TOP CORPORATE NEWS :- 10 Jul 2017

Corporate News

TOP Headlines Of The Day :- 10 Jul 2017

Tata Motors gains after good JLR sales
Lupin gains after FDA nod for Ancobon Capsules
IDFC, Shriram group agrees to finalise merger
KEC Intl gains after securing order worth Rs1845 cr
Sun Pharma up after settling antitrust litigation in US

Lupin gains after FDA nod for Ancobon Capsules
Lupin received final approval for its Flucytosine Capsules USP, 250 mg and 500 mg from the United States Food and Drug Administration (FDA) to market a generic version of Valeant Pharmaceuticals International Inc’s Ancobon Capsules, 250 mg and 500 mg.
Flucytosine Capsules USP, 250 mg and 500 mg are indicated for the treatment of serious infections caused by susceptible strains of Candida and/or Cryptococcus.

Biocon drops as French regulator finds lapses at Bengaluru plant
Shares of Biocon dipped over 9% touching to Rs305, on reports that the French health regulator found lapses in quality compliance at its Bangalore plant during a March inspection.
Biocon was recently inspected by the French Regulatory Authority ANSM on behalf of EMA in March, and reported observations pertaining to Drug Product facility which manufactures multiple products including Trastuzumab and Pegfilgrastim.
These observations call for remedial measures in the form of simple plant modifications that will allow for better segregation of certain activities.
There were no Product related or Data Integrity concerns – Negative for Biocon;

IDFC, Shriram group agrees to finalise merger
IDFC group and Shriram group have announced a merger approved by their boards. Under the deal structure, all the operating businesses of the group will come under IDFC Group. While the retail centric business will be absorbed directly into IDFC Bank, Shriram Transport Finance will remain a standalone entity but will be under IDFC Ltd.

Sun Pharma up after settling antitrust litigation in US
Sun Pharmaceutical Industries (Sun Pharma) and one of its wholly-owned subsidiaries have entered into settlements with certain plaintiffs in re Modafinil Antitrust Litigation matter currently pending in the United States District Court for the Eastern District of Pennsylvania. The settlements extend to all claims brought by Apotex Corporation and the Retailer Purchaser Plaintiffs. The settlements remain are confidential.

Tata Motors gains after good JLR sales
Shares of Tata Motors rose nearly 5% touching to Rs457.5 after the company said its British luxury unit Jaguar Land Rover (JLR) reported 11% rise in sales at 51,591 units in June 2017 over June 2016, driven by healthy China market.
Jaguar sales grew by 16.4% to 15,343 units in June 2017 over June 2016. Land Rover sales rose 8.9% to 36,248 units in June 2017 over June 2016.

KEC Intl gains after securing order worth Rs1845 cr
KEC International rose nearly 4% touching to Rs277.05, after the company said it has secured new orders worth Rs1845 crore.
KEC International said that of the total new orders of Rs1845 crore, the company’s transmission & distribution business secured order worth Rs1684 crore in India and the Americas.
The cables business received orders of Rs161 crore.

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