Adani Enterprises to supply coal to NTPC

Adani Enterprises will supply 4MT of coal imported from global sources between March to June 2012 to NTPC’s 14 power stations

Adani Enterprises, part of the Adani Group, has signed five agreements for supply of imported coal with NTPC Ltd, the country’s largest power generation company.

Adani Enterprises will supply 4 million tonnes (MT) of coal imported from global sources between March to June 2012 to NTPC’s 14 power stations across India. The imported coal is required to meet the coal blending requirements of the NTPC power stations.

The company will supply 1MT of imported coal to NTPC’s Talcher power stations, 1MT for Farakka and Kahalgaon stations, 0.5MT for Simhadri and Ramagundam stations, 0.8MT for Dadri, Rihand, Singrauli, Tanda, Unchchar and Vindhyachal stations and 0.7MT for Korba and Sipat stations.

Adani Enterprises is India’s largest importer of coal with a market share of over 50 percent with almost all the state-run power utilities in India as its customers. It is developing and operating mines in India, Indonesia and Australia as well as importing and trading coal from many other countries.

The company is expected to mine 200MT tonnes of coal per year in 2020, making Adani one of the largest mining groups in the world.

In the late afternoon, Adani was trading at around Rs356 per share on the Bombay Stock Exchange, 0.47% down from the previous close.

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Lupin launches generic Geodon capsules

Lupin’s Ziprasidone Hydrochloride capsules are the AB rated generic equivalent of Pfizer Inc’s Geodon capsules

Pharma major Lupin Ltd has received final approval for its Ziprasidone Hydrochloride Capsules, 20mg, 40mg, 60mg and 80mg strengths from the US Food and Drug Administration (FDA).

Lupin’s Ziprasidone Hydrochloride capsules are the AB rated generic equivalent of Pfizer Inc’s Geodon capsules. Lupin has already commenced shipping product.

Geodon capsules are antipsychotic and are indicated for Schizophrenia. Pfizer’s Geodon capsules had sales of $1.35 billion as per IMS Health, December 2011.

Nilesh Gupta, group president and executive director, Lupin said, “Patients can be assured that they are receiving the same high quality product they have been accustomed to at a more affordable price.”

In the late afternoon, Lupin was trading at around Rs492 per share on the Bombay Stock Exchange, 0.25% down from the previous close.

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Fortnightly Market View: Momentum slows

Risk-on trade takes a breather

In the previous column titled “Back to Basics”, I had...

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