TOP CORPORATE NEWS:- 5 June 2017

Corporate News

TOP Headlines:-

• Jewelry stocks jump: Titan at new high
• Bharat Forge: US Class 8 truck net order inflows grow in double digits
• BEL eyes deal for 7 more Navy missile systems
• Cadila gets USFDA nod to market Mirtazapine
• Tata Elxsi rises on becoming driverless car manufacturer

Jewelry stocks jump: Titan at new high
Shares of jewelry companies gained after the Goods and Services Tax (GST) Council fixes GST rate at 3% for gold, gems, and jewelry.
GST rates of 3% on Gold & Diamond is at the low end of expectations, Input Tax Credit will be allowed, which will make effective rate closer to 2%.

Bharat Forge: US Class 8 truck net order inflows grow in double digits
Bharat Forge: US Class 8 truck net order inflows grew in double digits by 15.6% YoY to 16,300 units in the month of May 2017.
This is sentimentally positive for Bharat Forge as it derives around 15 to 20% of its standalone revenues from class 8 trucks.

BEL eyes deal for 7 more Navy missile systems
BEL eyes deal for 7 more Navy missile systems – positive read-thru
Bharat Electronics is looking to ink a contract by end-2018 for seven more Long Range Surface-to-Air Missile (LRSAM) systems as part of the Navy’s P-17A stealth frigate program.
The company has already signed a contract for the first four systems. BEL expects to sign a contract for the next seven systems soon.

Cadila gets USFDA nod to market Mirtazapine
Drug firm Zydus Cadila has received the US health regulator’s nod to market Mirtazapine, orally disintegrating tablets, an anti-depressant, in the
American market.
Zydus Cadila has received final approval from the US Food and Drug Administration (USFDA) to market the Mirtazapine tablets USP in strengths 15mg,
30mg and 45mg, the company said in a BSE filing. The company will manufacture the product at its facility in Baddi.
The Gujarat-based group has more than 115 approvals and has filed over 300 abbreviated new drug applications (ANDAs) since it commenced filings in
2003-04.

Tata Elxsi rises on becoming driverless car manufacturer
Tata Elxsi rose nearly 5%, touching to Rs1423.95 after the company said that its driverless car platform was selected by leading original equipment manufacturer.
Tata Elxsi announced the licensing of its advanced autonomous vehicle middleware platform ‘AUTONOMA’ to one of the world’s top 5 automotive OEMs
(original equipment manufacturers) for their driverless car R&D (research and development).
The Autonoma platform provides carmakers and Tier 1 automotive suppliers with a comprehensive and modular solution covering perception, GNC (guidance navigation control) and drive-by-wire systems, to quickly build, test and deploy autonomous vehicles.
This solution supports sensor fusion with a variety of sensors from cameras to radar and lidar and leverages sophisticated artificial intelligence (AI) and deep learning based algorithms to deliver the complex use-case scenarios expected of driverless cars.
Autonoma also allows rapid region-specific adaptation through its pre-integrated validation datasets and AI & deep learning capabilities.

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