CORPORATE NEWS : 22 Feb 2017

corporate-news

Tata Motors JLR to unveil new Range Rover SUV “Velar”
Tata Motors (JLR) to unveil new Range Rover SUV “Velar”; to be showcased in March 2017 at Geneva Motor show; positive for JLR
Land Rover has revealed the latest addition to the Range Rover family – Velar. JLR will induct the fourth member in the range, nearly five decades after the original Range Rover was launched in 1970, next month. Velar is derived from the Latin verb ‘Velare’, which means to veil or cover up.
Velar will be slotted between the Evoque and the Sport in the Range Rover line. Land Rover will reveal complete details of its latest SUV on 1 March 2017, which will then be followed by the SUV’s debut at the Geneva Motor Show.

Maruti Suzuki to launch new 2017 Ciaz in April 2017
Maruti Suzuki will launch the new Ciaz in April 2017 with variant rebranding and change in equipment levels. In addition, the sedan will be sold
through the Nexa Dealerships only, which will make the Ciaz the fourth model to be sold from the company’s premium retain stores.
On exterior front, new Ciaz will receive a revised front grille with new bumpers and the headlamps will get LED DRL’s and a new set of alloy wheels.
It is expected that the sedan’s top end variant might get sunroof as well.
Inside the cabin, the sedan will get features such as touch screen infotainment system compatible with Apple CarPlay and Android Auto. The ABS (Anti-lock Braking System) and dual airbags will be standard across all the variants in the upcoming Ciaz.

Axis Bank gains on strategic stake sale reports
Kotak Bank has approached the Government of India for its stake in Axis bank. Through the Specified Undertaking of the Unit Trust of India (SUUTI), the government has a 12.02% stake in Axis Bank while LIC of India holds 14.49% stake in Axis.
The respective managements, however, have not confirmed the news and Finance Ministry officials have denied it – Sentimentally Positive read through for Axis Bank (if at all the strategic stake sale would be done at premium valuations)

Dr Reddys completes audit of API mfg plant at Miryalaguda
Dr Reddys Laboratories completes audit of the API manufacturing plant at Miryalaguda, by the US FDA, on February 21, 2017.
The Company has been issued a Form 483 with three observations, which the Company is addressing.
Two more facility await USFDA inspection and outcome of it will be the key monitorable, till then stock to remain in focus.

Apollo Hospitals surges on fund raising plan
Apollo Hospitals Enterprise rose nearly 3%, touching to Rs1320.5, after company said debenture allotment committee of the board meets on February 23, 2017, to consider issue of non-convertible debentures.
Apollo Hospitals Enterprise announced that a meeting of the debenture allotment committee of the board of directors of the company will be held on February 23, 2017, to consider and approve the allotment of 2,000 secured redeemable non-convertible debentures of face value of Rs10 lakhs each aggregating to Rs200 crore to institutional investors/banks/financial institutions on a private placement basis.

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