TOP CORPORATE NEWS - 09 OCT 2015

·Aurobindo Pharma receives USFDA approval for Aripiprazole Tablets

Aurobindo Pharma Limited has received the final approval from the US Food & Drug Administration ( USFDA) to manufacture and market Aripiprazole Tablets, 2mg, 5mg, 10mg, 15mg, 20mg and 30mg. The product is ready for launch. Aripiprazole Tablets are indicated in the treatment symptoms of psychotic conditions such as schizophrenia and bipolar disorder (manic depression).

·Patanjali ties up with Future group for distribution

Patanjali products ties up with Future group for distribution of its products- Aims to reach Rs1000 crore turnover in 20 months through distribution- Positive for Future group ( Future Retail + Future Consumer Enterprises).

                                                                                                                                                                                                                                                        

·Apollo Hospitals to raise Rs1,000 crore for expansion

Apollo Hospitals to raise Rs1,000 crore for expansion; set to open 150 clinics by 2015-end (already set up 38 clinics) – positive read through for the stock.

                                                                                                                                                                                                                                                        

·Redington surges as arm gets iPhone distributorship

Redington rose nearly 6%, touching to Rs123.8, after the company said its subsidiary has been appointed as a distributor for Apple iPhones in the UAE with immediate effect. Redington (India) announced that Redington Gulf FZE, a step-down subsidiary of the company, has been appointed by US-based Apple Inc as a distributor for iPhones in the UAE with immediate effect.

· Torrent Pharma board approves amalgamation of Zyg Pharma

Torrent Pharma board approves amalgamation of Zyg Pharma – Positive for long term. The Board of Directors of Torrent Pharmaceuticals has approved the scheme of amalgamation of Zyg Pharma Pvt Ltd a wholly owned subsidiary of the company with Torrent Pharmaceuticals. The amalgamation is yet subject to regulatory approvals.

                                                                                                                                                                                                                                                    

· Fortis gains after SRL Diagnostic plans Rs1,250 crore share sale

Shares of Fortis Healthcare gained 3% to Rs173 on NSE after the Fortis-owned SRL Diagnostic planned Rs1,250-crore share sale to help some existing investors monetized its minority holding; SRL has scrapped its IPO plans in near future – sentimentally negative for Fortis Healthcare as listing of SRL Diagnostic was one of the triggers for the stock.  

                                                                                                                                                                              

·Lords Ishwar receives Liquor Licence from Gujarat

Lords Ishwar Hotels Ltd has informed that the Company has received the Liquor Licence from Superintendent of Prohibition & Excise Department, Vadodara to sell foreign liquor at its premises to the permit holders under the provisions of the Gujarat Prohibition Act, 1949.

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