TOP CORPORATE NEWS : 28 March, 2017

corporate-news

Dishman rallies as USFDA approves cancer drug Zejula
Dishman in focus: USFDA approves Tesaro Inc’s ovarian cancer drug Zejula (market size is $2 bn).
Dishman is one of the API supplier to Tesaro – Positive for Dishman; Stock hit an upper circuit of 20% to Rs278.70 on NSE today.

Axis Bank up on fund raising
Shares of Axis Bank rose over 2%, touching to Rs499.8, after the bank said that it has raised senior notes in the international market.
Axis Bank said that its board of directors passed a resolution approving the allotment of 3 year senior floating rate notes aggregating to $10 million under the medium term note (MTN) programme through its Dubai International Financial Centre (DIFC) branch.

Kotak Mahindra Bank board to consider raising of equity capital
Kotak Mahindra Bank said that the bank’s board of directors scheduled a meeting on March 30, 2017, to consider raising of equity capital by the bank through rights issue, private placement, follow-on public offering ( FPO), qualified institutions placement ( QIP), global depository receipts (GDR), American depository receipts ( ADR) or through any other permissible mode or a combination thereof, as may be considered appropriate.

PNB gains on seizing 39 properties involving Rs9,325.8 crore
Punjab National Bank has seized 39 properties involving Rs 9,325.8 crore till December 2016 while State bank of India has seized 266 properties involving Rs 3,183.7 crore into possession during the same period – Positive read thru for PNB and SBI.

Aurobindo gains on USFDA approval for Meropenem injection
Aurobindo Pharma gets USFDA approval for Meropenem injection used to treat ICU infections as a last resort for the treatment of life-threatening infections.
The drug has market size of $118 mn (~ Rs 770 crores) and will be launched in April 2017.

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