Sona exits Fuji Autotech Europe for ¤7.5 million
Sona Koyo Steering Systems on Friday said it has offloaded the entire holding in Fuji Autotech Europe for a total consideration of euro 7.75 million to Fuji Kiko Europe. “The company has sold its entire holding of 49,29,636 numbers of equity shares of Euro 1 each of Fuji Autotech Europe at a total consideration of Euro 7.75 million to Fuji Kiko Europe,” the company said in a BSE filing.
Piramal buys skincare brand Caladryl in India
Piramal Enterprises said it bought an over-the-counter skincare ointment from Canada-based pharmaceutical major Valeant Pharmaceuticals International to expand its pipeline of skincare products. The brand named, Caladryl, is used to treat minor skin irritations and itching. Terms of the deal were not disclosed. Valeant had originally bought the brand from J&J in 2012 for $153 million.
Punj Lloyd Q2 net loss widens 4-fold to R67 cr
Punj Lloyd’s consolidated net loss has widened nearly four-fold to R67.08 crore for the second quarter ended September, as it incurred R70.90 crore loss on account of minority interest. The company had reported a net loss of R17.92 crore in the corresponding quarter of the previous fiscal. Total income, however, was up 13.12% to R3,131.62 crore in the last quarter vis-a-vis R2,768.43 crore, it said.
Berger Paints Q2 net rises 17.3% at R62.67 crore
Berger Paints on Friday reported a 17.29% year-on-year jump in its consolidated net profit for the quarter ended September at R62.67 crore on the back of good sales growth in its decorative paint segment. Net profit was R53.43 crore for Q2 last fiscal. Net sales grew by 18.98% y-o-y to R961.79 crore for the period of July-September this year, from R808.34 crore for the same period a year ago, it said.
Alstom T&D back in black, posts R20.8-crore net
Alstom T&D India reported a net profit of R20.8 crore in the July-September quarter of 2013-14 fiscal after reporting a net loss of R1.81 crore in the corresponding period of the previous fiscal. Sequentially, too, Q2 net profit number has increased from a level of R15.04 crore in the April-June quarter.
BHEL bags R2,569-crore deal from Neyveli Lignite
BHEL on Friday said it has bagged a R2,569-crore contract from Neyveli Lignite for supplying equipment for the company’s 1,000 MW thermal power project. “Valued at R2,569 crore, the order has been placed on BHEL by Neyveli Lignite for the upcoming 1,000 MW thermal power project,” BHEL said. The order includes supply of steam generator package for two thermal units of 500 MW each.
RCom to sell iPhones 5s, 5c at zero down payment
Reliance Communications on Friday said consumers can own the 16 GB models of iPhone 5s and 5c by paying R2,999 and R2,599 per month, respectively, for two years. The firm said that no down payment is required to purchase the phones. “The per month price includes handset cost, unlimited local and STD calls, SMS, national roaming and 3G data,” RCom said. It added that users will not receive any usage bill for 24 months, but would be required to pay for international calls.
MAIT appoints president, vice-president
Manufacturers’ Association of Information Technology (MAIT) on Friday appointed Amar Babu, managing director of Lenovo India, as the president while the new vice- president is Intel’s South Asia managing director (sales and marketing) Debjani Ghosh. Babu replaces JV Ramamurthy.