Laurus Labs receives USFDA approval TLD FDC
Laurus Labs has received tentative approval from the United States Food and Drug Administration (USFDA) under PEPF AR for Tenofovir, Lamivudine, Dolutegravir (TLD) 300/300/50mg fixed-dose combination (FDC). Despite the news, the company�s shares declined marginally on Monday.
The company also received an Establishment Inspection Report (EIR) from the USFDA for its Unit 6 on February 2, the company said in a press note to the exchanges on Sunday.
L&T�s arm bags orders from Odisha Government
Larsen & Toubro (L&T) in its filing to the exchanges on Monday informed that its arm L&T Construction has secured projects from the Rural Water Supply and Sanitation Department, Government of Odisha.
The Engineering, Procurement, and Construction orders have been secured for the execution of Individual rural water supply projects in the Keonjhar and Mayurbhanj districts of Odisha, the company added.
Titan jumps 5% on brokerage upgrades after strong Q3 performance
Shares of Titan Company were trading up 5% owing to upgrades by brokerage houses following the company's stellar Q3 results.
Global brokerage houses Credit Suisse and CLSA have both upgraded their rating on Titan. Credit Suisse revised its neutral rating on the watch and jewelry-maker to outperform, increasing its price target to Rs1, 175 from Rs935 per share following a rise in its earnings estimates by 3-10%.
Further, CLSA retained its outperform rating on the stock and increased its price target to Rs1,100 from Rs1,035 per share after raising earnings estimates by 2-6%.
Supreme Court dismisses Rain Industries� application for enhancing CPC import limit
Rain Industries (Rain), in its filing on BSE dated February 04, 2019, stated that the Honorable Supreme Court of India has dismissed its application for enhancing CPC�s (calcined pet coke) existing import limit.
Rain Industries had filed applications to the Supreme Court for seeking following approvals:
Increasing the allocation limit of importing GPC (green pet coke) to Rain as it is the only calciner in India to have Flue Gas Desulphurization;
Permitting Rain to import CPC in order to export an equivalent quality of CPC by which the net import of CPC into India will remain within the limit fixed by the Supreme Court;
The existing GPC import limit of 1.4mn tonnes is excluding the requirement of additional 0.7mn tonnes of GPC required for the Rain�s current expansions under construction at Andhra Pradesh Special Economic Zone (APSEZ).
Zee Promoters get 8-month breather from MFs and NBFCs
Zee Entertainment Enterprises, Subhash Chandra led company, in a statement to the exchanges, informed that the Essel Group had secured a formal consent with lenders having a pledge of company's shares held by promoters. As per the consent, the lenders have agreed that there will not be any event of default declared till September 30, 2019
The approval has been given due to the movement in the stock price of Essel Group's mentioned listed corporate entities, the company said in a statement on Sunday.
Tech Mahindra to acquire Dynacommerce Holding
The investment committee of Tech Mahindra board of directors has approved the proposal to acquire 100% equity shares of Dynacommerce Holding B,V.
The purpose of this acquisition will be to enhance its capabilities in the customer experience space.The cost of the acquisition would be 4.39mn Euros, subject to certain pre-closing and post-closing adjustments. In addition, a contingent payment of 1.148mn Euros would be paid over a period of 5 years to settle the debts of Dynacommerce Holdings.
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