Parsvnath Developers, Merck likely to see some action today

Parsvnath Developers said it has launched Parsvnath City in Saharanpur.

Pharmaceutical major Merck is planning to come up with 13 innovator drugs in the coming 24-36 months in India. The company, which has eight products in India, aspires to garner about 4% market share and emerge as one of the top five companies in the Indian domestic retail market by 2015. The company said that most of the products that it intends to launch would be in the cardiovascular segment and vaccines.

Media Matrix Worldwide has formed a joint venture (JV) with Irish pub company FZC, UAE. The JV has been formed with a view to launch a chain of pubs across India and the Indian subcontinent. Both companies are targeting 50 tier one pubs in first phase, followed by 100 tier two pubs and 300 tier three pubs (based on franchisee model) in a duration of two to five years.

Polaris Software Lab, a leading technology provider to the banking, financial services and insurance (BFSI) segments, is optimistic about growth potential in Europe. Polaris is considering setting up a centre in Sweden to cater to the needs of potential customers in these regions.

Tata Motors’ UK subsidiary – Tata Motors European Technical Centre – has received a 10 million (Rs 78 crore) loan from the UK government. The loan is under the government’s Automotive Assistance Programme (AAP) and will be utilised to develop and manufacture the Tata Indica Vista Electric Vehicle in the country. This apart, the Indian major is set to launch the cheapest model from the Land Rover stable in the country next week. Freelander 2 – priced at around Rs 35 lakh (excluding local taxes) – will be launched on September 22 in Mumbai.

Private sector lender Axis Bank has successfully mobilized $720 million through its Qualified Institutional Placement (QIP) cum Global Depository Receipt (GDR) issue on Friday.

Mumbai-based Cinemax India, part of Kanakia Group, is all set to launch its new four-screen multiplex, at Cinemax-R Mall Odeon situated near Vallabh Baug Lane, Ghatkopar, Mumbai.