TOP CORPORATE NEWS
·
Center to invest
Rs10000 crore in power sector
As
per media reports, the centre will invest Rs10,000 crore in the power sector of
the eight North Eastern states, including Sikkim. The Centre has already
approved a scheme for strengthening the transmission and distribution system in
Arunachal Pradesh and Sikkim.There was also plan to restart the Teesta Hydro
Electric Project in Sikkim with an investment of Rs13,000 crore.
·
IDFC to start
banking operations from 1st October 2015
IDFC
to start banking operations from 1st October 2015. Each shareholder in IDFC to
get 1 share of IDFC Bank- positive.
·
Glenmark Generics
gets ANDA approval
Glenmark
Pharmaceuticals announced that Glenmark Generics Inc., USA (Glenmark) has been
granted final approval by the United States Food & Drug Administration ( US
FDA) for the oral contraceptive Levonorgestrel and Ethinyl Estradiol Tablets
USP, 0.09 mg/0.02 mg, the therapeutic equivalent of Lybrel® of Wyeth
Pharmaceuticals, Inc. (which is no longer being marketed in the United States).
·
Max India gets
CCI approval for demerger
Competition
Commission has approved Max India's proposed corporate restructuring plan to
vertically split the company through a demerger into three separate listed
firms, including one for life
insurance.
·
IndusInd Bank to
buy RBS's India jewellery financing business
IndusInd
Bank said it would buy Royal Bank of Scotland's diamond and jewellery financing
business in India and the related deposit portfolio. RBS's India diamond and
jewellery financing loan book is about Rs45 billion ($721.7 million) in size,
IndusInd said. It did not give a value for the deal.
·
Aurobindo Pharma
gets USFDA approval for anesthesia drug
Aurobindo
Pharma has received final approval from the US Food and Drug Administration
(USFDA) to manufacture and market Atracurium Besylate injection in single and
multi-dose vials.
The
market size of the drug is not immediately known, injectible being a niche
segment, the company may gain significantly from this product.
·
Coal India likely
to be permitted to sell coal through e-auction
As
per media reports, coal India is likely to be permitted to sell an increased
amount of its coal through e-auction, which is having better margin.
The
report suggests that Coal India will be allowed to sell up to 10% of coal
through e-auction, against 7% in last year. Positive read through.
·
NFL restarts
production in Panipat Unit
National
Fertilizers Ltd (NFL) announced that it has resumed production at its Panipat
Plant w.e.f. April 06, 2015. The plant was under annual turnaround w.e.f. March
04, 2015.
·
Coal India likely
to be permitted to sell coal through e-auction
As
per media reports, coal India is likely to be permitted to sell an increased
amount of its coal through e-auction, which is having better margin.
The
report suggests that Coal India will be allowed to sell up to 10% of coal
through e-auction, against 7% in last year. Positive read through.
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