Open sales of Tata Nano extended across India

Tata Motors Ltd has announced open sales of the Tata Nano in all the remaining states of India. The car was thus far freely available in 12 states. Customers across the country, who are desirous of driving home a Tata Nano but had not booked the car during 2009, will now be able to purchase a Tata Nano from the company's 874 sales outlets in India.  

The Tata Nano comes with a four-year/60,000km (whichever is earlier) manufacturer's warranty, at no extra cost. In addition, customers have the option to avail of a comprehensive maintenance contract at only Rs99 per month. This contract will help take care of running maintenance of the car.
Tata Motors Finance (TMF), which provides finance for all Tata Motors vehicles, has launched a special Tata Nano finance scheme, under which a customer can get up to 90% loan with select documents in just 48 hours. Besides, Tata Motors has tied up with 28 banks and NBFCs to offer customers loans for purchasing the Tata Nano at attractive rates of interest.

Customer satisfaction studies with current Tata Nano owners indicate that over 80% are satisfied or very satisfied with the car, because of it being small yet spacious, its performance, maneuverability, durability, mileage and safety.

Besides its dealership showrooms, the company is setting up Special Nano Access Points for customers in the hinterlands to experience, test-drive or test-ride the car.

On Monday, Tata Motors ended 0.01% up at Rs1,306.45 on the Bombay Stock Exchange, while the benchmark Sensex gained 0.25% to 20,561 points.

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Lupin settles ongoing litigation with Sunovion over generic of Lunesta

Pharma company Lupin Ltd said that the company along with its subsidiary, Lupin Pharmaceuticals, Inc has settled all ongoing litigation over Lunesta (Eszopiclone) tablets, thereby dismissing a patent suit brought by the drug's manufacturer Dainippon Sumitomo Pharma Co, Ltd's subsidiary Sunovion Pharmaceuticals Inc.

The settlement entitles Lupin to sell its generic version of Lunesta under a license as soon as 30 November 2013 (two and a half months prior to the expiry of United States Patent 6,444,673). The date would be pushed back to 31 May 2014, if Sunovion obtains six months additional pediatric exclusivity for the product. Sales of Lunesta were $787 million in the 12 months ended September 2010.

On Monday, Lupin ended 1.31% up at Rs486.75 on the Bombay Stock Exchange, while the benchmark Sensex gained 0.25% to 20,561 points.

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L&T’s railway business unit wins orders worth Rs1,103 crore

Larsen & Toubro (L&T) said its railway business unit has won orders worth Rs1,103 crore from various power plant developers for the construction of 'Merry-Go-Round' Systems and construction of railway lines to link power plant sites to the main line rail network.

The division has received an order worth Rs365 crore from Maithon Power Ltd for construction of a 21 km rail link to its power plant at Maithon in Jharkhand.

Nabha Power Ltd, a wholly owned subsidiary of L&T Power Development Ltd, has placed an order valued at Rs270 crore for construction of a 13 km double-track electrified rail link to its power plant at Rajpura in Punjab. Balco has awarded L&T a Rs151 crore order for strengthening its existing railway facilities at Korba in Chhattisgarh.

L&T's railway business unit has also secured orders worth Rs317 crore from Sterlite Energy Ltd for further enhancement of its railway facilities that are already under implementation at Jharsuguda in Orissa.

The orders will be executed by the rail infra division, a part of L&T's railway business unit, Faridabad on a design, build and lump sum turnkey basis. The scope of the projects encompasses carrying out detailed layout and structural designs, obtaining statutory approvals from Indian Railways, construction and commissioning of integrated railway facilities, execution of activities like earth work in embankment, construction of various types of bridges including rail and road flyovers, track laying, railway signaling and overhead electrification.

On Monday, L&T ended 0.03% up at Rs1,979.65 on the Bombay Stock Exchange, while the benchmark Sensex gained 0.25% to 20,561 points.

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