PSL wins Rs753 crore order to supply pipe for 735 km

PSL has won a Rs753 crore order to supply pipe for 735 km, including line pipe and three-layer polyethylene coating for GAIL’s KKBMPL project

Steel pipe manufacturer PSL said it has won a Rs753 crore order to supply pipe for 735 km, including line pipe and three-layer polyethylene coating for GAIL’s KKBMPL project.

The total order value stands at around Rs753 crore and the total length of pipe to be supplied is an estimated 735 km, the company said in a statement.

The company will supply line pipe and three-layer polyethylene coating for GAIL’s Kochi-Koottanad-Bangalore-Mangalore Gas Pipeline (KKBMPL) project.

PSL will also supply 24 inch diameter pipe, conforming to API 5L X-70 and X-80 Grades, out of its Chennai and Visakhapatnam pipe mills.

The order-book for the company stands at Rs2,200-crore, with several tenders bid under evaluation and awaiting award, it said.

“The recent orders we have secured from GAIL have special significance for PSL as a company, since they stand as a testament to our capability as a key enabler of India's gas pipeline and infrastructure projects,” PSL managing director Ashok Punj said.

PSL manufactures pipes in India through 14 pipe mills at Kandla, Chennai, Visakhapatnam and Jaipur, along with international subsidiaries in the Middle-East and USA. The annual pipe manufacturing capacity of the company stands at 1,775,000 MT per year.

On Wednesday, PSL ended 0.73% down at Rs74.65 on the Bombay Stock Exchange, while the benchmark Sensex declined 0.96% to 18,132.24.

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Tata Motors global sales up 11% to 88,251 units in May

Tata Motors sales of luxury brands from Jaguar Land Rover were at 22,296 units during May 2011, up 17% from the same month last year

Tata Motors said its global sales increased by 11% in May to 88,251 units driven mainly by commercial vehicles and Land Rover.

Sales of luxury brands from Jaguar Land Rover were at 22,296 units during May, up 17% from the same month last year, Tata Motors said in a statement.

While sales of luxury sedans of Jaguar brand declined by 18% last month to 4,221 units, Land Rover sales grew 30% at 18,075 units, it added.

It said total passenger vehicles sales stood at 44,181 units in May 2011, a growth of 2% from the same month last year.

Commercial vehicles sales were up by 20% to 44,070 units from the same month last year, it added.

The Tata Motors Group’s global sales comprise Tata, Tata Daewoo and Hispano Carrocera range of commercial vehicles, Tata passenger vehicles, along with the distributed brands in India, Jaguar and Land Rover.

On Wednesday, Tata Motors ended 0.96% up at Rs993.40 on the Bombay Stock Exchange, while the benchmark Sensex declined 0.96% to 18,132.24.

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Lupin acquires worldwide rights for Goanna brand

Goanna brand is being sold by about 83% pharmacies in Australia

Pharma major Lupin Ltd said that its Australian subsidiary, Generic

Health Pty Ltd has acquired the worldwide rights to the Goanna brand and the complete range of premium therapeutic oils, rubs and ointments marketed under the brand.  

Founded in 1910, the Goanna brand has been trusted by generations of Australians to provide effective relief of muscular aches and pains and other conditions such as arthritis.  

Lupin, through its subsidiary Generic Health is excited to add this heritage brand to the existing portfolio of quality prescription and over-the-counter products and looks forward to continuing the brand’s rich tradition of excellence.

The brand is being sold by about 83% pharmacies in Australia, which would also go a long way in increasing the company reach in the market.  

Vinod Dhawan, president (Asia, Africa, Middle East and Latin America) and business development, Lupin said, “Since Goanna is an in-market, commercial product, our sales and marketing efforts will commence immediately and we are optimistic of it contributing positively to our topline in the coming years.”

On Wednesday, Lupin ended 0.48% up at Rs441.35 on the Bombay Stock Exchange, while the benchmark Sensex declined 0.96% to 18,132.24.

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