Tokyo - Shares of Toyota Motor Corporation fell sharply Wednesday after a report that Japan's leading carmaker will cut its earning forecast by 40 per cent owing to shrinking demand triggered by the global financial crisis.

Citing informed sources, the Japanese business daily Nikkei reported that Toyota has to adjust its profit forecast downwards by 40 per cent for the current business year, ending March 31.

The Oil & Natural Gas Corporation (ONGC) celebrated its golden jubilee for its very first breakthrough in the field of oil 50 years back in Lunej, Cambay Basin off the Gulf of Cambay, Gujarat. Alongside the event another proposed plan of the firm was disclosed as the company readies itself for exploration in Uranium.

Strides Arcolab, one of the leading Indian pharmaceutical company, has informed that the U.S. Food and Drug Administration (USFDA) had approved its oral dosage manufacturing unit in Bangalore.

Following this approval, Strides will be able to export drugs with regulatory approval to the United States.

Recently, the company has secured two abbreviated new drug application (ANDA) approvals for Dexamethasone injection in the strength of 4mg/ml and Dexamethasone Sodium Phosphate injection, in the strength of 10 mg /ml.

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India’s leading material handling equipments maker Elecon Engineering Company Ltd, has secured three orders worth Rs 51.74 crore from different clients. 

The scope of work involves design, engineering, manufacturing, testing, supplying, erecting and commissioning of material handling and other equipments. 
 
The company has picked first contract worth Rs 15.50 crore from Techpro Systems, Chennai. Under the arrangement it will supply one stacker, one bucket wheel reclaimer and one lot drives for SAIL-RMD-BOLANI Iron Ore mines project.