TOP CORPORATE NEWS
·
RBI instructs
banks to restructure loans of farmers
RBI
has instructed banks to restructure loans of farmers whose crops have been
damaged by the recent unseasonal rains and hailstorms. This will increase the
proportion of restructured loans in P{SU Banks books and will lead to higher
provisioning.
·
Aurobindo
receives USFDA nod for Atracurium Besylate Injections
Aurobindo
Pharma announced that the company has received final approvals from the US Food
& Drug Administration ( USFDA) to manufacture and market Atracurium
Besylate Injection, 10mg/mL, 5mL single-dose vials (ANDA 206010) and 10mg/mL,
10mL multi-dose vials (ANDA 206011).
·
Cadila plans to
raise Rs3500 Cr Via NCD Issue
Cadila
Healthcare is seeking shareholders' approvals for the issuance of the Equity
Shares including Convertible Bonds/Debenture through Qualified Institutional
Placement (QIP) and/or Depository Receipts or any other modes for an amount not
exceeding Rs10,000 Crores and Unsecured/Secured Redeemable Non-Convertible
Debentures/Bonds by way of Private Placement for an amount not exceeding Rs3500
Crores, subject to the overall borrowing limits of Rs10,000 Crores. Although,
this is an enabling provisions and there may not be an immediate fund raising.
·
Sesa Sterlite,
NMDC down on poor iron ore prices
Sesa
Sterlite, NMDC slipped today, after Chinese iron ore futures fell amid
persistent signs that tepid demand in China and growing supplies from top
miners. Industry outlook remain subdued because of global demand, as per
reports.
·
Rane Engine sells
part of its land in Chennai
Rane
Engine Valve has sold one of its land parcels in Chennai for Rs 27.75 crore.
The land was located at Alandur in Chennai. The company said the move was part
of its consolidation efforts after shifting of its Alandur plant operations to
other plants.
·
Government
launches scheme to promote hybrid, electric vehicles
The
government has launched the FAME India scheme under which incentives will be
offered on electric and Hybrid vehicles. Under the scheme incentives ranging
between Rs1,800 to Rs29,000 for two wheelers and between Rs3,300 to Rs1.38 lakh
for cars can be availed.
·
Cipla's UK
subsidiary to acquire a limited liability Company in Brazil
Cipla
announced that Cipla (EU), U.K., a wholly owned subsidiary of the Company, has
entered into a definitive agreement for acquisition of 100% stake in Duomed
Produtos Farmaceuticos Ltda. ('Duomed'), a limited liability Company in Brazil
for a cash consideration of Brazilian Real (R$) 1,293,600 (approx. Rs2.6
crore). Duomed was incorporated on June 10, 2013.
·
ONGC oil
production slightly up first time after 7 years
ONGC
oil production is slightly up first time after 7 years on efforts of Oil
Ministry- sentimentally positive .ONGC produced 22.263 million tons (MT) of
crude oil during April 2014 to March 31, 2015, up from 22.247 MT in the
previous fiscal. For 2015-16, ONGC is targeting a total of 26 MT of oil
production - 22.732 MT from its own fields and another 3.268 MT from joint
venture fields like Barmer block in Rajasthan.
·
Skipper secures
export order worth Rs400 cr
Skipper
received an export order of Rs400 crore from Colombian market for supply of
transmission towers. Very positive for the company as the company was having
total export orders of around Rs500 earlier in the total order book of around
Rs2200 crore. Thus it would add substantial visibility in future revenue. We
remain positive of the stock.
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