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Corporate Briefs

Zydus launches Nupatch

Zydus Cadila has launched indigenously manufactured diclofenac transdermal patch for pain relief under the brand name Nupatch. 'Nupatch's novel drug delivery system through transdermal delivery route addresses significant problems ' like gastric irritation and need for consuming multiple pills in a day ' posed by traditional oral dosage forms,' the Ahmedabad-based company stated in a release. Nupatch has been manufactured at Zydus Cadila's transdermal facility at Maraiya in Ahmedabad, it added.

Hyundai target

Hyundai Electronics has set a turnover target of Rs 600 crore in India in 2005-06. At present it offers flat TVs, DVDs and airconditioners. It will introduce 12 CTV models by June. The company plans to enter the frost-free refrigerator and microwave oven categories by Diwali this year. It aims to become one of the top three brands by 2010.

AllBank offer

Allahabad Bank has tied up with Mahindra Gujarat Tractor for financing their Hindustan brand of tractor under a special finance scheme. The minimum land holding criteria to avail of tractor loans under the scheme has been reduced to 3 acres in case of 35 HP tractors and 4 acres for above 35 HP tractors.

Max move

Max New York Life has signed up cricketer Rahul Dravid as its brand ambassador. Under the agreement, Dravid will feature in Max New York Life's ad campaigns and will also participate in special promotional events.

Bajaj sales

Bajaj Auto Ltd has posted a 52 per cent growth in motorcycle sales in April at 1,37,858 units compared with 90,532 units sold during the same period last fiscal. Bajaj's combined sales of two and three-wheelers in the country in April were up by 36 per cent at 1,65,045 units compared with 1,21,399 units sold in the same period last year, the company said.

Vijay Text

Vijay Textiles Ltd said it has allotted 6.65 crore equity of Re 1 each as bonus shares to existing shareholders in the ratio of 2:1, the company informed the Bombay Stock Exchange.

Verisign plan

Verisign Inc has opened its India development centre in Bangalore and announced a $6 million investment in IT for this year. The centre would initially employ 50 employees and expects to increase the headcount to 125 by the end of 2005.

Philips launch

Philips India has launched three new DVD hi-fi models. It will roll out retail contests like Hi-Fi Sajao and Heera Le Jao for dealers across 11 cities.

Nest turnover

Nest group has posted an 80 per cent rise in turnover at Rs 450 crore in 2004-05 against Rs 250 crore in the previous year.


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