenue.

Zydus Cadila and Eli Lilly sign drug discovery pact

Eli Lilly and Ahmedabad-based drug maker, Zydus Cadila signed a pact to develop and research new drugs for six years. The deal is aimed to increase productivity in drug discovery and development by using the expertise of both firms in the field of medicine.

Global economy to shrink in 2009, World Bank says 'Emergency' seen in developing world, with no growth outside China, India

The global economy is expected to contract in 2009 for the first time since World War II and the recovery next year is likely to be very fragile, the World Bank said Tuesday in its latest economic outlook.

The global economy is expected to shrink by 1.7% in 2009 and grow 2.3% in 2010 after 1.9% growth in 2008

China's growth is expected to slow to 6.5%, and India's to 4%.

Tata Power gets Rs 1.82 bn missile launcher order

Tata Power Company announced that the company`s strategic electronics division (SED) has bagged a Rs 1.82 billion order from Bharat Electronics (BEL) to manufacture `16 Akash Launchers` to be delivered in next 33 months.

DLF to sell its wind power biz

DLF would start working on divesting the windmill power generation business to raise resources for a more related business, The company had invested around Rs 15 billion in the business. It is learnt that the company is looking at exiting at around Rs 11 billion after taking a depreciation claim of a significant amount.

L&T bags order worth Rs 11 bn

Larsen & Toubro (L&T) has bagged a slew of large value orders aggregating to Rs 11 billion in the electrical construction sector in the fourth quarter of 2008-09.

The orders have come from leading public sector organizations - the Power Grid Corporation of India and the Rail Vikas Nikam

Suzlon secures 132 MW Australia order

Suzlon Energy has announced that Suzlon Energy Australia Pt, Australia, a step-down wholly owned subsidiary of the company has entered into an agreement with AGL Energy for the turnkey delivery.

BHEL, BEL inks MoU to explore a 250-MW mfg facility

Public sector majors Bharat Electronics and Bharat Heavy Electricals (BHEL) inked an memorandum of understanding (MoU) to explore a 250-MW joint manufacturing facility for solar photo voltaic cells, modules and silicon wafers,

KPTL secures order worth Rs 4 bn from Algeria

Kalpataru Power Transmission (KPTL), a global player in the power transmission engineering, procurement and construction (EPC) business, has secured three projects worth Rs 4 billion from Sonelgaz, the state electricity company of Algeria.

OECD area`s GDP to shrink by 4.3% in `09

Organization for Economic Co-operation and Development (OECD) sees gross domestic product (GDP) to shrink by an average of 4.3% in the OECD area in 2009 while by the end of 2010 unemployment rates in many countries will reach double figures for the first time since the early 1990s.

Zydus gets USFDA nod to market Topiramate tablets

Cadila Healthcare (Zydus Cadila) has received final approval from USFDA to market Topiramate tablets in different strengths of 25 mg., 50 mg., 100 mg., and 200 mg.

The drug falls in the anti-epileptic segment. The sales of Topiramate tablets as per NDC Health was estimated at USD 2.6 billion in 2008.

Canara Bank raises Rs 2.4 bn via bonds

With reference to the earlier announcement dated Mar. 25, 2009, regarding the bank going for tier I bonds for an issue amount Rs 1.50 billion with unspecified green shoe option, Canara Bank has now announced that the bank has collected total issue amount of Rs 2.403 billion.

Aurobindo Pharma gets USFDA nod for Anti-Retroviral drug

Aurobindo Pharma has received tentative approval for Emtricitabine/Tenofovir Disoproxil Fumarate Tablets, 200mg/300mg from the US Food & Drug Administration (USFDA).

Great Offshore signs long term charters with ONGC

Great Offshore has entered into three year charter commencing end April 2009 with ONGC for three of its vessels (1 PSV and 2 AHTSVs for operating in offshore India. The aggregate value of the three year firm charter is around USD 65 million.

Satyam Computer set to be sold before India election

FT reports the caretaker board of SAY expects to sell the company by mid-April -- just before the country's general election -- in one of the most unusual transactions ever witnessed in the mergers and acquisitions business. Bidders for co are being warned that there are no reliable financial accounts available for the company and that they must come up with their own assessment of the potential liability from shareholder suits. "We have been telling people there's going to be nothing available on that front,

Boeing to deliver $17 billion of planes to India in 5 years

co will deliver 100 planes worth $17 billion over the next four to five years in India, the president of its Indian operations said. "We clearly want to extend our footprint in India," Dinesh Keskar, president of Boeing India, told reporters at the launch of Boeing's research and technology center in the southern city of Bangalore.

Vijaya Bank issues PNCPS worth Rs 500 mn

Vijaya Bank has announced that on Mar 31, 2009, the bank have issued 500 million perpetual non cumulative preference shares (PNCPS) of Rs 10 each at par (total capital of Rs 5 billion) to Government of India.

The shares have been credited to the demat account of Government of India maintained with CDSL.

MIC Electronics acquires six new clients in March`09 portfolio

MIC Electronics has acquired 6 new clients valuing Rs 221.50 million in its portfolio in the month of March 2009 for True Colour LED Video Displays.

These include Goa based Teleflex Info Services (P), Chandigarh Hockey Stadium, Reliance Industries, Delhi based Shiv Naresh Sports, Varna Display Systems (P) and Dani Multimedia.

Jindal Saw Q4 net declines 85.31%

Jindal Saw disclosed a substantial drop in standalone net profit for the quarter ended December 2008. During the quarter, the profit of the company declined 85.31% to Rs 843.10 million from Rs 5,713.10 million in the same quarter last year.