Suven Life to present new
results and data presentations
Suven Life
Sciences announced that several exciting new results and data presentations
from Suven's portfolio of investigational neuroscience new chemical entities (
NCEs) are being presented at Alzheimer's Association International Conference
(AAIC) being held in Washington DC, USA during 18-23 July 2015.
Cabinet approves Rs8,548
crore power transmission project
It will cover
Andhra Pradesh, Gujarat, Maharashtra, Himachal Pradesh, Karnataka, Madhya
Pradesh and Rajasthan at an estimated cost of Rs8,548.68 crore.The project will
have central contribution from National Clean Energy Fund (NCEF) of Rs3,419.47
crore (which is 40 per cent of the total estimated cost of project). Positive
for EPC players like L&T, KPTL KEC and Equipment providers like Crompton
Greaves among others. The
project will have central contribution from National Clean Energy Fund (NCEF)
of Rs3,419.47 crore (which is 40 per cent of the total estimated cost of
project).
Crompton Greaves to provide
smart grid infrastructure for SEC; stock up
Shares of Crompton Greaves rose 2% to Rs196 on the NSE after the company
announced that it has signed a new contract to provide ZIV protections for Saudi
Electricity Company, the largest power utility company in the Middle East.The
stock opened at Rs194.15 and touched a high of Rs197.50 on NSE. Crompton
Greaves will provide smart grid infrastructure for Saudi Electricity company (
SEC). Cumulative orders from SEC stand at $8 million.
RIL starts selling diesel to
railways
As per media
flash, Reliance Industries has started selling diesel to railways, also co's
oil product exports flowing more to Asian markets (positive read-thru)
Lupin gets USFDA approval for
diabetes drug Prandimet
Lupin
gets USFDA approval for diabetes drug Prandimet, positive read-thru.
Haryana raises VAT on Diesel
The Haryana
government has raised VAT on diesel from 12.07 per cent to 16.4 per cent.
Weak rains force RBI to
reverse farm loan norms
Weak rains force
RBI to reverse farm loan norms— negative read thru for private banks .Given
the rising concern over a weak monsoon’s impact on the agricultural
sector, the RBI has gone back to the policy of a direct agricultural lending
target for banks. The RBI has now asked lenders to beef up credit directly to
the farmers and has said that overall direct lending to farmers should not fall
below the average of last three years.
Ashoka Buildcon receives Rs90
crore arbitral award
Ashoka Buildcon
has announced that Ashoka Infrastructure Limited, a wholly owned subsidiary
which executed Pune-Shirur Road Project has received an Arbitral Award
aggregating Rs89.81 Crore, against various claims filed by SPV. This amount
will further receive an interest from July 06, 2015 till the date of payment.
Currently we have a positive view on the stock.
Sun Pharma gains after CLSA
raises target price
Shares of Sun
Pharmaceuticals Industries rose nearly 2%, touching to Rs957, after CLSA raises
target price to Rs1,160 from Rs1,130, maintains 'high conviction buy'
The brokerage
reportedly said that issues at its unit Ranbaxy's Mohali plant less severe than
those at other plants undergoing remedial action. Adds resumption of operations
at Mohali plant in the medium term could de-risk operations at Halol and Ohm
Labs, and may provide an upside to the $250 mln synergies' estimate...
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