TOP CORPORATE NEWS-30 JUN 2015

 

·LIC Housing Finance plans to mart Orbit Corp property

LIC Housing Finance will auction a property belonging to property developer Orbit Corporation for default of loans. LIC Housing Finance has kept a reserve price of Rs125 crore for the 9,083 square metre or over 90,000 sq ft property.

·Rajesh Exports gains ahead of board meet

Shares of Rajesh Exports rose 5% to Rs325, also its record high on the BSE, ahead of board meeting on Thursday to consider overseas acquisition plan. In past three weeks, the stock zoomed 43% from Rs228 after the company said it had bagged an export order worth Rs1,302 crore from a UAE-based company for gold and diamond-studded jewellery.

·Bharti Airtel is now 3rd largest mobile operator in world

Bharti Airtel Ltd has informed regarding a Press Release dated June 30, 2015, titled 'Airtel is now the third largest mobile operator in the world'.

·Coal India gains as Morgan Stanley raises target price

Shares of Coal India rose nearly 3% touching to Rs419.75, after Morgan Stanley raised share price target to Rs530 from Rs449. Global brokerage major Morgan Stanley maintained ' outperform' rating on the stock with a target price of Rs530 per share. This indicates a potential upside of 30% over Monday's closing price.

·Nestle allow to continue exports of Maggi noodle

Nestle India announced that the Hon'ble Bombay High Court has allowed the Company to continue the export of MAGGI noodles.

·Suven Life secures 3 Product Patents

Suven Life Sciences Ltd has informed regarding a Press Release dated June 30, 2015, titled 'Suven Life secures Three (3) Product Patents in Israel, Japan and South Africa

·M&M to invest Rs6,500 at Chakan over the next seven years

Mahindra & Mahindra (M&M) will invest about Rs 6,500 crore at its Chakan facility in Maharashtra. The Chakan facility is under a 100% subsidiary i.e Mahindra Vehicle Manufacturers Ltd (MVML) and manufactures utility vehicles and pick-ups for M&M. The management had earlier guided for a capex of Rs3500 over the next three years at Chakan.

·Lupin looking to enter new product segments, geographies

According to  management ,meaningful acquisitions are going to be vital to their growth strategy. The company's investments in novel drug discovery and development and bio similars are starting to pay off with targets progressing through various stages of clinical trials in Europe and Japan. In the next two years, it will make meaningful progress and have multiple filings in each of these areas.

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