Company aims to sell around 500 units within the first six months of the launch
New Delhi: British motorcycle brand Triumph on Thursday entered India with 10 models, priced between Rs 5.7 lakh and Rs 20 lakh (ex-showroom Delhi), to challenge the dominance of Harley-Davidson here.
The US motorcycle maker, which has on offer 12 motorcycles between Rs 5.91 lakh and Rs 29 lakh, accounts for three of every four superbikes (with engine capacity above 550cc) sold in India. Triumph is expecting to close the year with sales of 50,000 bikes. Harley’s annual sales are 250,000 bikes.
Triumph, which has set up a wholly owned subsidiary in the country, will start delivering its bikes from January next year. Bookings are scheduled to begin in the second week of December.
Vimal Sumbly, managing director, Triumph Motorcycles India, said, “We are looking at selling 400-500 units in the next six months. In the next financial year (the company follows July-June financial year), we are eyeing sales of over 1,000 bikes.” The company plans to have nine dealerships by the end of March. “In the first phase, we will start sales through two dealerships in Hyderabad and Bangalore in December. Two more outlets in Delhi and Mumbai would be operational by the end of January. In the second phase of expansion, we will add dealerships in Kolkata, Chennai and Pune to have a total of nine sales points,” said Sumbly.
While six of the 10 models on offer in India will be assembled locally, the costlier ones — Thunderbird Storm, Rocket III Roadster, Tiger 800 XC and Tiger Explorer — will be imported as completely built units from the UK and Thailand.
Success in my Habit
Monday, December 2, 2013
Cadila Pharma working on super-bug NDM-1; soon to commercialize India's first VLP vaccine
AHMEDABAD: Ahmedabad-based Cadila Pharmaceuticals Ltd, a privately owned drug company by Modi family, will commercialise India's first virus like particle (VLP) based technology seasonal flu vaccine within next 18 months. The company is also working on antibiotic resistance breaker (ARBs) technology to solve the problem rising from the super-bug - New Delhi Metallo-beta-lactamase-1 (NDM-1).
Rajiv Modi, Chairman and managing director of Cadila Pharmaceuticals Ltd said "The VLP technology flu vaccine would be commericialised within next 12 to 18 months". In 2009, Cadila Pharmaceutical acquired 12.5 million shares of Nasdaq-listed Novavax for an aggregated amount of $11 million then.
Same year, Novavax and Cadila Pharma created a joint venture called CPL Biologicals Pvt Ltd, to develop and manufacture vaccines using VLP technology. Traditionally, in India and throughout the world, conventional egg-based technology is used to produce vaccine. However, egg-based technology is time consuming and it requires huge capital investment for creating its infrastructure, thus making egg-based vaccines are costly.
While, the new technology VLP are cheaper and is faster in producing a vaccine for a new flu. Usually, this technology has a huge potential for vaccine making for flue virus which mutates quickly.
According to Mr Modi, the company has already applied to Drug Controller General of India (DCGI) for getting the approval for VLP-based seasonal flu vaccines. The company is also working on developing another three VLP-based vaccines for Rabies vaccine, Human Papillomavirus (HPV) and Hepatitis E Virus (HEV).
The company is also working on antibiotic resistance breakers (ARBs) technology after a recent collaboration with UK-based Helperby Therapeutics. "If everything goes well, we would be able to commercialize the ARBs within another three years." said Mr Modi.
ARBs is a technology which can be combined with other antibiotics to treat those diseases where bacteria have developed capacity to withstand even higher dosages of antibiotic drugs, thus making those bacteria a drug resistant bacteria.
There are 20 classes of antibiotic drugs out of which Cadila Pharmaceuticals is working on five classes including on a antibiotic class that faces difficulties from - New Delhi Metallo-beta-lactamase-1 (NDM-1). The super-bug NDM-1 is an enzyme that makes bacteria resistant to a broad range of antibiotics.
The super-bug have been found in drinking water around New Delhi and in patients in over 35 countries, many of them medical tourist who traveled to India for medical care then returned home to Western countries. According to the World Health Organisation (WHO) the first reports of extensively drug-resistant tuberculosis or XDR TB began surfacing in 2006.
