Dr Reddy's Laboratories & Strides Arcolabs are at a risk of raiders as their promoter holdings are less than 26%. Promoters of Dr Reddy's have 25.15% stake as on Dec 31, 2007 and the share value of the company has dipped 19.9 per cent since January 1 this year. The Bangalore-based Strides Arcolab had only 18.82% promoter-holding as on Dec 31, 2007. The stock price of the company has gone down 34% in the same period. The promoters are taking steps to correct the situation.
Germany-based Humana Milchunion eG, one of the largest baby food products and therapeutic multivitamins manufacturers, will soon foray into India and neighbouring markets in a big way.
Primary markets may see banks using electronic clearance systems (ECS) to clear cheques in order to reduce the gap between the time an issue closes and its listing on the bourses.The primary market advisory committee of the Securities and Exchange Board of India (Sebi) met on Friday to iron out some of the logistical difficulties involved in making the IPO process faster.
While the April to September period (H1) saw as many as eight major deals worth over Rs 5,000 crore (Rs 50 billion), the second half of the year saw a sharp drop in the value of such deals to about Rs 1,500 crore (Rs 15 billion). Though the number of deals in H1 and H2 is almost the same, the sharp decline in value in the second half indicates a clear change in outlook and strategy of companies, say industry experts.
JPMorgan Chase is planning to invest $100-150 mn a year in India. This fund will be looking at a range of sectors and would not be focused on one particular sector. It can bring in sector expertise, investment banking expertise and the other broader resources of a full-service financial institution. The new fund, Private Capital Asia, will take non-controlling stakes in mid-cap companies, exclusively in Asia. JPMorgan regards India as a supportive market for private equity.
Richard Heald, Vice-Chairman and Amitabh Malhotra, Director of Rothschild spoke about the volatile market, its implications and how this is an opportunity for Rothschild in India. Heald said that rising commodity prices are worrisome. The inflationary pressures are a concern. He advised that corporates should be open to all financing options. Investors in general want to invest in cash generating assets and commodities. With no decoupling other markets will impact India too.
Reliance Power Limited, the flagship company of the Reliance Anil Dhirubhai Ambani Group (ADAG), plans to invest about Rs 2,500-3,000 crore (Rs 25-30 billion) over a period of three years, to develop three coal mines to fuel its Sasan Ultra Mega Power Project in Madhya Pradesh. Reliance Power currently has access to coal reserves of about one billion tonnes in India and abroad, including a coal mine in Indonesia, which it acquired recently.
The US Food and Drug Administration (USFDA) has asked Caraco Pharmaceutical Laboratories, the US subsidiary of Mumbai-based Sun Pharmaceuticals Industries, to withdraw many batches of its generic Metformin Hydrochloride tablets used for treating diabetes, citing efficacy and quality issues. According to a USFDA Class II withdrawal announced on March 19, Caraco will have to withdraw seven lots of Metformin Hydrochloride in bottles of 100, 500 and 1000 tablets each.
Dubai-headquartered Baer Capital Partners is planning to launch 2 India-centric hedge funds this year. The two funds - Beacon India Opportunities Fund with a corpus of $400 million and the $100 million Beacon India Growth Fund - will invest in listed companies. It is also planning an exclusive $100 million FMCG fund. These funds will invest across sectors including IT, pharma, FMCG, banks and auto. It has got approval from Sebi. These funds will not involve momentum trading.
The next time you buy a shirt or trouser that claims to be stain- and wrinkle-free, thank nanotechnology for it. The Indian government has allocated Rs 1,500 crore (Rs 15 billion) for the development of nanotechnology which involves studying and working with matter on an ultra-small scale. The nanotech market globally is expected to cross $1 trillion by 2010. In India, the maximum research in nanotechnology is taking place in the biotechnology and medicine segments.
L&T is planning a foray in PE fund in the real estate market with a Rs 4500 crore fund.
Analysts feel this decision is yet another example of big-ticket acquisitions turning sour for Indian pharma firms, as happened in the case of Dr Reddy's acquisition of Betapharm of Germany for Rs 2,250 crore (Rs 22.5 billion).
Mumbai-based Sun Pharmaceuticals has filed a post-grant opposition with the Mumbai patent office against a product patent granted to the extended release version of Johnson and Johnson's (J&J) blockbuster drug Risperdal, used in the treatment of psychological disorders and schizophrenia.
Sun Pharma has increased its stake in Israel's Taro by buying 9.5% more, raising its total holding to 34.4 per cent.
Sebi has proposed waiving off stamp duty on e-issuance of bond to the ministry of finance.
The initiative will include special training for Customs and drug regulatory officials to identify spurious drugs, their origin, distribution chain and follow-up action to raid premises and book culprits, in coordination with regulatory and police officials of various countries.
Half of the 10 IPOs to have hit the market since the beginning of this year have been from the real estate space. J Kumar Infra Projects, KNR Constructions, SVEC Constructions and the now withdrawn Emaar MGF are the worst hit, according to analysts.
Pharma majors are collaborating with foreign companies to develop newer drugs.
The Reserve Bank of India's (RBI) denial of permission to Swiss bank UBS to acquire Standard Chartered Asset Management Company has come as a blessing in disguise for Standard Chartered Bank.
More than half of the small-scale pharmaceutical units operational in India have either closed down or indefinitely suspended business activities in the last two years, having being struck by un-favourable government policies and the inability to compete with big companies in the changing business environment.
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