Varun Shipping Q1 net profit surges to Rs23.5 crore

Mumbai-based Varun Shipping Company Ltd registered a net profit of Rs23.5 crore for the 30 June 2010 quarter as compared to Rs1.9 crore in the same quarter a year ago. During the June 2010 quarter, the company's total revenue increased to Rs240.6 crore from Rs222.2 crore in June 2009 quarter, it said in a regulatory filing.

On Thursday, Varun Shipping shares increased 16.4% to Rs47 on the BSE, while the benchmark Sensex closed 0.2% down at 18,172 points.

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Birla Sun Life appoints Jayant Dua as managing director

Birla Sun Life Insurance Co Ltd said it appointed Jayant Dua as its managing director

Prior to Birla Sun Life Insurance, Mr Dua spearheaded Aditya Birla Insulators (ABI) in the capacity of president and chief executive officer (CEO), the company, a unit of Aditya Birla Nuvo Ltd, said in a release.

On Thursday, Aditya Birla Nuvo shares ended 0.06% higher at Rs814 on the BSE, while the benchmark Sensex closed 0.2% down at 18,172 points.

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Glenmark Pharma unit gets USFDA for Ciotrimazole cream

Glenmark Pharmaceuticals Ltd said its unit Glenmark Generics received abbreviated new drug application (ANDA) approval from the US Food and Drug Administration (USFDA) to sell Ciotrimazole cream USP 1% in that country.

Clotrimazole is used for the topical treatment of candidiasis due to Candida albicans and tinea versicolor. According to IMS Health, the product achieved annual sales of $26 million for the 12 months ending March 2010, the company said in a release to the Bombay Stock Exchange (BSE).

On Thursday, Glenmark shares rose 0.6% to Rs266 on the BSE, while the benchmark Sensex closed 0.2% down at 18,172 points.

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