Ahluwalia Contracts wins orders worth Rs476 crore for civil works

Ahluwalia Contracts (India) Ltd said it won orders worth around Rs476 crore for various civil works.

The company won an order worth Rs235 crore from Logix Infratech for civil and structural works for Logix-Blossom Green residential project. It has also won an order worth Rs55.2 crore from Ultra Space Developers, Mumbai, for civil and finishing works for residential project 'Insignia', said the company in a regulatory.

The orders worth Rs60 crore and Rs90 crore are from Sheth Developers, Mumbai, for construction of commercial building E-Zone IT Part at Thane and for construction of two residential towers' block at Vasant Lawns, Thane.

The company received another order for Rs51.9 crore from NBCC, New Delhi, for construction of National Press Centre at Raisina Road, while it had received an order for Rs77.4 crore from Samundra Developers for civil and finishing works for residential tower 'The Address' in Bandra, Mumbai.

The company received orders worth Rs26.8 crore from Guru Ashis Developers, Mumbai, for civil and structural works for residential towers in Sec-R9, re-development project at Siddarth Nagar, and an order worth Rs11.3 crore from Infinity BNKe Infocity for civil construction works in proposed IT Part at Salt Lake, Kolkata.

On Thursday, Ahluwalia Contracts shares gained 2% to Rs206 on the Bombay Stock Exchange, while the benchmark Sensex closed 0.6% up at 20,069 points.

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Sun Pharma gets FDA nod for generic heart disease drug

Drug maker Sun Pharmaceutical Industries Ltd said it received an approval for its abbreviated new drug application  (ANDA) from the US health regulator to sell a generic version of Crestor tablets, used in the treatment of various heart diseases, in the American market.

The company's US subsidiary has received the ANDA approval to market a generic version of IPR Pharmaceutical's Crestor tablets in strengths of 5mg, 10mg, 20mg and 40mg, Sun Pharma said in a statement.

Crestor has annual sales of nearly $3.4 billion in the US market. The generic Rosuvastatin tablets contain Rosuvastatin Calcium in strengths of 5mg, 10mg, 20mg and 40mg, it said.

The tablets are used in patients suffering with heart diseases like pertriglyceridemia and patients with homozygous familial hypercholesterolemia.

On Thursday, Sun Pharma shares gained 0.8% to Rs2,018 on the Bombay Stock Exchange, while the benchmark Sensex closed 0.6% up at 20,069 points.

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ADF Foods to acquire Elena’s Food Specialties

ADF Foods Ltd, provider of packaged Indian foods said it will ink an agreement to acquire assets of US-based Elena's Food Specialties Inc.

Elena's is a US-based manufacturer and marketer of organic and natural products and a provider of protein-based Mexican foods in the natural and organic category.

ADF will acquire all significant assets and certain liabilities of Elena's for an agreed consideration. The acquisition will be conducted by means of an asset purchase by ADF and/or its international subsidiary companies.

Some of Elena's existing shareholders will hold a minority stake in ADF's operating subsidiary in the US. The deal is expected to close by 20th October, the company said in a press release.

Through Elena's, ADF is increasing its presence in the US which is a high growth market for ethnic foods. All of Elena's products are produced from scratch at the company's facility in South San Francisco.

On Thursday, ADF shares jumped 9.6% to Rs87 on the Bombay Stock Exchange, while the benchmark Sensex closed 0.6% up at 20,069 points.

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