Rajiv Modi, Chairman and managing director of Cadila Pharmaceuticals Ltd said "The VLP technology flu vaccine would be commericialised within next 12 to 18 months". In 2009, Cadila Pharmaceutical acquired 12.5 million shares of Nasdaq-listed Novavax for an aggregated amount of $11 million then.
Same year, Novavax and Cadila Pharma created a joint venture called CPL Biologicals Pvt Ltd, to develop and manufacture vaccines using VLP technology. Traditionally, in India and throughout the world, conventional egg-based technology is used to produce vaccine. However, egg-based technology is time consuming and it requires huge capital investment for creating its infrastructure, thus making egg-based vaccines are costly.
While, the new technology VLP are cheaper and is faster in producing a vaccine for a new flu. Usually, this technology has a huge potential for vaccine making for flue virus which mutates quickly.
According to Mr Modi, the company has already applied to Drug Controller General of India (DCGI) for getting the approval for VLP-based seasonal flu vaccines. The company is also working on developing another three VLP-based vaccines for Rabies vaccine, Human Papillomavirus (HPV) and Hepatitis E Virus (HEV).
The company is also working on antibiotic resistance breakers (ARBs) technology after a recent collaboration with UK-based Helperby Therapeutics. "If everything goes well, we would be able to commercialize the ARBs within another three years." said Mr Modi.
ARBs is a technology which can be combined with other antibiotics to treat those diseases where bacteria have developed capacity to withstand even higher dosages of antibiotic drugs, thus making those bacteria a drug resistant bacteria.
There are 20 classes of antibiotic drugs out of which Cadila Pharmaceuticals is working on five classes including on a antibiotic class that faces difficulties from - New Delhi Metallo-beta-lactamase-1 (NDM-1). The super-bug NDM-1 is an enzyme that makes bacteria resistant to a broad range of antibiotics.
The super-bug have been found in drinking water around New Delhi and in patients in over 35 countries, many of them medical tourist who traveled to India for medical care then returned home to Western countries. According to the World Health Organisation (WHO) the first reports of extensively drug-resistant tuberculosis or XDR TB began surfacing in 2006.
Japan's Air Water picks up 51% in Ellenbarrie
Kolkata: Japanese industrial gas maker Air Water Inc has acquired a 51 per cent stake in Kolkata-based Ellenbarrie Industrial Gases Ltd for around Rs 100 crore, or 1.8 billion yen.
The listed Indian company has a capacity of 235 tonnes per day (tpd) at its three plants for liquefied oxygen, nitrogen and argon gases. It also has a packaging, refilling and acetylene plant, a fleet of 80 tankers and a steel trading business.
Masato Machida, Corporate Director of Air Water and a Director of Eellenbarrie, said after the acquisition, the management of the Indian company would remain unchanged. Air Water will have three directors on the board, while original promoters, the Agarwala family that will hold a 23.9 per cent stake, will also have three board berths.
India plans
The Indian industrial gas space is dominated by multinationals such as Linde, Praxair, Air Product and Air Liquid. Machida told Business Line that apart from growth in industrial gas capacities in merchant plants, Ellenbarrie would look for opportunity in oxygen-related medical equipment, including piping and operation theatre gadgets.
He added the company’s steel trading would continue to get support from the new promoter. The future growth mode for the Rs 80-crore Ellenbarrie would also include captive plant for automobile clusters in Chennai and Gurgaon.
Ellenbarrie is setting up a 150-tpd air separation unit in Hyderabad at a cost of Rs 60 crore. The plant would be ready by April 2014. At present, the company operates one unit (135 tpd) in Vizag and another at Uluberia (100 tpd) near here.
Padam Agarwala, who would continue as the Managing Director in the new dispensation, said the company would firm up its growth plans in the next few quarters.
The listed Indian company has a capacity of 235 tonnes per day (tpd) at its three plants for liquefied oxygen, nitrogen and argon gases. It also has a packaging, refilling and acetylene plant, a fleet of 80 tankers and a steel trading business.
Masato Machida, Corporate Director of Air Water and a Director of Eellenbarrie, said after the acquisition, the management of the Indian company would remain unchanged. Air Water will have three directors on the board, while original promoters, the Agarwala family that will hold a 23.9 per cent stake, will also have three board berths.
