TOP CORPORATE NEWS - 11 JAN 2016

·Cadila’s Baddi Plant successfully obtains EIR from USFDA

Cadila Healthcare’s Baddi Plant successfully obtains the Establishment Inspection Report (EIR) from the USFDA – Long term positive as it could help pave new way for product approvals from this site.

·Aurobindo receives USFDA approval for Norethindrone Acetate Tablets

Aurobindo Pharma receives USFDA approval for Norethindrone Acetate Tablets – Positive Aurobindo Pharma announces that it has received final approval from the US Food & Drug Administration ( USFDA) to manufacture and market Norethindrone Acetate Tablets. Norethindrone Acetate Tablet is used in the treatment of endometriosis, uterine bleeding caused by abnormal hormone levels, and secondary amenorrhea. This is the 57th ANDA to be approved out of Unit VII formulation facility in Hyderabad, India for manufacturing Oral Non-Antibiotic products. Aurobindo now has a total of 230 ANDA approvals (199 Final approvals including 10 from Aurolife Pharma LLC and 31 Tentative approvals) from USFDA.

·Tata Motors gains on strong JLR global retail volumes

Shares of auto major gained over 2% to Rs361 on NSE in an otherwise volatile markets as the Jaguar Land Rover December 2015 global retail volumes were up by 19.7% YoY to 49,553 units; Strong growth in developed economies. Jaguar volumes were up 20.4% YoY to 8,382 units.  The growth was largely attributable to the new XE which retailed 3,952 units. Land Rover volumes for the month were up by 19.6% YoY at 41,171 units. The newly launched Discovery Sport retailed 10,048 units which aided growth. The developed economies performed well for JLR with UK retails growing 31.9%, North America volumes higher by 29.7% and an impressive 50.2% growth in rest of Europe. However, China sales for the month were weak and down 10.3% YoY at 10,403 units. Rest of the world sales were up 15.9% to 9,675 units..

·L&T to get major share in Rs5,000-crore Russian deal

As per media reports, Larsen and Toubro is set to get a major share in a Rs5,000-crore deal to upgrade and refit Russian-origin Kilo class submarines. Kilo class refit is a program to increase the life of the submarine by 10 years involving complex engineering. – Positive for L&T

·Maruti to launch Vitara Brezza in February; stock up

Maruti’s upcoming compact SUV to be named as Vitara Brezza; to be launched in February Maruti Suzuki’s upcoming compact SUV has been named as Vitara Brezza. The vehicle will be positioned as an urban SUV and will be launched in February 2016 at the Auto Expo. Positive for the company. The stock opened at Rs4190 on NSE and is currently trading at Rs4251, up by 1% in an otherwise weak markets.

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