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Lupin settles litigation with Forest Labs for Alzheimer drug
Drug firm Lupin today said it has settled all litigations relating to memantine tablets, the generic version of US-based Forest Laboratories" Alzheimer drug "Namenda".

Sunil Jain: Tax Advantage
Most know private sector firms are a lot more efficient than public sector ones, but a little bit of perspective is required here. According to data from the latest budget documents, public sector firms, on average, pay around a fifth more effective tax rates in comparison to their private sector counterparts. So, while public sector companies paid an effective tax rate of 25.69 per cent in 2007-08, the figure was a lower 21.28 per cent for private sector firms. The average of 22.24 per cent for all firms, of course, was much lower than the statutory 33.99 per cent. The reason for this is the tax benefits claimed, obviously more by the private sector, particularly for export profits under the Software Technology Parks of India (STPI) scheme (Rs 11,734 crore) and accelerated depreciation (Rs 14,344 crore of taxes were foregone on this account).

News of the day

Eicher Motors gains on strong Q1 performance
The stock extended gains and surged to a new 52-week high of Rs 360 - up 6.5%. It finally ended at Rs 355, up 4.7%. The counter clocked comparatively heavy volumes of 15,401 shares as against its two-week daily average trade of 3,486.
Public Company

DRS Logistics in Rs 450-cr warehousing expansion

City-based logistics solutions provider DRS Logistics Private Limited is embarking on a Rs 450-crore expansion that envisages construction of warehousing facilities in south India by the end of the next financial year. - Dubai default swaps show no distress on bailout bets - Reliance Brands ties up with Timberland - UK"s Admiral plans 10 stores in "10, eyes Rs 200 cr sales - Experts raise growth predictions for India - 1% of NSE and 6% of MCX on the block - Hindalco to raise Rs 2,900 crore in QIP “We have started scouting for a private equity player to infuse funds and expect to close the deal in 90 days from now. The expansion will see the creation of a 2-million sft warehousing space at Hyderabad in Andhra Pradesh, Hosur in Karnataka and Sriperembudur in Tamil Nadu,” AK Agarwal, director (business) of the Rs 500-crore DRS Group, told mediapersons here on Monday. DRS proposes to float a special purpose vehicle (SPV) – DRS Warehousing South Private Limited – in which the prospective PE investor will hold 50 per cent while DRS will invest the rest by way of land. The company has already acquired 72 acre, of the required 100 acre for the expansion. The company currently operates 1.5 million sft of warehousing space in cities like Gurgaon, Khajuri, Palwal and Ambala in north India through an SPV called DRS Warehousing North Private Limited in which investment banker Merrill Lynch has a 55 per cent holding. In north, DRS currently provides third-party logistic (3PL) services to Reliance Retail, HPCL, Dabur, Lifestyle and Max. “The proposed warehousing facilities in south India will primarily cater to the retail industry offering both rental and 3PL services,” Agarwal said, adding that the company would expand its warehousing business to cities like Jaipur and Chandigarh, with an addition of 1 million sft, in the next two years with an investment of Rs 250 crore. With a fleet of 850 trucks now, DRS is looking at adding 200-250 trucks each year starting March 2010. The company clocked revenues of Rs 269 crore last year. It foresees an uptick of 20-25 per cent this year. On the company’s plans to start air cargo and rail cargo services during this year, Agarwal said “they would put these plans on hold until the market recovers.”


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