SAIL to expand network in rural India

SAIL plans to rope in at least two dealers in every district of the country

The Steel Authority of India Ltd (SAIL) is now giving special emphasis on expanding its scope of business in rural India, company sources said. Towards that aim, SAIL plans to rope in at least two dealers in every district of the country.

To enhance efficiency of its retail activity, they are concentrating on availability of materials in small customised lots and bundles, sources said.

To enhance product knowledge and popularise steel consumption among present and prospective buyers, SAIL has been holding frequent meetings of dealers with masons, structural engineers and architects.

SAIL has also introduced the "exclusive dealer" scheme, which has helped to strengthen the activities of the network spread across the country.

They also plan to open company-owned retail shops which will serve as model stores in terms of service, products and information.

On Friday, SAIL ended 0.06% up at Rs154 on the Bombay Stock Exchange, while the benchmark Sensex gained 0.39% to 17,700.91.

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Glenmark US arm gets USFDA nod for anti-allergy tablets

Glenmark Generics Inc has been granted final approval for their ANDA from the United States Food and Drug Administration for Levocetirizine Dihydrochloride 5mg tablets

Pharma major Glenmark Pharmaceuticals Ltd said its US arm has received final approval from the US health regulator to market generic Levocetirizine Dihydrochloride tablets used for treating allergies in the American market.

"Glenmark Generics Inc has been granted final approval for their Abbreviated New Drug Application (ANDA) from the United States Food and Drug Administration for Levocetirizine Dihydrochloride 5mg tablets," Glenmark said in a filing to the Bombay Stock Exchange (BSE).

The tablets are generic version of UCB Inc's Xyzal tablets, it added.

Quoting IMS Health, Glenmark said: "Total US sales as reported by IMS Health for the 12-month period ending December 2010 were approximately $231 million."

Levocetirizine Dihydrochloride tablets are used for relief of symptoms associated with allergic rhinitis, which is an allergic inflammation of the nasal airways.

On Friday, Glenmark ended 0.60% down at Rs280.40 on the BSE, while the benchmark Sensex gained 0.39% to 17,700.91.

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UTI–Master Value Fund declares tax-free dividend of 10%

The record date for the UTI–Master Value Fund dividend is 1 March 2011

UTI-Master Value Fund declares tax-free dividend of 10% (Re1 per unit on face value of Rs10). The record date for the dividend is 1 March 2011.

The NAV per unit as on 23 February 2011 was Rs22.77 under the dividend option.

The scheme has declared dividend at regular intervals.

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