Coal India hopes to raise 2014-15 output to 494 million tones
Coal India hopes to raise 2014-15 output to 494 million tonnes, a 7% growth YoY and in 2015-16 it is targeting a 550 million tonnes of production, around 11% growth YoY – Positive read through for Coal India
HCC wins arbitration award of Rs217 crore
HCC won arbitration award of Rs217 crore, order book stands at 18000 crore – Positive for HCC. During market hours, HCC announced that the company has won arbitration award of Rs217.18 crore for extension of time (EOT) cost claim in Lucknow-Muzaffarpur National Highway Project after 20 months of hearing.
RBI lifts lending curbs on United Bank of India
RBI lifts lending curbs on United Bank of India – positive. The Reserve Bank of India ( RBI) has lifted lending restrictions put on United Bank of India and said the bank is free to lend, provided its capital adequacy does not fall below 9.5% under Basel-III and the credit–deposit ratio (CD ratio) should not exceed 70%.
United Bank of India gains as RBI eases lending restrictions
Shares of United Bank of India surged nearly 9% touching to Rs29.35, after the Reserve Bank of India ( RBI) has relaxed the prompt corrective action restrictions imposed on the bank on sanction of advances, participation in restructuring proposals.
Glenmark Pharma gets SC clearance to sell diabetes drugs
Glenmark Pharma gets SC clearance for selling diabetes drugs in India; positive. The Supreme Court of India has stayed a Delhi high court order restraining generic drug maker Glenmark Pharma from manufacturing sitagliptin, an anti-diabetes drug. While Merck and Indian generic drug manufacturer Sun Pharmaceutical Industries Ltd. Merck’s licensee for making sitagliptin in India, resisted the stay of the high court order, the apex court allowed the Glenmark Pharma to continue selling these drugs n India. The total market size of the drugs is pegged at Rs300 crore.
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