Bazaar Watch

Sudarshan Chemical Industries Ltd has informed BSE that the Company proposes to sign an agreement with Eckart. Germany for acquiring of assets relating to the natural mica based pearlescent pigment products for cosmetics and personal care sold under the brand Prestige and Fionac C owned by Eckart, Germany and or its Affiliates. The agreement is proposed to be signed on December 15, 2011 in this regard.

MindTree Ltd has informed BSE regarding a Press Release dated December 14, 2011, titled “Millennium & Copthorne Hotels chooses MindTree as its strategic IT partner”

Press Release :

“MindTree Limited, a global IT and Product Engineering Services Company is pleased to announce that it has been selected as strategic IT partner for Millennium & Copthorne Hotels Plc’s latest e-business initiative.

The hotel group has selected MindTree to conceptualise, design, build and manage a new global e-commerce site that will transform the company’s customer service experience and increase its revenues through e-channels.

“We aim to transform the experience of our customers when they deal with us directly online,” said Clive Harrington, the hotel group’s Senior Vice President for Europe. “This is a vital part of our Group’s ambitious growth strategy for the next five years. Having thoroughly reviewed the market, we selected MindTree, who we are confident will deliver an efficient and effective service in taking our e-commerce offering to a new, higher level.”

“We look forward to building a long-lasting relationship with Millennium & Copthorne Hotels and to bringing our strong domain knowledge, technical breadth and execution capability to make this a massively successful business initiative,” said Tridip Saha, Head of MindTree in the UK. “Our success in being selected for this project was in part a result of our credentials in the travel & hospitality industry, which will be further strengthened through our association with one of the world’s leading hotel groups.”

Larsen & Toubro Ltd has informed BSE regarding a Press Release dated December 14, 2011 titled “L&T Commissions 384 MW Power Project for GMR in Record Time”

Press Release :

“Larsen & Toubro (L&T) has Successfully commissioned a 384 MW Unit of GMR’s gas based power plant at Vemagiri, near Rajahmundry in Andhra Pradesh. Demonstrating its Integrated execution capabilities, L&T Completed the project in a record time of 24 months. The steam turbine for this Unit Was synchronized on
December 04, 2011 and the gas turbine on August 27, 2011.

In September 2006 L&T had Successfully commissioned the first unit of a similar capacity at the Same location. Work is also in its advanced stage for the third unit of similar capacity in which a gas turbine is expected to be Synchronized Soon. The complete unit is Scheduled to be commissioned in the next few months. On completion of all three units, the national grid wilt benefit from a total capacity of 1200 MW gas based power plant at a single location.

This project has been executed by the Gas Based Power Projects – Strategic Business Unit of LT Power, based in Baroda. L&T’s scope included design, detailed engineering, supply, installation and commissioning of the complete power plant on a turnkey basis. The plant incorporates state-of-art advance class gas turbines from General aectric and high efficiency Steam turbines from Alstom.

Larsen & Toubro Ltd has informed BSE regarding a Press Release dated December 13, 2011 titled “L&T Construction Bags Rs. 2,164 Crore Road Project”

Press Release:

“L&T Construction has bagged a major order valued at Rs. 2,164 crore in its Infrastructure Segment from GMR Infrastructure. The order is for construction of stretches consisting of six laning of Kishangarh Udaipur Ahmedabad Highway. The development would be executed on EPC (Engineering, Procurement & Construction) basis.

The Klshangarh Udaipur Ahmedabad project – a mega project part of Phase V of the National Highways Development Programme (NHDP) of the National Highways Authority of India (NHAI) – is for upgrading the existing four lane section of golden quadrilateral to six lane. The. National Highway-8 (NH-8) connects the National Capital, Delhi and Business Capital of India, Mumbai.”

Fortis Healthcare (India) Ltd has informed BSE that the Company on December 08, 2011 announced the launch of RENKARE, a chain of stand-alone dialysis centres. These stand-alone centres will expand Fortis’ reach and help meet the rising demand for quality dialysis.

In this regard, the Company has issued a Press Release dated December 08, 2011 titled “Fortis launches RENKARE”

Press Release:

“Fortis Healthcare (India) Ltd. today announced the launch of RENKARE, a chain of stand-alone dialysis centres. These stand-alone centres will expand Fortis’ reach and help meet the rising demand for quality dialysis. The company plans to set up 50 standalone dialysis centres across the country over the next two years, in a phased manner. In the first phase, six centres will come up across Delhi & NCR covering the territory in the North, South, West and East.

