U.S. court refuses Ranbaxy’s appeal:-
U.S. court refuses Ranbaxy appeal to block ANDA nod for 2 drugs, negative Drug firm Ranbaxy Laboratories today said the DC Federal Court in the U.S. has not granted the company temporary restraining order to block the U.S. health regulator from approving other ANDAs for generic versions of digestive disorder medicine Nexium and anti-viral Valcyte. The Court has not granted temporary restraining order to block FDA approval for other Abbreviated New Drug Applications (ANDAs) for generic version of Nexium and Valganciclovir, Ranbaxy Laboratories had sued USFDA over revoking an approval to sell generic versions of Nexium and Valcyte in the US market.
U.S. court refuses Ranbaxy appeal to block ANDA nod for 2 drugs, negative Drug firm Ranbaxy Laboratories today said the DC Federal Court in the U.S. has not granted the company temporary restraining order to block the U.S. health regulator from approving other ANDAs for generic versions of digestive disorder medicine Nexium and anti-viral Valcyte. The Court has not granted temporary restraining order to block FDA approval for other Abbreviated New Drug Applications (ANDAs) for generic version of Nexium and Valganciclovir, Ranbaxy Laboratories had sued USFDA over revoking an approval to sell generic versions of Nexium and Valcyte in the US market.
Dr Reddy's gets USFDA observations for API plant:-
Dr Reddy's gets USFDA observations for its API plant in Srikakulam; sentimentally negative Reddy's Laboratories has received inspectional observations from the US Food and Drug Administration (FDA) for one of its active pharmaceutical ingredients (APIs) manufacturing plants located in Srikakulam district of Andhra Pradesh. The observations came after a team of the US FDA visited the site recently. According to the company, these observations are largely related to procedural and other compliances of the plant systems and would not impact the normal activity of the plant in any way.
Dr Reddy's gets USFDA observations for its API plant in Srikakulam; sentimentally negative Reddy's Laboratories has received inspectional observations from the US Food and Drug Administration (FDA) for one of its active pharmaceutical ingredients (APIs) manufacturing plants located in Srikakulam district of Andhra Pradesh. The observations came after a team of the US FDA visited the site recently. According to the company, these observations are largely related to procedural and other compliances of the plant systems and would not impact the normal activity of the plant in any way.
Bajaj Auto raises retail prices in Nigeria by 4-5%:-
Bajaj Auto has raised retail prices for motorcycles and three wheelers in Nigeria by 4-5%. The price increase is in response to the country’s decision to devalue its currency by 8.4% and is on expected lines. We continue to maintain a Hold recommendation on the stock with a target price of Rs2,625.
Bajaj Auto has raised retail prices for motorcycles and three wheelers in Nigeria by 4-5%. The price increase is in response to the country’s decision to devalue its currency by 8.4% and is on expected lines. We continue to maintain a Hold recommendation on the stock with a target price of Rs2,625.
MRF gains 2% post Q4FY14 results:-
shares of MRF gain 2% to Rs33675 on NSE in otherwise weak markets post Q4FY14 results MRF revenues for the quarter were up 6.8% YoY to Rs3,361 crore. The growth in top line was in-line with peers. The company had an impressive margin performance in Q4FY14 largely benefitting from lower rubber prices. EBITDA margins for the quarter expanded by 420bps on the YoY basis to 18.1%. This is the highest ever quarterly operating margin for the company.Net profit for MRF grew by an impressive 72% YoY to Rs317 crore.
shares of MRF gain 2% to Rs33675 on NSE in otherwise weak markets post Q4FY14 results MRF revenues for the quarter were up 6.8% YoY to Rs3,361 crore. The growth in top line was in-line with peers. The company had an impressive margin performance in Q4FY14 largely benefitting from lower rubber prices. EBITDA margins for the quarter expanded by 420bps on the YoY basis to 18.1%. This is the highest ever quarterly operating margin for the company.Net profit for MRF grew by an impressive 72% YoY to Rs317 crore.
