L&T wins new orders worth Rs4,100 crore

The new orders are for the construction of airport expansion, hospital, commercial, residential buildings including factories

Larsen & Toubro’s (L&T) Buildings & Factories Independent Company, part of its Construction Division, has secured new orders worth Rs4,100 crore during the first quarter of FY2012 for the construction of airport expansion, hospital, commercial, residential buildings including factories.

L&T has secured new orders aggregating to Rs1,638 crore in the commercial buildings & airports business which includes design & construction of airport terminal expansion, hospital and medical college and other commercial buildings.

The company has also secured orders worth Rs2,051 crore for the construction of residential towers from developers across major cities.

New orders worth Rs411crore have been secured for the construction of factories including additional orders in the ongoing contracts.

These orders further enhance the order book of the company which has already secured for major design & build contracts in airports, IT Parks commercial and residential space.

On Wednesday, L&T ended 0.41% up at Rs1,652.95 on the Bombay Stock Exchange, while the benchmark Sensex declined 0.06% to 17,550.63.

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L&T Infrastructure Development signs Rs2,600 crore agreement with NHAI

The project would be executed on design, build, finance & operate basis, with a concession period of 23 years

L&T BPP Tollway Pvt Ltd, a SPV incorporated by L&T Infrastructure Development Projects Ltd, has signed a concession agreement with NHAI for four-laning of the 244 km stretch of NH14 between Beawar and Pindwara situated in Rajasthan.

The project would be executed on design, build, finance & operate basis, with a concession period of 23 years. The estimated project cost is Rs2,600 crore, and the project is scheduled to be completed in 30 months. The concessionaire is entitled to collect toll from the users of the project highway during the concession period on completion of four-laning.

The project corridor is one of the main evacuation routes for traffic from Kandla and Mundra Ports, destined to hinterlands spread out in Northern India, extending to Rajasthan, Haryana, Delhi, Punjab and beyond. The project corridor falls within the proposed Delhi-Mumbai Industrial Corridor (DMIC) and the four-laning of the 244km stretch of NH-14 within this industrial corridor is expected to accelerate the development and growth prospects in this region.

With this project, L&T currently has 16 projects in its BOT roads portfolio, out of which 7 are presently in operation phase, 8 in construction phase, and this project is entering the development phase, thus cumulating in a length of 6,700 lane km and a total length of 1,461 km, and a total project book size of Rs15,800 crore.

On Wednesday, L&T ended 0.41% up at Rs1,652.95 on the Bombay Stock Exchange, while the benchmark Sensex declined 0.06% to 17,550.63.

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Lupin’s subsidiary gets USFDA approval for anti-bacterial tablet

Lupin Pharmaceuticals Inc has received the US health regulator’s nod to market generic levofloxacin tablets, used for the treatment of bacterial infections

Drug firm Lupin today said its US subsidiary, Lupin Pharmaceuticals Inc, has received the US health regulator’s nod to market generic levofloxacin tablets, used for the treatment of bacterial infections, in the American market.

The United States Food and Drug Administration (USFDA) has granted final approval for the company’s abbreviated new drug application (ANDA) to market a generic version of levofloxacin tablets, Lupin Ltd said in a statement.

Levofloxacin is marketed under the brand name Levaquin by Ortho McNeil (Johnson & Johnson) in the US market.

“Levaquin tablets had annual sales of approximately $1.6 billion for the twelve months ended March 2011, based on IMS Health sales data,” Lupin said.

The company’s levofloxacin tablets in the strengths of 250 mg, 500 mg and 750 mg are the generic equivalent of Levaquin tablets in the same strengths, it added.

Levofloxacin is used for treating a broad spectrum of bacterial infections.

On Wednesday, Lupin ended 2.29% down at Rs425.05 on the Bombay Stock Exchange, while the benchmark Sensex declined 0.06% to 17,550.63.

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