TOP CORPORATE NEWS : 23, May 2017

Corporate News

Top Headlines of the Day :

India’s LNG import growth slows down to 1.9% YoY
Eicher Motors JV ships first lot of Multix utility vehicle to Nepal
ZEE Media launches Hindi news channel Zee Hindusta
Tata Motors (JLR) plans to introduce diesel derivative of XE
USFDA issues EIR for Alkem’s Baddi manufacturing facility

India’s LNG import growth slows down to 1.9% YoY

Petronet LNG (PLNG): India’s LNG import growth slowed down to 1.9% YoY (+1.3% QoQ) to 1.65mmt in April-2017 as compared to robust growth of 22.4% YoY in March-2017.
Although PLNG stock is down by around 2.6% but we see weak LNG import growth data as neutral for PLNG given its share of contracted volume (long-term + tolling) has increased to 100% in Q4FY2017 and thus removes volatility in volumes.
Eicher Motors JV ships first lot of Multix utility vehicle to Nepal

Eicher Motors JV – Eicher Polaris has shipped the first lot of Multix utility vehicle to Nepal, as part of its plan to export the vehicle to neighboring around India.
This could help improve volumes for the vehicle.
ZEE Media launches Hindi news channel Zee Hindustan

Zee Media has launched a new national Hindi news channel, Zee Hindustan, which will flash over 1,500 stories daily.
The channel will cover content from various states without restricting itself only to National Capital or metropolitan cities.
Tata Motors (JLR) plans to introduce diesel derivative of XE

Tata Motors ( JLR) plans to introduce the diesel derivative of XE.
Diesel variant will be available in three trims ie. Pure, Prestige and Portfolio and would be priced at Rs. 38.35 lakh.
USFDA issues EIR for Alkem’s Baddi manufacturing facility

Alkem: USFDA has issued an Establishment Inspection Report (EIR) for Alkem’s Baddi manufacturing facility which was inspected in March 2017.
The inspection has now been closed by the US FDA – Positive for Alkem.

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