CORPORATE NEWS : 7 Mar 2017

corporate-news

Lupin launches gPaxil extended release tablet in US
Lupin launches gPaxil extended release tablet in the US; indicated for treatment of major depressive disorder, panic disorder, social anxiety and
premenstrual dysphoric disorder – Positive for Lupin; Paxil tablets had US sales of $ 127 mn (As on Dec 2016)
Pharma major Lupin has launched generic paxil drug used for treatment of major depressive order in the US market.
The company has announced that the launch of generic paxil CR extended release tablets, 12.5 mg, 25 mg and 37.5 mg, having received an approval from
the United States Food and Drug Administration ( FDA) earlier’.
The drug is used for treatment of major depressive, panic, social anxiety and premenstrual dysphoric disorder.

M&M to expand overseas tractors and farm machinery business
Mahindra & Mahindra is expanding the international play for its tractors and farm machinery business, targeting to earn 50% of the revenues from the
overseas market in the next two years. M&M is also open to acquisitions to expand its reach and product capabilities.
The global farm equipment market is estimated at $156 billion of which tractors is only $60 billion. Currently, tractors bring in about 85% of M&M
sales for the farm segment, while the rest is from farm machinery.
The company’s target is to bring down the share of tractors to 79% by FY19. M&M is targeting North and South America, China, Japan and Turkey to
boost its farm exports where it already has ground presence.

Unichem gains on concluding USFDA inspection at Ghaziabad unit
Unichem: As per media reports, Unichem Labs has concluded USFDA inspection at its Ghaziabad unit without observations.
This is sentimentally positive for Unichem; the stock was up by 3% to Rs265.05 in trade today; Ghaziabad unit is a multi-product formulation plant
and is one of the key unit (out of 5 USFDA approved manufacturing units).

Bharat Financial says portfolio with over 8 weeks overdue stood at Rs383 cr
Bharat Financial Inclusion: Company has reported that 4.5% of loan portfolio is at risk of becoming NPA in Q4 – Negative Read through
Bharat Financial Inclusion (BFI) has said portfolio with over 8 weeks overdue stood at Rs383 crore or 4.5% of the total loan book. Also, the
management of BFI said that they expect over dues to be repaid only in 3-4 months as against the earlier projection of March end. Around 60% of the
overdue portfolio pertained to Uttar Pradesh and Maharashtra and in total around 1300 centres has seen zero repayment since demonetization.
Collections in these states had dropped after local political leaders misinterpreted the Reserve Bank of India’s 90 –day guideline on bad loan
classification for a loan waiver scheme.

Tata Motors’Jaguar Land Rover sales up 9%
Tata motors’ UK subsidiary Jaguar Land Rover ( JLR) reported 9% increase in February total sales compared to same period last year.
Jaguar sales jumped 81.1% YoY to 12,203 units while Land Rover sales dropped 6.4%YoY to 28,775 units.
Sales rose 40.4% YoY in China
Sales rose 16.2% YoY in North America
Sales rose 14.2% YoY in U.K.
Sales dropped 1.6% YoY in Europe.

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