CORPORATE NEWS : 20 Feb 2017

corporate
M&M plans to launch petrol variants of XUV5oo and Scorpio
M&M plans to launch petrol variants of XUV5oo and Scorpio amid consumer shift from the diesel variants; positive
Mahindra & Mahindra plans to launch a petrol variant of its flagship Sports Utility Vehicle XUV500 in Q1FY18 in the wake of customer preference shifting away from diesel vehicles in the segment.
The company is also mulling launching a petrol variant of its popular Scorpio model depending on the demand for the same in XUV500. Launching petrol variants will enable the company to tap the demand and help it regain market share in utility vehicle space.

GSK Pharma gets USFDA nod for Mepolizumab Injectable
GSK Pharma gets USFDA nod for Mepolizumab Injectable; used to treat Eosinophilic Asthma [increased levels of eosinophils (a type of white blood cell) in the airways] – Positive for GSK Pharma.

IRB InvIT Fund gets Sebi’s approval to launch IPO
IRB InvIT Fund gets Sebi’s approval to launch IPO, positive read-thru
IRB InvIT Fund, an investment trust sponsored by IRB Infrastructure Developers, has received markets regulator Sebi’s approval to raise Rs4,300 crore through initial public offering ( IPO).
However, Securities and Exchange Board of India ( Sebi) has asked for clarification from India Grid Trust and Reliance Infra InvIT Fund regarding their proposed IPOs.
IRB InvIT Fund had filed its draft papers in September 2016 and got ‘observation’ from Sebi on February 9, which is necessary for any entity to launch public offer.

TCS board to consider buyback of shares
Tata Consultancy Services (TCS) rose by 2% touching to Rs2452.4, as board to consider buyback of equity shares.
Tata Consultancy Services (TCS) has announced that the Board of Directors will consider a proposal for buyback of equity shares of the Company at its meeting to be held on February 20, 2017.

Dilip Buildcon get LOA for Rs911 cr project from NHAI
Leading infra company, Dilip Buildcon has announced that it has received a letter of award issued by National Highways Authority of India (Ministry of Road Transport & Highways, Government of India) for the Project of Four Laning of Tuljapur-Ausa (Including Tuljapur Bypass) Section of NH-361 from Km 0.000 to km 55.835 under NHDP Phase IV on Hybrid Annuity Mode in the State of Maharashtra.

Dilip Buildcon Limited (DBL) is one of the leading private sector road-focused Engineering Procurement Construction (EPC) contractors in the country. DBL is also the fastest growing infrastructure development company of India with about 78.44 per cent continuous year-on-year growth for the last four years.

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