India plans
The Indian industrial gas space is dominated by multinationals such as Linde, Praxair, Air Product and Air Liquid. Machida told Business Line that apart from growth in industrial gas capacities in merchant plants, Ellenbarrie would look for opportunity in oxygen-related medical equipment, including piping and operation theatre gadgets.
He added the company’s steel trading would continue to get support from the new promoter. The future growth mode for the Rs 80-crore Ellenbarrie would also include captive plant for automobile clusters in Chennai and Gurgaon.
Ellenbarrie is setting up a 150-tpd air separation unit in Hyderabad at a cost of Rs 60 crore. The plant would be ready by April 2014. At present, the company operates one unit (135 tpd) in Vizag and another at Uluberia (100 tpd) near here.
Padam Agarwala, who would continue as the Managing Director in the new dispensation, said the company would firm up its growth plans in the next few quarters.
RBI to relax investment limit of NBFCs in insurers
As per present norms, restriction of a group limit of the NBFC should not exceed 50% of the equity of the insurance JV company
Mumbai: The Reserve Bank of India (RBI) said on Thursday it would consider relaxation of the 50 per cent group limit for non-banking financial companies (NBFCs) investing in insurance companies, on a case-to-case basis.
According to the present norms, in case more than one company (irrespective of doing financial activity or not) in the same group of the NBFC wishes to acquire stake in the insurance company, the contribution by all companies in the same group should not exceed 50 per cent equity investment in the insurance joint venture (JV) company.
RBI said that in the operation of of the insurance company, very often, Irda required an insurance company to expand its capital, taking into account the stipulations of the Insurance Act and the solvency requirements of the insurance company.
“The restriction of a group limit of the NBFC to 50 per cent of the equity of the insurance JV company prescribed in the above mentioned circular may act as a constraint for the insurance company in meeting the requirement of Irda,” said RBI in the notification.
Insurance company executives said that as currently companies do not fall in this category, this mandate might give relief to them in the future. “There could be a new partner entering and exiting the insurance space. The relaxation will be beneficial to the future players,” said an insurance official.
On a review, RBI said it has been decided that in cases where Irda issues calls for capital infusion into the insurance JV company, the bank may, on a case-to-case basis, consider need-based relaxation of the 50 per cent group limit specified in the earlier circular. The relaxation, if permitted, will be subject to compliance by the NBFC with all regulatory conditions specified in earlier circulars.
NBFCs who want to apply for such relaxation have to apply to the regional office of RBI under whose jurisdiction its registered office is situated, along with supporting documents.
Mumbai: The Reserve Bank of India (RBI) said on Thursday it would consider relaxation of the 50 per cent group limit for non-banking financial companies (NBFCs) investing in insurance companies, on a case-to-case basis.
According to the present norms, in case more than one company (irrespective of doing financial activity or not) in the same group of the NBFC wishes to acquire stake in the insurance company, the contribution by all companies in the same group should not exceed 50 per cent equity investment in the insurance joint venture (JV) company.
RBI said that in the operation of of the insurance company, very often, Irda required an insurance company to expand its capital, taking into account the stipulations of the Insurance Act and the solvency requirements of the insurance company.
“The restriction of a group limit of the NBFC to 50 per cent of the equity of the insurance JV company prescribed in the above mentioned circular may act as a constraint for the insurance company in meeting the requirement of Irda,” said RBI in the notification.
Insurance company executives said that as currently companies do not fall in this category, this mandate might give relief to them in the future. “There could be a new partner entering and exiting the insurance space. The relaxation will be beneficial to the future players,” said an insurance official.
On a review, RBI said it has been decided that in cases where Irda issues calls for capital infusion into the insurance JV company, the bank may, on a case-to-case basis, consider need-based relaxation of the 50 per cent group limit specified in the earlier circular. The relaxation, if permitted, will be subject to compliance by the NBFC with all regulatory conditions specified in earlier circulars.
NBFCs who want to apply for such relaxation have to apply to the regional office of RBI under whose jurisdiction its registered office is situated, along with supporting documents.
Sunday, December 1, 2013
Adani Ports signs MoU with Belgian Port of Zeebrugge
Mumbai: Adani Ports & SEZ Ltd (APSEZ), India's largest private port developer, signed a memorandum of understanding (MoU) with the Belgian Port of Zeebrugge on Wednesday, to get access to European markets.
