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Thursday, February 28, 2008

Corporate Announcements

Listing of equity shares of Gujarat Glass Ltd
Trading Members of the Exchange are hereby informed that effective from February 28, 2008, the equity shares of Gujarat Glass Ltd (Scrip Code: 532949) are listed and admitted to dealings on the Exchange in the list of 'B1' Group Securities.

Listing of equity shares of Manjushree Extrusions Ltd
Trading Members of the Exchange are hereby informed that effective from February 28, 2008, the equity shares of Manjushree Extrusions Ltd (Scrip Code: 532950) are listed and admitted to dealings on the Exchange in the list of 'B1' Group Securities.

Sun Pharma gets USFDA approval to market generic Demadex® Tablets
Sun Pharmaceutical Industries Ltd has announced that USFDA has granted final approval for the Company's Abbreviated New Drug Application (ANDA) to market its generic version of Hoffman la Roche's Demadex®, torsemide tablets.These generic torsemide tablets are therapeutic equivalents of hoffman La Roche's Demadex® Tablets and include four strengths: 5 mg, 10 mg, 20 mg and 100 mg. These strengths of torsemide tablets have annual sales of approximately USD 35 million in the US.Torsemide is a diuretic, indicated for the treatment of edema associated with congestive heart failure, renal disease, or hepatic disease. Use of torsemide has been found to be effective for the treatment of edema associated with chronic renal failure. Torsemide is also indicated for the treatment of hypertension alone or in combination with other antihypertensive agents.The Company expects to reach the market shortly with these products.

NTPC - Updates
National Thermal Power Corporation Ltd (NTPC) has informed BSE that the Company has signed a loan Agreement of Euro 68.56 million with the Nordic Investment Bank (NIB) on February 15, 2008, a multilateral financial institution owned by the Nordic and Baltic countries, to part finance the capital expenditure of its projects. The loan has a maturity of 12 years including availability period of 3 years. The loan carries a floating rate of interest linked to EURIBOR and is without sovereign guarantee. This is the first loan that NTPC has tied up with NIB.

Bharat Forge to raise Rs 300 Crores through a Preferential offer to the Promoters
Bharat Forge Ltd has informed BSE that the Board of Directors of the Company at its meeting held on February 27, 2008 approved a Preferential Issue of Convertible Warrants subject to requisite approval by the Shareholders and the applicable guidelines to the Promoters Group.Pricing of the issue will be governed by the Guidelines for Preferential Issue in terms of the applicable SEBI Guidelines.The Company will raise Rs 300 crores through the issue of these convertible warrants. The proceeds will form a part of the corpus that will serve a two-fold purpose of funding the Company's ongoing organic growth programme in the capital goods and non auto space as well as enhancing the Promoters stake in the Company.

Bharat Forge Ltd has informed BSE that the Board of Directors of the Company at its meeting held on February 27, 2008, subject to the required approvals being obtained, including approval of the Members of the Company and subject to applicable guidelines, has approved the following:1. Issue of convertible warrants, to Promoters Group of an aggregate value of Rs 300 crores; and2. Borrowing by way of External Commercial Borrowing / Rupee Term Loan of upto Rs 400 Crores.

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