TOP CORPORATE NEWS - 18 FEB 2016

Britannia to invest Rs900 crore on new Greenfield plants

Britannia will invest Rs900 crore in setting up fresh manufacturing and research and development facilities over the next two years.

Besides new plants in Tamil Nadu and Karnataka, the Bengaluru-based firm plans to set up new manufacturing units in Guwahati, Andhra Pradesh and Maharashtra.

For exports, it is looking to set up a site in Gujarat. Additional lines will be added in existing plants too.

Sun Pharma gets USFDA nod for Nitrofurantion Oral Capsules

Sun Pharmaceuticals Industries announced that company gets USFDA nod for Nitrofurantion Oral Capsules, Nitrofurantoin is an antibiotic used to treat urinary tract infections.

Dr.Reddy's board approves buyback of shares; stk gains

Dr.Reddy's Laboratories surged over 6%, touching to Rs3151.85 crore, after drug maker announced that board of company has approved the proposal for buyback of its equity shares.

The board of directors at its meeting held on February 17, 2016, has approved a proposal to buyback equity shares of the company, subject to approval by the shareholders, for an aggregate amount not exceeding Rs1569.40 crore.

Coal India to set up 800 MW of solar power generation

Coal India will shortly call a tender for setting up 800 MW of solar power generation capacity at an estimated investment of about Rs4,800 crore.

Coal India plans to generate 1,000 MW of solar power to reduce its carbon footprint.

CIL has also signed up an MOU with Energy Efficiency Services which will implement energy efficiency projects at buildings, mines and other establishments of Coal India.

ABG Shipyard jumps on stake sale reports

ABG Shipyard gained over 19% to Rs54.2, on media reports of divestment of majority stake by the company.

According to reports, the company is at an advanced stage of negotiations with interested parties for a strategic investment into the company, which will see the management divesting its majority control.

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