JP Associates falls 2% after ED registers case:-
ED finds prima facie case of money laundering under PMLA (Prevention of Money Laundering Act) against JP Associates and registers a case against the company to be probed under PMLA.ED claims that the company has been over producing cement at its HP cement plant. The development is negative for JP Associates.
ED finds prima facie case of money laundering under PMLA (Prevention of Money Laundering Act) against JP Associates and registers a case against the company to be probed under PMLA.ED claims that the company has been over producing cement at its HP cement plant. The development is negative for JP Associates.
Alstom T&D gets Rs56 cr contract by Ceyclon Electricity:-
Alstom T & D India announced that it has been awarded a Rs 56 crore contract by Ceylon Electricity Board to monitor and control Sri Lanka's electricity transmission network. Alstom will supply it world leading energy management system, e-terraplatform, to enable reliable, secure and efficient operations of Sri Lanka's hydro thermal electricity system.
Alstom T & D India announced that it has been awarded a Rs 56 crore contract by Ceylon Electricity Board to monitor and control Sri Lanka's electricity transmission network. Alstom will supply it world leading energy management system, e-terraplatform, to enable reliable, secure and efficient operations of Sri Lanka's hydro thermal electricity system.
DLF deposits Rs100 crore with Supreme Court as penalty:-
DLF Thursday deposited Rs100 crore with the Supreme Court registry - a part of Rs630 crore penalty imposed on it by the Competition Commission of India ( CCI) for alleged one-sided contracts for flat buyers in Gurgaon. Senior counsel Harish Salve, while seeking adjournment of the hearing till Friday, told the apex court bench headed by Justice Anil R. Dave that to establish their bonafide, they are depositing Rs100 crore with the apex court registry. Salve produced before the court a cheque of Rs100 crore. With this, DLF has deposited Rs150 crore with court registry, Rs50 crore was deposited by the real estate giant earlier.
DLF Thursday deposited Rs100 crore with the Supreme Court registry - a part of Rs630 crore penalty imposed on it by the Competition Commission of India ( CCI) for alleged one-sided contracts for flat buyers in Gurgaon. Senior counsel Harish Salve, while seeking adjournment of the hearing till Friday, told the apex court bench headed by Justice Anil R. Dave that to establish their bonafide, they are depositing Rs100 crore with the apex court registry. Salve produced before the court a cheque of Rs100 crore. With this, DLF has deposited Rs150 crore with court registry, Rs50 crore was deposited by the real estate giant earlier.
Bharti Airtel launches 4G service in Africa:-
The company said the network is expected to cover 10,000 LTE subscribers in the first phase. Bharti Airtel launches 4G service under the first commercial LTE network in Seychelles, Africa The company said the network is expected to cover 10,000 LTE subscribers in the first phase. We already have Africa's widest 3G footprint, being present in 17 countries. We are delighted to now provide leadership in setting the technology standard for 4G services in Africa by rolling out this cutting edge LTE network," Airtel Africa CEO Christian de Faria reportedly said.
India Cements slips after SC order:-
The stock so far has tumbled over 5 per cent from the day's high India Cements has erased all its earlier gains and fell sharply in the noon deals after the Supreme Court, hearing the IPL spot fixing case, said Chennai Super Kings must be disqualified 'without further enquiry'. The Supreme Court also asked its managing director and suspended BCCI chief N Srinivasan to furnish details of the company's shareholding pattern and the composition of its Board members. Soon, the stock has tumbled 5.7 per cent from day's high to touch a low at Rs. 92.65. Now, the stock is down 1.7 per cent at Rs. 93.65.
The stock so far has tumbled over 5 per cent from the day's high India Cements has erased all its earlier gains and fell sharply in the noon deals after the Supreme Court, hearing the IPL spot fixing case, said Chennai Super Kings must be disqualified 'without further enquiry'. The Supreme Court also asked its managing director and suspended BCCI chief N Srinivasan to furnish details of the company's shareholding pattern and the composition of its Board members. Soon, the stock has tumbled 5.7 per cent from day's high to touch a low at Rs. 92.65. Now, the stock is down 1.7 per cent at Rs. 93.65.
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