TOP CORPORATE NEWS : -31 March, 2017

corporate
NTPC gains after commission 260 MW
Shares of NTPC rose over 2%, touching to Rs166.8, after the company said it has commissioned 260 megawatts capacity at a solar PV project at Bhadla, Rajasthan on March 25, 2017.
With the commissioning of 260 megawatts (MW) capacity at Bhadla solar project, the commercial capacity of NTPC and NTPC group has become 40,522 MW and 47,293 MW respectively.

Hero Motocorp offers discounts upto Rs12, 500 to clear BS3 vehicles
Hero Motocorp offers discounts upto Rs 12,500 to clear inventory of BS3 vehicles; to impact profitability in Q4FY17; stock price already factoring higher discounting impact
Hero Motocorp is offering huge discounts to clear the BS3 vehicles inventory after the Supreme Court has banned the sales of such vehicles after 31st March 2017. Hero is offering rebate of Rs 12,500 on its scooters, Rs 7,500 on premium bikes and Rs 5,000 on entry level mass market
motorcycles.

IRB Infra board approves acquisition of 34% stake in Aryan Infra
IRB Infrastructure board has approved acquisition of 34% stake in its subsidiary Aryan Infrastructure Investments (presently IRB holds 66% stake) from promoter and promoter group entity making it wholly owned subsidiary of the company.

Capital First surges ahead of board meeting
Capital First rose over 5%, touching to Rs778.95, after the company scheduled a board meeting on April 05, 2017 to consider issue of non-convertible debentures (NCDs).
Capital First said that the meeting of the debenture committee of the board of directors of the company will be held on April 05, 2017, to consider and approve the private placement of rated, listed secured/unsecured/redeemable, non-convertible securities in the nature of debentures.

Glenmark gets USFDA nod for Milnacipran Hydrochloride tablets
Glenmark Pharmaceuticals has announced that its US arm has been granted tentative approval by the United States Food & Drug Administration (USFDA) for Milnacipran Hydrochloride Tablets, 12.5 mg, 25 mg, 50 mg and 100 mg, the generic version of Savella® Tablets, 12.5 mg, 25 mg, 50 mg and 100 mg of Allergan Sales, LLC.
According to IMS Health sales data for the 12 month period ending February 2017, the Savella® Tablets, 12.5 mg, 25 mg, 50 mg and 100 mg market1 achieved annual sales of approximately $ 154.4 million. Glenmark’s current portfolio consists of 113 products authorized for distribution in the US marketplace and 65 ANDA’s pending approval with the USFDA.

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