TOP CORPORATE NEWS - 22 APR 2016

Aurobindo Pharma gets USFDA nod for gNexium

Aurobindo gets approval from the USFDA to manufacture and market gNexium, used to treat gastric ulcers. The launch of the product will be based on settlement terms/litigation outcome with Astrazeneca.

This is the 70th ANDA (including 15 tentative approvals) to be approved from Unit 7 formulation facility.

HDFC Bank Q4 profit in line with estimates

HDFC Bank has announced the following audited results for the quarter & year ended March 31, 2016:

Standalone

For the Quarter ended March 31, 2016

Net Profit rose by 20.21% to Rs3374.22 crore Vs Rs2806.91 crore (YoY).

Total Income increased by 21.14% to Rs18862.61 crore Vs Rs15570.13 crore (YoY).

Dewan Housing rises on talks to buy Andromeda

Shares of Dewan Housing rose 2% to Rs208 on NSE in an otherwise weak market on reports that the company is in talks to buy Andromeda for up to Rs250 crore – Positive as enhanced distribution network would support loan growth.

Dewan Housing Finance Ltd is in talks to acquire Andromeda Sales and Distribution Pvt. Ltd, one of the largest distributors of loans, mortgage, financing and financial instruments in India.

Maruti Suzuki’s Baleno receives 3-star rating in NCAP test

Leading Auto giant, Maruti Suzuki’s premium hatchback Baleno has received a 3-star rating out of 5-star in a crash test with standard equipment by automobile safety agency Euro NCAP (New Car Assessment Programme).

The Japanese-Indian auto-maker’s global model Baleno is manufactured only in India. The model received a four star rating in Safety pack.

Emami's FY16 results on May 05, 2016

Emami Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on May 05, 2016, inter alia, to consider Audited Annual Accounts of the Company for the Financial Year ended March 31, 2016 and to consider, if thought fit, to recommend the Dividend for the Financial Year 2015-16.

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