Company & Market News

By CROW -
04:55 PM Wednesday, 29 April
MAN Industries, a leading player in the saw pipe segment, has bagged an order worth Rs 13.40 billion. Conforming the news, RC Mansukhani, chairman, MAN Industries, said it has bagged an LSAW (Longitudinal Submerged Arc Welded) pipe order from the hydro carbon sector in the Persian Gulf. The company`s order book position as of date stands at Rs 7 billion, he said. Post this order, our order book stands at Rs 20 billion. We expect to beat the Rs 50 billion-mark in the coming months, he added.
Source : CNBC TV 18
03:51 PM Tuesday , 28 April
Biocon, fully integrated biotechnology enterprise, announced a steep drop of in 61.90% the consolidated net profit for the quarter ended March 2009. Commenting on the results, Kiran Mazumdar-Shaw, chairman and managing director, Biocon said, ``fiscal year `09 has been one of our most challenging years where foreign currency volatility made it difficult to manage a sharply depreciating Rupee resulting in large market to market (MTM) losses. This has been a learning for us and our new hedging strategy enables us to address the years ahead with a sense of confidence and resilience. ``
Source : CNBC TV18
03:08 PM Tuesday , 28 April
Vinita Bali, CEO, Britannia, said the company is working its way through ownership issue of the Tiger brand. ``We will continue to use this brand. Britannia, Danone have arrangements in place on its usage.`` According to her, bakery, diary operations are to be key growth drivers for Britannia. ``We may enter into new segments apart from bakery and dairy in the next few months. The company is confident of seeing aggressive growth rate in business and are still looking at double-digit growth.`` However, she was quick to add that the slowdown may effect growth by a couple of percentage points.
Source : CNBC TV18

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