"The MoU over a period of time will help in an enhanced movement of traffic to and from APSEZ into Europe and beyond," Adani Ports said in a statement.
Adani Ports will explore joint business opportunities between the two ports along with other forms of trade, shipping, railway infrastructure across India and Europe, the statement added.
Karan Adani, Executive Director, said Adani Ports was keen to jointly explore marketing initiatives and strategies to promote Indo-European trade relations across both the ports via shipping lines.
"The MoU over a period of time will help in an enhanced movement of traffic to and from APSEZ into Europe and beyond," Adani Ports said in a statement.
Adani Ports will explore joint business opportunities between the two ports along with other forms of trade, shipping, railway infrastructure across India and Europe, the statement added.
Karan Adani, Executive Director, said Adani Ports was keen to jointly explore marketing initiatives and strategies to promote Indo-European trade relations across both the ports via shipping lines.
Hero Group to open university
New Delhi: The Hero Group on Wednesday announced the launch of BML Munjal University, a fully residential university, spread across 5 lakh sq ft on the Delhi-Jaipur Highway near Manesar.
“The university will be operational next year with the first session starting in July 2014,” said Chairman Hero Corporate Services Sunil Kant Munjal.
The university plans to focus on all disciplines except medicine. Akshay Munjal, Executive Director, BML Educorp Services, said: “The first year would open with three disciplines: MBA, BBA and B. Tech.” Alongside the academic departments, the Group plans to set up a research institute, the founding partner for which will be the Imperial College London. It will also mentor the business school being set up in the university.
“The university will be operational next year with the first session starting in July 2014,” said Chairman Hero Corporate Services Sunil Kant Munjal.
The university plans to focus on all disciplines except medicine. Akshay Munjal, Executive Director, BML Educorp Services, said: “The first year would open with three disciplines: MBA, BBA and B. Tech.” Alongside the academic departments, the Group plans to set up a research institute, the founding partner for which will be the Imperial College London. It will also mentor the business school being set up in the university.
Cadbury’s largest plant in Asia-Pacific to come up in AP
Hyderabad: Cadbury India on Wednesday signed a memorandum of understanding with the Andhra Pradesh Government that will see it set up its largest manufacturing plant in the Asia-Pacific region.
The proposed plant, which is to come up on a 134-acre site in SriCity, Chittoor, with an initial investment of Rs 1,000 crore, will be functional by mid-2015.
Part of the $35-billion Mondelez International Inc, Cadbury India plans to develop the project in four phases by 2020, eventually increasing its annual production capacity to 250,000 tonnes.
Manu Anand, President-India & South Asia, said the plant will be able to serve the southern region and possibly other markets as it gets implemented in phases.
India is rated among the top 10 markets in the company’s global business. The MoU was signed by Anand and K. Pradeep Chandra, Andhra Pradesh’s Industries Principal Secretary, in the presence of Chief Minister N. Kiran Kumar Reddy and others.
“The plant will employ about 1,600 people when fully developed and account for nearly 50 per cent of Cadbury’s overall capacity (it currently has six plants). Cadbury manufactures products under five broad categories: chocolates, powder beverages, gum, candy and biscuits,” said Anand.
Typically, some of the suppliers, too, set up plants where Cadbury locates its facilities, he added.
The Chief Minister said Chittoor being the home of dairy companies has capacity to supply Cadbury about 500,000 litres of milk per day, initially, and possibly 100,000 litres per day by phase two of the project. And the demand of about 200 tonnes of sugar per day could boost the prospects of sugar mills.
He said that in the three years since he took over as the Chief Minister, he had cleared proposals worth Rs 1.35 lakh crore, covering 75 factories, making AP a favoured destination for investments.
The proposed plant, which is to come up on a 134-acre site in SriCity, Chittoor, with an initial investment of Rs 1,000 crore, will be functional by mid-2015.
Part of the $35-billion Mondelez International Inc, Cadbury India plans to develop the project in four phases by 2020, eventually increasing its annual production capacity to 250,000 tonnes.
