Bajaj Auto has launched its new Discover 125cc motorcycle in the Tamil Nadu market and expects the sales volume of its Discover brand to grow to 1.5 lakh per month this fiscal
Bajaj Auto Ltd has launched its new Discover 125cc motorcycle in the Tamil Nadu market and expects the sales volume of its Discover brand to grow to 1.5 lakh per month this fiscal.
"With the launch of Discover 125cc, we expect the sales volume of our Discover brand to rise to 1.5 lakh per month for 2011-12 fiscal from the present 1.2 lakh," Bajaj auto zonal manager-motorcycle business Guruprasad said.
He added that out of the 30,000 monthly addition of vehicles next fiscal, at least 20,000 would be Discover 125cc, which is powered with tough engine and optimum combination of mileage and power at a price of Rs45,392 (ex-showroom).
The discover 125cc is the third motorcycle to be launched by the company after the successful Discover 100cc and Discover 150 models.
Claiming that the company is the second largest two-wheeler brand in the world, Guruprasad said over 40 lakh motorcycles of the Discover brand, launched in 2008-09, were on the road across the country.
The company has a market share of 27% in the country and is witnessing a 2.6% growth year-or-year nationally, while in Tamil Nadu it is registering 37% growth, he said.
Launched in Kerala and Karnataka a couple of days ago, the vehicle would soon be launched in Maharashtra and Gujarat, and the rest of the country in a phased manner.
On Wednesday, Bajaj Auto ended 1.77% up at Rs1,474.05 on the Bombay Stock Exchange, while the benchmark Sensex gained 1.83% to 19,470.98.
Mahindra Logistics is scouting for a partner in China as it looks to expand its new foray into the international markets
Mahindra Logistics, the transportation and logistics arm of the Mahindra & Mahindra group, said it is scouting for a partner in China as it looks to expand its new foray into the international markets.
The company, which clocked a turnover of Rs1,000 crore last fiscal, is eyeing a growth of 25% this year.
It also plans to set up 11 warehouses in North, South and West India in partnership with developers to enhance its supply chain management services ahead of the planned rolled out of Goods and Services Tax.
"We are looking at all the international markets for freight forwarding by both sea and air. The top two priority markets are the US and China," Mahindra Logistics CEO Pirojshaw Sarkari told PTI.
Considering the traffic between India and China, he said the company is "looking for a partner in China to expand the freight business."
"As for the US market we are currently developing lane," he said, adding, the choosing a partner would come later.
Six months back Mahindra Logistics had started its international vertical in sync with the global expansion of the M&M group and got into freight forwarding.
On the domestic front, Sarkari said the company expects consolidation by many corporates in their logistics chain once GST is introduced in India and Mahindra Logistics would look to tap the opportunity by strengthening its warehousing facility.
"We will be setting up three mega warehouses of 5,00,000 sq ft and another eight smaller ones of around 1,50,000 sq ft-2,00,000 sq ft," he said. These will be leased out from developers who will build them according to the company's requirements, he added.
Out of the total, Rs300 crore were from the people transport services provided to many BPOs, ITes and other corporates, he said, adding the rest Rs700 crore were from the supply chain management vertical.
Sarkari said the company has made investments of over Rs10 crore in technology and "with a growing focus on transportation, warehousing and international logistics, we are set to become truly globally competitive."
Lupin has received tentative approval from the US health regulator for its generic Metformin Hydrochloride extended-release tablets, used in the treatment of diabetes, in the US market
Drug maker Lupin has received tentative approval from the US health regulator for its generic Metformin Hydrochloride extended-release tablets, used in the treatment of diabetes, in the American market.
The company's US arm Lupin Pharmaceuticals Inc has received approval from the US Food and Drug Administration for Metformin Hydrochloride extended-release tablets in the strengths of 500mg and 1,000mg, Lupin said in a statement.
The company's product is generic equivalent of Andrx Labs LLC's Fortamet 500mg and 1,000mg tablets and is indicated as a supplement to diet and exercise to improve glycemic control in adults with type 2 diabetes mellitus, it said.
Lupin Pharmaceuticals CEO Vinita Gupta said: "This product approval demonstrates our commitment to enhance our generic pipeline, leveraging our development and manufacturing strengths in extended-release dosage forms."
The company believes it is the first applicant to file an abbreviated new drug application for Fortamet 500mg and 1,000mg and that could translate into 180 days of marketing exclusivity for its product.
"Upon receiving final approval by the FDA, Lupin believes that the 500mg and 1,000mg strengths of its product will be entitled to 180 days of marketing exclusivity," it said.
As per IMS Health data, annual sales for Fortamet in the US stood at $83 million for the 12 months ending December 2010, it added.
On Wednesday, Lupin ended 2.06% up at Rs416.25 on the Bombay Stock Exchange, while the benchmark Sensex gained 1.83% to 19,470.98.