Tuesday, August 29, 2006

Stock Alert

EMCO may gain on new order win
EMCO has received power transformers order worth Rs 270 crore from Karnataka Power Transmission Corporation (KPTCL) which is funded by Power Finance Corporation and is to be executed within 1 year. With this order, the company's order book stands at a record high of Rs 810 crore, EMCO said in a statement.

Lloyd Electric & Engineering has signed a memorandum of understanding (MOU) with Hanyung Alcobis Company, a Korea based company, for manufacturing of Roll Bond and Fin Cross Evaporators including all type of Evaporator/condensor for refrigerators produced by the Korean Company.

Moser Baer India has received the approval from its board of directors for investment of an additional $ 17 million (Rs 79.20 crore) in Moser Baer Photo Voltaic Ltd (MBPV), a wholly owned subsidiary in the high growth global photo voltaic industry. This investment will be in a phased manner and provide further impetus to MBPV's technology & R&D initiatives in exciting & emerging technology verticals in the global PV space, Moser Bear India said in a statement.

Geometric Software Solutions Company has announced formation of a new group for Virtual Product Design. This would further align the focus of the company to that of the OEM's who are moving away from physical prototypes to virtual or digital mock ups to reduce cost and time to market entry of new models, the company said in a statement. The VPD group will facilitate additional capability to the company in terms of offering services in the area of advanced CAE and CFD for automobile, aerospace and the general engineering domains, the company said.

Packaging company Radha Madhav Corporation said late on Tuesday that its board had decided to allow foreign investment in the company up to 30% of the expanded capital.

Generic drugmaker Ranbaxy Laboratories on Tuesday said a Norwegian court ruled in its favor against Pfizer Inc. involving two patents on a cholesterol-lowering drug. The Oslo city court found that Ranbaxy's Atorvastatin was not infringing Pfizer's Norwegian patents, Ranbaxy said in a statement.

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