Dishman Pharmaceuticals spurted 8.63% to Rs 218.50 after its recently acquired company Carbogen-Amcis AG

Dishman Pharmaceuticals spurts. Dishman Pharmaceuticals spurted 8.63% to Rs 218.50 after its recently acquired company Carbogen-Amcis AG, announced a capital investment of $ 8 million for their additional Oncology production line

The counter clocked volumes of 3.19 lakh shares on BSE. The stock had surged 6.54% on Thursday, to Rs 201.15, ahead of the announcement.

Carbogen-Amcis AG, a Swiss firm which Dishman acquired recently would invest $8 million to set up another oncology production line. The investment would be funded from Carbogen-Amcis' cash accruals.

In October, Dishman Pharmaceuticals announced that Dishman Infrastructure has obtained 'in principle' approval from the Ministry of Commerce and Industry, Government of India for setting up one engineering SEZ and one pharmaceuticals and Fine Chemicals SEZ in Gujarat. The total investment will be around Rs 650 crore for both the SEZs, to be made over next three to five years and will be funded through a combination of debt/equity and internal accruals.

Dishman Pharmaceuticals is a Gujarat-based pharmaceutical company focussing on contract manufacturing for MNCs.

The company registered a marginal 0.20% rise in net profit for Q2 September 2006 to Rs 12.31 crore compared to Rs 12.29 crore in Q2 September 2005. Net sales rose 14.90% to Rs 60.59 crore (Rs 52.74 crore).

NTPC rose nearly 1% to Rs 130.70 after the government on Thursday gave NTPC a waiver on Rs 1000 crore-investment ceiling

NTPC powers ahead. NTPC rose nearly 1% to Rs 130.70 after the government on Thursday gave NTPC a waiver on Rs 1000 crore-investment ceiling which would enable the power generation major to bid for two large power projects.

34,516 shares changed hands in the counter on BSE.

The Cabinet Committee on Economic Affairs on Thursday gave its approval for waiving the ceiling of Rs 1000 crore for equity investments by NTPC to establish financial joint ventures and wholly owned subsidiaries in India or abroad for ultra mega projects. The Cabinet's decision will help NTPC bid for large power projects being established at the initiative of the ministry of power.

However the ceiling of 15% of the net worth of NTPC in one project and the overall ceiling of 30% of the net worth of NTPC in all such projects of NTPC put together remains.

In September 2006, NTPC commissioned a 210 MW unit in Uttar Pradesh which raised NTPC's totaled installed capacity including those owned through joint venture companies to 26404 MW.

In the same month, NTPC signed a Memorandum of Agreement (MOA) with the Government of Arunachal Pradesh for implementation of the 2 hydroelectric power projects in the states with a capacity of 4000 MW and 500 MW.

The company has also signed a Memorandum of Understanding with Delhi Transco for exploring the possibility of expanding its Badarpur Thermal Power Station, New Delhi by adding 2 x 490 MW Units subject to environmental and other clearances.

The company has also signed a Memorandum of Understanding with Haryana Power Generation Corporation and Indraprastha Power Generation Co to establish a 1500 MW Coal Based Power Plant in the State of Haryana, subject to establishment of techno-commercial feasibility and necessary clearances/approvals. The Plant will be set up by NTPC on concept to commissioning basis for the exclusive use of Haryana and Delhi on long-term management contract of at least 25 years.

NTPC's net profit rose 27% in Q2 September 2006 to Rs 1473.90 crore, on 15% growth in net sales to Rs 6813.80 crore.

Bajaj Auto Finance jumped 5.86% to Rs 480.25, after it priced its rights issue at Rs 325 per share

Pricing of rights issue boosts Bajaj Auto Finance. 7459 shares were traded on the counter on BSE. The counter had surged to a high of Rs 505, while its low was at Rs 470.

The stock witnessed a solid spurt in the past few days, from Rs 390.05 on 30 October, the stock surged to Rs 453.65 by 02 November 2006, on back of strong buying interest. It surged 16.32% in just 3 trading sessions.

Bajaj Auto Finance is issuing 6 rights shares for every 10 held. The proceeds would be used for expansion and retirement of high-cost debt. The board has also approved the issue of 5.25 million debentures and warrants, convertible at Rs 500 per share.

Bajaj Auto Finance, a Bajaj group NBFC, is largely into retail lending. Apart from the financing of two-wheelers and consumer durables, the company also caters to the financing of personal computers and personal loans.

For Q2 September 2006, Bajaj Auto Finance reported 49.80% fall in net profit to Rs 6.16 crore (Rs 12.26 crore). Total income rose 55% to Rs 82.16 crore (Rs 53.02 crore).