Manu Anand, President-India & South Asia, said the plant will be able to serve the southern region and possibly other markets as it gets implemented in phases.
India is rated among the top 10 markets in the company’s global business. The MoU was signed by Anand and K. Pradeep Chandra, Andhra Pradesh’s Industries Principal Secretary, in the presence of Chief Minister N. Kiran Kumar Reddy and others.
“The plant will employ about 1,600 people when fully developed and account for nearly 50 per cent of Cadbury’s overall capacity (it currently has six plants). Cadbury manufactures products under five broad categories: chocolates, powder beverages, gum, candy and biscuits,” said Anand.
Typically, some of the suppliers, too, set up plants where Cadbury locates its facilities, he added.
The Chief Minister said Chittoor being the home of dairy companies has capacity to supply Cadbury about 500,000 litres of milk per day, initially, and possibly 100,000 litres per day by phase two of the project. And the demand of about 200 tonnes of sugar per day could boost the prospects of sugar mills.
He said that in the three years since he took over as the Chief Minister, he had cleared proposals worth Rs 1.35 lakh crore, covering 75 factories, making AP a favoured destination for investments.
MHRD to provide for 5000 faculty positions in higher education
New Delhi: The Ministry of Human Resource Development proposes to provide for 5000 faculty positions in the higher education under the Rashtriya Uchchatar Shiksha Abhiyan (RUSA) during the current Five Year Plan, ending 2017. Support will be provided to fill positions in the category of Assistant Professors or equivalent cadre against vacancies. A fixed amount of Rs. 5.8 lakh per year for each faculty position will be given by the Centre and any excess over and above this amount due to higher scales, grade pay or DA increase has to be borne by the State Government. The 99,000 crore rupee programme was approved by the Union Cabinet last month to boost the Gross Enrolment Ratio (GER) to 30% by 2020 from the present about 19%.
All the State universities will be eligible to receive grants under this programme. The recruitment process will have to adhere to UGC norms and regulations. The funding priorities are as follows:
Commitments of States to take over the liability of faculty positions at the end of the scheme (after 5-8 years, depending on the year in which such positions are sanctioned).
Priority will be given to those states where more recruitment has taken place in the universities and colleges during the last 3 years.
Lowest number of unfilled faculty positions.
Better student-teacher ratio.
Priority will be given to new institutions.
Second priority shall be given to those states which have a faculty-student ratio between 15:1 to 20:1.
States with more than 20:1 ratio will have to first commit to sanction and fill positions to bring down the faculty-student ratio ration to 20:1.
All the State universities will be eligible to receive grants under this programme. The recruitment process will have to adhere to UGC norms and regulations. The funding priorities are as follows:
Commitments of States to take over the liability of faculty positions at the end of the scheme (after 5-8 years, depending on the year in which such positions are sanctioned).
Priority will be given to those states where more recruitment has taken place in the universities and colleges during the last 3 years.
Lowest number of unfilled faculty positions.
Better student-teacher ratio.
Priority will be given to new institutions.
Second priority shall be given to those states which have a faculty-student ratio between 15:1 to 20:1.
States with more than 20:1 ratio will have to first commit to sanction and fill positions to bring down the faculty-student ratio ration to 20:1.
MHRD to provide for 5000 faculty positions in higher education
New Delhi: The Ministry of Human Resource Development proposes to provide for 5000 faculty positions in the higher education under the Rashtriya Uchchatar Shiksha Abhiyan (RUSA) during the current Five Year Plan, ending 2017. Support will be provided to fill positions in the category of Assistant Professors or equivalent cadre against vacancies. A fixed amount of Rs. 5.8 lakh per year for each faculty position will be given by the Centre and any excess over and above this amount due to higher scales, grade pay or DA increase has to be borne by the State Government. The 99,000 crore rupee programme was approved by the Union Cabinet last month to boost the Gross Enrolment Ratio (GER) to 30% by 2020 from the present about 19%.
All the State universities will be eligible to receive grants under this programme. The recruitment process will have to adhere to UGC norms and regulations. The funding priorities are as follows:
Commitments of States to take over the liability of faculty positions at the end of the scheme (after 5-8 years, depending on the year in which such positions are sanctioned).
Priority will be given to those states where more recruitment has taken place in the universities and colleges during the last 3 years.
