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Written by fe Bureaus | Updated: Jun 30 2010, 05:09am hrs
Biocon likely to buy SIRO stake

Biocon may buy stake in SIRO Clinpharm, a clinical research organisation, a company official said. It is going to be a big announcement but nothing has been finalised. There can be a slip between the cup and the lip. So we are not making any announcements now, the official, who did not wanted to be identified because of the sensitivity of the deal, said. He said Biocon is also evaluating the option of forming a collaborative partnership in clinical research with SIRO Clinpharm.

Prism completes MBF acquisition

Prism Cement on Monday said it has acquired the remaining 50% stake in Milano Bathroom Fittings Pvt Limited (MBF). Post-acquisition, this company becomes a wholly-owned subsidiary of Prism Cement and will continue to be managed through its H&R Johnson (India) division, a press release issued said.

The erstwhile H&R Johnson (India) Ltd had acquired a 50% stake in MBF in 2006.

Plethico ties up with Wal-Mart

Plethico Pharma on Monday said that it has joined hands with US retailing giant Wal-Mart for supplying its nutritional products to US consumers. Plethico Pharmaceuticals, through its wholly-owned subsidiary Natrol Inc, has entered into a supply contract with Wal-Mart, under which the Indian firm will supply 10 new nutraceutical brands to the retailer, the company said in a filing to the BSE.

DP World shelves London listing plan

Port operator DP World on Monday said it has postponed its plans for a dual listing on the London Stock Exchange due to problems in the trading system to support such a listing. The board has decided to postpone the listing process (on the London Stock Exchange) until an acceptable system that supports the dual listing is available, DP World said in a statement.

Wipro secures Microsoft award

Wipro on Monday said it has bagged the 2010 Microsoft Country Partner of the Year Award for India. We are delighted to get this award. Wipro has been at the forefront of consulting, architecting and implementing innovative solutions on the Microsoft platform, which have a high business impact for our customers, Wipros VP and business head (India, Middle East and Africa), Anand Sankaran said.

Crompton Greaves new plant in USA

Crompton Greaves on Monday announced the completion of its new transformer manufacturing facility in Washington, Missouri, US through its subsidiary CG Power Systems USA. Set up with an initial investment of $ 20 m, the facility is expected to generate close to 150 new jobs over the next three years, a company release said.