Economy
•India's economy grew by 5.5% in the April-June quarter this fiscal due to poor performance of manufacturing, mining and farm sectors. The gross domestic product (GDP) had expanded by 8% in the April-June quarter of 2011-12.
Capital Goods
•McNally Bharat Engineering Company has announced that the company has received an order from Bhilai Steel Plant for External Water System for Mills and Fire Water Pumphouses under modernization and expansion of Bhilai Steel Plant at a price of `121.75 crore.
•Elgi Equipments has announced that the company has acquired 100% of Rotair S.p.a. The acquisition is through a 100% subsidiary incorporated in Italy, Elgi Compressors Italy S.r.l.
Engineering
•Larsen & Toubro has decided to shut down its switchgear unit in China due to low growth and stringent competition from local low-cost producers.
Realty/ Construction
•IL&FS Engineering and Construction Company has won three rural electrification contracts worth 331 crore from West Bengal State Electricity Distribution Company.
Pharmaceuticals
•Strides Arcolab said its subsidiary has received US health regulator's approval to market generic topotecan hydrochloride injection, a cancer drug, in the American market.
•Wockhardt has received approval from US health regulator to sell generic ropinirole hydrochloride, which is used in the treatment of Parkinson's disease.
•Lupin aims to launch a slew of drugs in the US market in the next four years from its pipeline of 110 products awaiting approval from the country's health regulator.
•Orchid Chemicals & Pharmaceuticals had entered into a Business Transfer Agreement (BTA) with Hospira for the sale and transfer of Orchid's Penicillin and Penem API business and the API facility located in Aurangabad (Maharashtra) together with an associated process R&D infrastructure located in Chennai for a total cash consideration of approximately US$ 200 million.
•IL&FS Engineering and Construction Company has won three rural electrification contracts worth 331 crore from West Bengal State Electricity Distribution Company.
Pharmaceuticals
•Strides Arcolab said its subsidiary has received US health regulator's approval to market generic topotecan hydrochloride injection, a cancer drug, in the American market.
•Wockhardt has received approval from US health regulator to sell generic ropinirole hydrochloride, which is used in the treatment of Parkinson's disease.
•Lupin aims to launch a slew of drugs in the US market in the next four years from its pipeline of 110 products awaiting approval from the country's health regulator.
•Orchid Chemicals & Pharmaceuticals had entered into a Business Transfer Agreement (BTA) with Hospira for the sale and transfer of Orchid's Penicillin and Penem API business and the API facility located in Aurangabad (Maharashtra) together with an associated process R&D infrastructure located in Chennai for a total cash consideration of approximately US$ 200 million.
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