TOP CORPORATE NEWS : -29 March, 2017

corporate

Berger Paints starts commercial production at Pune
Berger Paints starts the commercial production at its expanded capacity at Jejuri plant at Pune; the company invested about Rs100crore for the expansion of the capacity.
This is sentimentally positive read through for the stock as company aims to double the revenues over the next five years through enhanced capacity.

Aurobindo clarifies on suspension of drugs by EMA
Aurobindo Pharma clarifies that the suspension of drugs by European Medicines Agency ( EMA) will have an impact of less than $5 mn (Rs30 crore) per annum as some of the products are awaiting for approval in some countries and currently only 5 products are affected – Positive for Aurobindo.

Tata Comm partners with Continuant to enhance digital cloud
Tata Communications partners with Continuant to enhance digital cloud communication platforms
Continuant announced an extension of its strategic partnership with Tata Communications to provide dedicated hosted Cisco collaboration solutions to enterprise customers worldwide.
The partnership combines the strengths of Tata Communications’ global connectivity and platform capabilities with Continuant’s industry-leading experience maintaining existing legacy systems and transitioning companies to the cloud.

Kotak Bank plans to raise capital by selling shares
Kotak Mahindra Bank: As per media reports, Kotak bank is planning to raise capital by selling shares for a possible buyout of a non-banking finance company, which may be Mahindra & Mahindra Financial Services Ltd.
This is sentimentally positive for M&M Fin though it would finally depend upon valuations and structure of the deal; Avoid buying Kotak Bank before the deal as it has already seen speculative run up recently.

L&T Construction wins order worth Rs2400 cr
Larsen & Toubro (L&T) has announced that its construction division, L&T Construction won orders valued at Rs2400 crore.
L&T said that the power transmission and distribution business of L&T Construction recently bagged major orders worth Rs2400 crore in the domestic and international markets.

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