Lowest number of unfilled faculty positions.
Better student-teacher ratio.
Priority will be given to new institutions.
Second priority shall be given to those states which have a faculty-student ratio between 15:1 to 20:1.
States with more than 20:1 ratio will have to first commit to sanction and fill positions to bring down the faculty-student ratio ration to 20:1.
All the State universities will be eligible to receive grants under this programme. The recruitment process will have to adhere to UGC norms and regulations. The funding priorities are as follows:
Commitments of States to take over the liability of faculty positions at the end of the scheme (after 5-8 years, depending on the year in which such positions are sanctioned).
Priority will be given to those states where more recruitment has taken place in the universities and colleges during the last 3 years.
Lowest number of unfilled faculty positions.
Better student-teacher ratio.
Priority will be given to new institutions.
Second priority shall be given to those states which have a faculty-student ratio between 15:1 to 20:1.
States with more than 20:1 ratio will have to first commit to sanction and fill positions to bring down the faculty-student ratio ration to 20:1.
India, Belgium agree to enhance cooperation in renewable energy
New Delhi: India and Belgium have agreed to work on signing an MOU to enhance cooperation in renewable energy. This was discussed at a bilateral meeting between Dr. Farooq Abdullah, Minister for New and Renewable Energy, Government of India and Her Royal Highness Princess Astrid of Belgium. Princess Astrid is currently visiting India as head of the Belgian Economic Mission to India. She is accompanied by Mr. Didier Reynders, Deputy Prime Minister and Minister for Foreign Affairs, Foreign Trade and European Affairs and Mr. Kris Peeters, President of the Region of Flanders and Flemish Minister for Economic, Foreign Policy along with a large business delegation.
Dr. Abdullah briefed the visiting delegation on the energy situation in India and the rapid growth of the renewable energy sector in India. He spoke of India’s plans to add over 30 GW of renewable energy to its energy mix in the next 5 years. He dwelt on the success of the wind programme as well as the significant cost reductions in solar energy through the Jawahar Lal Nehru National Solar Mission (JNNSM). He also highlighted India’s conducive and investor friendly policy framework for promoting renewable energy in a big way. Dr. Abdullah suggested that India and Belgium had great potential for enhancing cooperation in promoting renewable energy and offered to provide all possible assistance for the purpose.
The Belgian delegation recognized India’s considerable achievements and strengths in renewable energy and noted that India had made large strides in this field. The business delegation accompanying the official delegation also made brief presentations on their activities and reciprocated India’s desire for enhanced energy cooperation between the two countries.
After detailed discussions, the two sides agreed to start work on a Memorandum of Understanding (MoU) in the field of Renewable Energy between the Ministry of New and Renewable Energy of the Government of India and the Government of Belgium in order to strengthen, promote and develop renewable energy cooperation between the two countries on the basis of equality and mutual benefit. Both countries also agreed to explore possibilities of coordination in renewable energy through joint Research and Development programmes of mutual interest.
Dr. Abdullah briefed the visiting delegation on the energy situation in India and the rapid growth of the renewable energy sector in India. He spoke of India’s plans to add over 30 GW of renewable energy to its energy mix in the next 5 years. He dwelt on the success of the wind programme as well as the significant cost reductions in solar energy through the Jawahar Lal Nehru National Solar Mission (JNNSM). He also highlighted India’s conducive and investor friendly policy framework for promoting renewable energy in a big way. Dr. Abdullah suggested that India and Belgium had great potential for enhancing cooperation in promoting renewable energy and offered to provide all possible assistance for the purpose.
The Belgian delegation recognized India’s considerable achievements and strengths in renewable energy and noted that India had made large strides in this field. The business delegation accompanying the official delegation also made brief presentations on their activities and reciprocated India’s desire for enhanced energy cooperation between the two countries.
After detailed discussions, the two sides agreed to start work on a Memorandum of Understanding (MoU) in the field of Renewable Energy between the Ministry of New and Renewable Energy of the Government of India and the Government of Belgium in order to strengthen, promote and develop renewable energy cooperation between the two countries on the basis of equality and mutual benefit. Both countries also agreed to explore possibilities of coordination in renewable energy through joint Research and Development programmes of mutual interest.
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