Ranbaxy’s distribution network caters to 44 of the 54 countries in the African continent.
Ranbaxy Laboratories announced the opening of its new manufacturing facility at Casablanca, Morocco paving the way for a direct business presence in North Africa. With the successful audit of the facility by the Moroccan health authorities, Ranbaxy is now authorised to commence manufacturing at its Casablanca facility and gain access to a USD 1 billion pharmaceutical market in Morocco.
Commenting on the inauguration of the facility, Mahendra Bharadwaj, head Africa, Ranbaxy, said “Ranbaxy has a significant presence in Africa with its own ground operations in key markets. This reinforces our commitment to the people of Morocco and the African continent.”
The company now has three manufacturing facilities in Africa – the other two being located in Nigeria and South Africa. Its distribution network caters to 44 of the 54 countries in the continent.
In the early afternoon, Ranbaxy Laboratories was trading at around Rs418 per share on the Bombay Stock Exchange, 0.36% up from the previous close.
JSW Steel is planning to set up an electrical steel manufacturing facility of 0.6 MTPA capacity at its integrated steel works in Vijayanagar.
JSW Steel is now foraying into the manufacture of electrical steel. The company is planning to set up an electrical steel manufacturing facility of 0.6 MTPA capacity at its integrated steel works at Vijayanagar. Initially, this facility shall produce 0.4-0.5 MTPA of cold rolled non-grain oriented grade electrical steel. Implemented in a phased manner, JSW envisages becoming the largest electrical steel producer in the country.
JSW and JFE signed a strategic collaboration agreement in the year 2010. The collaboration is now being extended to electrical steel. JSW aspires to fully equip in order to adhere to the stringent quality standards required in electrical steel with the support of JFE.
The present demand of electrical steel is about 0.5 MTPA and it is expected to double by the year 2016-17. The demand is expected to grow at a CAGR of 15%. JSW expects to cater to the growth by scaling its manufacturing facilities.
In the early afternoon, JSW Steel was trading at around Rs755.35 per share on the Bombay Stock Exchange, 1.06% up from the previous close.
Digital film distribution has helped wider film releases and helped control costs in 2011. However, Reduced ad spends had resulted in a slower growth rate for both television and print
The Indian media and entertainment industry is expected to register a CAGR (compounded annual growth rate) of 15% to touch Rs1,457 billion by 2016, says the latest FICCI KPMG report. And there is a high possibility that this growth may come on the back of digital technologies.
According to Yash Chopra, veteran filmmaker and chairman of FICCI Entertainment Committee, “2011 was clearly the year where digital technologies began to deliver on their promise. Digital film distribution has helped wider film releases and helped control costs. In television, the digitization of cable will transform business models of all stakeholders and offer consumers more choice and convenience. Even as digital generates new opportunities, it also brings with it challenges that the industry must solve more urgently than anticipated.”
While television is still the dominant medium in this sector, gaming, digital advertising and animation are also steadily increasing their footprints. Animation, VFX, etc recorded a phenomenal growth of 31% and touched Rs31 billion in 2011. Online media or rather ‘new media’ also showed a spectacular growth of 40% over the earlier year.
The FICCI KPMG report says that in 2011, the media and entertainment (M&E) industry registered a growth of 12% over 2010 and touched Rs1,457 billon. Reduced ad spends had resulted in a slower growth rate for both television and print. Advertising spends across all media accounted for Rs300 billion in 2011, contributing to 41% of the overall M&E industry revenues. Advertising revenues witnessed a growth of 13% in 2011 as against 17% observed in 2010.
Television is estimated to be worth Rs329 billion in 2011, and is expected to grow at 17% CAGR, and touch Rs735 billion in 2016. Radio is also expected to register healthy growth on the back of Phase III auctions due this year. Print, the second most prominent player, grew 8.4% from Rs193 billion in 2010 to Rs209 billion in 2011.
The film industry is supposed to grow at 10.1% CAGR from Rs93 billion in 2010 to Rs150 billion in 2016. The music industry registered a 5% growth over the previous year and touched Rs9 billion in 2011. The outdoor media sector was hit the hardest by the economic turmoil and saw a growth of 7.6% in 2011 over 2010.