Manned by a team of highly talented and experienced renal specialists and equipped with state-of-the-art equipment and technology, RENKARE will offer Excellence in Dialysis through reliable, safe and effective services in a hygienic and home-like environment. The centres will also focus on educational programmes, to help patients live reasonably healthy and productive lives, even while on haemodialysis. The centres will have standardised, international dialysis protocols, including the unique Water Testing Protocol, combined with a meticulously clean environment and other comforts like reclining chairs, WiFi connectivity and personal LCD screens for a relaxed dialysis experience.

Speaking at the inauguration of the first RENKARE centre at Greater Kailash 1, Mr. Aditya Vij, CEO, Fortis Healthcare (India) Ltd., said, “We consistently strive to offer the highest quality in healthcare services, employing the finest medical talent, using the latest technologies and widening the range of offerings for our patients. With RENKARE, we will establish a pan India network of standalone centres that will offer a high quality, convenient and relaxed experience to dialysis patients.”

Dr. Varun Sethi, CEO, RENKARE added, “Our state-of-the-art dialysis centers will expand the access and options for care for patients on dialysis. Our mission is to provide a network of quality dialysis centres to the growing populace with kidney failure. We will start with major metros, and expanding the network to tier II and III cities, where access to care is most needed, but often unavailable”

India is often described as the diabetes capital of the world and renal failure is highly prevalent in our country. Estimates suggest that 800,000 people suffer from End Stage Renal Disease (ESRD) in India today, a number which is expected to balloon to approximately 950,000 by 2015. Unfortunately, of all the ESRD patients that require dialysis, less than 10% have access to a dialysis facility. Most dialysis facilities in urban India are stretched to their limits and almost 200,000 people die in India each year, because they lack access to renal care. RENKARE will be a step forward in serving the large population of existing and new dialysis patients, by providing high quality services, outside the hospital environment and closer to home.”

Wipro Ltd has informed BSE about a Press Release dated December 06, 2011 titled “Wipro and Kawasaki enter into a Joint Venture to manufacture hydraulic pumps for excavators in India”

Eros International Media Ltd has informed BSE about a Press Release dated December 05, 2011 titled “Eros International joins hands with Dharma Productions to release Agneepath internationally”

Mudra Lifestyle Ltd has informed BSE that the Company has its plants located at different placed including Nani Daman in Dadra and Nagar Havelli, Vapi in Gujarat, Tarapur and Bhiwandi in Maharashtra and Bangalore in Karnataka. For the administrative convenience, the management of the Company decided to shift the plant, including the machineries and materials thereof pertaining to the weaving work located at Vapi and Nani Daman to its unit situated at Bangalore. As of now, the Company have already shifted its machineries and materials etc. of the Vapi Plant caused the closure of the plant to the Banglore Plant and the shifting of Nani Daman plant, weaving division shall be completed shortly.

Glenmark Pharmaceuticals Limited has informed the Exchange that Glenmark Generics Limited, subsidiary of Glenmark Pharmaceuticals Limited, has announced that it made a payment of USD 28.8 million in exercise of its purchase option election with respect to its royalty agreement with Paul Capital Partner’s Royalty Fund(“Paul Capital”). As stated in the June 2005 release when the deal was entered, Paul Capital invested funds for the development of dermatological products for the US market. In return, Paul Capital received royalties. With the exercise of the purchase option election, Glenmark Generics Limited has no further obligation to pay royalties to Paul Capital.

Gitanjali Gems Ltd has informed BSE that Aston Luxury Group Ltd., a wholly owned subsidiary of the Company has acquired 100% stake of ‘Crown Aim Limited’ (‘Crown Aim’) on December 02, 2011. Thus Crown Aim has become step down subsidiary of the Company.

Crown Aim is a Hong Kong based Company engaged in the business of distribution of Jewellery to China, Japan, USA, middle east and Europe. in Addition, Crown Aim has a Jewellery manufacturing unit in China and plans to setup retailing of Jewellery in China. Crown Aim also has a 100% subsidiary with the name Alfred Terry Holding Limited and a step down subsidiary named Alfred Terry Limited in London, for distribution of Jewellery in UK.

Alfred Terry Limited is 45 years old Company and has a wide distribution to Chain Stores and Independent presence in UK. It covers nearly 2000 jewellery shops.