Indian Pharma Co Bags $35M Order From UNICEF, Will Earn Over $50M In Next Two Quarters - Panacea Biotec is learnt to have bagged a $35-million drug supply order from UNICEF to supply pentavalent vaccines, the first Indian company to get such a contract. Pentavalent combines four vaccines - Diptheria, Tetanus, Pertussis, Hepatatis B and HIB (whopping cough). Potentially, Panacea Biotec can earn over $50 million in the next two years. The revenues from the contract are expected to kick in from the third quarter onwards, reports Economic Times. At present, vaccines account for about 65 per cent of the Delhi-based company’s Rs 850 crore (2007) sales. The company has also been looking to expand its business in branded drugs and is learnt to be in talks with a few companies in the US and Europe for an acquisition.
Apnaloan.com Launches Credit Card Comparator - Sequoia Capital backed online loan lead generation company, Apnaloan.com Service, has recently launched its credit card comparator for providing information on the 212 credit cards available in the country and issued by 28 issuers, reports Economic Times.
DOT Asks Idea To Surrender Licence For Punjab & Karnataka - The Department of Telecom (DoT) has asked Idea Cellular to surrender one of the two telecom licences it holds for the circles of Punjab and Karnataka. Idea Cellular, which had acquired a controlling stake in Spice Communications for around Rs 2,700 crore in June, now holds two licences in these circles on account of this acquisition. The DoT, however, ruled out any move to refund the licence fees paid by Idea after it surrenders the licences.
SBI’s Hike In PLR the Sharpest, Raises Lending Rates By 100 Basis Points - The Reserve Bank of India’s latest monetary-tightening measures, the country’s largest lender, State Bank of India, raised its benchmark prime lending rate (PLR) 100 basis points to 13.75 per cent from Tuesday, reports Business Standard. This makes the bank only one of three — Punjab National Bank and Central Bank of India are the other two — to increase lending rates so sharply. Most other banks have raised PLR 50 to 75 basis points. ICICI Bank and HDFC have increased lending rates 75 basis points, and HDFC Bank and Axis Bank have announced increases of 50 basis points each.
More PSU’s To Hit The Bourses - The government is likely to list four or five more of state-owned companies, which include Satluj Jal Vidyut Nigam Ltd, Manganese Ore India Ltd and Cochin Shipyard, by March next year, reports Business Standard. The companies can dilute anywhere around 10 percent The Union Cabinet is likely to approve these initial public offer (IPO) proposals in the coming weeks to enable them to complete the ground work in time for a March issue.
After Engineering, It Is Industrial Consulting For IIT-K - The Indian Institute of Technology, Kanpur (IIT-K) is fast emerging as one of the choicest industrial consultants for prestigious projects in government and private sectors. The institute has undertaken to provide technical know-how to a leading private construction house in Mumbai to construct a building, which will give the country its tallest skyscraper on completion, reports Business Standard. The professors are already providing advice and assistance to the Indian Space Research Organisation (ISRO) to realise the proposed Indian lunar mission, ‘Chandrayaan’.
IndusInd Bank Re-Enters The Personal Loan Segment - The Hindujas-controlled IndusInd Bank plans to re-enter the personal loan business after having almost stopped extending loans about two years ago.The bank may launch personal loan products in October-December, reports Business Standard.
Parsvnath Developers Aggressive Realty Plans - Delhi-based realtor Parsvnath Developers will open 10 retail stores this year and develop 21 commercial projects as part of its plan to foray into retail, Chairman Pradeep Jain told the reporters. Appoints RJ Kamath as an independent Director on Board and to open 75 hypermarkets and boutique in five years.
SEBI Revisits P-Notes - Participatory Notes are once again on the agenda of the capital market regulator, with the Securities and Exchange Board of India (SEBI) set to begin a review of the entire “regulatory framework” governing these instruments at its board meeting on August 13, reports Hindu Business Line.
New Policy For Urea Opens Up Opportunities - The new investment policy for urea announced last week has the potential to sharply improve realisations and open up new growth opportunities for domestic manufacturers of the fertiliser. Read more here.
RPG Group Affiliate Goes Big On Telecom Tower Plays - KEC International, part of the Rs 13,500-crore RPG Group, engaged in laying of power transmission lines on EPC basis globally, is broadening its business canvas to get into installation of telecom towers that would be rented out to telecom services providers, reports Hindu Business Line. It is expected that KEC, which is at present executing projects in 40 countries, will be spending Rs 100 crore this fiscal to set up 400 telecom towers in the rural areas where mobile phone is yet to penetrate.