Honda Cars India has increased vehicle prices in the range of Rs15,000 to Rs60,000 following the expiry of the concessional excise duty benefit
The move is on expected lines and other makers including Maruti Suzuki to announce price increases in the coming days.
·Essel Propack boosts mfg capacity in Egypt, China
Essel Propack Ltd has expanded manufacturing capabilities in Egypt and China to cater to FMCG and cosmetic brands in West Asian, African and Chinese markets. It will cater to the needs of non-oral care category. The plant is strategically located in the hub of multinational and domestic cosmetic brands.
·Government to infuse capital in PSU Banks by FY15 end
The government has assured PSU Bank’s of capital support before the end of this fiscal. MoS for Finance Mr Jayant Sinha has also said that government is not willing to reduce stake at current valuations.
The capital infusion from government will be positive for PSU Banks (esp for banks like BOI, Union, Allahabad bank etc which have low Tier I CAR)
·NMDC to keep prices of iron ore unchanged for January
NMDC decided to keep prices of its iron ore unchanged for the January month at Rs4,200 per tonne for lumps and Rs3,060 per tonne for fines, which had cut prices by 3 -5% in line with falling global prices.
During 9MFY15, the company maintained 10% growth in its output. Sentimentally positive.
·Jubilant gets USFDA nod for Mycophenolate Mofetil
Jubilant Life Sciences gets USFDA nod for Mycophenolate Mofetil (market size US$250mn) & Rizatriptan (market size US$70mn); positive.Jubilant Life Science has got USFDA approvals for two of its ANDA, namely Mycophenolate Mofetil and Rizatriptan Tablets. Mycophenolate Mofetil USP, 250 mg Capsules and 500 mg Tablets is the generic version of Cellcept (of Roche), an immunosuppressant which is used to help prevent organ rejection in transplants.
·Government to raise pharma mfg standards to global level
The government is introducing the Drugs and Cosmetics (Amendment) Bill to amend the existing Act to consolidate provisions for clinical trials and regulate medical devices. The initiatives include revision of good manufacturing practices (GMPs) for drugs as well as medical devices under the Drugs and Cosmetics Rules, 1945, to update the requirements to make them at par with the international requirements.
·Sugar output increases by 27.3% to 7.5 million tones
Sugar output during the period of October-December 2014 increased by 27.3% to 7.5 million tonnes; the domestic sugar prices continues to fall (currently stands below the cost of production), which is cause of concern for the companies – Falling sugar prices is negative for sugar companies.
·Maruti Suzuki invites quotations from vendors for YCA
Maruti Suzuki has invited quotations from vendors for the car project code named YCA which will be the first product to roll out from the upcoming Gujarat facility. As per media report, the company has indicated a timeline of mid 2017 for the first roll-out from the facility. The company is yet to get the minority shareholder approval for the Gujarat facility but has started construction work in order to adhere to the timeline. Positive for Maruti.
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