TOP CORPORATE NEWS : -26 April, 2017

top corporate news

Top Headlines :

Warning letter issued to Divi’s lab is published today
Eicher Motors JV eyes 10% growth in FY18
Brigade Enterprise to raise Rs500 crore through QIPs
NIIT Tech up after collaboration with Siam City
Aurobindo, Alkem get approval for gBenicar

TOP CORPORATE NEWS : -26 April, 2017

Warning letter issued to Divi’s lab is published today
Divi’s Lab: Warning letter issued to Divi’s Lab is published today.
Though the news has already hit the stock, the warning letter brings out the details of significant deviations from current good manufacturing practice (CGMP) for active pharmaceutical ingredients (API).
USFDA has also indicated in the letter that until the company corrects all deviations completely and USFDA reviews it, all new approvals will be withheld.
This is negative for Divi’s; data integrity issues will take time to resolve; company has already hired third party consultants; pressure on business and operating margins in the near term.

Eicher Motors JV eyes 10% growth in FY18
Eicher Motors JV (VE Commercial Vehicle) eyes 10% growth in FY18, to invest Rs500 crore for BS-VI technology; positive read thru
With an eye on grabbing 10% segment share in the heavy duty truck market, VE Commercial Vehicle, the JV company of Eicher Motors and Volvo launched a new range of Pro 5000 series trucks.
The Pro 5000 Series trucks gets an all new cabin and the new 3 litre Diesel engine with EGR technology allowing the company to price its products more competitively as against more expensive BS IV Diesel engine trucks with SCR technology.

Brigade Enterprise to raise Rs500 crore through QIPs
Brigade Enterprise is planning to raise up to Rs500 crore through private placement of shares to institutional investors by way of Qualified Institutional Placement (QIP).
The floor price of the QIP is Rs239.2 per share (7.5% discount to yesterday’s closing price) and may offer a discount of not more than 5% on the floor price.

NIIT Tech up after collaboration with Siam City
Shares of NIIT Technologies rose nearly 9%, touching to Rs475, after company announced collaboration of Siam City Cement with the company to build its future ready IT infrastructure.
Siam City Cement Public Company (SCCC), one of the leading cement manufacturers in Thailand has partnered with NIIT Technologies for building its future ready IT infrastructure. Supporting the digital transformation for SCCC, NIIT Technologies has designed, delivered and operating its private and public cloud infrastructure.

Aurobindo, Alkem get approval for gBenicar
Aurobindo Pharma and Alkem gets approval for gBenicar (olmesartan medoxomil), used to treat hypertension.
This is sentimentally positive for Aurobindo & Alkem (there will be ~8-10 generic players in the market and hence it will be very competitive).

Capitalstars Financial Research Private Limited is a research house and an investment advisory carrying out operations in the Indian Equities and Commodity market.We also provide 2 days free trial to our client.Join our services and trade with us.

GET MORE DETAILS HERE:-

Commodity Market Tips
Equity Tips
Nifty Future Tips

 

  * INVESTMENT & TRADING IN SECURITIES MARKET IS ALWAYS SUBJECTED TO MARKET RISKS, PAST PERFORMANCE IS NOT A GUARANTEE OF FUTURE PERFORMANCE.
* CAPITALSTARS INVESTMENT ADVISER: SEBI REGISTRATION NUMBER: INA000001647
Advertisements