IOC looks at stake acquisitions in Africa

Indian Oil Corporation (IOC), the country''s largest crude oil refiner and marketer of petroleum products, is in negotiations with various African countries for acquiring stake in discovered oil and gas blocks. They are in negotiations with Nigeria and some other African countries for exploration and production blocks. The company has also decided to increase its crude oil imports from Nigeria from 2 million tonnes per annum to 3 million tonnes. Global oil companies such as Brazil''s Petrobras, Italian ENI and Norway-based NorskHydro have previously followed the same route to buy stake in oil blocks operated by Oil and Natural Gas Corporation (ONGC) in India. IOC is keen on purchasing stake in refineries in Africa. It will, however, buy stake only if the refinery is bundled with an oil or gas block. Separately, IOC has offered to infuse in a gas-based petrochemicals plant and for setting up a liquefied natural gas facility in Mozambique. IOC has also agreed to help increase the liquefied petroleum gas storage capacity in Mauritius. IOC already retails petrol and diesel in Mauritius through its fully owned subsidiary Indian Oil (Mauritius).

Sun Pharmaceutical - Caraco Pharmaceuticals Laboratories (Company''s US subsidiary) announces FDA app

Sun Pharmaceutical Industries Ltd has informed about the Press Release of Caraco Pharmaceutical Laboratories Ltd, i.e. Companys U. S. subsidiary company dated September 26, 2007, as follows :

Caraco Pharmaceutical Laboratories, Ltd, (Amex: CPD) on September 26, 2007 has announced that the US Food and Drug Administration (FDA) has granted final approval for the Companys Abbreviated New Drug Application (ANDA) for Methimazole Tablets USP, 5 mg and 10 mg (Methimazole).

Methimazole is indicated in the medical treatment of hyperthyroidism. Caracos Methimazole is therapeutically equivalent to the FDA reference listed drug (RLD) listed in the Orange Book, Methimazole Tablets USP, 5 mg and 10 mg, respectively. According to IMS Data, for the twelve months ended June 2007, Methimazole had annual sales of approximately $21 million.

Daniel H. Movens, Caracos Chief Executive Officer, said, We are pleased to receive this approval from the FDA. This marks the third approval in the last 30 days and the sixth approval this quarter. This is in addition to the two tentative approvals granted by the FDA during the period. One of the main drivers of our growth is to continue to expand and strengthen our product portfolio. This will bring our total product selection to 41different products represented by 86 various strengths.

Detroit-based Caraco Pharmaceutical Laboratories Ltd, develops, manufactures, markets and distributes generic and private-label pharmaceuticals to the nations largest wholesalers, distributors, drugstore chains and managed care providers.

Stock in News: Moving Picture Company India Ltd.

Chartered Capital and Investment Ltd, (Manager to the Offer) on behalf of M/s. Consolidated Securities Ltd (Acquirer) has issued this Public Announcement to the shareholders of Moving Picture Company India Ltd (Target Company), pursuant to and in compliance with, among others, Regulation 10 of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 1997, as amended from time to time (the Regulations) issued by the Securities and Exchange Board of India SEBI.

The Offer

The Acquirer proposes to acquire upto 30,37,690 fully / partly paid-up equity shares (Shares) of the Target Company (the Offer Size) representing 20% of the fully expanded voting equity capital of the Target Company (including the entire preferential allotment of share as well as warrants) at a price of Rs 10.05 for each fully paid-up equity share of the Target Company and Re 1 for each partly paid-up equity share of the Target Company (such price, the Offer Price), to be paid in cash, subject to the terms & conditions mentioned in PA.

Schedule of Activities

Specified Date: August 17, 2007

Date of Opening of the Offer: September 12, 2007

Date of Closing of the Offer: October 01, 2007