CAPITALSTARS
TOP CORPORATE NEWS
M&M targeting to double
market share in commercial vehicle space
M&M targeting
to double market share in the commercial vehicle space; to invest Rs500cr in
product development. Mahindra & Mahindra is targeting to double its market
share in the commercial vehicle (CV) segment. The company currently has 2.5%
market share and targets 5-6% share in the next 2-3 years. The company will be
investing Rs 500 crore for product development and will focus on the 5-16 tonne
segment to expand its presence.
Inox Wind commissions 220kV
sub-station, transmission line
Inox Wind has
commissioned the 220kV sub-station and transmission line at its Rojmal site in
Gujarat. The sub-station is part of common infrastructure facility at the site
and is capable of supporting power evacuation of 400 MW.
Punj Lloyd rises on winning
contract from IOC
Punj Lloyd
announced winning an engineering, procurement, construction and commissioning
(EPCC) contract at Paradip Refinery in Odisha from Indian Oil Corporation (
IOCL) for a value of Rs367 crore.
The scope of work
for the project involves the Residual Basic Engineering including HAZOP study,
detailed engineering, procurement, construction and commissioning of the Coker
LPG Treating Unit and offsite and utility facility.
Alstom T&D bags orders
worth Rs140.3 crore from Odisha
Alstom T&D
India has bagged orders worth Rs140.3 crore from Odisha Power Transmission
Corporation for supply of air insulated and gas insulated substations. –
Positive for Alstom T&D India.
McNally Bharat JV SPV wins
contract worth Rs 2048 cr
McNally Bharat
Engineering Company announced that the Company in its recently formed 50 : 50
SPV with EMC Group in Muscat, Sultanate of Oman, received a contract for
Construction, detailed engineering, construction supervision, mechanical
commissioning and supply for a value of US$ 315 million (Rs. 2048 crore
approximately) from Sohar Bitumen LLC in Oman for their Bitumen Refinery in
Sohar, Muscat, Sultanate of Oman.
L&T plans to list five
operational road assets through InvIT
Larsen and Toubro
Ltd (L&T) plans to list five operational road assets through an
infrastructure investment trust (InvIT), a new structure cleared by the capital
market regulator to ease access to funds for infrastructure developers. Out of
the total 17 operational projects under L&T IDPL, it could launch 5
projects under this process by April 2016 as per media reports. The report
suggest that L&T expects to raise more than Rs2,000 crore through this
process.
Pharma majors get USFDA
approval for Memantine Hydrochloride
Aurobindo Pharma,
Torrent Pharma, Alembic Pharma, Unichem Labs & Jubilant life science get
USFDA approval for Memantine Hydrochloride, generic for Namenda – Positive for
all companies as it could add Rs 50-75 crore of sales for each player depending
on the market share they can garner. ( Sun Pharma, Dr Reddy’s, Mylan, Teva,
Lupin, Amneal & Wockhardt are players already present in the market).
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