TOP CORPORATE NEWS:- 21 Nov 2017

top corporate news

TOP Headlines Of The Day:- 21 Nov 2017

Ajanta Pharma gets USFDA final nod for Clonidine Hydrochloride tablets
PNC Infratech gets NHAI nod for financial closure of road project
Canara Bank gets nod to divest stake in domestic subsidiaries
Dr Reddy’s rises 5%; USFDA says Duvvada unit status unchanged
M&M to increase market share in e-rickshaw segment
Bharati Airtel partners with Erricson to develop the 5G technology

Ajanta Pharma gets USFDA final nod for Clonidine Hydrochloride tablets
Ajanta Pharma has announced USFDA approval and launch of Clonidine Hydrochloride Extended-Release Tablets in the US Market through its wholly owned
subsidiary Ajanta Pharma USA Inc. It is a bioequivalent generic version of Kapvay Tablets and company has launched the product in 0.1 mg dosage.
In total, Ajanta has 39 Abbreviated New Drug Applications (ANDAs) of which it has 22 final ANDA approvals, 2 tentative approvals, and 15 ANDAs under review with USFDA. Till date, it has launched 16 products in the US market.

PNC Infratech gets NHAI nod for financial closure of road project
PNC Infratech has received a letter from NHAI regarding the achievement of financial closure of a road project in Uttar Pradesh and Madhya Pradesh.
The project is being implemented by PNC Khajuraho Highways, Special Purpose Vehicle (SPV) incorporated by the company.

Canara Bank gets nod to divest stake in domestic subsidiaries
Canara Bank has received an approval to divest its stake either in part or in full in the domestic subsidiaries or associates namely Canara Robeco Asset Management Co, Canbank Computer Services and Can Fin Homes. The board of directors at their meeting held on November 20, 2017, has approved for the same. The Bank has empanelled Investment Bankers / Merchant Bankers for this purpose.

The bank has 30% and 51% stake in Canfin Homes and Canara Robeco AMC respectively. The divestment would act positively for the bank as it would improve the capital adequacy ratio which in turn would partly fund future loan growth.

Dr Reddy’s rises 5%; USFDA says Duvvada unit status unchanged
Shares of Dr Reddy’s Lab gained 5% after the company said it got an Establishment Inspection Report (EIR) from USFDA for its Duvvada plant.
However, in the cover letter to the EIR, FDA has explained that the inspection has not closed, and the site’s status remains unchanged, but the FDA has released the EIR in order to be transparent about its regulatory process.

M&M to increase market share in e-rickshaw segment
Mahindra and Mahindra (M&M) are eyeing to increase its share in the e-rickshaw segment. The market is primarily dominated by unorganized and local players. With the launch of its ‘e-Alfa Mini’, M&M becomes one of the first organized players to enter this segment.
The e-Alfa Mini is priced at Rs 127,000 (for Bengal market) as compared to indigenous variants that are priced between Rs 75,000 and Rs 100,000.
Moreover, the company has launched e-rickshaws in Delhi, Lucknow and Bengal and is planning to launch in another seven to eight markets within this fiscal.

Bharati Airtel partners with Erricson to develop the 5G technology
Bharti Airtel has entered into a partnership with Ericsson to develop 5G technology for the former’s India operations. As part of the partnership,
Ericsson will work with Bharti Airtel on creating a strategic roadmap for the evolution of the network to the next-gen 5G technology.
Earlier this year, the company had inked a similar pact with telecom gear maker Nokia to expand their partnership to areas like 5G technology standard and management of connected devices.

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