Birla Sun Life AMC to launch 371 days fixed term plan

Birla Sun Life AMC new issue closes on 29th March

Birla Sun Life Asset Management Company is launching Birla Sun Life Fixed Term Plan-Series CX, a close-ended income scheme.

The scheme seeks to generate income by investing in a portfolio of fixed income securities maturing on or before the duration of the scheme. The scheme will have duration of 371 days from and including the date of allotment.

The issue opens and closes for subscription on 29 March 2011. The minimum investment amount is Rs5,000.

The benchmark index of the scheme is CRISIL Short term Bond Fund Index.

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Dr Reddy’s launches levocetirizine tablets in US

Dr Reddy’s Laboratories has launched levocetirizine tablets, which are used for relieving allergies, in the American market

Drug firm Dr Reddy's Laboratories said it has launched levocetirizine tablets, which are used for relieving allergies, in the American market.

The US Food and Drug Administration approved its abbreviated new drug application for levocetirizine tablets on 24th February, Dr Reddy's Laboratories said in a filing to the Bombay Stock Exchange (BSE).

The product, which is a generic equivalent of UCB's Xyzal tablets, is used to treat or prevent symptoms of allergies. It is also used to help reduce itchy skin rash and hives.

The company has launched the tablet in 5mg strength in the US market. The tablets are available in 90 count bottles.

According IMS Health Sales data, levocetirizine tablets posted sales of about $238 million in the US market for the 12-month period ended 30 September 2010.

On Monday, Dr Reddy's Laboratories ended 0.03% up at Rs1,550 on the BSE, while the benchmark Sensex gained 0.68% to 18,943.14.

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Reliance Broadcast enters regional TV space with Big Magic

Reliance Broadcast Network has entered the regional television space with the launch of its Hindi entertainment channel—Big Magic

Anil Ambani-led Reliance Broadcast Network Ltd (RBNL) has announced its foray into the regional television space with the launch of its Hindi entertainment channel-Big Magic.

The channel, which will be targeted at the core Hindi heartland, will be launched on 4th April. Big Magic, which will feature locally relevant entertainment around humour, music and Bollywood, will derive huge synergies with its radio brand, 92.7 BIG FM, RBNL said in a statement.

RBNL already runs two English entertainment channels-Big CBS Prime and Big CBS Love. The Hindi heartland-comprising Uttar Pradesh, Madhya Pradesh and Bihar- together account for 13% of the national advertising spend (which is Rs23,000 crore), pointing at an enormous opportunity.

Big Magic will offer an effective platform for enhanced reach in the Hindi Heartland for brands, national as well as regional, the statement said. "The Hindi heartland represents 30% of India's population and by far the most attractive and lucrative market for advertisers. This under-serviced market, offers an excellent opportunity to offer audiences entertainment that is tailored to meet their preferences," RBNL CEO Tarun Katial said.

Big Magic will be distributed across all cable operators across these states. The channel will be supported with a high decibel marketing plan including outdoor, mall activation, play-out seeding in malls, radio, print and local cable, it added.

The TV spend attributable to the region (UP, MP and Bihar) is Rs1,200 crore, with national TV channels currently garnering around Rs1,050 crore of this amount, the statement said.

On Monday, RBNL ended 2.72% up at Rs75.55 on the Bombay Stock Exchange, while the benchmark Sensex gained 0.68% to 18,943.14.

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