TOP CORPORATE NEWS - 29 DEC 2015

HDFC Bank cuts base rate by 0.05%, effective January 4

HDFC Bank today slashed it base rate by 5 basis points to bring it down to 9.30 percent from the 9.35 percent earlier effective January 4, 2016. The bank has earlier cut rates in August by 0.35 percent.

SREI jumps 19%, BNP Paribas to pick up 5% stake in com

Shares of Srei Infrastructure Finance (SREI) rallied nearly 19 percent intraday Tuesday to hit a 52-week high of Rs 61.40 as BNP Paribas Lease Group (BPLG) will acquire 5 percent stake in the company.

Citigroup raises stake in L&T Finance to 7.56%

Citigroup raises stake in L&T Finance to 7.56% from 5.74% for about Rs208 crore

L&T Finance opened at Rs65.95 marking days low at Rs65.75 and hit an intraday high of Rs66.40 on NSE so far.

Lupin receives approval for FyavolvTM Tablets

Pharma Major, Lupin has said that it has received final approval for its FyavolvTM Tablets (Norethindrone Acetate and Ethinyl Estradiol Tablets USP, 0.5 mg/0.0025 mg and 1 mg/0.005 mg) from the United States Food and Drug Administration (USFDA) to market a generic version of Warner Chilcott's Femhrt® Tablets (Norethindrone Acetate and Ethinyl Estradiol Tablets USP, 0.5 mg/0.0025 mg and 1 mg/0.005 mg).

RBI sets rupee reference rate at 66.3700 against dollar

The Reserve Bank of India today fixed the reference rate of the rupee at 66.3700 against the US dollar and 72.8477 for the euro.

These rates were 66.1380 and 72.5534, respectively, yesterday.

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