GEI wins two orders of Rs64 crore from power sector

Engineering company GEI Industrial Systems Ltd said it won two orders, worth Rs64 crore, from the power sector for the supply of air cooled steam condensers.

The company will set up power plants for Ind-Barath Thermal Power Ltd at Tuticorin in Tamil Nadu. It will also set up a captive power plant for Shree Renuka Sugars Ltd at Gandhidham in Gujarat, it said in a regulatory filing.

On Wednesday, GEI shares closed 0.8% up at Rs132 on the Bombay Stock Exchange, while the Sensex ended at 0.3% down at 17,938 points.

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Glenmark gets FDA approval for theophylline extended-release tablets

Glenmark Pharmaceutical Ltd said its unit received abbreviated new drug application (ANDA) approval from the US Food and Drug Administration (USFDA) to introduce Theophylline extended-release tablets in the US market.

Theophylline extended-release tablets, used in treatment of chronic asthma and other chronic lung diseases, are the generic version of LP Uniphyl of Purdue Pharmaceutical Products. Glenmark’s extended-release tablets are available in strengths of 400 mg and 600 mg. The company will commence marketing and distribution of this product in the US.

According to IMS Health, Theophylline extended-release tablets had annual sales of $8 million.

On Wednesday, Glenmark shares closed 0.6% up at Rs279 on the Bombay Stock Exchange, while the Sensex ended at 0.3% down at 17,938 points.

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Tulip Telecom gets FCC clearance to sell data connectivity services in US

Tulip Telecom Ltd said its subsidiary Tulip Telecom Inc received a clearance from the Federal Communications Commission (FCC), which enables the company to sell data connectivity services in the US.

Having received this clearance, the data connectivity service provider now has the authority to provide resale services in accordance with the commission's rules to serve US based customers that may have connectivity requirements into India and other parts of the world, it said in a regulatory filing.

On Wednesday, the company shares closed 1% up at Rs173 on the Bombay Stock Exchange, while the Sensex ended at 0.3% down at 17,938 points.

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