Sujana Universal to merge EBC Bearings with itself

Sujana Universal Industries Ltd (SUIL) said it will soon initiate the process to merge EBC Bearings Ltd (EBC) with itself.  SUIL bought EBC, which owns a facility in Hyderabad that can manufacture medium and large sized bearings.

Sujana Universal's light engineering components division has capacity to manufacture ball and taper bearings of 300 mm. The acquisition of EBC will enable Sujana Universal to expand the product range up to 700 mm. It will also help to meet the demand for large bearings in India which is presently being met through imports.

On Monday, Sujana Universal shares rose 0.3% to Rs10 on the Bombay Stock Exchange, while the benchmark Sensex gained 1.6% to 19,906 points

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IVRCL-Kakade Infra consortium wins Rs1,500 crore project

IVRCL Infrastructures & Projects Ltd said its consortium with  Kakade Infrastructure won an order worth Rs1,500 crore for construction-related works.
The scope of work includes extension of the Pune-Mumbai Expressway, widening of flyovers and underpasses and establishment of foot over-bridges from BARC to Kalamboli junction, the company said in a filing to the Bombay Stock Exchange (BSE).

The project will be developed by the company's subsidiary, IVRCL Assets & Holdings, while the company will do the construction work itself. The project is expected to be completed in the next 36 months, it added.

On Monday, IVRCL Infra shares ended 0.9% up at Rs159 on the BSE, while the benchmark Sensex gained 1.6% to 19,906 points.

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Piramal starts phase-II clinical trials of diabetes drug

Piramal Life Sciences said it has started phase-II clinical trials of a molecule, aimed at treating diabetes, in Europe and India.

The company initiated the phase-II study of 'P1736-05', an insulin sensitising compound, which is being developed for the treatment of type-2 diabetes in India and Europe, Piramal Life Sciences said in a filing to the Bombay Stock Exchange (BSE).

P1736-05 is likely to provide a safe and effective therapeutic option to type-2 diabetic patients. While, the company has been granted an approval by Indian regulatory authorities, in Europe various EU regulatory authorities have granted an approval for conducting the trials, it added.

According to the World Health Organisation (WHO), Type-2 Diabetes Melitus is an emerging worldwide health crisis with an incidence rate of 300 million by 2025. Type-2 Diabetes Melitus or non-insulin dependent diabetes accounts for about 95% of the diabetic population.

On Monday, Piramal Life Sciences shares ended 5% higher at Rs191 on the BSE, while the benchmark Sensex gained 1.6% to 19,906 points.

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