Lupin gets tentative approval for HIV drug Prezista
Lupin has got USFDA’s tentative approval to market generic versions of Janssen Products’(Janssen) HIV drug- Prezista. The drug generates an annual sales of US$1.2bn in US. The drug is protected by patent up to May 09, 2017.However, Lupin along with other players like Mylan and Teva have challenged the patent in court after filing ANDA through Para-IV route. The development is sentimentally positive for the company.
HUL sells it’s headquarter in south Mumbai to HDFC
Hindustan Unilever sold it’s headquarter in south Mumbai to HDFC for Rs300crore (two stage transaction was sign between the two party in 2012); in-line with company’s plans to hive off non-core assets for operational benefits – neutral for the stock
Bosch suspends manufacturing operations at Nashik plant
Bosch announced that with a view to adjust production to meet the demand for products and to avoid unnecessary buildup of inventory, it is proposed to suspend the manufacturing operations at the Company's Nashik plant on December 31, 2014.
Atul Auto gains on bulk deals
Shares of Atul Auto gained nearly 8%, touching to Rs684.5, after Goldman Sachs bought a total of 4.05 lakh shares of the company in bulk deals on BSE yesterday, (December 30, 2014).
Goldman Sachs Asset Mgmt A/C Goldman Sachs Emerging Mkt Eq Fund bought 1.54 lakh shares of Atul Auto at Rs 616.40 per share yesterday, December 30, 2014. Goldman Sachs India Fund bought 2.5 lakh shares of the company at Rs616.40 per share
JSW Holdings gains after seeking shareholders' nod
JSW Holdings dipped over 5%, touching to Rs998.65, after the company sought shareholders' nod for financial transactions worth Rs 2500 crore with various entities, including group firm JSW Steel.
JSW Holdings sought shareholders' nod for making investments in the securities of other corporates bodies, give loans, guarantees and provide securities for any loan facility to be availed by the other companies not exceeding Rs2500 crore.
Centre earmarks Rs3199.45 crore for power transmission
The Centre has earmarked Rs3199.45 crore for Arunachal Pradesh and Sikkim to undertake a comprehensive project for strengthening of power transmission and distribution systems to create reliable state power grid and its connectivity to the upcoming load centres. Positive for power transmission & distribution EPC and equipment suppliers
BHEL forms consortium with MIdhani and HSL
In line with the government’s ‘Make in India’ initiative, three companies - Bharat Heavy Electricals Limited (BHEL), Mishra Dhatu Nigam Limited (Midhani) and Hindustan Shipyards Limited ( HSL) have come together to form a consortium for building submarines indigenously.BHEL has been a reliable supplier of strategic equipment and services to Indian Defence and Paramilitary forces in the past and HSL is a defence PSU engaged in ship building, repairs and submarine retrofit while Midhani is engaged in development and manufacture of a wide range of super alloys and special-purpose steel for applications in defence, aerospace and atomic energy.
SpiceJet declines after extending flight cancellations
SpiceJet fell nearly 6%, touching to Rs16.75, after the company extended its flight cancellations till 31 January 2015, affecting at least 329 flights.
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