Laurus Labs receives 2 USFDA approvals
Shares of Laurus Labs gained 4% on Monday after the company received approval for Hydroxychloroquine Tablets 200 mg and ADL (Abacavir, Dolutegravir, and Lamivudine) Tablets.
Accordingly, the company received final approval from United States Food and Drug Administration (USFDA) for Hydroxychloroquine Tablets 200 mg and received a tentative approval for an ANDA for ADL (Abacavir, Dolutegravir, and Lamivudine) Tablets 600 mg/50 mg/300 mg, the company said in a press note to the exchanges on Monday.
Jet Airways gains 3% on report of securing fresh credit from PNB
Shares of Jet Airways were trading up 3% on Monday after a Mint report stated that the debt ridden airline company is all set to receive loan of Rs2,050cr from Punjab National Bank (PNB).
As per the report, the loan has been raised in two lots through separate agreements with the bank. Under one agreement, Jet Airways received a credit facility of Rs1,050cr, including a term loan in dollar worth Rs350cr (at a notional rate of Rs67/$) and a non-fund based facility of Rs700cr. The second agreement, a credit facility of Rs1,000cr, includes a term loan of Rs750cr and a non-fund based facility of Rs250cr.
SBI gains 2% on reports of liking deposit, loan interest to repo rates
Shares of State Bank of India (SBI) gained 2% on Monday after media reports showed that the bank has announced liking of deposit and loan interest rates to external benchmark from May 01, 2019.
The development implies that whenever the Reserve Bank of India (RBI) announces a change in the repo rate, it will automatically reset SBI's interest rates, media report stated.
Accordingly, savings account with deposit balances above Rs1 lakh will attract the effective interest rate of 2.75% below repo rate, which is currently at 6.25%. With this, effective interest rate in savings account works out to be 3.5%, which is unchanged at present.
Unichem Lab�s Ghaziabad facility inspected by USFDA
Shares of Unichem Lab were trading 3% higher on Monday as United States Food and Drug Administration (USFDA) concluded inspection of the company�s Ghaziabad facility without any FDA form 483 issued.
The inspection was conducted by USFDA from March 5 to 8, the company said in a press note to the exchanges on Monday.
Dilip Buildcon surges 7% after emerging as L-1 bidder for road project
Shares of Dilip Buildcon spurted 7% on Monday after the company emerged as the lowest bidder for road project of National Highway Authority of India.
The work includes 4 Laning of Saoner-Dhapewada-Kameshwar-Gondkhairi, NH-54 E, from 4.70km to 33.575km in Maharashtra on EPC mode, the company said in a press note after markets hours to the exchanges on Friday.
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